There is no winner in trade war: Chinese FM spokeswoman

There is no winner in a trade war, nor will the world benefit from it, Mao Ning, a spokeswoman for the Chinese Foreign Ministry, said on Thursday at a press briefing in Beijing.

She stressed the consequences of a trade war in response to a reporter’s question about U.S. President-elect Donald Trump's threats to impose blanket tariffs on goods from China.

"We do not answer hypothetical questions. But broadly speaking, let me reiterate that there is no winner in a trade war, nor will the world benefit from it," she said.

This year's CIIE has seen many overseas participants keen to expand their footprint in the Chinese market, as the country's resilient consumer market is generating numerous business opportunities for international brands despite global economic headwinds.

The seventh CIIE is being held in Shanghai from Tuesday to Sunday.

Under the theme of "New Era, Shared Future," this year's event has attracted participants from 152 countries, regions and international organizations, and achieved a new record with the attendance of 297 Fortune Global 500 companies and industry leaders.

Shiseido, a Japanese cosmetics producer, plans to deepen its presence in what it considers a crucial market.

"We have never waived in the confidence and determination to invest in China, and even when talking about the future, we are confident to strengthen the longterm investment in China because again, the Chinese market, including the consumer, are very sound, they are so vital, as well as resilient. And then now the China market is a very important international market for the Shiseido Group," said Toshinobu Umetsu, President and CEO of Shiseido China.

Meanwhile, Australian wine producer Penfolds, owned by Treasury Wine Estates, is advancing its local production strategy. The company launched its first Chinese-made wines at the previous CIIE.

"As we started our journey of making wine here in China, we were welcomed very warmly by industry participants here in Ningxia, but also down in Yunnan in Shangri-la. So we are taking a very collaborative approach, and it's great be able to share what is possible when you focus on collaboration and partnership with the release of our Chinese wines that we showcased for the first time here at CIIE last year," said Tom King, Managing Director of Penfolds, an Australian wine producer.

Unilever, a British multinational company, is expanding its manufacturing footprint with new facilities in south China's Guangzhou City and east China's Hefei City. The consumer goods giant expects its food category plant to begin production in Q1 2025.

"We have strong determination to develop in the Chinese market. For example, currently we are building a full-category manufacturing site in Guangzhou. The first phase has already completed, the second phase, our food factory, is still under construction and is scheduled to be put into production by the first quarter of next year. And also this year, we build another new skin factory from our beauty and wellbeing business in Hefei. So this series of new investment, new construction, not only marks the upgrade of our supply chain, but also reflects our strong determination, our strong confidence to further develop in the Chinese market, probably for another 100 years," said Jasmine Dang, head of Communication and Corporate Affairs at Unilever North Asia.

The CIIE is the world's first national-level exposition dedicated to imports. Running from November 5 to 10 under the theme of "New Era, Shared Future," the seventh CIIE has attracted participants from 152 countries, regions and international organizations to participate in its country exhibition and business exhibition.