Import Expo positive sign of China's opening up -- Austrian business leader

Source:Xinhua Published: 2018/11/1 17:37:37

The upcoming China International Import Expo (CIIE) is a positive sign of China's efforts in opening up and cooperation amid trade frictions with the United States, an Austrian business leader told Xinhua on Monday.

"We have taken note of the very positive speech and the forthcoming Import Expo is a further positive sign that Xi Jinping's words on opening up are being implemented step by step," said Christoph Matznetter, vice president of the Austrian Federal Economic Chamber, referring to Chinese President Xi Jinping's commitment at the annual conference of the Boao Forum for Asia in April this year.

Matznetter believes that China's steady opening of the market and strengthening cooperation with other economies is a sensible response to US trade protectionist policies and Sino-US trade frictions.

He praised China's efforts in preventing trade protectionism from spiraling on a larger scale.

Eurasia generates about 70 percent of the world's total GDP and inhabits about 60 percent of the world's population. China's increased cooperation with Europe and other economies can partially offset the negative impacts from rising global trade protectionism, Matznetter said.

The US trade protectionist practices and unilateral withdrawal from several international agreements have taken a toll on global trade and economy, pressing countries in the European Union (EU) to seek new partners, he explained.

Naturally, eyes are turning to the East, and turning to China, an increasingly industrialized country and a huge market with nearly 1.4 billion people, he added.

China is currently Austria's second largest trading partner outside the EU. Recent years have seen continuous steady growth in bilateral trade volume. Made in Austria, a symbol of high value-added and quality products, is well accepted in the Chinese market.

The official highlighted the CIIE as a special opportunity for Austrian companies to showcase their products and services directly to potential buyers in China.

Some 14 Austrian companies will debut in the Austrian National Pavilion and another 8 companies including AT&S have their own booths.

Austrian exhibitors are mainly from the technology industry, mostly market leaders in their respective fields and some hidden champions. Quite a few have been doing business in China for many years with branch offices there.

Doppelmayr, market leader in ropeway engineering, has built 14,700 ropeway systems for customers in more than 90 countries and is an important partner of China's 2022 Winter Olympics.

The Austrian family business Plasser Theurer supplies track maintenance machines of almost all kinds and sizes. As a competent service partner, Plasser Theurer is a trusted supplier in the field of railway track maintenance in China.

Austria is usually associated with pure nature, rich cultural heritages and quality life, products and services. The Austrian National Pavilion will reflect how imaginative, original and unique Austrian companies and their products and services are, Matznetter said.

The pavilion features an open space design with white walls of different heights forming the background of the display platform and visually dividing the areas.

Several events will also be held in the pavilion, including the China-Austria Business Investment Forum, which aims to attract Chinese investors.

Matznetter hoped that the expo will produce a magnet effect and drive more Austrian companies into the Chinese market.

Given the close connection among Austrian companies, a positive impact is expected on a much wider range of companies if the exhibitors reap significant results at the CIIE, he said.

Posted in: DIPLOMACY,EXPERTS SAY

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