(Yicai) Nov. 5 -- US companies' exhibition space at the ninth China International Import Expo, which opened today, has exceeded 50,000 square meters, up more than 1,500 sqm from a year ago and ranking first for the eighth year in a row.

Honeywell Technologies' booth area has expanded to 500 sqm this year from 50 sqm at the first CIIE, with the automation giant showing about 170 innovative technologies. Healthcare tech leader Medtronic has launched more than 70 products worldwide at the CIIE over the years, with 33 approved and introduced to hospitals in the same year through the event's "green channel."

Whole food products manufacturer Andersen Northwest used a nine sqm booth at the second CIIE to enter the Chinese market. Since then, its exports to China have grown more than 30-fold, while the market accounts for more than half of its revenue.

China-US relations have eased this year compared with last year, with US companies' continued commitment to the Chinese market underscoring that the mutually beneficial nature of trade and economic ties has not changed, multiple experts and business leaders told Yicai. However, there is still room for cooperation in biopharmaceuticals, electrification, green development, and other areas, they pointed out.

In the past, some believed foreign companies joined the CIIE mainly to show their firm commitment to the Chinese market, while selling specific products would be better done at specialized trade fairs, such as medical device companies finding more buyers at medical exhibitions, said Sean Stein, president of the US-China Business Council and a regular participant at the expo. The event now offers precise business matchmaking, helping connect sellers with potential buyers, he noted.

While the CIIE is not a traditional trade fair focused purely on signing contracts, its "on-the-spot transaction" function has become increasingly prominent, Stein stressed, adding that this is also why US companies continue to participate year after year, and why their booth area has consistently ranked first among all participants.

The annual CIIE is the busiest and most important time of the year, noted Eric Zheng, president of AmCham Shanghai. The non-profit business organization and the US Department of Agriculture have jointly set up the "US Food and Agriculture Pavilion" since 2023, securing more than USD1.2 billion in orders over the past three years.

This year, both AmCham Shanghai's booth area and number of partners have increased, Zheng said. "Behind each partner there are actually many US industry associations as well. We hope to help those relatively small and isolated US SMEs open the door to the Chinese market."

Pragmatic cooperation in China-US economic and trade ties should not, and will not, decouple, according to Wei Zongyou, a professor at Fudan University's Center for American Studies. The CIIE is a signature platform that reflects China's commitment to opening up and its continued economic and trade engagement with the United States, Wei pointed out.

The event gives US firms a direct channel to meet buyers, particularly benefiting businesses in agriculture, medical devices, and consumer goods, Wei said, adding that it also continues to signal expanding imports and offers stable expectations for companies that remain bullish on the Chinese market.

Future Ties

Based on the eighth round of China-US economic and trade talks in September, there is huge potential for cooperation, the experts and business leaders said. The reciprocal tariff cuts agreed earlier still leave plenty of room to expand the around USD560 billion in trade (per China's statistics), they added.

Regarding specific sectors, China's innovation capacity in the life sciences and biopharmaceutical sectors has grown rapidly in recent years, Stein said. There is huge potential for cooperation in mutual investment and joint global multicenter drug clinical trials, and some projects are already moving forward quickly, he added.

In electrification and green development, China has made major progress, he pointed out, adding that as the US works to meet its rising electricity demand, it increasingly recognizes China's potential solutions and room for cooperation.

Cooperation opportunities also exist in areas such as green and low-carbon development, healthcare, and modern agriculture, Wei noted. "From the perspective of demand structure, the US market has stable demand for Chinese consumer goods such as Christmas decorations, while as China's middle class continues to grow, demand for high-quality US products is also rising.

"This complementarity on the demand side precisely shows that China-US economic and trade cooperation is highly complementary, providing a practical basis and sustained momentum for two-way investment," he stressed.

But Wei cautioned that China-US economic and trade relations still face some uncertainties. The pair need to continue following the principles of mutual respect and equality in consultations, manage differences through regular communication, and avoid allowing politicization to disrupt trade and economic issues, he said.

Zheng is focused on whether the US government will ease restrictions on Chinese investment in non-sensitive sectors. Chinese firms see the US as a huge market, but direct exports face many issues such as tariffs, so whether the US will form a whitelist, clearly define which industries are open to investment, and clarify the follow-up review and approval process is worth monitoring, he added.

Although obstacles remain on the path of continued cooperation, the trend of the world's two largest economies moving forward together is unstoppable and accelerating, Stein said. As the world's two largest and most dynamic economies, China and the US will eventually find ways to collaborate, especially in some of the most cutting-edge tech areas, he stressed.

Editor: Martin Kadiev