October, 10, 2023 – China's economy is showing signs of quick recovery while Asia acts as the locomotive of the global economy. As the economy continues to rebound, the exhibition industry, which is regarded as an economic barometer, is experiencing a strong recovery. Following its impressive performance in 2023, Chinaplas 2024 will be held from April 23 - 26, 2024, occupying all 15 exhibition halls of the National Exhibition and Convention Center (NECC) in Hongqiao, Shanghai, PR China, with a total exhibition area of over 380,000 sqm. It is ready to receive more than 4,000 exhibitors from around the world.
The market trends of decarbonization and high-value utilization are unlocking the golden opportunities for the high-quality development of the plastics and rubber industries. As Asia's no. 1 plastics and rubber trade fair, Chinaplas will spare no efforts to promote the high-end, intelligent, and green development of the industry. The exhibition is making a strong comeback to Shanghai after a six-year absence, upholding the anticipation within the plastics and rubber industries for this reunion in Eastern China.
Full RCEP Implementation Changing the Landscape of Global Trade
The industrial sector is the cornerstone of the macro-economy and the frontline for stable growth. Starting from June 2, 2023, the Regional Comprehensive Economic Partnership (RCEP) officially took effect in the Philippines, remarking the full implementation of RCEP among all 15 signatories. This agreement allows for the sharing of economic development benefits and reinforcing the growth of global trade and investment. For most RCEP members, China is their largest trading partner. In the first half of 2023, the total import and export volume between China and other RCEP members reached RMB 6.1 trillion (USD 8,350 billion), contributing over 20% to China's international trade growth. In addition, as the "Belt and Road Initiative" celebrates its 10th anniversary, there is a pressing demand for infrastructure and manufacturing industry, and the market potential along the Belt and Road routes is poised for development.
Taking the automobile manufacturing industry as an example, Chinese automakers are speeding up their overseas market expansion. In the first eight months of 2023, car exports reached 2.941 million vehicles, a year-on-year increase of 61.9%. In the first half of 2023, electric passenger vehicles, lithium-ion batteries, and solar cells, also as the "Three New Products" of China's foreign trade, recorded a combined export growth of 61.6%, driving an overall export growth of 1.8%. China supplies 50% of global wind power generation equipment and 80% of solar component equipment, significantly reducing the cost of renewable energy utilization worldwide.
What behind these numbers is the accelerated improvement in the quality and efficiency of foreign trade, the continuous upgrading of industries, and the influence of "Made in China". These trends also fuel the demand for plastics and rubber solutions. In the meantime, overseas companies keep on expanding their business and investment in China. From January to August 2023, China absorbed a total of RMB 847.17 billion (USD 116 billion) from Foreign Direct Investment (FDI), with 33,154 newly established foreign-invested enterprises, representing a 33% year-on-year growth. As one of the fundamental manufacturing industries, the plastics and rubber industries are widely applied, and various end-user industries are eagerly preparing to source innovative plastics and rubber materials and adopt cutting-edge machinery technology solutions to seize the opportunities brought by the new global economic and trade landscape.
The global buyer team of the show organizer has received positive feedback during their visits to overseas markets. A number of business associations and companies from various countries and regions have expressed their anticipation and support for Chinaplas 2024, and have started organizing delegations to join this annual mega event.
Seizing New Opportunities in China's Market
Besides the rebound of foreign trade performance, domestic demand is also seeing a strong recovery. In recent years, China's manufacturing industry has been striving for high-quality development, high value-added and smart manufacturing. Among them, the Ministry of Industry and Information Technology in China, in collaboration with relevant departments, has released robust growth plans for ten key industries, including chemicals, building materials, automobiles, light industry, and electronic information manufacturing industry etc. It imperatively promotes the application of innovative products such as new energy vehicles, smart home appliances, green building materials in rural areas, high-end medical equipment, and robotics. Shanghai, holding for Chinaplas 2024, has released a three‑year (2023-2025) action plan to promote the high‑quality development of the city's manufacturing industries, and strengthen of the manufacturing industry's role in supporting the overall economic development of the city, accounting for over one-fourth of the regional GDP.
