The China International Import Expo (CIIE) in Shanghai, held annually in November, has become a game-changer for multinational companies (MNCs), drastically speeding up the brand growth cycle that once took years. Experts highlight the expo’s evolution into a global platform for foreign trade, with MNCs now able to quickly introduce new products to the vast Chinese market, leveraging the event’s immense spillover effect.
Shiseido, the Japanese cosmetics giant, has experienced this accelerated growth firsthand. The company debuted several high-end brands, including The Ginza, Baum, and Effectim, at previous CIIEs, and these products quickly gained traction in the Chinese market. The Ginza brand even opened its first exclusive shop in Beijing and a boutique in Shanghai, marking its first presence outside Japan and in duty-free channels. Shiseido’s CEO, Toshinobu Umetsu, emphasized that China’s leadership in innovative technologies is key to capturing future growth opportunities, and the company plans to further invest in the country’s beauty market.
Premier Li Qiang, in his address at this year’s CIIE, pledged to further expand China’s opening-up policies, turning its massive market into global opportunities. He emphasized the importance of strengthening international economic cooperation and adhering to trade agreements, ensuring that the country remains a crucial part of the global economy.
Similarly, SAP, the German software and cloud giant, has doubled down on its efforts in China. Michael Locher-Tjoa, SAP’s Global VP for Greater China, underscored China’s importance as a key market for the company, especially in emerging sectors like new energy. Locher-Tjoa noted that as multinationals continue to invest in China, SAP is committed to supporting them in building sustainable businesses within the region.
The CIIE has proven to be more than just a platform for global trade; it has become an essential event where companies can rapidly scale their products in China, reflecting the country’s growing influence in global markets.