Small and medium sized firms form bulk of CIIE participants

The ongoing 3rd China International Import Expo not only attracted industry leaders, but also more private companies, as well as small and medium sized-enterprises, CCTV reported.

Data shows 53,500 private firms are attending this year's CIIE, accounting for more than 60 percent of the total Chinese exhibitors.

The UK, which has attended the import expo for two consecutive years, sent a delegation consisting of more than 120 UK companies, among which most of them are small and medium sized-enterprises. Focused on food and drink, these British companies hope to build a bond of cooperation with the Chinese market via the CIIE.

John Edwards, British trade commissioner for China, said many British companies face two challenges this year. One is the COVID-19 pandemic; the other is the Brexit, which means they have to find international markets outside the EU. "So, this year's CIIE is especially important for us, especially for our small and medium sized-enterprises."

At the trade in services exhibit area, more exhibitors are from small and medium-sized enterprises. Some exhibitors have also brought financial support products such as cross-border guarantee to provide safer and faster digital financial solutions and help small and medium sized-enterprises improve their cash flow and ensure smooth operation.

Many trade promotion organizations feel it's urgent to bring their local small and medium sized-enterprises into the Chinese market, Henry Chan, president of International Merchandise Exchange & Exhibition Co Ltd, said, adding that the company has used many technologies, such as online channels, to provide services for partners.

Online channels are also a new highlight during this year's CIIE. Due to the COVID-19 pandemic, some Kazakhstan exhibitors are not able to attend the import expo, however, they can communicate with the CIIE audience in real time via special equipment, and answer their questions about products, according to a report from Kazakhstani Atameken Business Channel.

For CIIE on-the-spot exhibitors, some of them have hired professional livestreaming teams to promote their products, as livestreaming has become the latest craze in business models across the country.

As some parts of the world have been hit hard by a second wave of coronavirus cases, the CIIE has adjusted the number of participants. However, the number of registered professional buyers has still reached 400,000, who are divided into 39 trade groups and nearly 600 sub-groups.