The China International Import Expo (CIIE), a national-level trade fair, has seen active participation by foreign medical and healthcare companies which are looking to increase their market share in the country.

The expo, as an international platform, welcomes enterprises from around the globe with open arms, and is organized in an innovative manner, said Richard Yiu, general manager of Roche Diagnostics China, at a promotional conference held by the CIIE Bureau on Feb 25. The company has attended the event for three consecutive years and will unveil more leading-edge products at the fourth edition in an effort to grow with the Chinese market, Yiu added.

China's medical equipment market was worth an estimated 800 billion yuan ($123.63 billion) in 2020, over two times more than in 2015, according to a white paper released by Deloitte on March 1. The report shows that the medical equipment industry has been expanding at an average annual rate of around 20 percent since 2015, always surpassing the GDP growth rate.

Between 2015 and 2019, China's foreign trade volume of medical equipment increased by nearly 10 percent every year, much higher than the global average, according to the white paper.

At the third CIIE, dozens of leading companies in the medical and healthcare industry, such as Johnson & Johnson, Abbott, and Philips, were featured in the expo's medical equipment and healthcare exhibition area, which occupied about 69,000 square meters. Many domestic medical institutes and enterprises visited the exhibition to make purchases.

The fourth CIIE will be held from Nov 5 to 10 in Shanghai. Companies interested in attending the expo can register here: https://www.ciie.org/ciie/f/book/register?locale=en

Sources: chinanews.com, China International Import Expo Bureau