Auto firms sign up for next year
Print Edition
TWO multinational automakers have confirmed their participation in next year’s China International Import Expo, organizers said yesterday.
Since establishing its Chinese operations in 2010, Jaguar Land Rover company said it had been encouraged by the country’s further opening-up and leveraging of its strong global presence and local resources.
At this year’s CIIE, the UK company is showcasing eight models at its booth, including the Land Rover Defender, Range Rover Fifty and Jaguar I-Pace.
US auto giant General Motors has also signed an agreement to take part in the fourth CIIE.
Julian Blissett, president of GM China, said the expo is a platform for the automaker to obtain real feedback from consumers, helping it better understand market demand and accurately formulate future product plans and strategies.
Next year’s expo will have a business exhibition with major areas for automobiles, food and agricultural products, intelligent industries and information technology, consumer goods, etc.
BIE gains a following after second CIIE
After attending the second CIIE, Israel-based Beer Itzhak Energy established a presence in Shanghai. In January, BIE saw 60 foreign-funded projects signed in Shanghai, with a total investment of over US$7.3 billion.
A century-old enterprise, BIE’s business in China covers infrastructure, energy, venture capital and sci-tech innovation. Its subsidiaries include Watergen, Vertical Field and NanoSono. Through Watergen, BIE aims to offer “clean water and healthy food” for more consumers, according to Mikhael Mirilashvili, BIE’s founder.
Baker Hughes eyes big expansion in China
Baker Hughes, an energy technology company under General Electric, plans to expand its business in China, where the economy has rebounded since the epidemic.
The company has many industry partners in China, covering major energy firms in the country, said Maria Sferruzza, president of Baker Hughes Asia-Pacific. In 2017, the oil and gas unit of GE merged with Baker Hughes to form a new company. It has business in 120 countries and regions with over 67,000 employees. The company has signed up to participate in the next three CIIE events.
Stores shut but beauty products still in demand
Jean-Paul Agon, chairman and CEO of L’Oréal Group, said that its previous achievements are “not yet at all at the end of our expansion in China.”
“By combining a large active market with a dynamic and start-up friendly ecosystem, China is incentivizing innovation and becoming a magnet for pioneering talent,” he said.
Agon said although the pandemic had forced retail stores to shut down in most of the country, he did not see any decline in demand for beauty products.
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