Multinational executives impressed with expo's innovation and trade plans

Multinational executives spoke highly of China's decision to further open up its market and expressed confidence in investing in the nation and contribute to its economic transformation to meet booming domestic demand. 

“It is great to see China taking an initiative like this one, which is about erasing frontiers, about globalization and about a win-win situation which would encourage innovation and trade together,” Eric Rondolat, CEO of Signify, said at the China International Import Expo. “In the past year-and-a-half, doing business in the world has become more complicated and China’s pledge to further open up is a great initiative at the moment.”  

Signify, formerly known as Philips Lighting, is showcasing lightning and Internet of Things solutions to help build smart cities at the exhibition. 

China is Signify’s second-largest market, and it has been setting up manufacturing plants as well as research capabilities to develop new technology locally. 

“We look forward to extending our partnership with China by exploring an open approach to trade and innovation as a means to foster mutual benefits and prosperity,” Rondolat said.

Switzerland-headquartered Novartis is also pleased to see the Chinese government’s determination to open up its market. "It gives us the confidence and motivation to continue to develop the Chinese market,” said Yin Xudong, president of Novartis Group (China).  

“We highly commend China’s open attitude to embrace globalization and free trade, and we‘re confident China will release well-rounded, transparent laws regarding foreign investment. It would help Novartis to introduce innovative drugs into the country, which will eventually benefit Chinese patients.

"We hope to communicate, learn and cooperate with international peers and local excellent enterprises through this international platform and to make joint efforts to meet the ever-changing medical demands, benefit Chinese patients and fulfill our long-term commitment to the Chinese market," Yin said.

The drug maker is showcasing its advanced digital medical technology at the CIIE, as well as innovative medical solutions.

Novartis also began collaboration with local level medical service providers and county-level hospitals to provide diabetic retinopathy prevention and control solution. 

It seeks to combine medical expertise and AI technology to provide an automated fundus photography and disease diagnosis process. 

Benefiting from a series of policies issued by the Chinese government to accelerate the approval of new medicines, 12 innovative drugs by Novartis were approved while another 10 were included into the National Reimbursement Drug List last year.