Global businesses find opportunities at China services trade fair
With a focus on China's expansive market, international firms are participating in a significant services trade fair in Beijing to seek out business prospects in the world's second-largest economy.
TroibNews 
Amid the allure of China's expansive market, leading global companies are participating in a prominent services trade exhibition in Beijing to tap into the vast business opportunities available in the country, which ranks as the world's second-largest economy.
The 2024 China International Fair for Trade in Services is hosting upwards of 450 leading enterprises, including many from the Fortune 500, alongside 85 countries and international organizations. With the theme "Global Services, Shared Prosperity," the event commenced this Thursday and will span five days.
Jack Chan, chairman of EY China, commented, "CIFTIS brings together enterprises from around the world to share opportunities stemming from China's opening up and development of trade in services, while CIFTIS also helps enterprises build a big circle of friends for win-win cooperation." He further noted that China's strategic enhancements in the services sector are creating wider market access and various development avenues for international services trade businesses.
Echoing a similar sentiment, Jacky Zou, chairman-elect of KPMG China, stated, "Chinese modernization provides new opportunities for global development." He emphasized how the broadening Chinese market is favorable for KPMG, which is looking to leverage the trade fair alongside its expertise and global networks to better assist foreign and Chinese firms in expanding their reach.
Official statistics indicated that China’s service trade had consistently grown over the recent years, fueling the expansion of its foreign trade sector. From January to July 2024, the country's service imports and exports surged by 14.7 percent year-over-year, totaling 4.2 trillion yuan.
Wang Dongtang, a Ministry of Commerce official, highlighted China’s readiness to import superior services and export knowledge-intensive services, thus sharing its developmental successes globally.
Nestle is among the corporate giants returning to the fair, this time introducing over ten products across three categories: coffee, drinking water, and baby nutrition. David Zhang, CEO of Nestle Zone Greater China, expressed strong confidence in the Chinese market and the desire to engage more deeply with it through new innovative offerings, noting, "As a world-renowned food and beverage company with a history of 158 years, Nestle always has confidence in the Chinese market."
German medical technology firm Siemens Healthineers is participating for the first time, showcasing top medical products on this international stage. Lena Wang, vice president of Siemens Healthineers China, described the fair as a critical global platform for medical innovation and partnership exploration.
Also, making their debut at the fair is Medtronic, which introduced over 60 medical products and solutions. Alex Gu, president of Medtronic Greater China, underscored the exhibition’s role in facilitating multinational cooperation and dialogue, and noted the significant potential of the health-focused Chinese market. "Given China's massive population, medical needs and the Chinese government's emphasis on people's health, the Chinese market has great potential," Gu explained, adding that Medtronic is keen on enhancing its local operations to better serve the Chinese community.
Thomas Evans for TROIB News
The 2024 China International Fair for Trade in Services is hosting upwards of 450 leading enterprises, including many from the Fortune 500, alongside 85 countries and international organizations. With the theme "Global Services, Shared Prosperity," the event commenced this Thursday and will span five days.
Jack Chan, chairman of EY China, commented, "CIFTIS brings together enterprises from around the world to share opportunities stemming from China's opening up and development of trade in services, while CIFTIS also helps enterprises build a big circle of friends for win-win cooperation." He further noted that China's strategic enhancements in the services sector are creating wider market access and various development avenues for international services trade businesses.
Echoing a similar sentiment, Jacky Zou, chairman-elect of KPMG China, stated, "Chinese modernization provides new opportunities for global development." He emphasized how the broadening Chinese market is favorable for KPMG, which is looking to leverage the trade fair alongside its expertise and global networks to better assist foreign and Chinese firms in expanding their reach.
Official statistics indicated that China’s service trade had consistently grown over the recent years, fueling the expansion of its foreign trade sector. From January to July 2024, the country's service imports and exports surged by 14.7 percent year-over-year, totaling 4.2 trillion yuan.
Wang Dongtang, a Ministry of Commerce official, highlighted China’s readiness to import superior services and export knowledge-intensive services, thus sharing its developmental successes globally.
Nestle is among the corporate giants returning to the fair, this time introducing over ten products across three categories: coffee, drinking water, and baby nutrition. David Zhang, CEO of Nestle Zone Greater China, expressed strong confidence in the Chinese market and the desire to engage more deeply with it through new innovative offerings, noting, "As a world-renowned food and beverage company with a history of 158 years, Nestle always has confidence in the Chinese market."
German medical technology firm Siemens Healthineers is participating for the first time, showcasing top medical products on this international stage. Lena Wang, vice president of Siemens Healthineers China, described the fair as a critical global platform for medical innovation and partnership exploration.
Also, making their debut at the fair is Medtronic, which introduced over 60 medical products and solutions. Alex Gu, president of Medtronic Greater China, underscored the exhibition’s role in facilitating multinational cooperation and dialogue, and noted the significant potential of the health-focused Chinese market. "Given China's massive population, medical needs and the Chinese government's emphasis on people's health, the Chinese market has great potential," Gu explained, adding that Medtronic is keen on enhancing its local operations to better serve the Chinese community.
Thomas Evans for TROIB News
