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"Foreign companies have become engines of Shanghai's economic development," said Shang Yuying with the Shanghai Municipal Commission of Commerce. "They are also essential to the city's industrial restructuring, and scientific and technological innovation."

"Food or clothing shortages no longer threaten the 1.3 billion Chinese, and more than 850 million Chinese are out of poverty, 770 million are employed," Chen said.

"For example, for an e-business based company who runs production bases in both Shandong and Zhejiang provinces, once it receives a purchasing order from customers in Beijing, it can directly contact delivery services to deliver goods from their production site from (geographically closer) Shandong," he said.

"Having powerful, meaningful brands is incredibly important. I think the future of companies like ours is going to be linked to our ability to continue to have brands that are meaningful to consumers and connect with them emotionally," Speichert concluded.

"For the German and other foreign companies that are already in the Chinese market, the CIIE is a great opportunity to deepen business ties between the German and Chinese sides. For the newcomers entering the Chinese market, the CIIE is a starting point for them to learn about and experience the market."