Shanghai: At the ongoing international import expo in Shanghai, Panasonic is captivating visitors with a smart washing machine that automatically identifies fabrics, analyzes stains, optimizes washing settings, and can be commanded via voice.
According to Namibia Press Agency, Tetsuro Homma, executive vice president of Panasonic Holdings Corporation and group chief executive for China and Northeast Asia, stated at the 8th China International Import Expo (CIIE) that many of their advanced products are conceived, produced, and first launched in China. The expo, which runs from November 5 to 10, has attracted 290 Fortune Global 500 companies and other industry leaders showcasing their latest innovations. As the world's second-largest import market, China's openness and high-quality development are fueling global demand and boosting the confidence of multinationals.
Homma emphasized that their products are developed to cater to China's massive consumer base, leveraging China's advances in AI. Panasonic has adopted DeepSeek and locally developed AI models to create appliances that support smarter, healthier lifestyles. The company employs 50,000 people in China, with 10,000 working as engineers, and its 60 Chinese entities contribute 30 percent of its global profits.
On November 4, U.S. materials science giant Dow inaugurated a cooling science studio in Shanghai to serve the emerging needs of industries such as AI, the Internet of Things, and automation in the Chinese market. Dow, participating for the eighth time at the CIIE, brought new-to-the-world products, including an immersion cooling liquid for energy-efficient data center operations.
"As China pursues high-quality development, the country requires more innovative and higher-performing materials," said Brendy Lange, president of Dow Performance Materials and Coatings. This aligns with China's recent recommendations for formulating the 15th Five-Year Plan (2026-2030) for national economic and social development, which includes measures to expand voluntary and unilateral opening up.
Executives from foreign companies, such as Danish pharmaceutical firm Novo Nordisk, are closely studying this development blueprint. Christine Zhou, senior vice president and president of Novo Nordisk China, commented on the plan's emphasis on chronic disease prevention and control, which aligns with the company's commitment to public health. Novo Nordisk has introduced 22 innovative drugs and 11 injection devices to China since entering the market 31 years ago.
The CIIE has facilitated over 1,100 foreign-funded enterprises in conducting targeted matchmaking activities, connecting new products and services with China's 1.4 billion consumers. Wang Xuekun, director of the Research Center for the Hongqiao International Economic Forum, noted that the interaction between global enterprises and China embodies win-win cooperation. China's high-quality development offers new opportunities by stimulating market demand and attracting investment, allowing multinationals to reap considerable returns. Over the past five years, the return rate of foreign direct investment in China has remained at approximately 9 percent, ranking among the highest in the world.