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Shanghai nets range of multinationals

By WANG YING in Shanghai | China Daily Global | Updated: 2022-06-23 07:28

Expo attendance

Fully confident in the Chinese market, Brother Industries, a machinery and solutions company based in Japan, will continue developing in China and contribute to Shanghai's economic restoration and revitalization.

Preparing to resume business after the COVID-19 outbreak, Brother (China) will take part in the fifth China International Import Expo, or CIIE, in Shanghai in November.

Yin Bingxin, chairman and president of Brother (China), said: "Our company has gained a lot from the expo's spillover effect. This prompted our decision to participate in the expo, and we invite our business partners in China to join us at the event."

With China committed to opening-up and promoting global development, Shanghai has successfully held four CIIEs by attracting businesses from across the world. Foreign enterprises view the expo as a platform to showcase their products, technology and innovation.

DuPont, a science and technology company based in the US, is another active participant in the event. "We have confirmed our participation in the fifth CIIE, and we are planning to occupy a bigger booth this year," said Zhang Yi, president of DuPont Asia-Pacific.

"We have innovative solutions for mega trends in China, including new energy vehicles, renewable energy, environmental protection, electronics, 5G communications, and advanced manufacturing technology, among others," Zhang said.

Fujiwara, from Shiseido, said, "We showcase our technological and innovative achievements through the platform offered by the expo." The company is taking part in the event for the fourth consecutive year.

By the end of last year, more than 60,000 foreign enterprises were invested in Shanghai. The city is also home to 848 multinationals' regional headquarters, and as of the end of last month it had 512 R&D centers funded by foreign capital.

On May 29, Shanghai announced a 50-measure action plan to fully assist domestic and foreign enterprises to recover from challenges posed by the COVID-19 outbreak.

Xiang, from Ford, said that to ensure its production and supply chain stability in China and globally, the company contacted the Shanghai authorities, who provided prompt support and various solutions for Ford and its key component suppliers.

"To date, production at Ford's major suppliers in Shanghai has returned to more than 80 percent of the pre-pandemic level, greatly easing pressure on the global supply chain," Xiang said.

President Xi Jinping, in the keynote speech at the opening ceremony of the third CIIE in 2020, said: "As we often say in China, 'Those who do not make their way to the Great Wall are not true heroes.' Now, at a time of formidable challenges facing the global economy, it is imperative that we bolster confidence and courage to tide us over this difficult period together.

"China will join hands with all countries to create opportunities in opening-up, tackle difficult problems through cooperation, and foster a brighter future for humanity."

Zhong Nan in Beijing contributed to this story.

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