CIIE 2023: China remains lucrative for int'l consumer brands

Editor's note: The sixth China International Import Expo (CIIE) is taking place in Shanghai from November 5 to 10. In his letter to the CIIE, Chinese President Xi Jinping emphasized that the annual expo has made a positive contribution to creating a new development pattern and promoting global economic development. As the world's second-largest economy, China offers new opportunities for the world in its modernization journey. To explain the concept of China's development, CGTN launched the "Chinese Modernization: Sharing Prosperity" series. In this episode, Tomas Kucera, Executive Director of the Czech Chamber of Commerce in Shanghai shares his thoughts on CIIE with CGTN's Sr. International Editor Abhishek G. Bhaya. Kucera is also the General Manager (China) of Gemini Personnel, a Hong Kong-headquartered China- and Asia-focused HR consulting and recruitment firm. It is important to note that the views expressed in the video are his own and do not necessarily represent those of CGTN.

Edited excerpts:

CGTN: What are your views on European participation at the China International Import Expo (CIIE) over the years, particularly at the ongoing sixth edition of the Expo?

Tomas Kucera: I have been to the Expo four to five times. I'm living in Shanghai, so every year, I try to go because you get to see the latest technologies and a lot of international brands that are doing business in China. I believe that the interest is continuing. For companies that focus on revisiting China, the Expo is one of the key showcases or marketing opportunities for them to come and display their latest technology. I would also say that one thing that I see in the Expo is  “in China for China.” This is a model that I have seen many times and heard many times at the Expo.

CGTN: After COVID-19, this is the first physical, big exhibition. So, is there a sense of optimism at the Expo?

Tomas Kucera: Yes, I would say there is [optimism]. There is a continuous hope to find opportunities in China and yes, I’m still meeting lots of people that are visiting, that are looking for opportunities and seeing how they can enter China or improve their business here. But in general, I am happy that Shanghai and China are back to normal life and the economy is moving forward. And so, we are all hopeful and all the companies are hopeful that they can grow their business in the Chinese market.

CGTN: You are in this business where you consult other potential investors or business people to come into China. So, what is that key element in China that you think is attractive to foreign businesses and investors?

Tomas Kucera: It (China) is clearly the largest market, in many industries. It has huge consumer potential, right? Even today, there's so much savings, pent-up savings that Chinese consumers are sitting on in their bank accounts. So, I believe it's all this. It's the potential consumer power and a chance to sell to Chinese consumers. This is probably one of the key things why many consumer brands will try to enter China. In other areas, I would also say that when it comes to technology development, as China is moving to the forefront of many industries, it's important for foreign brands to be embedded in the Chinese supply chains as they are going internationally.

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