Multinational corporations participating in the ongoing 7th China International Import Expo (CIIE) have commended China for its innovative opportunities and robust market demand, while showcasing their latest technological advancements at the event.
China's innovation ecosystem is attracting global businesses, as executives recognize its potential to fuel growth and drive the future of technology.
"This country was one of the first countries in the world to embrace marketplace for commerce. So marketplace is something that has been in this country for many, many years. And because of that, now you've got lots of leading innovation happening around commerce, like social commerce using digital products and technologies in a completely different way. And that's why this market is exciting for us. So for us, it's a chance to really try to take innovation to the next level. Because a lot of the basics are actually already there," said Anoop Sagoo, chief operating officer of the Asia Pacific branch of Accenture, a multinational professional services company.
"There are some sectors that we see there is a huge potential, biotech for instance. Belgium has a very strong knowledge in that sector and we know the expertise, the talents that we can find in China. So that can be a win-win solution situation for both parties," said Pascal Buffin, consul general of Belgium in Shanghai.
Other executives highlighted China's vast market potential, which has driven them to enhance their research and development efforts within the country.
"Actually, we already invested in one manufacturing site and one R and D center in Ningbo City starting five years ago. We are trying to bring more global leading vaccine development technology into China to meet this increasing market opportunity," said Feng Teng, general manager of Animal Health China, MSD, an American multinational pharmaceutical company.
"[For a] multinational business, you have to do business in China because this represents 18 percent of the world population. If you're going to be a true multinational company, you cannot ignore the 18 percent of your customers," said Gao Yong, vice president of China branch of Bayer, a German multinational pharmaceutical and biotechnology company.
Running from Tuesday to Sunday in Shanghai under the theme of "New Era, Shared Future," the 7th CIIE has attracted participants from 152 countries, regions, and international organizations to participate in its country exhibition and business exhibition.
Multinational companies at CIIE hail China for innovation, cooperation opportunities
Multinational companies at CIIE hail China for innovation, cooperation opportunities
