China’s economy is showing signs of quick recovery while Asia acts as the locomotive of the global economy. As the economy continues to rebound, the exhibition industry, which is regarded as an economic barometer, is experiencing a strong recovery. Following its impressive performance in 2023, CHINAPLAS 2024 will be held from April 23 – 26, 2024, occupying all 15 exhibition halls of the National Exhibition and Convention Center (NECC) in Hongqiao, Shanghai, PR China, with a total exhibition area of over 380,000 sqm. It is ready to receive more than 4,000 exhibitors from around the world.
The market trends of decarbonization and high-value utilization are unlocking the golden opportunities for the high-quality development of the plastics and rubber industries. As Asia’s no. 1 plastics and rubber trade fair, CHINAPLAS will spare no efforts to promote the high-end, intelligent, and green development of the industry. The exhibition is making a strong comeback to Shanghai after a six-year absence, upholding the anticipation within the plastics and rubber industries for this reunion in Eastern China.
Full RCEP Implementation Changing the Landscape of Global Trade
The industrial sector is the cornerstone of the macro-economy and the frontline for stable growth. Starting from June 2, 2023, the Regional Comprehensive Economic Partnership (RCEP) officially took effect in the Philippines, remarking the full implementation of RCEP among all 15 signatories. This agreement allows for the sharing of economic development benefits and reinforcing the growth of global trade and investment. For most RCEP members, China is their largest trading partner. In the first half of 2023, the total import and export volume between China and other RCEP members reached RMB 6.1 trillion (USD 8,350 billion), contributing over 20% to China’s international trade growth. In addition, as the “Belt and Road Initiative” celebrates its 10th anniversary, there is a pressing demand for infrastructure and manufacturing industry, and the market potential along the Belt and Road routes is poised for development.
Taking the automobile manufacturing industry as an example, Chinese automakers are speeding up their overseas market expansion. In the first eight months of 2023, car exports reached 2.941 million vehicles, a year-on-year increase of 61.9%. In the first half of 2023, electric passenger vehicles, lithium-ion batteries, and solar cells, also as the “Three New Products” of China’s foreign trade, recorded a combined export growth of 61.6%, driving an overall export growth of 1.8%. China supplies 50% of global wind power generation equipment and 80% of solar component equipment, significantly reducing the cost of renewable energy utilization worldwide.
What behind these numbers is the accelerated improvement in the quality and efficiency of foreign trade, the continuous upgrading of industries, and the influence of “Made in China”. These trends also fuel the demand for plastics and rubber solutions. In the meantime, overseas companies keep on expanding their business and investment in China. From January to August 2023, China absorbed a total of RMB 847.17 billion (USD 116 billion) from Foreign Direct Investment (FDI), with 33,154 newly established foreign-invested enterprises, representing a 33% year-on-year growth. As one of the fundamental manufacturing industries, the plastics and rubber industries are widely applied, and various end-user industries are eagerly preparing to source innovative plastics and rubber materials and adopt cutting-edge machinery technology solutions to seize the opportunities brought by the new global economic and trade landscape.
The global buyer team of the show organizer has received positive feedback during their visits to overseas markets. A number of business associations and companies from various countries and regions have expressed their anticipation and support for CHINAPLAS 2024, and have started organizing delegations to join this annual mega event.
Post time: Jan-16-2024