When the China International Import Expo (CIIE), the first expo of its kind in the country, opens in Shanghai on November 5, the spotlight will be on hi-tech products and new technology.

From industrial robots and aviation electronics to machine tools and radiation therapy equipment, overseas firms are rushing to bring their latest technology to the CIIE to tap into an expanding market amid economic upgrading.

At the expo that runs till November 10, Swedish medical equipment producer Elekta will debut two advanced radiation therapy devices in the Chinese market.

"We hope the CIIE platform can create more interest from the government, experts and hospitals in cancer treatment and help the industry grow," Gong Anming, Executive Vice President and China CEO of Elekta, said.

Elekta has a manufacturing base, an Asia-Pacific training center and a global research and development center in China.

"China is our second largest market globally. We believe it will overtake the United States to become our biggest market in two or three years," Gong said.

Overseas companies like Elekta are expected to display more than 100 cutting-edge products and technologies at the CIIE. High-end and intelligent equipment will occupy one of the event's biggest exhibition zones, covering 60,000 square meters.

U.S. chip giant Qualcomm will present its frontier technologies in 5G, artificial intelligence and the Internet of Things at the expo. Senior Vice President Zhao Bin said the company, seeking to tap the Chinese market, values the opportunity of the CIIE.

Eight world-leading machine tool producers will participate, with more than 10 exhibits making their first appearance in China, Asia or even globally, according to Liang Feng, Chairman of the China National Machine Tool Sales and Technical Service Corp.

Jungheinrich, a leading intralogistics solutions provider based in Germany, will display its automatic narrow aisle truck and auto pallet mover, which can save about 30 percent of warehouse space for companies.

"Our customers in China used to be mostly foreign-funded firms with factories in the country," said Bai Daping, the company's China Managing Director. "Now we've got in touch with many Chinese state-owned companies, which is a great help for our future move to explore the Chinese market."

Wikus from Germany has already applied to participate in the second CIIE. Wang Weide, General Manager of Wikus Saw Technology (Shanghai), said the company will bring to the expo a metal band saw blade that can cut harder new materials and is designed for higher-end Chinese manufacturers.

"The upgrading of the Chinese manufacturing industry is obvious," Wang said. "We hope we can find more Chinese clients and partners through the CIIE and share the opportunities in this leading manufacturing equipment market."

China is already one of the world's largest markets for hi-tech products such as industrial robots, chips and machine tools. The CIIE is expected to give new impetus to its economic upgrading and make its market more accessible.

"Expanding the import of hi-tech products and services can accelerate China's economic restructuring and upgrading and advance the transition to reliance on technology advantages from reliance on low costs and large quantities," said Ye Bo, an associate professor at Shanghai University of International Business and Economics.

Increasing hi-tech imports can also reduce the trade surplus with the United States and the EU, according to Ye.

China has been the world's second largest importer of goods for nine consecutive years and made up 10.2 percent of global imports last year. Chinese authorities expect import of goods to reach $24 trillion in the next 15 years.

Foreign businesses are coveting the market opportunities created by one of the world's fastest growing major economies and the world's biggest middle-income group, who are demanding a better life and higher-quality goods.

Over 130 countries and regions and more than 2,800 companies have confirmed participation in the CIIE, while more than 160,000 purchasers from over 80,000 domestic and foreign companies have registered.

More than 40 companies from countries including the United States, France, Germany and Japan have signed up for the second CIIE in advance to secure exhibition booths, the CIIE Bureau said.

This is an edited excerpt of an article published by Xinhua News Agency

Copyedited by Sudeshna Sarkar

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