Full speed ahead for integrating the district with global commerce
Minhang District is on a roll this year in efforts to establish its credentials as a major local player in trade and commerce. The recent second China International Import Expo added more glitter to the cause.
Lin Yi, director of Minhang’s economic committee, said the district organized 1,738 firms and 8,767 individual buyers willing to purchase foreign goods at the expo. In addition, the district provided volunteers for the event, and district hospitals offered first-aid and medical services.
Buyers from the district signed letters of intent to purchase foreign goods valued at 3.5 billion yuan (US$500 million) at the event, double last year’s volume. The agreements involved players that included Kao Shanghai Chemical Industries, Fiat Chrysler Automobiles, the 5th People’s Hospital of Shanghai, Fudan University and Miji Electronics & Appliances.
The Expo also provided local companies the chance to showcase their research and products, and potentially expand their markets. More than 50 Minhang-based companies had exhibits spanning technology, science, automotive, medical equipment and food.
To facilitate trade, the district sponsored a meeting where representatives from foreign companies could speak directly with district officials who included Governor Ni Yaoming and Deputy Governor Wu Bin.
The representatives came from companies that have long invested in the district, including US pharmaceutical and personal healthcare products giant Johnson & Johnson, which came in 1992; German heating solutions company Webasto, which entered in 2002; and Dutch lighting firm Signify, which came in 2015 when the company was still called Philips.
Webasto sponsored an exhibit showcasing its smart sunroof system for automated driving. It integrates a camera, radar and sensors used in self-driving vehicles, while maintaining a quality exterior design.
Johnson & Johnson exhibited a number of new products, from medical apparatus to cutting-edge lenses.
Japanese multinational Kao, whose Chinese headquarters is located in the district, brought new cosmetic products featuring superfine fiber technology.
Germany’s Miji, which announced it will locate its China headquarters in Minhang next year, displayed its latest heated dining table, featuring an element for cooking food.
Governor Ni pledged the district will continue to improve the business environment and focus on high-end manufacturing in its bid to attract more investment.
In the first nine months of this year, 523 foreign-invested companies set up operations in Minhang, up almost a third from a year earlier. Contractual investment totaled US$2.78 billion.
The more recent companies welcomed to the district, including Swiss building materials company LafargeHolcim, Japan’s V-Technology and South Korean conglomerate CJ Group, settled in the South Hongqiao Area, a 20-square-kilometer expanse of development land. The area, which combines transportation, commerce and residential communities, has already attracted 4,000 firms.
Wu Changping, director of Minhang’s Marketing Services Center, praised the expo as a platform that has provided ripple effects for the district. He said last year’s inaugural expo gave a boost to the Hongqiao commercial zone, which is now playing a bigger role in the national strategy of Yangtze River Delta integration.
The China International Import Expo, which ran from November 5-10, chalked up US$71 billion in intended deals, hosted more than 500,000 buyers and drew visitor numbers of 900,000.
It was part of China’s campaign to show the world that it is a trusted, major and growing player in world trade and commerce.
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