Global companies are eying opportunities in China's fast-growing and dynamic consumer market, with more planned investments into the world's second-largest economy, according to senior executives attending the ongoing 7th China International Import Expo (CIIE) in Shanghai.
In an interview with the China Global Television Network (CGTN), Gijs Sanders, head of strategy, marketing and digital transformation of British consumer healthcare group Haleon, praised China's efforts in improving its business environment and pledged increased investment in the country.
"Over the past 30 years, we have seen China continue to make a lot of efforts in building a real world-class business environment, and we have achieved significant results in areas such as improving policies and regulations, opening up market access and also improving government service efficiency. So, all of this obviously helps multinational companies like Haleon operate smoothly in the China market environment and we continue to make more and more investments. For example, we've established a research and development center and an innovation center in China. This investment is clear evidence of our continued interest and the potential we see in the China market," he said.
Speaking with CGTN, Bjoern Sattler, CFO of German drugmaker Boehringer Ingelheim's Greater China division, said the CIIE is enabling products to enter the Chinese market more rapidly.
"For us, it’s embarking together into a new era. We would like to see further opening up. We would like to see that the market provides a platform for us also to bring the latest innovation. (We have) human pharma of more than 25 innovations coming over the next years, and you will also see products like our specialty care drug Spevigo, which made its debut also here in China at the CIIE two years ago. And now we brought it to the Chinese market, almost at the same speed we have brought it to the rest of the world, and with the latest indication, even faster than when we brought it to the U.S. market. So it’s a good platform here," he said.
Nathan Flowerday, chairman of the kiwifruit exporter Zespri, indicated the company's optimistic outlook on the Chinese market.
"It’s such a pleasure for Zespri to be here the 7th time for the CIIE. It’s such an important market and such an important opportunity for Zespri to show its commitment to the China market. We managed to improve our volume by 30 percent and value by 40 percent as well. But also to build partnerships that we have here, the connections that we have with our supply chain optimization and the commitment that we’ve got here, into how do we provide a more efficient supply chain right through to our local Chinese consumers as well. So, we provide a competitive offering for the Chinese consumers and provide more value for them in the future," he said.
The CIIE, which runs from Tuesday to Sunday, has attracted 3,496 exhibitors from 129 countries and regions this year. The event also marks a significant milestone with the participation of 297 Fortune Global 500 companies and leading industry players from around the world.
Global firms eye China's growing market at 7th CIIE
