High-tech industrial companies taking part in the third China International Import Expo (CIIE) are optimistic about the Chinese market, planning new steps to meet the growing need for technologically advanced products.

Nearly 340 companies, including 60 Fortune Global 500 companies and industry leaders, have booths at the 70,000-square-meter Intelligent Industry and Information Technology exhibition in Shanghai from Nov. 5 to 10.

Hitachi ABB Power Grids, a joint venture between Japanese conglomerate Hitachi and Swedish-Swiss electrical engineering company ABB, is showcasing more than 10 innovative products and digital solutions in fields such as power, transportation and infrastructure.

Zhang Jinquan, executive vice president of the company, said that China's economy has shown sufficient resilience against the impact of COVID-19, and this year's CIIE, which takes place as scheduled, demonstrates the country's determination to build an open economy.

Zhang also said that the trade event has boosted the confidence of global enterprises in their development and provided a platform for them to discuss how to participate in China's fostering of a new development paradigm.

"Our hope is to introduce more of our technologies and products to China through the CIIE, as well as to support the country's energy transformation and sustainable development in the post-pandemic era," Zhang said.

According to a press release, Hitachi ABB has signed strategic cooperation agreements with many Chinese companies, including the China Gezhouba Group International Engineering Corporation, the China National Technical Import and Export Corporation (CNTIC), and the Power Construction Corporation of China (PowerChina).

Doosan Machine Tools, a leading manufacturer of CNC machine tools, has joined the CIIE for the third time. The company achieved exhibition contracts worth several million yuan at the previous two expos.

The biggest highlight of its exhibits this year is a 5-axis vertical machining center for processing high precision parts, according to Zhang Hongfei, assistant manager of Doosan's Shanghai branch.

In 2003, the South Korean company established a factory as a local corporation in Yantai, east China's Shandong province, and began manufacturing products tailored to the needs of Chinese customers in 2004.

Zhang Hongfei said that China is the largest and most stable market for the company, and seeking further development in the market is their top priority.

"The CIIE can help us improve our brand influence in China. We are planning to expand manufacturing capacity and innovate more models to meet the increasingly diverse needs of our Chinese customers," Zhang Hongfei said.

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