Smart Retail Boosts Import Demand
Suning Holdings Group (‘Suning’), the leading Chinese enterprise giant, today announces it will actively participate in the China International Import Expo (CIIE) and hold the ‘2018 Suning Global Supply Chain Summit’ on 6th of November.
The CIIE, which will commence on 5th November in Shanghai, is the first import-themed expo held by the Chinese government. According to its official website, the CIIE is China’s first expo event expected to give firm support to trade liberalization and economic globalization and actively open the Chinese market to the world. A total of 2,800 companies from all G20 member states, as well as 50 countries and regions along the ‘Belt and Road’ will participate in the expo.
As the leading smart retail enterprise in China, Suning has established long-term cooperation with numerous international brands and has pioneered the importing of high-quality products, especially electronic appliances, to serve Chinese customers over the past two decades. In recent years, Suning has been exploring new ways to create and source more quality products to cater for the increasing demand of China’s consumption upgrade. At the CIIE, Suning will explore possibilities for further cooperation with overseas brands and expects to find potential partners.
Last month, Suning announced its ‘2018-2020 Global Procurement Plan’ aiming to expand its purchasing scope and bring in high quality goods and services globally.
Sun Weimin, Vice Chairman of Suning.com, said: “We plan to import goods worth 10 billion euros in the coming two years. The CIIE provides the perfect platform for us to meet as many exciting brands as possible. During the event, we expect to import at least 1,000 kinds of products and services that have not yet been sold in the domestic market.”
Suning has been officially designated by the government to assist in recruiting exhibiting companies and has successfully invited its long-term partners such as A.O Smith, Whirlpool and Metcash, to name a few, to attend. FC Internazionale Milano, acquired by Suning in 2016 and LAOX, one of the largest electronics retailers in Japan, will exhibit in the Service Trade Exhibition Area. FC Internazionale Milano will be the only football club to present at the CIIE.
On 6th November, Suning will hold its ‘2018 Suning Global Supply Chain Summit’ to bring together retail industry players including its partners and retail enterprises, as well as government officials, to share opinions and exchange prospects of the retail industry, discuss new opportunities brought by China’s endeavor to expand overseas imports for global trade in goods and services, and debate how China’s retail model will contribute to the mutual development of both domestic and international brands.
Founded in 1990, Suning is one of the leading commercial enterprises in China with two public companies in China and Japan respectively. In 2018, Suning Holding ranked second among the top 500 non-state owned enterprises in China with annual revenue of 80.85 billion USD (557.9billion RMB). With the mission of “Leading the Ecosystem across Industries by Creating Elite Quality of Life for All”, Suning has strengthened and expanded its core business through eight vertical industries: Suning.com, Logistics, Financial Services, Technology, Real Estate, Sports, Media &Entertainment, and Investment, among which Suning.com is listed on the 2017 and 2018 list of Fortune Global 500.