A trade delegation from Taizhou city in East China's Jiangsu province has signed intended deals worth $20 million with exhibitors at the ongoing sixth China International Import Expo (CIIE).
Seven Taizhou-based companies, including AstraZeneca, Boehringer Nestlé, and Time Medical, are presently showcasing their products and solutions at the CIIE.
Goods produced in Taizhou, including cooking oil, rice, and plant sterols can been seen at the booth of Singapore-headquartered Wilmar International, which has participated in every edition of the CIIE.
"We have invested over 4.9 billion yuan ($673.23 million) in Taizhou to establish 12 companies and created a rich local industrial ecosystem," said Pan Kun, quality control director at Yihai Kerry Arawana Holdings Co Ltd, who is in charge of the Chinese business of Wilmar International.
The import and export value of products related to the Taizhou Industrial Park at this year's CIIE is expected to reach 1 billion yuan.
Taizhou businesses have made strides in international markets through the CIIE as well. One such company is Time Medical Technology Co Ltd, which specializes in cutting-edge medical imaging products.
"This year, we are participating under the name of our Hong Kong-based headquarter, and most of the exhibited products are manufactured in the Taizhou Medical High-tech Zone," said Ma Qiyuan, chairman and president of Time Medical.
Due to its participation in previous CIIEs, the company has successfully entered international markets and expanded their sales to countries like Italy, the United States, Argentina, and South Africa.
According to the Taizhou chamber of commerce, the enthusiasm that local businesses have for attending the expo has been growing year after year. This year, nearly 600 companies and over 1,500 buyers related to fields like biopharmaceuticals, equipment manufacturing, food and agricultural products, and service trade have registered for the expo.