CIIE demonstrates China's commitment to opening up the Chinese market to the world and promoting international cooperation.
China will be the main driver of supporting economic growth in the Asia-Pacific region, driven by the booming service sector, digital innovation and industrial chain advantages. As one of the world's largest economies, its rising consumption opens up huge import and consumer market potential. The country is very focused on importing a wide range of products and services, providing global companies with continuous market liberalization to enter the Chinese market.
The largest national-level fair with import-themed imports is the China International Import Expo (CIIE) dedicated to inviting global companies to embrace China's large markets and provide unparalleled opportunities for global trade cooperation.
Strong focus on healthcare and medical innovation
The global health care landscape is undergoing a significant shift, with rising demand for health care, aging population and increasing investment in medical innovation, driving a surge in demand for medical devices, medicines and health care-related services. The global healthcare services market is expected to increase by 6.26 tons by 2028, driving breakthrough commercialization across oncology and precision medicine. The Asia-Pacific region is becoming the focus of global medical market transformation. It is expected to be the fastest growing region of health care spending, accounting for more than 20% of global spending by 2030.
In this dynamic situation, CIIE has not only always attracted the world's top 15 pharmaceutical companies and 10 largest medical device manufacturers to showcase their collective presence, but also the famous doctors and hospitals that attend each year. As a key platform to accelerate medical innovation and market access, CIIE has a targeted exhibition area for medical equipment and healthcare products, which is themed “Healthy China, Better Life”. The exhibition area is dedicated to the Chinese initiative to promote health and highlights the latest developments and themes in the healthcare field, showing a range of products such as medical tools, medicines, nutrition and healthy foods, as well as health and wellness care. During the CIIE, Chinese regulatory and health care authorities (including the National Health Products Administration (NMPA), the National Health Commission and the National Health Administration) will conduct on-site investigations, interact with exhibitors, and provide businesses with corporate opportunities to speak directly with policy makers.
Many exhibitors in the healthcare and medical field see CIIE as an accelerator that drives their rapid growth in the Chinese market and helps expand cross-sector partnerships, most embodied by the “CIIE Miracle Babies”, a term coined by exhibitors, a term created for breakthrough medicines and medical knives that move from exhibitions to commodities. For instance, Johnson & Johnson MedTech's INVEGA HAFYERA® was smoothly included in China's National Reimbursement Drug List (NRDL) by the NMPA following its debug at the CIIE, significantly enhancing accessibility and affordability for patients requiring this innovative therapy, whilst MONARCH® and TECVAYLI® leverage their CIIE exposure to fast-track NMPA approval and market entry. Amgen's Tavneos® also debuted at the 7th CIIE, the first drug Amgen approved in the field of rare diseases in the Chinese market. The exhibition will benefit from the spillover effect of CIIE and will quickly become a commodity this year, bringing transformative care to patients in need. Astrazeneca's Koselugo® was demonstrated at the 6th CIIE, undermining the available treatments for NF1-PN. In China, Koselugo® received regulatory approval in just nine months, a significant triple leap in market launch and included in the NRDL.
Promote cross-border cooperation
China has greatly expanded access to its market by removing all restrictions on foreign investment in manufacturing. In addition, it has implemented zero-criteria treatment for 100% of the tariff lines for all at least developed countries that maintain diplomatic relations. As one of the most important international exchange and cooperation platforms, CIIE represents China’s commitment to openness, promoting high standards of openness and expanding global partnerships through its global promotions.
Participating in the 8th CIIE will provide unprecedented growth opportunities for Asian healthcare and healthcare businesses to enter China's rapidly expanding healthcare market by connecting with industry leaders, policy makers and potential partners. To have a global trade and innovation dialogue at the 8th CIIE, visit https://www.ciie.org/zbh/en/.
