Overseas firms share benefits of Chinese market

Shanghai Newspaper_ Overseas firms share benefits of Chinese market

The second China International Import Expo concluded yesterday, As an aftermath, more overseas companies brought endless possibilities with them, generally benefiting from China’s large market. 

Australian firm Freedom Foods Group Limited and Daesang Corporation from South Korea signed tentative sales agreements with Shanghai-based snack food chain LYFEN to introduce more food products to China and co-develop new products.

Freedom Foods Group Limited is a diversified food company operating in the health and wellness sector formed in 1991 when it started producing soy milk. 

Meanwhile, Deasang Corporation was founded in 1956 and has since then become one of the largest fermentation businesses in the world and the leading consumer food producer in Korea.

Lyfen CEO Yu Ruifen expressed how they would like to work with global partners to make the market bigger considering the volume of the Chinese food market.  

Almost 4000 firms from all around the globe gathered to seek operation opportunities and LYFEN’s new deals are just of it all. 

The deputy director of the CIIE bureau revealed yesterday.during the second CIIE that a total of US$71.13 billion worth of tentative deals were reached for one-year purchases of goods and services  

Given the robust performance after the first expo, Yu is expecting strong sales of her company’s new imports.

During the first CIIE, one of LYFEN’s imported milk products displayed and its sales skyrocketed because of that exposure, codfish sausage sales doubled too. 

Chairman and CEO of Lenovo, Yang Yuanqing believes that an open market is key for global economic growth and the development of enterprises. Somthing similar to what Lenovo has succeeded through from being a domestic personal computer maker to a global tech group today. He stressed that globalization helps firms boost efficiency and drive innovation, and benefit consumers worldwide.

The CIIE has become a premium occasion for seeking partnerships, supported by the tentative deals announced at the expo and the long lists of contact information registered at each booth’s reception.

China CEO of Japanese cosmetics brand Shiseido.revealed that their participation this year was decided through a signed contract on the second day of last year’s expo. As one of the first batch to sign up for the third expo, we will also expand the size of our booth and introduce more brands to promote our business development.

That’s why it was no surprise that even before the second CIIE wrapped up, many other overseas firms have already pledged participation for next year’s event. 

More than 230 companies from all over the world have signed up for the third CIIE, with their combined exhibition area exceeding 84,000 square meters, according to Sun.