MNCs use CIIE to boost growth opportunities

At the ninth China International Import Expo in Shanghai, multinational companies have announced increased investments in China, one of the most strategically important global markets for many businesses, further deepening their engagement and expanding localization efforts in the country.

Amid the current complex global economic and trade environment, such moves demonstrate the significant value of economic and trade cooperation with China for the business communities of many countries. This also reflects the resilience of bilateral economic and trade cooperation, experts said.

EssilorLuxottica, a global leader in eyecare and eyewear, announced during the ninth CIIE that following an investment of around 150 million yuan ($22.47 million) in the manufacturing site in Danyang, Jiangsu province, last year, the group will add a new round of investment in 2027.

The investment will cover pushing forward automation upgrades on the production line, improving full-process quality control, and continuously strengthening local smart manufacturing capabilities, ultimately boosting the high-quality development of the local optometry industry.

Kok Leong Lim, president of professional solutions at EssilorLuxottica China, said there will also be investment in research and development and in building eye health service systems.

"For example, in Shanghai, we hope to set up myopia prevention stations in the community to serve local children," he said.

Liu Ling, chief regional leader of Philips China, emphasized that the strategic significance of the Chinese market continues to grow. China is not only the second-largest market globally for the Netherlands-based company, but also a crucial supply chain hub and innovation engine, attracting the company to increase investments continuously, she said.

In August, Philips inaugurated its China R&D headquarters and Beijing innovation center, further establishing a research and innovation network centered in Beijing and linked with Shanghai, Shenyang in Liaoning province, Suzhou in Jiangsu province and Shenzhen in Guangdong province. The company also enhanced its investment in the Shenyang innovation center, pooling global computed tomography R&D resources to drive more innovations originating from China to the world.

"Philips has been an all-time participant in the CIIE. When looking at all nine editions of the event, the more noteworthy aspect is the enhancement of China's innovation capabilities and its evolving role in global innovation," Liu said.

Liu noted that this is also the core of the company's newly released China strategy: integrating local clinical needs earlier into product definitions, validating and iterating with Chinese clinical experts, and closely coordinating clinical, R&D, engineering, manufacturing and supply chain functions to accelerate innovation with China speed.

Herbalife, a Los Angeles-based health and wellness company, stated that over its nine years of participation in the CIIE, the company established a product innovation center in Shanghai in 2020, reaffirming its commitment to conducting R&D close to Chinese consumers. Last year, the facility was upgraded to a global product innovation center, further strengthening the position of the Chinese market within the company's global innovation network.

"As a global product innovation center, it not only develops products for the Chinese market, but also provides R&D support for markets in the Asia-Pacific region and Europe, including Malaysia, Indonesia, South Korea and Russia," Yang Lan, head of public affairs for Herbalife China, said.

The value of the CIIE has evolved from being a showcase to becoming a significant opportunity for promoting localization with global reach.

During this year's CIIE, held Nov 5-10, Herbalife unveiled the global debut of the China version of its health management digital platform. The platform leverages artificial intelligence and digital technology to cover the entire process from assessment and recommendation to planning and follow-up support, providing consumers with health management support that combines digital tools with the expertise of nutrition consultants.

zhouwenting@chinadaily.com.cn