Yicai Global) Nov. 7 -- Foreign firms have increasing confidence in their China business, the chairman of Qualcomm China told Yicai Global during the ongoing China International Import Expo in Shanghai.

“China’s improving business environment is boosting foreign enterprises’ confidence in operations in the country,” said Meng Pu, adding that Qualcomm has been “expanding its circle of friends in China in the five years since the first CIIE.”

The first CIIE was held on the eve of the commercialization of fifth-generation technology, Meng noted, and with more application of 5G technology in non-smartphone sectors, Qualcomm has been cooperating with a growing number of companies.

“Our cooperation products have expanded from the initial mobile phones into autos, industrial internet, IoT, artificial intelligence, as well as extended reality,” Meng said.

At this year’s CIIE, Qualcomm has set up a metaverse experience garden using cutting-edge technologies like 5G, AI and XR at its 200-square-meter exhibition area.

Mobile phone manufacturer partners remain a key feature of Qualcomm’s exhibition this year, despite the application of the company’s products are expanding into other industries. Qualcomm is displaying 15 smartphones from 10 Chinese mobile phone brands including Xiaomi, Honor, Oppo and Vivo at the fifth CIIE.

Close cooperation with Chinese mobile phone manufacturers is a key part of Qualcomm’s development in China and globally, Meng told Yicai Global. Qualcomm displayed its Snapdragon flagship smartphones at the CIIE in previous years and this year is no different. “At Qualcomm’s exhibition this year, you can see the latest 5G smartphones launched by our Chinese partners.”

In the past five years, Qualcomm has annually increased its number of employees in China by at least 20 percent and it has rolled out a Qualcomm venture capital project to support the development and innovation of Chinese startups.

In the past five years, amid the general slowdown in business activities due to the Covid-19 pandemic, the number of Chinese startups that have received Qualcomm Venture’s investment have increased about 70 percent to near 90, Meng added.

Editors: Tang Shihua, Tom Litting