Foreign businesses see a reviving Chinese economy

2020-11-04 09:26:55CGTN Editor : Jing Yuxin ECNS App Download

Business leaders believed that China's economy is reviving and the coming China import expo will help foreign enterprises enter the Chinese market.

"It's really pleasing to see it (China) coming back, that the businesses restarting, the economy is restarting," said John Agwunobi, CEO of Herbalife Nutrition, which will be present at the coming third China International Import Expo (CIIE) for the third consecutive year.

"We are very pleased to see that the steps taken by President Xi Jinping had made a big difference in the economy. And we are very proud to be a part of this recovery," he commented.

Elton Huang, the Shanghai Office Lead Partner of PwC China, believes that the import expo taking place in Shanghai is a signal that the Chinese economy is back to normal, and also showcases a long-term trend of the global trade moving from west to the east in the future.

Huang also told CGTN that the CIIE showcases the potential of the market by providing international level import exhibitions. The platform helps to lower the entry barriers so that small and medium-sized overseas players can enter the market in a more efficient way.

The CIIE provided a valuable chance for his company to learn the latest products and technologies in the industry, according to  Agwunobi, adding that "the CIIE introduces us to many other importers and to our Chinese partners."

Huang viewed CIIE as a very unique opportunity to develop digitalization solutions to really focus on clients' demands. "During the post-COVID-19, digitalization will definitely speed up and CIIE will also help a lot of market players to be more focused on this specific sector."

Meanwhile, Agwunobi spoke highly of China's efforts to contain COVID-19, saying that the country's response to the pandemic has been quick and effective.

Companies operating in China managed to reopen and recover even as multiple parts of the world are still facing renewed threats from the second wave of infections, Agwunobi noted.

"The pandemic, for a while, impacted our businesses and many businesses across China negatively," said Agwunobi. But that pain from the lockdown was necessary before people can feel safe to normalize economic activities.

The third CIIE will begin on Thursday and last till next Tuesday. Despite the headwinds of the coronavirus, the exhibition area this year will be 14 percent larger compared with that of last year. About 70 percent of the Fortune 500 companies will be attending the expo with their latest offerings in the showcase.


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