What business leaders are watching at CIIE: Part II
Simone Niven, corporate relations group executive.
What are the highlights of your exhibits at the China International Import Expo? Are you launching any new products, technologies or solutions?
As pioneers in mining and metals, Rio Tinto produces materials essential to human progress. Since early 1900s, we have been supplying China with the metals and minerals it needed for economic development and transformation.
In particular, we have supplied more than 2 billion tonnes of iron ore from our world-class Pilbara operation in Western Australia. That amount of iron ore would produce enough steel to build about 11,500 China's National Stadiums, also known as the "Bird's Nest".
At the CIIE we're partnering with the Australian and UK country pavilions to showcase our Pilbara operations through virtual reality. Visitors will be able to experience the whole iron ore supply chain, from mine operations, rail, ports and the Operation Centre that remotely operates the integrated system. The 3D immersive experience will allow the Chinese public to see the origin of the metal that goes into their households and communities.
In terms of deals, what do you expect from the CIIE? Whom are you targeting?
China is our largest market, and the home of increasingly important suppliers and partners. We want to be China's preferred supplier, preferred customer and preferred partner in our sector for many years to come. We are also very keen to explore innovative partnerships with our Chinese stakeholders beyond transactions for win-win outcomes.
One example would be our partnership with Tsinghua University on the Joint Centre for Resources, Energy and Sustainable Development since 2012. We want to bring together leading experts from China and around the world to study, generate and share ideas and best practice for solutions to the world's challenges.
Do you think the CIIE could eventually help drive the development or upgrade of the industry your company is in, and your company's strategy in China?
CIIE reaffirms China's commitment of further opening-up. We welcome this trend as we believe an increasingly integrated global economy would create economic growth, better jobs, cheaper products and more dynamic societies.
China is already our largest market. We are proud that our high-quality iron ore makes steel products last longer, and also helps China reduce pollution from its steel mills, in order to meet its sustainability goals. Our in-country technical marketing team works closely with the customers to ensure the effective utilisation of our products.
As we look to the future, we hope that our innovation and new partnerships will continue to pave new roads in China.
What's your view on China's pledge to further open up its markets to foreign companies? How would that benefit your business? Any specific examples?
China's incredible rise over the past decades is perhaps the most important example of what can happen when an economy partners with others, and opens up to global markets. Open trade and cross-border investment have been central to delivering higher living standards in nearly every country in this world, and now China is leading the way.
Open and fair trade is fundamental to the success of Rio Tinto, as almost 90 percent of our products need to move from one country to another. We look forward to partnering with Chinese companies to bring the CIIE vision to life.
What is your forecast for China's economy in the next three years? What key issues will you be watching for?
We are optimistic about China's long-term economic outlook. China is now experiencing an adjustment phase with focus on rebalancing its economy and pursuing quality growth. The supply-side reforms and pollution controls are two great examples that China is building a healthier industry structure for more sustainable growth. We believe Rio Tinto is well positioned to support this transition by providing the right product with the right quality to the right customers.
