United States-based firms are demonstrating their eagerness to strengthen ties with China during the sixth China International Import Expo (CIIE), reflecting a growing willingness to cooperate amid improving bilateral relations. Corporate executives and experts have identified healthcare, agriculture, and technology as sectors with significant potential for collaboration. China’s expanding domestic market and its commitment to economic openness continue to attract US companies, despite global economic uncertainties.
The CIIE, currently underway in Shanghai, boasts the largest scale in its history, underscoring the event’s significance. The strong presence of US businesses at the expo follows high-level exchanges between China and the US, signaling a potential for increased interaction and cooperation between the world’s two largest economies.
Stephane Bancel, CEO of mRNA vaccine developer Moderna, described the groundbreaking of the company’s research and production headquarters project in Shanghai as a historic milestone. This $495 million investment represents the largest foreign-funded biomedical project in China. Moderna aims to provide personalized medicine to Chinese patients and conduct clinical trials for its new medicines in the country.
The US Department of Agriculture is leading a delegation of 17 exhibitors at the CIIE, emphasizing the importance of China as a key market for agricultural products. Cargill Investments (China), the Chinese branch of the US agriculture and food company Cargill, expressed China’s central role in the global agricultural supply chain.
US Ambassador to China Nicholas Burns affirmed the significance of economic and trade cooperation between the two nations and emphasized that Washington does not seek to decouple from Beijing.
Experts believe that the enthusiasm of US companies at the CIIE signifies untapped potential for further bilateral economic cooperation. Mutual respect and win-win partnerships are key goals for companies on both sides.
Qualcomm China sees substantial opportunities for collaboration in 5G, artificial intelligence, internet of things, and intelligent connected vehicles with Chinese companies. The company emphasizes its commitment to China as a pivotal business partner.
Dow, a global materials science company, views the CIIE as a crucial platform to showcase innovative technologies for China and the region. The company recently signed a $300 million memorandum of understanding with ZKH Group, a Chinese digital service company, to explore emerging silicone markets in electrification, transportation, packaging, and construction.
In summary, US companies are actively engaging in the CIIE to deepen ties with China, highlighting the potential for increased economic cooperation and partnerships in various sectors.