U.S. businesses are doubling down on China, sending a strong message of continued commitment through attendance of a high-profile American delegation to the China International Import Expo (CIIE) for the second consecutive year.
At the opening ceremony of the seventh CIIE on Tuesday, Premier Li Qiang pledged to further expand opening up and turn China's vast market into great opportunities for the world, solidifying confidence of the U.S. delegation.
Zafer Unluer, global senior vice president of the U.S.-based healthcare company Organon, underscored the significance of China's business climate.
"Premier Li's opening speech this year, similar to last year also, was very encouraging in terms of opening the platform for close collaboration, transparency, a stable environment around the world that allows for trade. That coincides very well with our strategy here, [which is] 'China for China, China for global'. As a U.S. company, of course, we definitely benefit a lot, related to the stability between two countries, that also allows us to operate in a different way and collaborate with the customers, with physicians, and make our product available for the Chinese patients," he said.
Leading the charge in the medical technology industry, Boston Scientific has long recognized the vast potential that China holds for expansion and innovation. As the company continues to map out its global strategy, the role of China as a hub for growth and development becomes increasingly clear, said Zhang Cheng, senior director of Operations and R and D at Boston Scientific.
"To us, China is one of the most key strategic markets. We will bring not only our global expertise to China [but] also investing in local R and D and forming strategic partnership to co-develop innovative solutions for China in the future, maybe for the world. Opening our manufacturing base in Lin-gang (Special Area), Shanghai is one of the major leaps forward in Boston Scientific's strategic expansion in China," Zhang said.
Amid the rapidly evolving landscape of the pharmaceutical sector, Qian Yun, vice president of Pfizer China, has witnessed firsthand how China has emerged as a key player in fostering an environment conducive to pharmaceutical innovation.
"The growth of innovative pharmaceutical companies depends on a favorable industry ecosystem that supports the sustainable development. It includes both the international environment and domestic policies. Our 35 years in China have garnered strong support from the governments at all levels and from our cooperative partners. We've also noted that the Chinese government has sent many signals indicating its enhanced commitment to attracting foreign businesses and investment and continuing its policy of opening-up. All of these actions have enhanced our confidence," she said.
The 7th CIIE running from Tuesday to Sunday has attracted participants from 152 countries, regions and international organizations, and achieved a new record with 297 Fortune Global 500 companies and industry leaders set to attend.
American exhibitors at CIIE optimistic about growing opportunities in Chinese market
