Seizing new opportunities in China’s market
Besides the rebound of foreign trade performance, domestic demand is also seeing a strong recovery. In recent years, China's manufacturing industry has been striving for high-quality development, high value-added and smart manufacturing. Among them, the Ministry of Industry and Information Technology in China, in collaboration with relevant departments, has released robust growth plans for ten key industries, including chemicals, building materials, automobiles, light industry, and electronic information manufacturing industry etc. It imperatively promotes the application of innovative products such as new energy vehicles, smart home appliances, green building materials in rural areas, high-end medical equipment, and robotics. Shanghai, holding for Chinaplas 2024, has released a three‑year (2023-2025) action plan to promote the high‑quality development of the city’s manufacturing industries, and strengthen of the manufacturing industry's role in supporting the overall economic development of the city, accounting for over one-fourth of the regional GDP.
Lots of industries are experiencing rapid growth. China has emerged as a global leader in the new energy vehicle market, with more than half of the world's new energy vehicles being ridden in the country. With continuous breakthroughs in battery manufacturing technology and charging infrastructure, China's new energy passenger vehicle sales are projected to reach 8.5 million units in 2023, with a penetration rate expected to reach 36% as forecasted by China Passenger Car Association (CPCA). In the first eight months of 2023, installed capacity of photovoltaic power generation reached 113 GW, representing a year-on-year growth of over 150%. From smart robot vacuums to smart speakers, smart kitchen appliances, and smart refrigerators, an increasing number of smart home appliances can be found in Chinese households. The market of China's smart home appliances is projected to reach RMB 192.4 billion (USD 26.3 billion) this year.
Media Research from Guangzhou predicted that the pre-packaged food market in China can reach RMB 510 billion (USD 69.8 billion) in 2023, bringing new demand and creating tremendous prospects for the packaging market. China's medical device market has already become the second largest in the world. The development of high-end medical equipment and related technologies is progressing rapidly, with the market of active medical devices in China expected to reach RMB 49.6 billion (USD 6.8 billion) by 2030.
The industrial transformation is accelerating, and new impetus is becoming more prominent. "This year, during our communications with plastics and rubber suppliers, we evidently felt that both overseas and local companies have vast confidence in the Chinese market and are very optimistic about exploring business opportunities in China.” said Ms. Ada Leung, General Manager of Adsale Exhibition Services Ltd., the organizer of Chinaplas.
Time to show-off innovative products and technologies to the world
The immense demand of exhibition booths in CHINAPLAS 2024 shows that the confidence of the plastics and rubber industries has recovered just like the economy does. "Reserving booths, showcasing capabilities, capturing business opportunities, and building brand awareness" have become the must-do list of exhibitors to demonstrate their strengths in the post pandemic era. In response to the exhibiting demand from the industry, the exhibition area will increase by over 11% compared with the show in 2018 at the same venue in Shanghai.
During the expansion of the show, it is expected to have a more diverse range of exhibits in the fairground, as well as exhibitors. International exhibitors are returning to the exhibition enthusiastically and European pavilions are foreseen to regain their pre-pandemic scale. State-owned enterprises and private companies in China, including “Professionalization, Refinement, Specialization and Innovation (PRSI)” enterprises and “Little Giant” companies, shall shine together on the stage. These industrial leaders are bringing breakthrough technologies and showcasing limitless potential for independent innovation. The technologies of plastics and rubber industries have evolved rapidly, with its applications continuously expanding and developing. With over 4,000 exhibitors, professional trade buyers in different application sectors will find a variety of advanced and environmentally friendly solutions as well as intelligent manufacturing technologies for the exploration of innovation, skill enhancement, efficiency improvement, and rapid response to market demands. Technological innovations, serving as the "golden key”, will foster the high-quality development of the plastics and rubber industries.
