This photo taken on Nov. 3, 2023 shows an electronic poster of the 6th China International Import Expo (CIIE) in Xuhui District of Shanghai, east China. The 6th CIIE is scheduled to be held in Shanghai from Nov. 5 to 10. The expo showcases China's new development paradigm, a platform for high-standard opening up, and a public good for the whole world. (Photo: Xinhua)

Manufacturing companies from Europe and the US are looking for more opportunities in China, by rebuffing the "decoupling" push with concrete measures. They said that China's continuous opening-up is providing more opportunities for multinational companies in the Chinese market.

"We have accumulated a large number of advanced experiences in digital intelligence from different industries in China and we will help Chinese companies further expand their core competitiveness in overseas markets," US-based Rockwell Automation, an industry giant in industrial automation which first entered China in 1988, told the Global Times in a recent interview.

"We are expanding our capabilities as well as local collaborations, dedicated to empowering the high-quality development of China's manufacturing industry for a more intelligent and sustainable future," it added. 

The comments came against the background of China holding the 6th China International Import Expo (CIIE), the world's biggest import fair in Shanghai, reflecting China's continuous e opening-up bid, and sharing business opportunities with countries and enterprises worldwide.

As the country keeps on opening up and accelerates advancing Chinese modernization through a focus on high-quality development, "we are witnessing outstanding opportunities for collaboration and growth. The CIIE offers a critical platform to link domestic and international trade, as well as to enable China's new, top-level development path," said Ian Shih, president of Rockwell Automation China.

The expo has once again demonstrated China's commitment to opening-up and sharing development opportunities with the world, said Yin Zheng, Executive Vice President of China & East Asia Operations, Schneider Electric.

The company has attended the event for six consecutive years and has been operating in China for 36 years having established five R&D centers in China and establishing a co-innovation model with its partners. 

"We keep bringing 'Created in China' to the global market and benefit the world. And we will join hands with more Chinese partners to accelerate the 'dual-transformation', for more efficient and greener future, Yin said. 

At this year's CIIE, a management and technology consultancy firm, BearingPoint, said it will showcase end-to-end services from innovative strategic design to solution implementation. 

By providing solutions in areas such as customer and growth, ESG and sustainability, digital procurement and supply chain, finance and risk management, and digital transformation, BearingPoint said it assists businesses in identifying new opportunities, reshaping business models, reducing costs, improving efficiency, and collaboratively creating new growth with their clients.

"We are deeply rooted in the Chinese market, actively embracing the Chinese opportunities as an insider and connector. And we want to leverage this platform that connects global businesses with the Chinese market to showcase our outstanding innovative solutions in the business network set up by CIIE," said BearingPoint China CEO Tunde Laleye.
 
Under the wave of big data, digitalization, and the emergence of new business models, companies are accelerating their pace of innovation. Against the backdrop of the reshaping of the global supply chain, Chinese companies are advancing in the direction of "digital intelligence" and continuing to delve into the field of high-end equipment manufacturing.

China's major industrial firms saw their profits continue to recover at an accelerated pace, according to recent government data. 

The profits of major industrial firms with annual main business revenue of at least 20 million yuan ($2.79 million) surged 11.9 percent year on year in September, logging double-digit growth for two consecutive months, data from the National Bureau of Statistics (NBS) revealed.

To consolidate the sustained recovery, NBS said that efforts should be made to continue expanding domestic demand, boost market confidence, stabilize business expectations, and promote new industrialization.

Global Times