FILE PHOTO: An A2 milk sign is seen at the third China International Import Expo (CIIE) in Shanghai, China November 6, 2020. REUTERS/Aly Song/File Photo
Beijing: Driven by China’s ongoing endeavours to optimise the business environment and the export surge of tech-intensive green products, the country’s convention and exhibition segment will serve as a pivotal factor in bolstering exports and attracting foreign investment, say market watchers and industry players.
To date, China’s exhibition industry has experienced a robust resurgence this year. A total of 1,947 exhibitions were held nationwide in the first half, marking a 3.9-fold year-on-year increase and a 13.9% growth compared with 2019, said the Commerce Ministry .
Additionally, China saw total exhibition space reach 47.196 million sq m in the first half, a 4.7-fold growth year-on-year and a 24.9% increase compared to 2019.
To tackle challenges such as softening demand in many countries, the disruption of global supply chains, geo-economic challenges and a decline in cross-border investment, the holding of trade fairs in key sectors is conducive to enhancing cooperation and sharing opportunities among businesses from various countries, said Lin Shunjie, board chairman of Beijing-based China International Exhibition Center Group Ltd.
To further unlock the potential of foreign investment in the domestic market amid current uncertainties shrouding the global economy, the China Council for the Promotion of International Trade, the country’s top foreign trade and investment promotion agency, and China International Exhibition Centre Group will hold the inaugural China International Supply Chain Expo (CISCE) in Beijing from Nov 28 to Dec 2.
Lin said the expo is expected to promote the organised and efficient interconnection of industries among countries and help build resilient global industrial and supply chains.
“Many foreign companies I have spoken to are quite pragmatic and looking to seize this rare opportunity.
“Many firms from the United States have mentioned the need to restructure their global supply chains after three years of Covid-19 disruptions, and it is impossible to neglect both the Chinese market and Chinese companies. This shows that the CISCE comes at just the right time,” he said.
Messe Frankfurt, one of the world’s largest trade fair and event organisers by sales revenue, will hold more than 40 business exhibitions on the Chinese mainland this year and 2024.
Due to the impact of the pandemic, the German company managed to hold only 11 trade fairs in China in 2022.
China’s fast-growing exhibition economy, ongoing green transformation, domestic companies’ willingness to expand in global markets and the tangible benefits generated by the Regional Comprehensive Economic Partnership agreement offer many opportunities, said Wendy Wen, managing director of Messe Frankfurt (Hong Kong) Ltd. — China Daily/ANN
