RX BANKS ON CHINA BIZ FOR BIGGER GROWTH
Leading expo organizer set to hold 75 events in Chinese market this year
By ZHONG NAN firstname.lastname@example.org
RX, formerly known as Reed Exhibitions, is set to hold 75 business exhibitions across China in 2023 to meet demand from local companies seeking to boost exports and better compete with global rivals, said its top executive on Tuesday. Due to the impact of the COVID19 pandemic, the London-head quartered group, one of the world’s largest trade fair and event organizers in terms of sales revenue, managed to hold 15 trade fairs in China last year. Supported by China’s optimized pandemic control measures, the latest opening-up policies and accelerated pace in industrial upgrading, RX predicted that its sales revenue would soar 190 percent on a yearly basis this year. Hugh Jones, the group’s CEO, expressed confidence in the Chinese market and the further growth of various industries in China. Jones said that RX is committed to attracting international exhibitors and buyers to return to the Chinese market while assisting local customers in expanding their presence in key regions worldwide. Given China’s growing middle income earners, increasing disposable incomes and demand for more sophisticated daily necessities, businesses from sectors such as packaging, healthcare and smart manufacturing will see surging demand to participate in various trade shows to win more clients in the coming years, said Jones in Beijing, during his two-week visit to China
The British company will organize major trade fairs and events in China, including the China International Medical Equipment Fair in May in Shanghai, the Kunming International Flowers Expo of China in September in Kunming, Yunnan province and Automotive World China in October in Shen- zhen, Guangdong province, as well as the China International Cleanser Ingredients Machinery and Packaging Expo in November in Nanjing, Jiangsu province, this year.
190 percent expected growth in RX sales revenue this year
Since made-in-China vehicles are gaining more popularity both in domestic and overseas markets, Jones said that automotive manufacturing, especially advancements in new energy vehicles, internet-connected vehicles, auto electronics, smart cockpits and autonomous driving, has been an exciting application industry that the company is interested in. The sector is expected to drive exports and serve as a major pillar of the country’s economic growth. With a large number of Chinese companies rushing to participate in various trade fairs across the world since late last year, Jones said that one of the key values of trade shows is to have both suppliers and buyers meet and do business more efficiently and effectively. This value is particularly important for its international customers, as most of them are small and medium-sized enterprises. “These moves will continue contributing a boost to China’s foreign trade given the huge number of SMEs, a wide range of industry sectors and the variety of host countries and regions RX shows cover,” he added. As the Regional Comprehensive Economic Partnership pact has created favorable conditions to spur foreign trade and investment activities, Jones said companies from signatory countries will have more demand to participate in various trade shows in the Asia-Pacific region in the years ahead. Zhao Ping, vice-dean of the academy of the Beijing-based China Council for the Promotion of International Trade (CCPIT), said that the recovery of China’s convention and exhibition industry this year has generally exceeded market expectations, as evidenced by the positive effects of trade fairs in various industries. For instance, a total of 184 exhibitions were held at professional venues in China in the first two months of this year, soaring 110 percent on a yearly basis. The total exhibition area was 3.66 million square meters, up 62.3 percent year-on-year. Among them were 78 large-scale exhibition events with an exhibition area of over 10,000 sq m, a year-on-year growth of 160 percent, the Ministry of Commerce said. As of the end of March, the CCPIT received 519 applications from domestic organizers for overseas exhibitions this year. These trade fairs will be held in 47 countries, including the United States, Germany, France, Japan, Thailand and Brazil.
