Business · Companies · 6 hrs ago

US firms expand deals and business plans at China import expo

US firms expand deals and business plans at China import expo

US companies took more than 50,000 square metres of exhibition space at the China International Import Expo in Shanghai, the most of any country or region for an eighth straight year.

The area was 1,500 square metres larger than last year, and the expo was being held for the ninth time.

Six agreements worth more than $650 million were signed when the US food and agriculture pavilion opened.

One Idaho company said its business in China has grown to nearly $10 million from about $500,000 four years ago, partly by developing products for smaller pets.

Some US firms are using Chinese consumer demand to shape products and business plans, including a clothing brand planning more stores in China and exploring AI for online sales and logistics.

Tesla said its Shanghai factory produces a car every 30 seconds, uses locally made parts for 98% of its vehicles, and works with more than 400 local first-tier suppliers.

The expo is also helping companies build longer-term partnerships, with Honeywell saying a project agreed at an earlier expo has become an operating centre and research facility in Tianjin.

The US businesses see opportunities in China, while the Shanghai American Chamber of Commerce said the expo can support trade and constructive relations between the two countries.

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What people are saying

LeahGlobal brand president of Tommy Hilfiger Apparel Co.
The expo brings together global brands, innovative ideas and cooperation opportunities.
via China News Service
Xu RuweiAsia-Pacific director of Certainly Buy International Co.
Compared with the US market, parrot species in the Chinese market are generally smaller in size and have smaller beaks, so we have introduced more finely portioned packaging, as well as bird-specific probiotics and coat-enhancing formulas.
via China News Service
Yu FengGreater China president of Honeywell Technology
A first launch or signing at the expo can become the starting point for long-term cooperation, and continue to generate new projects and applications as needs and technology develop, and this is the expo’s spillover effect.
via China News Service
Zheng YiPresident of the American Chamber of Commerce in Shanghai
US companies see real opportunities in the Chinese market.
via China News Service