Global innovators show confidence in Chinese market at Hi-Tech Fair 2023

The Chinese market remains lucrative for a substantial number of tech enterprises around the world, according to international participants of the China Hi-Tech Fair 2023, which concluded on Sunday in south China's Shenzhen.

Joined by more than 4,000 tech firms from over 100 countries and regions, the 25th China Hi-Tech Fair is the largest and most international installation in its history.

The schedule was tight and the venues were more crowded than expected, said a participant from Denmark, adding that the team had to print more leaflets mid-event to meet demand.

A newcomer from Portugal was amazed by China's sci-tech innovation power, especially the automation technologies. She said China's openness provided a chance for her to exchange ideas with the rest of the world.

A German representative said they have been a part of the fair since the first installation 25 years ago. He said the Chinese products were ready for international markets, too.

Statistics from the organizer showed that the total revenue of cross-border business at the fair exceeded 2.66 billion yuan ($370 million). Many international projects were signed between countries like China, Brazil, Russia, Serbia, Iran, Pakistan, Germany and the UK.

"It's called 'buy from the world, and sell to the world,'" Zhang Yansheng, lead researcher at the China Center for International Economic Exchanges, told China Media Group (CMG). "This year's fair served as a platform for international cooperation in tech and innovation."

Chinese hi-tech for the world

As a rising innovative power, China is providing more hi-tech products and services for the world.

A Shenzhen-based company producing precision motion control products told CMG that foreign companies are building high-end machine tools with their atomic clocks.

"I'm happy to see our products are being used to build and verify imported machines," said Peng Shengliang, founder of Zhenglong Weiye Technology, which made the country's first atomic clock-based time-grating sensor. "We were granted dozens of innovation patents and software copyright registrations for this product."

He told CMG that the sensor has a resolution of only 0.0006 degrees, which is precise enough to build spacecrafts.

"Hope we can push forward the 'made in China' products," Peng said.

Separately, the fair showcased a fixed-wing drone that can do vertical takeoff, which was independently designed and manufactured by a research institute based in Changchun, northeast China's Jilin Province.

The research team achieved normal takeoff and landing of the drone under an extremely low temperature of minus 40 degrees Celsius, an altitude of 5,500 meters and in strong winds up to force 7, thus breaking several performance limits for an unmanned aerial vehicle (UAV).

Read more: Fixed-wing drone capable of vertical takeoff unveiled at China High-Tech Fair

Strong industry chain in Shenzhen

As the host city of the China Hi-Tech Fair 2023, Shenzhen is a city of comprehensive and strong industrial chains that's ready to turn any innovative idea into real-world products.

The city's smartphone industry chain can build a phone every 28.5 seconds.

Part of the chain belongs to Honor, a Chinese smartphone brand spun off from tech giant Huawei. The firm has more than 8,000 researchers and over 100 labs in the Pingshan District alone.

Honor's manufacturing process and quality control methods can be shared with key partners to boost the industry chain, according to Zhao Ming, head of the company.

This mature and strong industry chain has been helping global innovators to speed up the iteration of products and can also help small enterprises to enjoy the latest manufacturing technology.

All in all, the 25th China Hi-Tech fair served as a display of China's innovative strength and more importantly, the country's determination to build platform for the global exchange of innovative ideas.