Companies hail CIIE's spillover effect
The annual China International Import Expo has been a boon to many companies, and Japanese medical instrument manufacturer Terumo is among the latest to testify to the benefits it has reaped from attending the major trade extravaganza.
According to the company, sales of its insulin injection needles－the world's thinnest and shortest of their kind－surged six times month-on-month on e-commerce site JD in November 2019, just a few weeks after it was showcased at the CIIE that year.
"Before that year's CIIE, information about the product was only available in children's hospitals in first-tier cities in China. Parents of young diabetes patients mainly bought the devices," said Masayuki Maruta, president and CEO of Terumo (China) Holdings Co Ltd.
"Afterward, more enterprises contacted us, inquiring about the device and seeking collaboration opportunities. Individual customers, including pregnant women and those with elderly parents, also inquired and purchased the products. Showcasing the product at the CIIE also deepened the trust that existing partners had for our brand."
Another healthcare company that has benefited from the CIIE is Sanofi Genzyme China, which saw its dermatitis treatment approved for sale in China in June 2020, two years ahead of schedule and shortly after it was showcased at the CIIE.
The supply of the treatment started just 25 days after it obtained market approval, setting a record for the speed of biological agents being marketed in the country. The drug was also included in the National Reimbursement Drug List five months after its market launch, said Vicky Tse, general manager of Sanofi Genzyme China.
Last year, US-based biotech company Illumina inked collaborations valued at more than 10 million yuan ($1.57 million) after it made its CIIE debut. This productive outing convinced the company to sign up for this year's edition of the expo. This year, the company is expected to sign agreements of intent with more than 30 Chinese genetic testing partners and ink strategic cooperation agreements with other multinational pharmaceutical companies and hospitals in multiple segments at the CIIE.
The company said it will continue to leverage high-throughput gene sequencing technology to empower China's healthcare system, improve molecular detection capabilities in hospitals and contribute to the development of precision medicines.
British pharmaceutical company GlaxoSmithKline said that an innovative therapy to treat chronic obstructive pulmonary disease, which only needs to be taken once daily, attracted attention from medical circles and visitors during the 2019 CIIE, and was listed on the NRDL the following year. This allowed patients in the country to receive the treatment at the same time as those based overseas.
Another CIIE spillover effect experienced by the company was the approval of its therapy for juvenile systemic lupus erythematosus. The company said its treatment was approved within a month after last year's expo.
Aware of the spillover effect the CIIE has, several companies make a debut at the expo this year. Among them is US medical technology company Stryker, which displays over 20 innovative products and solutions related to orthopedics, medical, surgical, neurotechnology and spinal health.
"The CIIE not only demonstrates China's economic vitality but also its determination to insist on opening-up and promoting the dual-circulation economic model," said Greg Holman, president of Stryker China.
Among the highlights at Stryker's CIIE booth is the company's latest endoscope system, which is being exhibited in China for the first time. The company said the product provides a total solution for surgical teams and offers images with greater detail, more accurate color reproduction and enhanced consistent lighting.
Beiersdorf, a 139-year-old German skin care group, is participating in the CIIE for the first time and presenting its brands such as Nivea, Eucerin and Coppertone.
The company said that there are several interactive areas within its 500-square-meter booth that demonstrate the group's cutting-edge skin care technologies and "care beyond skin" philosophy.
"Today's China market is booming and extremely diverse, and the CIIE provides a great platform for the world to explore opportunities in China, which we take very seriously," said Shirley Xue, general manager of Beiersdorf Northeast Asia.
"We're confident that global companies will continue to benefit from the CIIE. It'll become a new starting point for China to share the future with the outside world in the new era," said Ketin Lei, general manager of corporate affairs at Beiersdorf China.
