U.S. businesses at CIIE expect promising prospect in China

SHANGHAI, Nov. 7 -- As a window for China to open up wider to the world, the China International Import Expo (CIIE) offers global businesses golden chances to expand cooperation and presence in China, said Dylan Lu, general manager of U.S. health food firm Athletic Greens (AG).

The company is among the 17 exhibitors, led by the U.S. government for the first time, to co-establish the U.S. Food and Agriculture pavilion at the CIIE, which witnessed the largest U.S. presence in the expo's history since 2018, attracting more than 200 U.S. businesses and exhibitors.

The U.S. business community and high-level officials participating in the CIIE have expressed strong willingness to foster partnerships and strengthen bonds with their Chinese counterparts, casting a vote of confidence to China's long-term development.

Noting that he is the first U.S. ambassador to attend the CIIE, U.S. Ambassador to China Nicholas Burns said the large-scale U.S. presence at the expo showed America's commitment to the overall bilateral ties and interest in "a more stable and productive" trade and economic relationship with China.

"We felt it was very important for the United States to be present in Shanghai for economic reasons and reasons to do with our wish to have a productive relationship with the People's Republic of China," Burns told Xinhua at the U.S. pavilion, adding that "two-way trade is expanding in very important areas across the board of our economy."

EXPANDING PARTNERSHIP VIA CIIE

Since entering the Chinese market in 2019, Athletic Greens has been seeking to expand operations with its star products featuring nutritional supplements and ingredients.

"Through the CIIE, global enterprises can see China's vast middle-class market and the continuously evolving consumer demand, encouraging companies to introduce more high-quality products and services in the Chinese market," Lu told Xinhua.

"With AG's continuous expansion in China and recognizing the development potential of Chinese health food, our participation in this year's CIIE is a clear demonstration of AG's commitment to deepening our presence in the Chinese market," he stressed.

Similarly, U.S. biopharmaceutical company Allergan Aesthetics also demonstrated its determination for long-term development in China during the CIIE, in which it participates for the third time.

Specializing in medical aesthetics, the company has been displaying brands in the three major fields -- facial aesthetics, body contouring and skincare -- with more than 10 high-end products.

Among them, a skincare brand of anti-aging management will be transformed from exhibit to commodity in China after the expo, Ethan Qiu, general manager of Allergan Aesthetics China, told Xinhua.

In addition, Allergan Aesthetics has forged strategic cooperation in innovation, industry formalization and doctors' education with heavyweight Chinese partners, including Hainan Boao Lecheng International Medical Tourism Pilot Zone, China Aesthetics and Plastic Association, and China Association of Non-public Medical Institutions.

"China has become the largest market outside the United States for Allergan Aesthetics, and our business development is inseparable from China's economic sustainability and the steady growth of demand for medical aesthetics," Qiu said.

For U.S. pharmaceutical company Organon, the CIIE stands as "a unique platform for unlocking new opportunities and establishing partnerships," said Zafer Unluer, senior vice president of Organon and president of Organon China.

With a focus on women's health, the company is actively implementing local business strategies, broadening patient access within China, and fostering growth by partnering across sectors to support China-driven innovations.

As a core in the global supply chains, China is not only an important source of investment and talents, but also a growth driver for multinational pharmaceutical companies, Unluer said.

"We are proud to attend the CIIE again where we see the transformation of innovative exhibits into commercial successes through positive spillover effects," he noted, adding that Organon benefits from China's further opening up, favorable business environment, and rapidly growing healthcare industry.

BULLISH ON LONG-TERM DEVELOPMENT

The pharma remains confident about the prospect of the Chinese market, Unluer said, adding that with a consistent commitment to opening up, China continues to show vitality and increasing prosperity, thanks to openness, inclusiveness and connectivity.

"China is the world's second-largest market of Organon, and we will continue to increase investment in the Chinese market," he said, pointing to a promising future for multinational companies operating in China.

In late October, global financial institutions, including J.P. Morgan, Citigroup and UBS, raised their 2023 growth forecasts for China, after the country's economy reported a growth rate of 4.9 percent year on year, a faster-than-expected pace, in the third quarter.

Citigroup expected China's gross domestic product (GDP) to grow 5.3 percent in 2023 from 5 percent earlier, while UBS, a Swiss banking giant, raised its estimate to 5.2 percent, 0.4 percentage points up from earlier.

Allergan Aesthetics also voiced optimism about its future development in China and the prospect for U.S.-China trade and economic cooperation.

The company has also leveraged the CIIE as a bond and platform for joining hands with partners to promote the continuous innovation and formalized development of China's medical aesthetics industry, so as to empower its future, Qiu emphasized.

With a robust presence of nearly 30 years in China, U.S. chip manufacturer Qualcomm stays confident in the resilience and long-term sound momentum of the Chinese economy, and expects to further enhance cooperation with Chinese partners.

The U.S. chip manufacturer views the CIIE as an effective channel to better communicate with local governments, industries and other relevant parties, as many local governments take the platform of the CIIE to share local industrial policies and tech development directions, said Frank Meng, chairman of Qualcomm China.

"Qualcomm has witnessed and participated in China's reform and opening-up process, and thrived together with China's mobile communication industry," Meng told Xinhua, adding that Qualcomm is confident in the future development of the industry.

"China has been vigorously promoting the development of innovative economy, and the entire society has been increasingly aware of respecting innovation and protecting intellectual property rights," he noted.

Over the years, Qualcomm's close strategic cooperation with Chinese enterprises has enabled the company to lead in global competition, Meng said, voicing confidence in the future development of China's mobile communication industry.

Source: Xinhua