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French multinationals attracted by opportunities at CIIE to explore Chinese market

(Xinhua)    13:20, November 01, 2020

As the third China International Import Expo (CIIE) draws near, French multinationals told Xinhua that they are expecting to benefit from opportunities presented by this special event to better explore the promising Chinese market.

The third edition of the CIIE, the world's first import-themed national-level expo, is to take place on Nov. 5-10 in Shanghai. "The holding of (the) CIIE as scheduled sends a clear signal to the whole world -- a signal that China has recovered from the COVID-19 epidemic," L'Oreal Group CEO Jean-Paul Agon told Xinhua.

"It also shows China's determination to play a significant role in fuelling global development with openness and a spirit of mutual benefit," he added.

For the upcoming expo, L'Oreal will be the rotating chairman of the Enterprise Alliance Council, as well as the chairman of the Special Committee for Consumer Goods Industry.

"With a greater role comes greater responsibility," said Agon. "That is why we aim to work with all like-minded friends, from alliance and committee members, from government institutions, from local innovators -- no matter big platforms or startup fellows, and from consumers and the general public."

When publishing its half-year results report in August, L'Oreal said it has shown great resilience during the first half of 2020 amid the COVID-19 pandemic, and its performance in the Chinese mainland, with a 30-percent growth in the second quarter, was one of the decisive factors.

At the fair, the cosmetics giant will present more than 100 new blockbuster products and various cutting-edge tech innovations for beauty.

"Following the success of the 2nd edition, we are sure the 2020 CIIE edition will be even better," noted Agon.

Jean-Francois Palus, managing director of global Luxury group Kering, said that the CIIE presents an opportunity to create links with companies around the world, and make them better aware of Kering's know-how and creations.

Noting that China is a crucial part of Kering's sustainable development strategy, Palus said for the third CIIE, Kering will present its vision on the evolution of the luxury sector, in particular the role and responsibility of luxury in contributing to a more sustainable future for the fashion and textile sectors as a whole.

"Kering has been present in China for more than 40 years," he said. "China's current economic development has been accompanied by rapid changes in the expectations of Chinese consumers in terms of luxury, and we are more than ever committed to meeting their expectations in the most qualitative way possible."

French industrial group Schneider Electric is also an "old friend" of the CIIE.

Over the past four years, Schneider Electric has seen its R&D investments in China, the second largest market for the company, up by more than 15 percent per year.

This year, despite the uncertainty generated by the epidemic, its R&D investments in China continued to grow.

Holding the CIIE as planned in the context of the COVID-19 pandemic has special significance and will give new impetus to global economic development, said Head of Schneider Electric China Yin Zheng.

Believing that the digital economy will be one of the crucial driving forces for economic recovery in the post-pandemic era, Yin said the company will focus on "the simultaneous development of the digital economy and the green economy," hoping to explore more market opportunities at the CIIE.

Danone, a food multinational based in France, has participated in the two previous editions of the expo. This year, it will present around 40 new products to Chinese consumers at this fair.

"As a global economic and trade event, the CIIE provides an important window for companies to benefit from China's economic growth," said Danone Vice President Li Jian.

"Attracted by the opportunities of enormous market, of investment ... presented by the CIIE, we have become fans of this event," Li added.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Kou Jie, Bianji)

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