RX banks on China biz for bigger growth

Leading expo organizer set to hold 75 events in Chinese market this year

RX, formerly known as Reed Exhibitions, is set to hold 75 business exhibitions across China in 2023 to meet demand from local companies seeking to boost exports and better compete with global rivals, said its top executive on Tuesday.

Due to the impact of the COVID-19 pandemic, the London-headquartered group, one of the world's largest trade fair and event organizers in terms of sales revenue, managed to hold 15 trade fairs in China last year. Supported by China's optimized pandemic control measures, the latest opening-up policies and accelerated pace in industrial upgrading, RX predicted that its sales revenue would soar 190 percent on a yearly basis this year.

Hugh Jones, the group's CEO, expressed confidence in the Chinese market and the further growth of various industries in China. Jones said that RX is committed to attracting international exhibitors and buyers to return to the Chinese market while assisting local customers in expanding their presence in key regions worldwide.

Given China's growing middle-income earners, increasing disposable incomes and demand for more sophisticated daily necessities, businesses from sectors such as packaging, healthcare and smart manufacturing will see surging demand to participate in various trade shows to win more clients in the coming years, said Jones in Beijing, during his two-week visit to China.

The British company will organize major trade fairs and events in China, including the China International Medical Equipment Fair in May in Shanghai, the Kunming International Flowers Expo of China in September in Kunming, Yunnan province and Automotive World China in October in Shenzhen, Guangdong province, as well as the China International Cleanser Ingredients Machinery and Packaging Expo in November in Nanjing, Jiangsu province, this year.

Since made-in-China vehicles are gaining more popularity both in domestic and overseas markets, Jones said that automotive manufacturing, especially advancements in new energy vehicles, internet-connected vehicles, auto electronics, smart cockpits and autonomous driving, has been an exciting application industry that the company is interested in. The sector is expected to drive exports and serve as a major pillar of the country's economic growth.

With a large number of Chinese companies rushing to participate in various trade fairs across the world since late last year, Jones said that one of the key values of trade shows is to have both suppliers and buyers meet and do business more efficiently and effectively. This value is particularly important for its international customers, as most of them are small and medium-sized enterprises.

"These moves will continue contributing a boost to China's foreign trade given the huge number of SMEs, a wide range of industry sectors and the variety of host countries and regions RX shows cover," he added.

As the Regional Comprehensive Economic Partnership pact has created favorable conditions to spur foreign trade and investment activities, Jones said companies from signatory countries will have more demand to participate in various trade shows in the Asia-Pacific region in the years ahead.

Zhao Ping, vice-dean of the academy of the Beijing-based China Council for the Promotion of International Trade (CCPIT), said that the recovery of China's convention and exhibition industry this year has generally exceeded market expectations, as evidenced by the positive effects of trade fairs in various industries.

For instance, a total of 184 exhibitions were held at professional venues in China in the first two months of this year, soaring 110 percent on a yearly basis. The total exhibition area was 3.66 million square meters, up 62.3 percent year-on-year. Among them were 78 large-scale exhibition events with an exhibition area of over 10,000 sq m, a year-on-year growth of 160 percent, the Ministry of Commerce said.

As of the end of March, the CCPIT received 519 applications from domestic organizers for overseas exhibitions this year. These trade fairs will be held in 47 countries, including the United States, Germany, France, Japan, Thailand and Brazil.