China is going to remain a key market for the United States forever, Craig Allen, the president of U.S.-China Business Council, said in an interview with China Media Group (CMG) on the sidelines of the ongoing 7th China International Import Expo (CIIE) in Shanghai on Wednesday.
For years, U.S. companies have taken up the largest amount of exhibition space at the CIIE. The U.S.-China Business Council, which represents nearly 300 U.S. companies doing business in China, has also participated in the expo for seven consecutive years.
On Wednesday, senior executives from U.S. firms including express delivery company FedEx, medical device maker Medtronic, and industrial conglomerate 3M held a roundtable meeting with officials from the Chinese Ministry of Commerce and Shanghai.
Speaking with CMG after the meeting, Craig Allen said that many participating companies will continue to expand their presence in China.
"This year is the best CIIE that I have been to. The quality of the buyers and the exhibitors has never been higher. Many of our companies are signing contracts on the show floor. And that's a really positive sign that business is being done, imports are flowing. And that the companies are pleased with their investment in this particular show," he said.
Allen said more and more American companies are showcasing new products and technologies at the CIIE and subsequently expanding their sales in China, which demonstrates the broad prospects for U.S.-China cooperation.
"We have seen many companies in the life sciences area really introducing their newest products for the first time. I think that that's very encouraging. Also on the food side, food and agriculture, we're seeing a much more diverse diet in China. Chinese agents and distributors and wholesalers wanting additional products. We are really happy to see that growth,” he said.
Allen said that the Chinese market continues to remain important to American companies, and they are paying close attention to the economic impact of China's package of incremental fiscal policies.
"China has 17 percent of global GDP, about 18 percent of the world population. China has wonderful engineering and other talent. And therefore, of course, China is going to remain a very important market to us forever. And we are committed to growing our exports and our sales in the market," he said.
Running from Tuesday to Sunday, this year's CIIE has attracted 3,496 exhibitors from 129 countries and regions. It also sets a new record with 297 Fortune Global 500 companies and industry leaders attending the event.
China will be key market to US forever: US-China Business Council president
