German enterprises urged to seize opportunities at China Import Expo

German and Chinese representatives sign a memorandum of cooperation at a promotion event for the seventh China International Import Expo (CIIE) in Stuttgart, Germany, June 5, 2024. (Xinhua/Jia Jinming)

STUTTGART, Germany, June 5 (Xinhua) -- Officials and business leaders from China and Germany on Wednesday highlighted the seventh China International Import Expo (CIIE) as a key gateway to the Chinese market. With 75 German companies already signed up, the expo offers substantial opportunities for trade and collaboration.

At a promotion event for the Expo held in Stuttgart, attendees urged German enterprises to actively engage and capitalize on the opportunities presented. The event attracted approximately 150 Chinese and German officials, business representatives, and trade delegates.

Wu Zhengping, deputy director general of the China International Import Expo Bureau, noted that preparations for the 7th CIIE were well underway. German enterprises are leading Europe in both the number of exhibitors and exhibition space, with 75 companies signed up for the event, occupying over 26,000 square meters at the venue.

During the event, the China International Import Expo Bureau signed a Memorandum of Understanding with the Academy of German Hidden Champions. This collaboration aims to facilitate the entry of specialized and innovative German enterprises into the Chinese market through the CIIE.

Zhai Qian, minister of economic and commercial affairs at the Chinese Embassy in Germany, highlighted the consistent participation of German companies and their significant booth sizes at the CIIE, which contribute to the event's diversity.

He expressed hopes for German enterprises to fully leverage the CIIE platform, showcasing Germany's strengths in traditional sectors such as mechanical manufacturing, automotive, and pharmaceuticals.

Zhai appealed German companies to explore collaboration opportunities in emerging areas including technological innovation, green initiatives, circular economy, and digital economy with Chinese counterparts, noting that such collaborative effort would foster new economic growth and advance Sino-German cooperation to higher levels.

Walter Doring, chairman of the Academy of German Hidden Champions, highlighted China's remarkable achievements in development and innovation, presenting new cooperation prospects for Germany.

Presently, more than 90 percent of approximately 500 leading German enterprises in the global market are engaged in partnerships with China. Doring underscored that collaboration with China is indispensable for any enterprise aiming to attain leadership in the global market.

Established in 2017, the CIIE functions as a platform for companies worldwide to explore trade opportunities in China and foster economic co-prosperity. The 7th CIIE is scheduled to be held in Shanghai on Nov. 5-10, 2024.

A promotion event for the seventh China International Import Expo (CIIE) is held in Stuttgart, Germany, June 5, 2024. (Xinhua/Jia Jinming)