US participants underline win-win

Multinational executives see the annual event as perfect platform to enrich relations

The third China International Import Expo provides a comprehensive platform for Chinese and US companies to enrich business ties and bolster win-win trade amid a global fight against the COVID-19 pandemic, said executives of US companies－that's the consensus view among US business leaders, who are taking part in the event for the first time, and others who are participating for the third time.

Both groups said they believe the event will create fresh momentum for US companies to further explore the China market.

Given this year's context of the pandemic, holding the CIIE in a full-fledged manner demonstrates China's determination to further open up and integrate into the global market, said Leo Liu, president for Asia-Pacific at Chicago-based Archer Daniels Midland Co, or ADM, a US agribusiness group and a first-time participant.

"China is not only one of the most important markets in the world for ADM, but also our innovation hub in Asia-Pacific. We will continuously expand trading in China and innovations in nutrition to meet rising consumer demand," he said.

The company is building a food ingredient factory in Zhejiang province. The facility is expected to be operational next year, he said.

After signing agreements worth about $5.5 billion over the past two CIIEs, Robert Aspell, president for Asia-Pacific at Cargill Inc, another US agribusiness giant, said the expo offers more opportunities for the food and agriculture industry to come together and exchange ideas on important issues. It will in turn help the industry to better develop.

"We will continue to leverage the vital opportunity presented by the CIIE to further deepen our localization and innovation, boost global cooperation, as well as fully utilize our global resources to unlock the opportunities in China," said Yann Bozec, president for Asia-Pacific of Tapestry, the parent company of a range of US luxury fashion brands, including Coach and Kate Spade.

Tapestry will use the CIIE to foster innovation and enhance engagement with customers. It signed an agreement for long-term cooperation with the CIIE Bureau, the event's organizer, earlier this year, making it into the first batch of exhibitors that pledged participation in the CIIE for three years beginning this year.

Michelle Ho, president of UPS China, said the CIIE has helped the company to sell products, besides reaching customers with greater precision and gain a better understanding of the market dynamics and specific customers' needs. This has enabled the company to continue developing solutions to optimize their supply chain strategies.

To address today's uncertain global business and trade environment, she said UPS has launched a series of webinars around the Asia-Pacific region, including in China, to provide market insights and guidance to businesses on how they can navigate disruptions.

Johnson & Johnson has over 1,000 square meters of exhibition area at the expo, and is exhibiting 53 products and technologies, including some that will make their China, Asia or global debut during the CIIE.

China's improved business environment, surging demand for high-quality medical products and services, and the market's expectations for innovative healthcare solutions will continue to inject strong impetus into the growth of a large number of global companies in China during the post-pandemic era, said Will Song, chairman of Johnson& Johnson China.

The CIIE Bureau said the total exhibition area this year is 360,000 sq m, 60,000 sq m larger than the second edition, reflecting the growing significance of both the CIIE and the Chinese market.

Ma Yu, a senior researcher at the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said the greater presence of US businesses is evidence of their strong desire to tap into the Chinese market and expand cooperation.