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The event, focusing exclusively on imported goods and services, will feature 3,000 companies from more than 130 countries and regions. Among them, US companies will cover areas such as high-end manufacturing, smart equipment, agricultural products, culture and sports.
"US companies were not lacking interest in the Chinese market.In the contrary, the appetite was great to understand and grow in the market," said Sourabh Gupta, principal investigator at the Institute. for Institute for Washington China-America Studies, in a recent interview with Xinhua.
GINSENG CHIPS
For the giant US companies that have been developing in China for decades, the exhibition is an important platform for showcasing their technologies and services and for gaining an even larger share of China's transformational economy.
Qualcomm, a global leader in wireless technologies based in San Diego, California, is one of the first US companies to confirm its participation at the show.
"We hope to bring innovative technologies, products, and services to our Chinese partners through the CIIE, and reveal the vision and value of the new era of communication," said Frank Meng, president of Qualcomm China.
Qualcomm, which entered the Chinese market in the 1990s, has expanded its collaboration with local partners in areas such as mobile telephony, connected vehicles, the Internet of Things and integrated circuit manufacturing. It has set up joint innovation centers in Nanjing, Chongqing and Qingdao to give startups more power and support the growth of the industrial chain.
"The development of the Chinese market has given Qualcomm unprecedented opportunities," said Meng.
China is expected to import $ 10 billion worth of goods and services over the next five years, according to the Chinese Ministry of Commerce. For example, by 2025, smart logistics will exceed 1 trillion yuan (143.8 billion US dollars), according to the China Federation of Logistics and Purchasing.
Honeywell, a Fortune 100 company, which established its first franchise in Shanghai in 1935, also sees great growth opportunities in China's national agenda, including innovation-driven industrial upgrading and green development.
"Through the ITCE, Honeywell will introduce a series of high-tech connected technologies to support the burgeoning digital economy in China," said Shane Tedjarati, president of Honeywell Global High Regions.
China is Honeywell's largest market outside of the United States and is also the largest contributor to Honeywell's growth, said Tedjarati, adding that the company is now "very much aligned with" China's Internet Plus strategy. .
For smaller US companies with less knowledge of China, the CIIE serves as a window for them to explore and better understand the business environment.
Horacio Licon, Vice President of the Greater Houston Partnership, an economic development organization serving the Houston, Texas area, leads a team of 15 delegates in Shanghai. They represent 12 companies covering various sectors such as technology, manufacturing, energy and logistics.
Ten innovative companies from Wisconsin, which will be part of the Foxconn Innovation Pavilion, will showcase the key industries of the Midwest State, including its advanced freshwater technology.
Meanwhile, Wisconsin ginseng products will be on display to appeal to Chinese customers. Statistics show that there are about 180 ginseng farms in Wisconsin that produce about 1 million pounds (453,000 kg) of ginseng each year, and that about 70% of the production has been exported to China.
ESSENTIAL MARKET
The six-day ICIE is a symbol of win-win cooperation that China has long defended in the treatment of foreign relations, said Robert Kuhn, Chinese expert and chairman of the Kuhn Foundation, in a recent interview with Xinhua.
"For a lot of companies, especially in technologies and new areas, being in the Chinese market is not an option – it's essential for them," he said. declared.
"China is in most regions, the world's largest market, or will become the largest market in the world and no company in the world can afford to be out of the Chinese market," Kuhn said. .
China now has 400 million middle-income people, which leads the world and continues to grow rapidly.
According to the Doing Business 2019 report: Training for Reform of the group released Wednesday by the World Bank, China now ranks 46th in the world rankings, with more than 30 places compared to last year, while the government continues its efforts to create favorable conditions for private companies.
According to the report, China ranks among the top 10 players in improving the business environment this year, given the consistent openness of authorities and economic reform.
"There are very few sectors in the future where companies can and will be competitive globally or even in their home country, if they are not in the Chinese market, in touch with the latest trends or trends. " problems or challenges, "Kuhn added.
Open Commerce
For US companies doing business with China, trade tensions between the US and China are really "a distraction," said Kuhn.
"They are not satisfied, they really do not want to deal with the problems of the biggest macroeconomic, political, economic or geopolitical affair.They only want to deal with the fundamental details of their own business.And to be successful, they have to to be present on the Chinese market, "he explained.
"Only those of us who are most directly affected, pork producers, wheat producers, cotton and peanut producers … We are all just beginning to understand that this reality is and that it will affect us directly, "said Randy Hudson, a pecan producer in Georgia's largest producing state.
Hudson sold more than 20 million dollars worth of pecan to China each year before the adoption of tariff measures for no consideration. On July 6, the United States added a 25% tariff on Chinese goods worth 34 billion US dollars. Beijing reacted in the same way by hitting US products, including pecans.
"US suppliers and their customers in China are hoping that current duty rates will be short-lived," said Rose Braden, president of the Portland-based Softwood Lumber Export Council. l & # 39; Oregon.
Braden's board is part of the 12-member CIIE delegation headed by the Council of Sister Relations between Oregon and China.
"It is particularly important, given the current trade situation, that US trade organizations and suppliers participate in trade shows and delegation missions to China to show their Chinese colleagues that their suppliers are engaged in our partnerships in China. long term, "said Braden.
"China does it (CIIE) for its own benefit and that of its own industries and people," Kuhn said.
"Obviously, the main interest of the (Chinese) government is to raise the standard of living of the people," he said, adding that inviting his competitors could also force Chinese companies to raise their level of play.
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