Lots of industries are experiencing rapid growth. China has emerged as a global leader in the new energy vehicle market, with more than half of the world's new energy vehicles being ridden in the country. With continuous breakthroughs in battery manufacturing technology and charging infrastructure, China's new energy passenger vehicle sales are projected to reach 8.5 million units in 2023, with a penetration rate expected to reach 36% as forecasted by China Passenger Car Association (CPCA). In the first eight months of 2023, installed capacity of photovoltaic power generation reached 113 GW, representing a year-on-year growth of over 150%. From smart robot vacuums to smart speakers, smart kitchen appliances, and smart refrigerators, an increasing number of smart home appliances can be found in Chinese households. The market size of China's smart home appliances is projected to reach RMB 192.4 billion (USD 26.3 billion) this year.
iiMedia Research from Guangzhou predicted that the pre-packaged food market in China can reach RMB 510 billion (USD 69.8 billion) in 2023, bringing new demand and creating tremendous prospects for the packaging market. China's medical device market has already become the second largest in the world. The development of high-end medical equipment and related technologies is progressing rapidly, with the market size of active medical devices in China expected to reach RMB 49.6 billion (USD 6.8 billion) by 2030.
The industrial transformation is accelerating, and new impetus is becoming more prominent. "This year, during our communications with plastics and rubber suppliers, we evidently felt that both overseas and local companies have vast confidence in the Chinese market and are very optimistic about exploring business opportunities in China." said Ms. Ada Leung, General Manager of Adsale Exhibition Services Ltd., the organizer of Chinaplas.
Time to Show-off Innovative Products and Technologies to the World
The immense demand of exhibition booths in Chinaplas 2024 shows that the confidence of the plastics and rubber industries has recovered just like the economy does. "Reserving booths, showcasing capabilities, capturing business opportunities, and building brand awareness" have become the must-do list of exhibitors to demonstrate their strengths in the post pandemic era. In response to the exhibiting demand from the industry, the exhibition area will increase by over 11% compared with the show in 2018 at the same venue in Shanghai.
During the expansion of the show, it is expected to have a more diverse range of exhibits in the fairground, as well as exhibitors. International exhibitors are returning to the exhibition enthusiastically and European pavilions are foreseen to regain their pre-pandemic scale. State-owned enterprises and private companies in China, including "Professionalization, Refinement, Specialization and Innovation (PRSI)" enterprises and "Little Giant" companies, shall shine together on the stage. These industrial leaders are bringing breakthrough technologies and showcasing limitless potential for independent innovation. The technologies of plastics and rubber industries have evolved rapidly, with its applications continuously expanding and developing. With over 4,000 exhibitors, professional trade buyers in different application sectors will find a variety of advanced and environmentally friendly solutions as well as intelligent manufacturing technologies for the exploration of innovation, skill enhancement, efficiency improvement, and rapid response to market demands. Technological innovations, serving as the "golden key", will foster the high-quality development of the plastics and rubber industries.
Online Pre-registration is Now Open
"In 2023, Chinaplas has reached a new record high in terms of exhibition area and no. of visitors, giving us great confidence and determination. With the accumulated market demands and expectations for the show, returning to Shanghai means a fresh start and brand-new journey to us. As we enter another crucial year, we will strive to present a splendid annual event for the plastics and rubber industries. Look forward to meeting you all in Chinaplas 2024 in Shanghai and jointly promoting the high-quality development of the plastics and rubber industries," said Ms. Leung.
The online pre-registration to Chinaplas 2024 has started. All visitors are required to pre-register and reserve the entry dates in advance for admission correspondingly. Click HERE to pre-register now for an admission ticket at RMB 50 or USD 7.5. Pre-registered visitors shall receive their Visitor eBadge (for local visitors) or eConfirmation Letter (for overseas visitors). Admission tickets are available on a first-come, first-served basis.