A batch of 23 companies signed up for the business exhibition of the seventh China International Import Expo (CIIE) in Shanghai on Tuesday, a show of foreign companies' confidence in the expo and the Chinese economy.

Among the 23 exhibitors are big names such as PepsiCo, Tesla, 3M, Tempur, GSK, Bayer, Haleon, and Sumimoto Electric.

PepsiCo has been an active CIIE participant since the first edition of the expo in 2018, but it wasn't until last year that it joined the expo's business exhibition.

"The CIIE is a symbol of China's high-quality development and opening-up. It facilitates economic and trade cooperation, and has helped PepsiCo know the Chinese market and local consumer demands better," said Daniel Shih, vice president of corporate affairs, APAC and Greater China at PepsiCo.

Shih shared that PepsiCo had managed to showcase its latest practices and innovation at the sixth CIIE last year, and this had helped enhance the company's influence.

"We have seen the CIIE grow in influence and regard the expo as a critical platform to enhance communications with both international and local stakeholders. We are set to take part in the 7th CIIE this year again, and it shows our solid confidence in and support to the Chinese economy," said Shih.

Additionally, the favorable policies that the expo has offered, including an early bird discount for those who sign up before Jan 30, have also boosted registration figures.

"Given that we have decided to continue to take part in the CIIE, the favorable policies offered along with early registration can help companies reduce cost as well," said Takahiro Iguchi, director of corporate branding at Sumimoto Electric.

To date, more than 300 companies have secured their spots in the business exhibition at the 7th CIIE, which will take place in Shanghai on Nov 5 to 10. These companies have booked an exhibition area of over 130,000 square meters, according to the CIIE Bureau.