CIIE promotes mutual benefits of China and overseas businessmen

en.sww.sh.gov.cn | Updated:Dec 13, 2019

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A pair of pink diamond-made high heels attracts public attention during the second China International Import Expo in Shanghai on Nov 6, 2019. [Photo by Zhu Xingxin/chinadaily.com.cn]

It is only one month since the closing of the second China International Import Expo (CIIE), and the pink diamond-made high heels which attracted a lot of attention during the expo have already been placed in the world's first jeweled shoe concept store on the Bund in Shanghai.

Official data show that the value of orders and transactions during the first CIIE reached $57.83 billion, and in the second one was $71.13 billion.

Since the first CIIE in 2018, many foreign goods exhibited in the CIIE have gone into production across China.

For instance, the fodder production lines of Zhengbang Group in Jiangxi province adopted methionine and yeast from France, and lysine from South Korea. According to the company, the imported raw materials were the result of the two import expos.

"Although we have had contact with overseas high-quality suppliers before, the expo enables enterprises to communicate with each other face to face, which makes it more convenient to offer deals," said Huang Guoqiang, purchasing manager of Zhengbang Group, which participated in the CIIE for two consecutive years.

In addition, the CIIE enables a large number of foreign businessmen to expand their business in China.

Panasonic Corp, for example, recently once again increased its investment in China. The corporation invested $40 million to establish a company in Jiaxing, Zhejiang province, focusing on intelligent kitchen products.

Tetsuro Homma, Panasonic Corp's chief executive officer for China and Northeast Asia Company, said the two sessions of the expo made Panasonic more aware of the opportunities in the Chinese market.

"In April, we launched the China and Northeast Asia Company, the first time in a century that Panasonic has moved decision-making power from Japan to overseas markets," said Homma.

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