Global companies join hands with China to invest in the future

SHANGHAI, Nov. 10 (Xinhua) -- Thousands of companies from across the world have gathered at the seventh China International Import Expo (CIIE) in the country's eastern metropolis of Shanghai, demonstrating their latest products and technologies while sharing their visions for investing in the future.

With a theme of "New Era, Shared Future," the six-day expo, which closed on Sunday, attracted some 3,500 global exhibitors from 129 countries and regions. It saw a total of 80.01 billion U.S. dollars' worth of tentative deals reached for one-year purchases of goods and services, an increase of 2 percent from that of last year.

A panoramic drone photo taken on Nov. 2, 2024 shows the National Exhibition and Convention Center (Shanghai), the main venue for the 7th China International Import Expo (CIIE), in east China's Shanghai. (Xinhua/Liu Ying)

This year's expo is both futuristic and future-oriented. From tires for lunar exploration vehicles to motor-powered shoes and machines that can remove odors and decompose bacteria in the air, a dazzling array of life-changing technologies and products have demonstrated the willingness of global companies to join efforts with China to create a better future for humanity.

"We firmly believe that investing in China is investing in the future," said Eric Chung, CEO of Nippon Paint China.

Statistics show that over 400 new products, technologies and services have been showcased, spanning sectors including artificial intelligence (AI), new materials, autonomous systems and energy transition technologies.

BUILDING ON THE PAST

The shared expectations for the future are based on a long history of cooperation. Many of the CIIE's exhibitors, having been in the Chinese market for decades and in some case over a century, have highlighted their deep connection with China while reaffirming a strong willingness to further tap into the vast Chinese market.

Visitors watch the high performance challenge demonstration of a control cabinet at the booth of ABB at the exhibition area of Intelligent Industry and Information Technology during the 7th China International Import Expo (CIIE) in east China's Shanghai, Nov. 6, 2024. (Xinhua/Zhang Cheng)

During the expo, Siemens Energy exhibited a model of its power-generation unit for the Shilongba hydropower plant, China's first hydroelectric plant launched in 1912, which is still in operation.

The company also exhibited a wide range of green technologies, including hydrogen production and carbon capture technologies, and wind turbines.

The German energy transition giant is looking to explore market opportunities in China as the country has been accelerating the energy transition to meet the dual carbon goals of peaking carbon emissions by 2030 and attaining carbon neutrality by 2060.

China's dedication to building a modern energy system creates "extensive market opportunities" for global energy technology companies, said Christian Bruch, president and CEO of Siemens Energy AG.

At the booth of Toyota, a 1964 Toyota Crown model was showcased, symbolizing the brand's first entry into the Chinese mainland market 60 years ago.

The Japanese carmaker mostly showcased green vehicles -- all-electric vehicles, hybrid vehicles and hydrogen-powered heavy-duty trucks -- as it caters to changes in consumer demand in the world's largest automotive market.

Toyota also put on show an eye-catching pure-electric robotaxi concept car, developed in partnership with Chinese autonomous driving startup Pony.ai.

Xu Yiming, brand communication department director of Toyota Motor (China) Investment Co., Ltd., said the CIIE is not only an event to showcase the latest technologies, but also a platform to exchange ideas.

This photo taken on Nov. 6, 2024 shows a new generation of the small incision lenticule extraction robot from Zeiss during the 7th China International Import Expo (CIIE) in east China's Shanghai. (Xinhua/Fang Zhe)

German optical systems giant ZEISS Group, which has participated in the CIIE for seven consecutive years, has been in the Chinese market for 67 years.

"Since entering China 67 years ago, ZEISS has always had confidence in China's potential," said Maximilian Foerst, president and CEO of ZEISS Greater China.

"China is the largest single market for ZEISS globally since 2021, and we continue to deepen our localization strategy," said Foerst, citing the launch of its research and development (R&D) and manufacturing site in Suzhou and its quality excellence center in Dongguan earlier this year.

INVESTING IN THE FUTURE

For many, investing in China is investing in the future, because the country not only boasts huge and robust market, but is also experiencing a boom in the development of new technologies amid a high-quality development drive with an emphasis on innovation.

People visit the booth of Amore Pacific at the Consumer Goods Exhibition Area during the 7th China International Import Expo (CIIE) in east China's Shanghai, Nov. 7, 2024. (Xinhua/Zhang Cheng)

Many multinationals believe that their investments in future technologies and their vision for the future are very much in line with China's strategy of industrial upgrading and developing new quality productive forces.

At the booth of Swiss engineering and automation giant ABB, robotic arms, with a path accuracy down to 0.6 mm in fast movement, wowed visitors with high-speed and accurate motion control involving fragile wine glasses.

With scores of digital and smart solutions for smart energy, smart manufacturing and smart cities on display, ABB said it is better positioned to support China's energy transition and industrial upgrade.

"We see opportunities in new markets opened up by AI. Robots can do things that they could not do before," said Marc Segura, global president of ABB Robotics Division.

Vertaxi, an electric vertical take-off and landing (eVTOL) aircraft startup attending the expo, has signed a tentative deal with SPDB Financial Leasing for 100 M1 electric aircraft worth over 1 billion yuan.

Artists perform at the Kazakhstan Pavilion during the 7th China International Import Expo (CIIE) in east China's Shanghai, Nov. 6, 2024. (Xinhua/Zhang Keren)

Yue Tingting, vice president of Vertaxi, is very bullish about China's low-altitude economy and even envisages a future where people will be able to board eVTOL aircraft for daily commuting, much like taking a taxi or bus.

According to Michael Bi, managing partner of EY Greater China Markets, the exhibition, forums and deals signed at the event will further encourage Chinese and foreign enterprises to carry out technological cooperation and exchanges in new quality productive forces.

Kazakhstan's National Qilseed Processors Association has set up an e-commerce live-streaming studio in the Kazakhstan national pavilion to promote the central Asian country's goods, including wines, edible oils and flour.

"During this year's CIIE, we are livestreaming for the first time," said Yadykar Ibragimov, chairman of the association. "The whole world is going digital, and as far as I know, China is better at it. This is the future."

(Reporting by Li Baojie, Wang Jian, Huang Zechen, Zhou Rui, Xu Xiaoqing, Zhang Zhongkai, Wang Siyuan, Guo Xiaoyu, Zhang Chenguang, Chen Aiping, You Zhixin, Tang Siqi, Liu Ying, Zhang Cheng, Fang Zhe and Zhang Keren)