BUSINESS Overseas corporate giants embrace more cooperation opportunities at CIIE

BUSINESS

Overseas corporate giants embrace more cooperation opportunities at CIIE

Global Times

18:42, November 09, 2020

Photo taken on Oct. 26, 2020 from the Sinar Mas Plaza shows a view of the Lujiazui area in Shanghai, east China. A light show will be held on Nov. 5 to celebrate the opening of the third China International Import Expo (CIIE), which will take place in Shanghai from Nov. 5 to 10. (Photo: Xinhua)

Overseas companies are eager to make the most of the cooperation opportunities at the third China International Import Expo (CIIE) being held in Shanghai, as the fair shows itself to be the perfect platform for them to tap into the Chinese market, which also inspires them to introduce new products to ensure they are meeting diverse needs of local consumers.

Novo Nordisk, a global healthcare leader in diabetes treatment, said in a note sent to the Global Times that it will invest 200 million yuan ($30.44 million) in a strategic collaboration with the Lin-gang section of the China (Shanghai) Pilot Free Trade Zone Administration.

According to the agreement, Novo Nordisk will establish a new legal entity in the Lin-gang Special Area titled Novo Nordisk (Shanghai) Pharma Trading Co., whose business scope includes marketing and promotion, pharma R&D, and finished goods importation and distribution.

France-based Servier China and Alibaba Health announced Saturday that they will once again work hand in hand to openly cooperate on innovation, as the two partners further explore a patient-centric, technology-driven strategic partnership to establish innovative, integrated pharmaceutical health services.

In the short term, relying on the Alibaba Health Pharmacy Platform, Servier China will carry out online education and other programs for chronic diseases to effectively improve disease awareness and standard treatment for patients.

Within the coming three years, both companies will continue to optimize processes and form an effective and standardized cooperation model to replicate online education and treatment programs in the field of chronic diseases to benefit more patients.

Meanwhile, Arthayudh Srisamoot, Ambassador of the Kingdom of Thailand to China, visited the booth of TCP Group on Saturday, the inventor and owner of the global Red Bull brand and the "Red Bull" trademark, and visited the diversified product portfolio of the group.

The government's actions and achievements in fighting the epidemic have strengthened our confidence and determination to increase investment in the Chinese market, TCP Group CEO Saravoot Yoovidhya said in a note sent to the Global Times.

That CIIE went ahead as planned conveys China's attitude of openness, tolerance and development to the world, and has let others witness the speed at which China was able to get the situation under control, he added.

2020 marks the 45th anniversary of the establishment of diplomatic relations between China and Thailand, and Yoovidhya remarked that China has always been at the forefront of forming global strategy, adding that "China is the most important investment market for the group besides the local market."

CIIE kicked off in Shanghai on Wednesday, with 674 exhibitors and 1,351 shoppers from 64 countries participating, and 861 cooperation intention deals signed, the expo organizer said on Sunday, strong evidence of how China's rising market has become a driving force for global businesses.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue