US firms tap into China's import expo
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E-mail Xinhua, November 7, 2022
American companies are pleased with the results of participation in the China International Import Expo (CIIE) and want to grow with the expo, said the U.S.-China Business Council President Craig Allen on Sunday.
American companies are heavily invested in the CIIE and are pleased with the results of their investments, said the business council president in an interview with Xinhua.
The CIIE, the world's first import-themed national-level expo, this year saw nearly 200 U.S. companies participate, according to Allen. "Every company wants a little bit more floor space."
"We respect the show and want to grow with the show," Allen added.
Founded in 1973, the U.S.-China Business Council represents more than 200 American companies that do business with China.
Speaking of the importance of the CIIE, Allen said it is a great place to meet Chinese buyers, government officials, suppliers, and friends from all over China.
He also said many American companies would have ceremonies for signing memorandums of understanding and letters of intent, and there is a lot of business activity at the CIIE.
Noting that China has produced approximately 30% of global growth over the last ten years, "we naturally are interested in all elements of the Chinese economy and selling into every segment," Allen said.
Official data showed that China-U.S. trade of goods totaled 3.8 trillion yuan ($524.34 billion) in the first three quarters, up 8% from the same period of 2021.
Allen said hundreds of millions of Chinese have been brought out of poverty and are becoming much more prosperous. He added Chinese are more concerned about their health care and education and want good services and products as they become wealthier.
"We feel that we are competitively positioned to supply them," he said.
He also called on the two countries to have more communication. "I am here to listen and represent the views of American companies. And I am here also to listen to Chinese friends, government, and companies and take those messages back to America."
The fifth CIIE, which runs until Nov. 10, attracts 145 countries, regions, and international organizations, as well as 284 industry-leading enterprises, including some of the world's top 500 companies.
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