Economic Watch: China's import expo shows its commitment to opening-up

SHANGHAI -- With the seventh China International Import Expo approaching, global exhibitors are gearing up for the expo, which will take place in Shanghai starting Nov 5.

According to the CIIE Bureau, more than 70 countries and international organizations have confirmed their participation in the country exhibition section of the CIIE. Norway, Slovakia, Benin, Burundi, Madagascar and UNICEF will participate for the first time, and the total number of exhibitors in the section is expected to exceed that of the sixth CIIE.

The 7th Hongqiao International Economic Forum, themed "High-Standard Opening up for Universally Beneficial and Inclusive Economic Globalization," will include a main forum and 19 sub-forums.

Some new debuts at the business exhibition are sure to catch the eyes of many. For example, French firm Michelin will debut a lunar wheel prototype at the Expo for the first time in Asia. The lunar wheel can adapt to extremely harsh conditions on the moon, including temperature differences from day to night.

"In my opinion, the CIIE not only reflects China's economic and trade dynamic, but also the country's determination to promote high-level opening-up, and pursue high-quality development," Mohammed Tawil, president and CEO of Boehringer-Ingelheim Greater China said.

Mohammed Tawil noted the example of Spevigo, a therapy for treating rare skin diseases. After the therapy debuted at the third CIIE in 2020 as a pipeline product for the company, Sepvigo was officially approved in China in 2022 and simultaneously with the United States and European Union. This year, in March, Spevigo's new indication was also approved in China, ahead of major markets like the United States, EU, and Japan.

"Boehringer-Ingelheim sees China as a focus market and a source of innovation. We have firmly believed that this market is of high potential, and we firmly believe the resilience of the Chinese market as well. We appreciate the continuous improvement of the business environment that we operate in," said Mohammed Tawil.

Nicolas Hieronimus, CEO of French firm L'Oréal, visited the firm's newly opened intelligent and automatized fulfillment center in Suzhou during his recent trip to China.

According to Hieronimus, the company wants to continue to invest in China not only because it believes in the market's potential but also because it sees the conditions for doing so and the support it is getting from the authorities.

"For us, CIIE is a unique event, and it's unique in the world. There is no other event in the world of such magnitude first, but also where L'Oréal is so strongly present, and where we introduce brands, new technologies, innovation, sustainability programs," said Hieronimus.

As the world's first national-level import-themed expo, the CIIE attracted representatives from 154 countries, regions, and international organizations last year. More than 3,400 enterprises took part in the business exhibition.