The ninth China International Import Expo (CIIE) concluded in Shanghai on Nov 10, setting new records in intended deal value, exhibitor numbers, exhibition space, participation by leading global companies, and product debuts.

The value of one-year intended deals reached at the expo rose 2.3 percent year-on-year to hit a record $85.45 billion, according to Xiao Lu, deputy Party secretary of the CIIE bureau.

A total of 4,142 companies participated in this year's expo, with the overall exhibition area exceeding 440,000 square meters, including 370,000 sq m dedicated to the Business Exhibition. More than 300 Fortune Global 500 companies and industry leaders also took part.

A record 485 exhibits made their global, Asian, or China debuts at this year's CIIE, up from 461 last year.

The expo attracted participants from 162 countries, regions, and international organizations.

Michael Jiang, head of Clients and Markets at KPMG China, said that the size and capacity of this year's CIIE have further demonstrated the demand potential and innovation vitality of the massive Chinese market, while providing companies with more opportunities.

Chinese and foreign firms can use the annual event to align business needs, deepen cooperation, and identify opportunities for collaboration in industrial upgrading, technological innovation, and supply chain restructuring, Jiang said.

Patrik Ziman, CFO of Boehringer Ingelheim for Greater China, said the German company showcased nearly 50 innovative products and solutions at the expo over the past eight years. Presence at the CIIE has helped the company conduct deeper exchanges with local governments, medical service providers, research institutes, and industry partners.

This has helped the company better understand the Chinese market and integrate more deeply into China's innovation ecosystem, Ziman said.

The expo itself has evolved from a trading platform to an international incubator, said Chen Wenling, senior researcher at the China Center for International Economic Exchanges. The demonstration of quantum technology, bio-manufacturing, hydrogen, and nuclear fusion is in line with China's development goals in future-oriented industries. Advanced technologies from China and abroad can be integrated and applied more efficiently in real-world scenarios, she said.

The innovation incubation section at this year's CIIE featured 633 startup projects from nearly 40 countries and regions, up nearly 20 percent from last year.

Shanghai sees record procurement deals

Shanghai's trading delegation recorded $11.2 billion in one-year intended deals, up 5.47 percent year-on-year, maintaining its position as the leading local trading delegation for the ninth consecutive year.

The delegation brought together nearly 15,000 companies and 122,000 buyers. First-time intended purchases at this year's expo spanned 155 product types, valued at $2.9 billion.

The expo also created new investment opportunities in Shanghai. During the event, the city's districts and key development areas hosted 90 investment promotion activities, resulting in 29 intended foreign investment project agreements.

Preparations for the 10th CIIE are already underway. To date, 143 companies and organizations have signed up for next year's expo, booking more than 100,000 sq m of exhibition space.

Sources: China International Import Expo Bureau; China Daily