Int'l businesses eye opportunities in China's thriving market

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.

Int'l businesses eye opportunities in China's thriving market

Participating scholars and experts from China and abroad have lauded the ongoing inaugural World Conference of Classics, saying the event provides a platform for researchers to exchange ideas and build consensus on topics related to classical civilizations.

The first World Conference of Classics convened in Beijing from Wednesday to Friday, uniting 485 scholars and experts from over 30 countries and regions to explore the enduring wisdom of past civilizations.

"One of the most significant things that we can expect to get out of this is dialog between West and East, between European and other scholars and Chinese scholars. I mean, it's very clear that these two intellectual disciplines have an awful lot in common. Both of them are about ancient literate cultures that still have a bearing on the present," said Tim Whitmarsh, regius professor of Greek at the University of Cambridge, and a Fellow of Trinity College, Cambridge.

"I think this is precisely opening the way also to collaboration with specialists in Chinese culture, both from western Europe and from China itself. So there are steps that are moving in the right direction for collaboration and openness already," said Michael Trapp, professor emeritus of Classics from the Faculty of Arts and Humanities at King's College London.

Chinese and foreign experts emphasized the importance of classical civilization as a shared heritage, adding that it can inform the development of modern Chinese civilization

"At the current stage, Chinese civilization needs a deeper study and understanding of classical civilization. While exploring Western classical roots, we should use many methods of world classical studies to reinterpret Chinese classics, forming comparisons and mutual interpretations between Chinese and Western civilizations. I think many creative thoughts will gradually emerge in this process," said Wu Fei, professor from the Department of Philosophy and Religious Studies at Peking University.

The event seeks to foster intercultural exchange, provide solutions to global challenges, and inspire human progress while aligning with the Global Civilization Initiative.

Chinese, foreign scholars speak highly of World Conference of Classics