As the sixth CIIE opens, several foreign enterprises express confidence in China and announce further investment in the country.
by YANG Shuhongji
The sixth China International Import Expo (CIIE) opened in Shanghai on Sunday, with foreign business announcing increased investment in China.
From potential to opportunity
Dr. Pavol Dobrocky, CEO of Boehringer Ingelheim, plans to invest over 4 billion yuan (US$550 million) in R&D in China over the next five years. After five years of participating in the CIIE, BI has seen 30 new products approved for use in China.
The CIIE has helped transform China’s market potential into new opportunities for global growth, said Dobrocky.
Platform for green, low-carbon technologies
The current exhibition again provides a platform for green and low-carbon technologies and environmentally friendly trade.
The world’s largest water pump manufacturer Grundfos has been at every CIIE, expanding its exhibition space year by year. Grundfos’ John Markmann said Grundfos will continue to invest in the country over the next decade: “We will increase our investments related to energy transition, and we are completing one of the largest investments in the global market.”
More sustainable tire
Michelin CEO Florent Menegaux has used this CIIE to debut a new, more sustainable, tire to the Asian market. Menegaux said: “The rapid development of the automotive industry has led to the growth of Michelin’s business in China, which has further solidified our confidence in investing in China.”
Menegaux believes that the Chinese economy is shifting towards higher-quality development: “High-quality development means a focus on innovation and sustainability. China has established long-term development plans for high-quality development, which inspires us to develop more sustainable products.”