(CIIE) German companies cast vote of confidence in Chinese market

An exhibitor (L) introduces Siemens's hydrogen solutions model at the 6th China International Import Expo (CIIE) in east China's Shanghai, Nov. 5, 2023.  (Xinhua/Fang Zhe)

SHANGHAI, Nov. 10 (Xinhua) -- Many German companies have brought new products to the China International Import Expo (CIIE) in Shanghai for a sixth straight year, further casting a vote of confidence in the Chinese market.

Bayer attended the sixth CIIE with three divisions -- Pharmaceuticals (and Radiology), Consumer Health, and Crop Science, with a record booth area of 700 square meters.

Bayer inked cooperation agreements with local partners to expand its Chinese partnership network, fully demonstrating its confidence and determination to expand its presence in China.

"The CIIE has quickly and efficiently opened up channels between demand in the Chinese market and supply in the global market. It has also helped Bayer effectively develop channels to connect with the local government, industry partners, and consumers," said Gao Yong, vice president of Public Affairs, Science & Sustainability, Bayer China.

During the annual event, Bayer Pharmaceuticals signed an agreement to open a Bayer Co.Lab incubator in China, exploring in-depth cooperation with more local R&D institutions and innovative companies.

Six-time participant Karcher had a massive exhibition booth spanning over 800 square meters this year. Among the exhibits are three newly-launched products, two of which are independently developed by its Chinese team.

Since the first CIIE in 2018, Karcher has benefited from CIIE's spillover effects, increasing its investment in China year on year and continuously optimizing and upgrading its industrial layout.

So far, Karcher has made investments exceeding 2 billion yuan (about 279 million U.S. dollars) in China, accelerating the transition from being an exhibitor to an investor.

Bosch, a leading global supplier of technology and services participating in the event with dual booths for the sixth consecutive year, unveiled a range of smart and green innovations.

The Bosch booths highlighted its latest mobility solutions, the new generation of electric drive solutions, and hydrogen fuel cell solutions for the Chinese market.

To cater to local market demand for high-quality development, Bosch has continued to beef up its investment and R&D efforts in the Chinese market, with a total investment of 50 billion yuan over the past decade. In 2022, Bosch's R&D investment in China reached 10 billion yuan.

In March, Bosch broke ground on an R&D and manufacturing site for new energy vehicle core components and automated driving, with an investment of approximately 7 billion yuan, in Suzhou, east China's Jiangsu Province.

"Bosch's longstanding history with the CIIE serves as a testament to our unwavering commitment to investing and growing in the Chinese market," said Chen Yudong, president of Bosch China.

As an "old friend" at the CIIE, Bayer has always grasped the opportunities presented by the event and had already signed in for the 7th CIIE next year in September, Gao said.

Bayer will fully leverage its expertise in healthcare and agriculture, accelerate the introduction of innovative products and solutions and increase investment in local innovation and R&D to contribute to China's national initiatives such as Healthy China and Rural Revitalization, he said.

"CIIE provides Chinese and foreign companies an international open platform for communicating comprehensively and promoting technical innovations and industry development for the local market," said Chen.

"In the new journey of Chinese modernization, Bosch looks forward to fully leveraging our advantages of global resources and innovative technologies and working with more local partners for the quality life of Chinese consumers, and the high-quality development in various fields such as automobile, industry, and consumer goods in China."

Tang Xiaodong, president of Karcher Greater China, said that the successful import expo has demonstrated the strong resilience of the Chinese economy and strengthened their determination to continue deepening their presence in the Chinese market.