Foreign firms gear up for annual import expo

With China creating more favorable conditions for foreign companies to grow their business in its lucrative and vast market, the annual China International Import Expo has become a magnet for exhibitors to debut their new products and technologies, said multinational executives.

They said these moves reflect the Chinese market's growing significance to the global economy as the country's dual circulation growth paradigm — in which the domestic and international markets complement each other, with the domestic market as the mainstay — has already taken shape.

Foreign companies like Decathlon, Ikea, Bosch and Roche Pharmaceuticals will display hundreds of new products, cutting-edge technologies and innovative services during the fifth CIIE, which will be held in Shanghai from Saturday to Thursday. Many of the participating firms are scheduled to make global debuts — both in Asia and China — according to information released by the CIIE Bureau, the event's organizer, earlier this week.

China is playing an ever-greater role in the global economy. Take the automotive industry as an example. This sector is leading the transformation toward electrified and connected mobility, said Chen Yudong, president of Bosch China, whose parent firm will be a five-time participant at the CIIE.

In addition to making the global debut of its latest driving solutions at the upcoming CIIE, the German company will unveil its 400-kilowatt fuel cell system test bench and full redundant electrical hydraulic steering system for heavy commercial vehicles, both of which have yet to be launched in Asia.

With the outdoor activities market growing fast in China over the past two years, Decathlon, a French sporting goods retailer, will launch the global premiere of its new eco-design mountain bikes for both teens and adults at the CIIE, as well as bring a number of innovative products to China for the first time, meeting consumer needs for home fitness, outdoor camping, kite surfing and other emerging sports scenarios.

Pascal Bizard, senior vice-president of Decathlon China, said the CIIE has helped the company's development in China over the past few years. China is Decathlon's first overseas market outside its home market with a whole industrial chain presence.

Woody Guo, senior vice-president of Herbalife Nutrition, a United States-based global nutrition company, said as a window for China to continually promote its high-level opening-up, the CIIE provides a high-standard platform for multinationals like Herbalife to introduce their products on a global stage.

Herbalife Nutrition will make the global debut of its DHA omega-3 gummies and launch its fish oil softgel supplement, another new product to be featured in China during the grand event.

"We are highly confident in the long-term prospects of the Chinese market and will continue to increase our investment in product innovation, digital transformation and personalized nutrition in China," Guo said.