China high-quality path presents key opportunities for reinsurance industry
By liang kaiyan The insurance industry is expected to be on the track of steady development in China as the economy rapidly recovers from the COVID-19 pandemic, executives of global reinsurer Swiss Re said. China’s economic recovery this year is likely to be consumption-led and see stronger growth in contrast to the global economic slowdown, said Christian Mumenthaler, CEO of Swiss Re. “We observed that the pandemic had a lasting impact on the risks and demand for insurance,” Mumenthaler said. According to the Swiss Re Institute, global demand for risk protection has increased after pandemic, people are now more used to online interaction and rate hardening in non-life commercial insurance lines continues. “We still see China has huge potential with strengthening economic fundamentals,” Mumenthaler said. This year, the Chinese government has set its GDP growth target of around 5 percent, indicating the country’s confidence in achieving a solid economic growth. With this target, Mumenthaler said: “We think the government is probably a bit cautious because of the current environment, and it sends a signal that quality of growth is more important than just focusing on numbers.” At the recently concluded China Development Forum 2023, which was themed Economic Recovery: Opportunities and Cooperation, Swiss Re submitted a report on improving risk protection for residential housing and promoting sustainable development of rental housing in China. “China’s focus on high-quality development and common prosperity presents significant opportunities for the reinsurance industry,” Mumenthaler said.
"We still see China has huge potential with strengthening economic fundamentals.”
Christian Mumenthaler, CEO of Swiss Re
Swiss Re prioritizes business in areas like aging and health, agriculture, natural disasters and decarbonization, in line with Chinese economic trends and the government’s agenda. The issue of an aging population has been attracting attention in China in recent years, Mumenthaler said. It is a challenge faced by Eastern and Western societies, the executive said. “But one where China is uniquely equipped to develop nursing homes and facilities or homes for elderly, which is extremely important.” “It’s a whole ecosystem that needs to emerge and we certainly have the technology because we have experience learned from other parts of the world. We can help on the risk transfer side,” Mumenthaler said
In response to the country’s development of the digital economy and green transition, Swiss Re said it has doubled down on digital transformation to develop innovative and technology-based solutions with its clients and partners. “Digitalization is definitely a key driving force for the Chinese economy going forward, and it will definitely make a difference in the reinsurance industry,” the CEO said. In the country, Swiss Re has launched digital solutions including the automated insurance underwriting platform Magnum and the agricultural insurance risk management platform SRAIRMP, providing technological support to clients across industries and the entire reinsurance value chain. “I strongly believe that Swiss Re is well positioned to support China’s development with our global risk insights and expertise and solid partnerships established in China,” Mumenthaler said. In 2022, the first wetland carbon sink Gross Ecosystem Product insurance scheme was launched in Ningbo, Zhejiang province. Swiss Re played a major role in supporting the clients with its risk management expertise and product innovation capability. Swiss Re’s business strategy is aligned with China’s 14th Five-Year Plan (2021-25), said Ivan Gonzalez, CEO of Reinsurance China and president of Swiss Re China. “I think that based on all that expectation around recovery, we would hope that a lot of the initiatives that we put forward in China over the last few years go in line with the kind of the overall growth that you would expect,” Gonzalez said. “We are optimistic that some of these initiatives will bear fruit and that we will be able to continue to support the development of the Chinese market,” he added.
励展博览集团（RX）是全球领先的展会活动主办机构，它将展会上的面对面商务交流与数据及数字产品相结合，旨在为个人、行业社群和企业建立业务，帮助客户在我们主办的跨越 43 个行业、22 个国家的 400 多场展会活动中了解市场信息、寻源产品和完成交易，从而提升面对面活动的影响力，赋能客户缔结数十亿美元收入，促进全球各地本地市场及国民经济的发展，同励百业，共展商机。RX 满怀热情对社会产生积极影响，并充分致力于为所有员工创造一个包容的工作环境。www.rxglobal.com
励展博览集团大中华区（RXGC）历经 40 年的快速发展，是享誉中国的专业展览会主办机构，在中国拥有多家成员公司及合资企业，每年在中国主办约 70 场贸易展会，服务12 个专业领域并聚焦 7 个行业集群，包括汽车制造、电子制造、智能制造、礼品与零售、医疗与健康、印刷包装、餐饮与娱乐。与此同时，RXGC 全年还举办超过 100 场在线活动和运营数字工具，突破时空疆界，为行业社群提供 365 全天候产品曝光、商机建立、交易促成、洞见分享及知识学习的服务。www.rxglobal.com.cn