(CIIE) Economic Watch: Seven-time attenders at import expo evolving with China

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https://english.news.cn/20241106/2386369c50cf495ebc106383bdbbd14c/c.html

Source: Xinhua

Editor: huaxia

2024-11-06 19:39:15

SHANGHAI, Nov. 6 (Xinhua) — At the Consumer Goods Hall of the ongoing 7th China International Import Expo (CIIE), the LEGO Group is using over 300,000 building blocks to demonstrate its seven-year commitment to this important global cooperation platform. The structure stands 4.75 meters tall, with a thematic design featuring a giant rainbow made of LEGO bricks flowing from an outsized LEGO mini-figure.

In 2018, when the first CIIE was held, the Danish company displayed a vivid mosaic made by over 100,000 LEGO bricks featuring Jinbao, the mascot of the CIIE, and introduced science, technology, engineering, art and mathematics (STEAM) courses for Chinese schools. This year, the company is highlighting the potential of play for innovation and its commitment to sustainability.

“Since the first CIIE, we’ve introduced 29 novelties at the expo, among which 19 sets are inspired by Chinese culture and traditions,” said Paul Huang, senior vice president of the LEGO Group and general manager of LEGO China.

The LEGO Group is one of the 186 firms and institutions that have appeared at the CIIE seven years in a row, and many of them have signed up for next year’s event.

The CIIE’s full-time attenders have stood witness to and benefited from the evolution of the expo and the Chinese market at large, and have continued to make adjustments so as to take advantage of emerging trends and markets.

At the first CIIE, global industrial technology giant Schneider Electric signed cooperation agreements primarily in the manufacturing and construction industries, but has since expanded to encompass various sectors, including oil and gas, infrastructure, commercial construction, life sciences, transportation, and water services and environmental protection.

As China develops new quality productive forces, innovative technologies are driving the transformation toward digitization and green low-carbon development, which have provided Schneider Electric with a broader space for development, according to Yin Zheng, Schneider Electric executive vice president managing China and East Asia.

Zhang Xiqiang, executive vice president of Nestle S.A. and CEO of Nestle Zone Greater China, said the company has observed that the Chinese consumer market is gradually entering an era of scientific and rational consumption. “The demand in the Chinese food industry continues to evolve, shifting from simply eating well and eating enough to eating healthily and seeking delight from the experience,” he said.

The Swiss company has brought over 420 exhibits sourced from 14 countries and nine major business units, covering niche markets including baby nutrition, health science, confectionery and pet care.

The Singapore Business Federation (SBF) has led a delegation of nearly 400 representatives from 44 Singaporean businesses, marking the SBF’s seventh year at the CIIE.

SBF CEO Kok Ping Soon said the federation is very encouraged to see that the companies are no longer limited to the food and beverage sector. “We are starting to see companies responding to China’s call for more high-quality investment in fields like biotech,” he said.

To mark its seventh consecutive participation, U.S. material-science giant Dow Inc. has brought the most robust lineup and planned for the most agreements signed at the event in its history at the CIIE.

“As we celebrate our 45 years of operations in China, we are looking forward to China’s continued opening up policies that will enable us to further strengthen our deep roots and grow alongside the Chinese economy,” said Kevin Kolevar, vice president of Dow Inc. ■

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