Multinationals upbeat about city's business environment, planning to invest more
Multinationals that are active participants in the China International Import Expo remain upbeat about the business environment in Shanghai and intend to further invest in the country.
They're also pledging support for the city's evolving retail environment through new offerings and fresh shopping experiences.
Adidas is showcasing at CIIE how recycled ocean plastic is shredded, heated and turned into a yarn that is eventually made into clothes.
Adidas Terrex opened its first Chinese mainland store in Jing'an District in September as the outdoor line sees increasing demand for clothing and sports performance.
Along with its newly opened a3 concept store at Taikoo Hui in the district, it sees Shanghai as a one-of-a-kind city which gives full play to creativity to optimize the consumer experience.
"We remain fully committed to Shanghai and to pushing the envelope further and further when it comes to satisfying the needs of the city's consumers, as well as its overall development as a thriving global hub of international culture and business," said Jason Thomas, managing director of adidas China.
"CIIE has come to symbolize China's enduring efforts to open up to the world and facilitate mutually beneficial global trade," he added.
German cooking appliance provider Miji Technology is taking part in CIIE for the fourth time this year and said it has also signed up for next year's expo.
It made extra efforts this year to complete import procedures for three new electronic stove models in September so that overseas products are ready for commercial launch.
It has also set up lab facilities at the expo to help better understand product specifics and to offer tailor-made solutions for various kitchen needs as it views the expo as an opportunity to connect with industry collaborators.
Ji Canyue, CEO of Miji International Holdings, said: "We have seen obvious brand awareness gains through the expo and also strong demand after latest exhibits are showcased at CIIE, so this year all exhibits are available for purchase through our official WeChat mini program."
Bolstered by strong demand for electronic cooking stoves in the country, it has enhanced presence through other industrial fairs and expos after sample models were featured at CIIE.
Health and nutrition, the latest trends in the food category, are expected to get further boost as multinational players eye a piece of the cake in the sector.
Euromonitor International expects China's sports nutritional supplements sector to grow from 2.68 billion yuan (US$412 million) in 2019 to 7.3 billion yuan in 2024.
Herbalife Nutrition China is planning to "embed more Chinese elements into our product offerings," said Chairman Zheng Qunyi, adding "we've seen a steady pick up in demand for small portion products."
He said in an interview with Shanghai Daily the company will expedite local innovation with new formats of nutritional foods which will hit the market in the next two years. The company is targeting mass market demand with functional and physical enhancement supplements.
Herbalife's 10 protein-based products have successfully obtained Low GI (Glycemic Index) Certification in China.
Herbalife Nutrition, returning to CIIE for the fourth time this year, said its latest exhibits range from weight management product Formula 1 Healthy Meal Nutritional Shake Mix to sports nutrition product Herbalife24 series. They also include overseas product lines such as Best Defense, Joint Support Advanced and Ocular Defense Formula.
The Herbalife24 sports nutrition line also began local production last year at its Nanjing plant with annual capacity of 6.6 million cans.
Its new 2,000-square-meter China Product Innovation Center, with 160 million yuan invested in the first phase, started operation in Shanghai last year to strengthen local research and development capabilities.
The company has also been actively diversifying nutritional offerings to the younger generation with more product formats that suit modern lifestyles and nutritional supplement demands.
