Driven by China's ongoing endeavors to optimize the business environment and the export surge of tech-intensive green products, the country's convention and exhibition segment will serve as a pivotal factor in bolstering exports and attracting foreign investment, said market watchers and industry players.
To date, China's exhibition industry has experienced a robust resurgence this year. A total of 1,947 exhibitions were held nationwide in the first half, marking a 3.9-fold year-on-year growth and a 13.9 percent growth compared to 2019, said the Ministry of Commerce.
Additionally, China saw total exhibition space reach 47.196 million square meters in the first half, a 4.7-fold growth year-on-year and a 24.9 percent increase compared to 2019.
To tackle challenges such as softening demand in many countries, the disruption of global supply chains, geoeconomic challenges and a decline in cross-border investment, the holding of trade fairs in key sectors is conducive to enhancing cooperation and sharing opportunities among businesses from various countries, said Lin Shunjie, board chairman of Beijing-based China International Exhibition Center Group Ltd.
To further unlock the potential of foreign investment in the domestic market amid current uncertainties shrouding the global economy, the China Council for the Promotion of International Trade, the country's top foreign trade and investment promotion agency, and China International Exhibition Center Group will hold the inaugural China International Supply Chain Expo in Beijing from Nov 28 to Dec 2.
Lin said the expo is expected to promote the organized and efficient interconnection of industries among countries and help build resilient global industrial and supply chains.
"Many foreign companies I have spoken to are quite pragmatic and looking to seize this rare opportunity. Many firms from the United States have mentioned the need to restructure their global supply chains after three years of COVID-19 disruptions, and it is impossible to neglect both the Chinese market and Chinese companies. This shows that the CISCE comes at just the right time," he said.
Messe Frankfurt, one of the world's largest trade fair and event organizers by sales revenue, will hold more than 40 business exhibitions on the Chinese mainland this year and 2024, respectively. Due to the impact of the pandemic, the German company managed to hold only 11 trade fairs in China in 2022.
China's fast-growing exhibition economy, ongoing green transformation, domestic companies' willingness to expand in global markets and the tangible benefits generated by the Regional Comprehensive Economic Partnership agreement offer many opportunities, said Wendy Wen, managing director of Messe Frankfurt (Hong Kong) Ltd.
Highlighting that businesses from industries such as auto parts, new energy vehicles, new materials, metallurgies, trade in services, garments and textiles are seeing soaring demand to expand sales and reinforce their brand awareness via participating in various business exhibitions, Wen said Messe Frankfurt will deploy more resources and technology solutions to hold trade fairs both on the Chinese mainland and in the Asia-Pacific region next year.
The Frankfurt-based group will organize several trade fairs and events on the Chinese mainland, including the International Exhibition for Musical Instruments and Services in October and the China International Stationery & Office Supplies Exhibition in November in Shanghai.
The London-headquartered RX, formerly known as Reed Exhibitions, will hold 75 business exhibitions across China this year to meet demand from local companies seeking to boost exports and better compete with global rivals.
Since made-in-China vehicles are gaining more popularity both in domestic and overseas markets, automotive manufacturing — especially advancements in new energy vehicles, internet-connected vehicles, auto electronics, smart cockpits and autonomous driving — has been an exciting application industry that the company is interested in, said Hugh Jones, CEO of RX.
The sector is expected to drive exports and serve as a major pillar of the country's economic growth, he added.
Qu Weixi, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that the exhibition industry inherently integrates the upstream and downstream segments of various industries, paving the way for a more comprehensive and upscale development trajectory.
Moreover, it serves as a vital bridge and connector within global industrial and supply chains, he said.
China will run big-ticket trade fairs such as the 134th China Import and Export Fair — Canton Fair — in Guangzhou, Guangdong province, in October, and the sixth China International Import Expo in Shanghai in November, said the Ministry of Commerce.
