(Yicai) March 19 –--The China International Import Expo provides overseas companies with a vital gateway to access the Chinese market, enabling them to rapidly gain an accurate understanding of local consumer demands, a number of executives from multinationals told Yicai at the “CIIE Comes to Hubei” roadshow yesterday.

LifeTilt made important connections with supermarkets and e-commerce platforms at the CIIE last year, which was the company’s first appearance at the trade show, the deputy general manager of Hungarian healthcare firm told Yicai at the roadshow in Wuhan, central Hubei province. Within just a few months, the Hungarian firm’s anti-aging skincare, weight management, and cellular rejuvenation products were selling well in China, he added.

LifeTilt is attending the Wuhan event because the company is hoping to make its first investment in the country in the city, the deputy GM said. LifeTilt not only wants to sell its products in China, but also plans to conduct clinical trials as well as research and development in the country and to eventually export new products to Japan and Southeast Asia, he added.

Many of the new products that L'Oréal debuts at the CIIE become instant hits in China, Lan Zhenzhen, head of public affairs for the French cosmetics giant’s North Asia and China divisions, told Yicai at the roadshow, which attracted 116 guests, including representatives from Fortune 500 companies, industry leaders and investment firms, all on the lookout for opportunities in the region.

L'Oréal's low-watt hairdryer, which was unveiled at last year’s CIIE, is set to hit the Chinese market in April, Lan said, adding that she is confident it will replicate the success of the company’s lipstick printer.

L'Oréal, which operates Asia Pacific’s largest makeup production base in Yichang, northern Hubei province, hopes to leverage the CIIE platform to expand its local footprint, she added.

GE Aerospace secures numerous orders each year at the CIIE and the US aircraft engine manufacturer plans to keep hiking its investment in China, said Xiang Weiming, president of the Evendale-based firm’s China division.

Hubei is a key aviation hub in China, and GE is seeking deeper collaboration with the local supply chain through the ‘CIIE in Hubei’ event, Xiang said.

Over 21 intended investment and trade deals worth CNY32 billion (USD4.4 billion) were inked at the "CIIE Comes to Hubei" event, according to the Hubei Department of Commerce. Twelve agreements were penned on site, including imports of iron ore from Australia’s Kimberley Metals Group, of camel milk powder from Kazakhstan’s Golden Camel Group, and of cold chain products from Brazil’s JBS.

The CIIE Bureau has been holding the ‘CIIE in Local Regions’ roadshow initiative for five years. The goal is to amplify the CIIE’s spillover effect by turning expo exhibits into marketable goods and exhibitors into long-term investors, thereby boosting regional economic growth.

Editors: Tang Shihua, Kim Taylor