China’s import expo draws more Fortune Global 500 companies, industry leaders

What the report says

China’s ninth International Import Expo opened in Shanghai on Thursday, with organizers and state media saying the event was drawing record participation from overseas companies and industry leaders. The expo is being presented as a major showcase for China’s push to widen market access and bring in foreign goods, services and technologies.

According to the report published by The Independent Uganda and sourced from Xinhua, more than 300 Fortune Global 500 companies and industry heavyweights were expected to take part, alongside more than 2,000 firms exhibiting at the event for the first time. Organizers said 4,142 overseas exhibitors from 148 countries and regions were set to attend, while 162 countries, regions and international organizations were listed to participate overall.

The report highlighted examples of long-time participants such as Novo Nordisk and lululemon, both of which are using the expo to introduce products and deepen ties in China. Novo Nordisk plans to show new diabetes medicines, while lululemon said the fair helps it build stronger relationships with customers and partners in China.

The CIIE has run since 2018 and is widely seen as a key platform for foreign companies seeking access to China’s consumer market. The article also noted that China’s imports grew in the first nine months of this year, which Beijing says supports domestic demand and industrial upgrading.