Global firms join first China International Import Expo

World
Europe

A group of 22 leading companies from 13 countries and regions signed contracts on Monday to take part in the first China International Import Expo (CIIE) to be held in November in Shanghai.

More than 1,600 enterprises from about 120 countries and regions have applied to join in the exhibition and over 600 have already signed contracts.

Whirlpool will bring advanced products, especially its home appliances to the CIIE, Lin Na, the Branding Director of Whirlpool China said at the signing ceremony.

Frede Juulsen of Arla Foods said the expo will benefit his company and everyone who trades with China.

“I believe for everybody who wants to do trade with China, this (is) perhaps a landmark, a new step for improving the trade between the companies like us and our partners in China.”

CIIE is fully prepared to protect the exhibitors' intellectual property rights.

“Before the expo, we will inspect the intellectual property rights of the participating enterprises to ensure their products have IPR in China. We will also establish a service center to take care of IPR complaints and disputes during the expo,” said Wang Chen, the Head of Legal Affairs of CIIE Bureau.

As a firm supporter of free trade, China has been carrying out opening-up policy for 40 years.

In May 2017, Chinese President Xi Jinping announced at the Belt and Road Forum for International Cooperation that China will hold CIIE starting from 2018.

As the second largest importing country and consumer country in the world, China is expected to import more than 10 trillion US dollars of goods and services in the next five years. This expo aims to provide more access and opportunities to global producers.

“It sends the signal that China’s open for business, China wants these investors and manufacturers coming to the market,” said the Industry Relations Manager of UL LLC, Sean Decrane.

“It’s a big statement, a statement of the country, to further opening up and future reform to truly global and boost consumption,” said the CEO of L’oreal China, Stephane Rinderknech.

The first CIIE is divided into three major areas, Country Pavilions for Trade and Investment, the Enterprise and Business Exhibition, and Hong Qiao International Trade Forum.

About 150,000 international and domestic buyers are expected to attend the Enterprise and Business Exhibition.