Multinational executives praise CIIE role for foreign companies in China

At a high-profile event held in Qingdao, Shandong province, senior executives from multinational corporations highlighted the vast potential of China's market and praised the role of the China International Import Expo (CIIE) in helping foreign companies expand their presence in the country.

Speaking at the 9th China International Import Expo Promotion and Roadshow and "Big Market for All: Export to China" Event (Shandong) on Monday, Cao Yang, global vice-president of Baker Hughes and president of Baker Hughes China, said the CIIE has served as an important platform for the multinational energy technology company to showcase its products and innovations.

"The CIIE not only provides opportunities for companies like Baker Hughes to expand cooperation in China, but also demonstrates China's commitment to high-level opening-up," Cao said.

He noted that China's enormous market demand, innovation vitality, and strong industrial capabilities have created broad development opportunities for businesses worldwide, further strengthening Baker Hughes' confidence in deepening its footprint in the country and serving Chinese customers.

Shandong province has become a key region for the company to strengthen its supply chain development in China, with its annual procurement volume in the province increasing by over 40 percent over the past three years, he added.

Li Ping, vice-president of BD Greater China, said the United States-based medical technology company is paying close attention to development opportunities in Shandong province. He noted that the biopharmaceutical industry has been identified as one of Shandong's strategic emerging industries during the 15th Five-Year Plan period (2026-30) and looked forward to further expanding the company's presence in the province.

The 9th China International Import Expo is scheduled to be held at the National Exhibition and Convention Center (Shanghai) from Nov 5 to 10 this year.

The promotion and roadshow event took place during the ongoing 7th Qingdao Multinationals Summit, which runs through Wednesday. The summit is expected to attract representatives from 357 multinational companies from 44 countries and regions.