TCP Group at the Sixth CIIE with Red Bull Products: Turning from an Exhibitor into an Investor to Boost China-Thailand Economic and Trade Exchanges
On November 5, the much-awaited sixth China International Import Expo (CIIE) kicked off in Shanghai, China. Held around the theme of "New Achievements in Chinese Modernization, New Opportunities for the World" on the special occasion of the 10th anniversary of the Belt and Road Initiative (BRI), this year's CIIE has attracted exhibitors and guests from 154 countries, regions, and international organizations, of which 64 are BRI participants including Thailand. As a representative Thai enterprise investing in China, TCP Group has attended the CIIE for five consecutive years. For this year's event, it has brought Chinese consumers a diversified portfolio of products from the "House of Great Brands." Among them are Red Bull® Vitamin Flavor Drink and Zero-sugar Fruit-flavor Red Bull® Vitamin Energy Drink, two classic products specially developed for the Chinese market. As a five-time CIIE participant, TCP Group stands as a shining example of the CIIE's spillover effect of how exhibits have turned into goods and exhibitors into investors. Meanwhile, TCP Group's active participation in the event also speaks volumes about its commitment to expand its investment in the Chinese market and promoting China-Thailand economic and trade exchanges.
Now, the annually held CIIE has become an important platform for more and more exhibitors of the Belt and Road countries to tap into the Chinese market. "The CIIE's spillover effect and the BRI's driving effect enhance each other. Through the excellent platform provided by the CIIE, new products and technologies are commercialized at a remarkably faster pace, thus turning exhibits into goods; worldwide enterprises are gathered together for trade and form an international market in China, thus turning exhibitors into investors. Now in its sixth year, the CIIE has shown TCP Group and other enterprises China's resolution to expand high-quality and all-round opening-up and enhance cooperation with foreign countries. And this has boosted our confidence in expanding in the market," said CEO of TCP Group Saravoot Yoovidhya.
Turning Exhibits into Goods: TCP Group Seizes the Opportunities Brought by the CIIE to Expand in China
As an international open platform developed by China to unswervingly expand high-level opening-up, the CIIE provides an important window into the "vast market" of China. As an old friend of the CIIE, TCP Group has participated in this event for five years in a row, witnessing its strong spillover effect of turning exhibits into goods. Thanks to the platform provided by it, TCP Group has tapped into the huge market potential in China. At the same time, TCP Group has managed to better understand what Chinese consumers need and want by gathering direct feedback from the market, thus bringing more high-quality products to Chinese consumers.
At the second CIIE in 2019, TCP Group's Red Bull® Vitamin Flavor Drink, a new addition to Red Bull's global product portfolio, made its debut, which later became a flagship product popular with Chinese consumers for its classic flavor and excellent quality. At the third CIIE in 2020, TCP Group unveiled a series of flagship products under the "House of Great Brands" to Chinese consumers, deepening their understanding of the Group. At the fourth CIIE in 2021, TCP Group officially announced the new brand concept of "Energizing a Better World for All," injecting new vitality into the Group's development in China. At the fifth CIIE in 2022, TCP Group unveiled a new Red Bull product Zero-sugar Fruit-flavor Red Bull® Vitamin Energy Drink, thus constantly creating new consumption scenarios. This year, TCP Group once again came to the CIIE event with its diversified product portfolio under the "House of Great Brands." Notably, Red Bull® Vitamin Flavor Drink and Red Bull® Vitamin Energy Drink which were exhibited at previous CIIE events have now gained great popularity among Chinese consumers, becoming a prime example of how the CIIE and its exhibitors have reached a win-win outcome. Besides, TCP Group also launched the globally first bottled Red Bull product Red Bull® Energy Drink this year. Characterized by upgraded packaging and formula to provide EXTRA energy support, this new rollout comes as a part of TCP Group's efforts to constantly enrich Red Bull's product portfolio to better cater to the diversified needs of Chinese consumers.
President of TCP China Supachai Junkeiat said, "It is generally recognized among exhibitors that the CIIE is an excellent window into the changing consumer needs in the Chinese market. As one of the food and beverage giants in Thailand, TCP Group has been in the energy beverage industry for over 60 years, gaining a wealth of deep insights into the industry and developing mature products and a good market reputation in every subcategory. Through the exchange platform provided by the CIIE, we can combine our industry insights with the ongoing consumption trends in China, thus meeting the diverse consumer needs with diversified innovative products and stimulating the consumption vitality in the Chinese market."
Turning Exhibitors into Investors: TCP Group Increases Investment in China to Promote China-Thailand Economic and Trade Cooperation
This year represents the 10th anniversary of the BRI. Over the past decade, the BRI has played a constructive role in promoting connectivity between countries, helping participating countries and regions better integrate into the global industrial chain, supply chain, and value chain, and creating more space for development. A special mention should go to the recent Third Belt and Road Forum for International Cooperation. During the forum, China and Thailand reaffirmed the close China-Thailand Comprehensive Strategic Cooperative Partnership, highly commended the joint cooperation under the BRI, and planned efforts to align the BRI with Thailand's new development strategies, achieve high-quality and sustainable common development, and build a China-Thailand community with a shared future for enhanced stability, prosperity and sustainability. On a separate note, this year also marks the historic full entry into force of the RCEP. As China-Thailand economic and trade ties grow closer, a series of policy incentives are put in place, and more opening-up dividends are unleashed, China and Thailand have seen the scope for their investment and trade cooperation constantly expand. Therefore, TCP Group, one of the leading food and beverage companies in Thailand, is full of confidence in continuing to expand in China.
This year also marks the 30th anniversary of the Red Bull brand's entry into the Chinese market. Over the past decades, TCP Group has invested more and more in China, honoring its long-held commitment to developing and expanding in China. In March 2022, its project of the TCP Red Bull Beverage (Sichuan) Production Base with a total investment of RMB 2 billion broke ground. More than a year later in July 2023, the construction of another production base project, the TCP Red Bull Guangxi Production Base in Guangxi-ASEAN Economic and Technological Development Zone with a total investment of RMB 1.3 billion commenced. In the past two years, TCP Group has invested a total of RMB 3.3 billion in China. By continuously expending its investment in the country, TCP Group has been developing Red Bull's business to further tap into the Chinese market and inject fresh impetus into China-Thailand economic and trade exchanges.
Mr. Saravoot Yoovidhya said, "Now heading to another golden decade, the Belt and Road Initiative has injected strong momentum into the China-Thailand Comprehensive Strategic Cooperative Partnership. At the same time, as the RCEP becomes fully effective, more opportunities have been opened up for China-Thailand investment, economic, and trade cooperation. Standing at a new historical point, we are more than ever looking forward to seizing the new opportunities in China's market by pursuing regional cooperation and opening wider. And our confidence in investing in the Chinese market has grown stronger. Going forward, we will further leverage our advantages of resources in the industry and the strong brand influence of Red Bull, put in place and increase our investments in China, inject new vitality into China-Thailand economic and trade exchanges, and work closely with more Chinese partners to energize a better world for all!"
