Hu Wei, regional president, leads Reed Exhibitions' expansion into emerging sectors in China

The key to holding a successful industry expo or exhibition is to make sure visitors and exhibitors are able to meet each other and find their business solutions, said Hu Wei, regional president of Reed Exhibitions in charge of the China and South Korea markets.

Reed Exhibitions' local arm held more than 50 events in the country last year. China is one of Reed's top markets in the world.

Events organized by Reed Exhibitions' local arm span multiple industries like healthcare, manufacturing, sports and lifestyle, including segments such as gaming, household products and gifts.

"It usually takes us at least 12 to 18 months to conduct research and collect data before we launch a new show. But that's how we establish our credibility among our customers－by preparing more and mitigating potential risk," said Hu.

Last year, Reed Exhibitions' local arm had the best-ever year in China, in terms of both revenue and profit, he said.

"Performance across the portfolio was very strong," said Hu, who has already led Reed Exhibitions' business in China for three years now. "The growth rate in 2017 has more than doubled from the level three years ago. We're seeing accelerated growth, thanks to the great efforts by our teams and a stable economic environment."

Hu has overseen the rollout of a service software that accurately matches exhibitors and visitors based on their needs, called Matchmaking. The program has added value to more than 20 shows already.

For example, the Alu China show is transforming itself by going green. "We're adding a new show called Light Weight Asia, which serves the unmet industry needs of having lighter and more environment-friendly materials and finished products," he said.

Going forward, Reed Exhibitions will further expand into several new sectors in China, including the packaging industry.

China's fast-growing courier industry has boosted the growth of the packaging industry, for which Reed Exhibitions organizes the SinoCorrugated and SinoFoldingCarton events.

SinoCorrugated has grown into one of the world's leading exhibitions of the corrugated materials segment. Running concurrently with SinoCorrugated, SinoFoldingCarton is another leading professional show for folding cartons, post-print equipment, consumables and technologies in Asia-Pacific.

Working together with the China Packaging Federation, Reed has launched a new show called the China Packaging Container Expo (PACKCON) in 2016. SinoCorrugated has played an important role in the development of the corrugated sector in China, from introducing the latest technology and most advanced equipment to China in the early years to exporting Chinese equipment and technology to the global marketplace these days.

Hu said the Chinese economy is going through structural changes, with consumption contributing more to the GDP growth. There is a strong correlation between the growth of exhibitions and the industries they serve.

"We're seeing some new growth-drivers in our portfolio," he said. For example, the FIBO show has strong tailwind in the sports sector.

Growing up in China, Hu went to graduate school in the United States and received his MBA in finance in 1999. He started his career as a financial analyst for Northwest Airlines in Minneapolis and continued his career at Best Buy, the world's top consumer electronics retailer.

Hu said he values his 10-year tenure at Best Buy where he was given opportunities to take on a variety of roles in finance, supply chain and merchandising. "My management style and philosophy has been heavily shaped by my work at Best Buy," Hu said. "One of the most important things I've learned is to trust and empower your team."

In late 2013, he decided to return to China. "The main reason was to stay close to the family, particularly my mom," he said.

Hu is impressed by the fast-changing Chinese market. He hopes to bring more advanced technology to the business of industry exhibitions.

A good example was the rollout of Reed Connect, a mobile app, which makes it easier for visitors and exhibitors to communicate and exchange information. "We will continue to harness the power of technology to better serve our customers," Hu said.