Current location:Global Gazette news portal > entertainment
US firms voice confidence in China at CIIE
Global Gazette news portal2024-05-21 11:16:47【entertainment】0People have gathered around
IntroductionAn exterior view of the venue of the 6th China International Import Expo (CIIE) in East China's Shan
An exterior view of the venue of the 6th China International Import Expo (CIIE) in East China's Shanghai, Nov 5, 2023. [Photo/Xinhua]
United States-based companies are attending the sixth China International Import Expo, showcasing their eagerness to deepen cooperation with China amid gradually warming bilateral relations, according to corporate executives and experts.
With closer ties most widely expected in healthcare, agriculture and technology, the executives said China's increasing appeal for US companies will continue due to its robust domestic market and unwavering dedication to opening up its economy, despite globally subdued investment sentiment.
The scale of this year's expo, which runs through Friday in Shanghai, is the largest in the CIIE's history.
The strong presence of US businesses at the expo came after high-level exchanges between China and the US, and more efforts are likely to be made to promote interaction and cooperation between the world's two largest economies, experts added.
Stephane Bancel, CEO of the mRNA vaccine developer Moderna, said it was a "very important and historic day" for the US company, after Moderna announced that its research and production headquarters project broke ground in Shanghai's Minhang district on Monday.
The 3.6 billion yuan ($495 million) project, the first investment of the company on the Chinese mainland, is the largest foreign-invested biomedical project in China to date.
According to Bancel, the company is set to tap into the Chinese market by offering every patient personalized medicine, and it will conduct further clinical trials of its new medicines in the country. It took only a couple of months to materialize the strategic cooperation contract that Moderna signed with Shanghai authorities in July.
The US Department of Agriculture is also leading a delegation of 17 exhibitors at the CIIE.
Liu Chang, vice-president of Cargill Investments (China), the Chinese branch of the US agriculture and food company Cargill, said that "nearly one-fifth of Cargill's consumers are in China, and the country is an extremely important market for us".
"Whether it is raw materials or processed goods, China's vast consumer base provides a huge market for agricultural products, giving China a core position in the global agricultural supply chain," Liu said.
During the unveiling ceremony for a US agricultural product pavilion at the CIIE on Monday, US Ambassador to China Nicholas Burns said that economic and trade cooperation between China and the US is very important, and Washington does not seek to decouple from Beijing.
Bai Ming, a researcher at the Chinese Academy of International Trade and Economic Cooperation, said US companies' enthusiasm for the CIIE has demonstrated that there is more room for bilateral economic cooperation between the two countries, and further efforts can be undertaken to boost such cooperation.
Mutual respect and win-win cooperation are what companies from both sides want, Bai said.
Frank Meng, chairman of Qualcomm China, which is participating in the CIIE for the sixth year, said the US chip heavyweight sees huge opportunities in partnering with Chinese companies in 5G, artificial intelligence, internet of things and intelligent connected vehicles, as the company highlights its commitment to China.
"Qualcomm has consistently considered China as a pivotal business partner and valued customer, viewing it as more than just a market or a link in the supply chain," Meng said.
He added that in past years, smartphones that use Qualcomm's flagship mobile chips and were launched by Chinese companies accounted for nearly half of the initial launches worldwide. "This underscores the significance of the Chinese market and our partnership with Chinese companies," Meng said.
Puay Koon Chia, Asia-Pacific president of the US-based global materials science company Dow, said that the CIIE "is an important platform for us to showcase our latest innovative technologies for China and the region", and "it highlights the valuable partnerships we have in China".
The company signed a $300 million memorandum of understanding with ZKH Group, a Chinese digital service company, at the CIIE on Sunday. Under the cooperation, the two will tap into burgeoning silicone markets downstream, such as electrification, transportation, packaging and construction.
Address of this article:http://kenya.ekjotinstitute.com/html-69f999885.html
Very good!(4)
Related articles
- Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise
- Xi Focus: Xi Calls for More Achievements in Party's Theoretical Innovation
- Xi Stresses Higher
- Boundary question should be placed appropriately in China
- The government wants to buy their flood
- China launches new land
- China not to blame for prices
- Xinhua Headlines: Report on CPC's 'Second Integration' Theory Unlocks Understanding of China
- 'Constantly learning' Imanaga off to impressive start with the Chicago Cubs
- China Focus: E
Popular articles
Recommended
Ship that caused Baltimore bridge collapse has been refloated
3D printed storage box to further propel China's lunar mission
Nyingchi apples' first export to Nepal
Book on Xi's Thought on Boosting China's Strength in Cyberspace Published
The unstoppable duo of Emma Stone and Yorgos Lanthimos
China’s wisdom in taming desertification
In pics: Wuhu Mountain national forest park in Fujian
Teenagers in pastoral areas of Tibet attend taekwondo camp
Links
- Rory McIlroy says PGA Tour is 'worse off' without Jimmy Dunne on board
- Sofia Vergara, 51, poses up a storm in striking red off
- Cancer claims Iditarod champion Rick Mackey. His father and brother also won famed Alaska race
- US border arrests fall in April, bucking usual spring increase as Mexico steps up enforcement
- Biden cites erroneous inflation statistic to make his case about the economy
- Guatemalan court orders release of journalist jailed for nearly 2 years on money laundering charges
- Broadway's superstar couple Orfeh and Andy Karl announce split after 23 years of marriage
- Fat pride influencer who says other passengers should fund free seats for plus
- Colorado teen pleads guilty in death of driver who was hit in the head by a rock
- Cancer claims Iditarod champion Rick Mackey. His father and brother also won famed Alaska race