(Yicai) Nov. 11 -- Several foreign companies attending the Eighth China International Import Expo have expressed optimism about the Chinese consumer market, noting that the country’s advanced technology and cutting-edge innovation are empowering their global growth.

The Chinese market accounts for 20 percent to 25 percent of IQAir’s global revenue, Frank Hammes, global chief executive officer of the Swiss air purifier maker, told Yicai at the CIIE. Chinese consumers’ enthusiasm for low-price competition is fading, with the focus shifting toward high-quality, durable products, he added.

IQAir held the global debut of its Enamel Masterpiece air purifier series at the CIIE, combining traditional Chinese craftsmanship with Swiss technology.

Chinese consumers are investing more in improving home environments and promoting healthy lifestyles, which has presented IQAir with more opportunities, Hammes noted.

China is very strong in the chemical technology field, Hammes said. “We are in talks with numerous Chinese suppliers to explore the integration of different technologies to create highly efficient solutions that can be applied both in China and the global market.”

Hammes explained how IQAir’s business is also facilitated by a free trade agreement between China and Switzerland. In contrast, the company’s exports to the United States are subject to a 39 percent tariff, which is creating great pressure on its business.

GL Events signed a contract with China’s Madier Cultural Tourism Investment Group and its subsidiaries to support next year’s Harbin Marathon, Romain Peiffert, CEO of the French event organizer, told Yicai.

Peiffert believes that China’s exhibition and events industry will become increasingly professional and market-oriented in the future. “Transformation means opportunity, and I already see many.”

Scania, a Swedish heavy-duty truck and bus manufacturer, showcased its latest premium heavy-duty truck model at the CIIE. Equipped with a Scania Super 13-liter engine, with a maximum allowed trailer mass of 33,670 kg, the vehicle was produced at the company’s factory in Rugao, China’s eastern Jiangsu province.

Scania was one of the first foreign automakers to establish a wholly-owned production base in China after the country lifted foreign ownership restrictions on commercial vehicles in 2020. It officially came on stream last month.

“Previously, we had to rely on judgments from our China sales team, place orders overseas in advance, and then ship the vehicles to China, which was a very long process,” Amanda Liu, director of industrial operations and communications at Scania Asia, told Yicai. “Now that we have a factory in China, we can grasp market trends in real-time, and the speed of production and delivery is much faster.”

Editor: Futura Costaglione