Senior executives from major multinational companies lauded the ongoing China International Import Expo (CIIE) as a vital platform to promote product innovation, voicing strong confidence and continued commitment to the Chinese market.
The eighth CIIE, running from Nov 5 to 10 in Shanghai, has attracted a record number of international exhibitors, reflecting their unwavering belief in China as a key growth market.
In interviews with China Media Group (CMG) at the expo, Nicolas Hieronimus, CEO of L'Oreal Group, and Sandeep Seth, chief growth officer and president of Tapestry International, both said their companies are eying significant and continuous business expansion in China.
"Investing in China is not new. We've already believed in this country and we believe in it for the future. So for the next 100 years, we'll be investing in China as we did in our new fulfillment center, as we do in our factory. We will soon have another new fulfillment center for luxury. And probably 100 years from now, in this very room, another journalist and another L'Oreal CEO will be talking about the strength of L'Oreal in China," said Hieronimus.
"China is a top priority for us, so we are expecting to more than double our business in China in the coming years on that. In the recent 15th Five-Year Plan, we heard about the plans on how China's government plans to fuel consumption growth, especially with a rising middle income group and I think that's a perfect fit for Coach and Tapestry brands. So we're going to really tap into that opportunity. We continue to significantly invest in China," said Seth.
According to the Chinese Ministry of Commerce, the 8th CIIE has set a new record in scale, attracting the participation from 155 countries, regions and international organizations, with 4,108 overseas exhibitors and a total exhibition area of over 430,000 square meters.
Both company executives confirmed that the event has fueled innovation, emphasizing that investing in China means not only access to a vast market, but also harnessing ever-shifting consumption patterns and digital development trends.
"All these products have been developed with a strong collaboration with our R and D teams in Pudong. All of them have been definitely made for China and most of them have been made in China before they take on the world. China is a huge market. It's our second market worldwide, but it's a fantastic innovation hub. So for us being here, first of all, is a symbol of our commitment to China, but it's also a good stimulus for our teams because they know that every year they have to come up with great ideas and new products because they know we're going to be here at CIIE. So for my teams, they know that from tomorrow morning they're already working on next year's edition to make sure they come up with great innovation," said the L'Oriel CEO.
"Now once these things work, we take them across the world, on that be from a product point of view, be it from a store experience point of view. There's a lot of digital innovation that's happening in China and I would say Chinese consumers are adopting digital ways faster than the rest of the world. So we see trends that start here become global trends on that. And we continuously take those trends from China to elsewhere," Seth said.
Global executives eyeing more investment in China at import expo
Chinese Foreign Minister Wang Yi said on Tuesday that mediation efforts of the Pakistani side regarding the Middle East tensions are in the common interests of all parties.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in his talks with Pakistani Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar in Beijing.
During their talks, the two sides exchanged views on current international issues and regional conflicts.
Wang welcomed the visit of the Pakistani side to Beijing for discussion on easing tensions in the Middle East, just after its holding of a quadrilateral foreign ministers' meeting in Islamabad.
He said China supports and looks forward to Pakistan playing a unique and important role in easing the situation and resuming peace talks. This process is no easy task, and Pakistan's mediation efforts are in line with the common interests of all parties, Wang added.
He noted China is willing to make joint efforts with Pakistan to end the hostilities as soon as possible, create opportunities for peace and open the window for peace talks.
On bilateral ties, Wang said this year marks the 75th anniversary of the establishment of diplomatic relations between China and Pakistan, calling on both sides to implement the important consensus reached by the leaders of the two countries and constantly advance the building of a China-Pakistan community with a shared future.
For his part, Dar said the Pakistan-China friendship is precious and deeply rooted in people's hearts, adding that Pakistan is willing to work with China to promote the continuous development of the all-weather strategic cooperative partnership between the two countries.
Dar thanked China for supporting Pakistan's mediation of the situation in Iran, adding that the current conflict has disrupted international energy supplies and caused heavy damage to developing countries.
Noting that solutions can only be found through negotiation, Dar said Pakistan is willing to strengthen communication and coordination with China to push all parties to start peace talks as soon as possible and restore regional peace.
The two sides also put forward a five-point initiative for restoring peace and stability in the Gulf and the Middle East region:
I. Immediate cessation of hostilities: China and Pakistan call for immediate cessation of hostilities and utmost efforts to prevent the conflict from spreading. Humanitarian assistance must be allowed to all war-affected areas.
II. Start of peace talks as soon as possible. Sovereignty, territorial integrity, national independence and security of Iran and the Gulf states should be safeguarded. Dialogue and diplomacy is the only viable option to resolve conflicts. China and Pakistan support the relevant parties in initiating talks, with all parties committing to peaceful resolution of disputes, and refraining from the use or the threat of use of force during peace talks.
III. Security of nonmilitary targets. The principle of protecting civilians in military conflict should be observed. China and Pakistan call on parties to the conflict to immediately stop attacks on civilians and nonmilitary targets, and fully adhere to International Humanitarian Law, and stop attacking important infrastructure, including energy, desalination and power facilities, and peaceful nuclear infrastructure, such as nuclear power plants.
IV. Security of shipping lanes. The Strait of Hormuz, together with its adjacent waters, is an important global shipping route for goods and energy. China and Pakistan call on the parties to protect the security of ships and crew members stranded in the Strait of Hormuz, allow the early and safe passage of civilian and commercial ships, and restore normal passage through the Strait as soon as possible.
V. Primacy of the United Nations Charter. China and Pakistan call for efforts to practice true multilateralism, to jointly strengthen the primacy of the United Nations, and to support the conclusion of an agreement for establishing a comprehensive peace framework and realizing lasting peace based on the purposes and principles of the UN Charter and international law.
Pakistan's mediation efforts in common interests of all parties: Chinese FM
Pakistan's mediation efforts in common interests of all parties: Chinese FM
