US companies cash in on opportunities
More than 180 American companies are taking advantage of business opportunities created by the ongoing China International Import Expo.
The US has the third-largest delegation with companies including Fortune Global 500 members Qualcomm, GE and Boeing.
Industries represented cover electronics, consumer goods, vehicles, machinery, health, services, food and agriculture.
US-based Cargill, a leader in the global food and agriculture industry, has been showcasing an array of innovative products. It expects to sign agreements for over US$2.4 billion for the importation of beef, grain, cotton and iron ore.
Robert Aspell, president of Cargill Asia Pacific, said the expo is a good demonstration of China’s support for growing world trade and its intention to pursue further reforms.
“You can see it is free trade that helped the world prosper in the past century … although it is not easy, we should support multilateral trade that creates wealth for a broad range of the population,” he said.
For Harld Peters, president of UPS China, the free flow of trade is vital.
“The world’s logistic industry benefits from a global system that facilitates trade, only then can we reach maximum efficiency and effectiveness to reach our customers,” Peters said.
Kenneth Jarrett, president of the American Chamber of Commerce in Shanghai said that even the establishment of new business contacts can be a plus as it creates the possibility of new business down the road.
Whirlpool is using the expo to establish itself as comprehensive supplier of products including washing machines, kitchen wares and refrigerators.
“We are bringing our latest product series, with key products including W Collection-Kitchen appliances and W Collection-Dishwasher to the import expo,” said Samuel Wu, president of Whirlpool Asia.
“We have tailored their design to cater for Chinese consumers.”
The W Collection will be launched in China and Europe simultaneously in 2019, ahead of its home market in the US.
“In China, we want to change perceptions of our brand and explore the limits of technology, in a bid to empower people by freeing up their time and letting them enjoying life with our new offerings,” said Jason Ai, president of Whirlpool China.
China’s home appliance market has seen major growth as consumers demand customized and smart products, with a focus on high-quality and value.
Belkin is promoting its latest model of touch-less phone chargers and an easy screen protector service.
A manufacturer of consumer electronics headquartered in California, Belkin is famous for its cellphone care products and its high compatibility with Apple.
Alex Chang, senior e-commerce manager of Belkin (Shanghai), said shopping online has made it easier for Chinese people to choose high-end quality products.
The Chinese market is full of potential, he said, stressing that Belkin also works now with Chinese mobile phone brands to develop more diversified products.
According to the expo’s organizer, US companies, including Cargill, Ford, Tesla, Microsoft, Dell, Qualcomm, General Electric, Mars and 3M, have already agreed to participate next year.