Exhibition News | Focusing on future industry, Huiyuan Group organized 40 companies to participate in INNOPROM 2024 in Russia

The 13th Russian International Industrial Fair (INNOPROM) will be held in Yekaterinburg from July 8 to 11, 2024. INNOPROM 2024 will focus on industrial technology, digital transformation, intelligent manufacturing and sustainable development. Huiyuan Group organized 40 domestic enterprise representatives to participate in the exhibition to explore new directions for future industrial development and experience new trends and new achievements in the industrial field.

Exhibition Introduction

Exhibition Name: 2024 Russian International Industrial Expo 

Exhibition location: Yekaterinburg 

Exhibition time: July 8-11, 2024

Exhibition scale: 50,000 square meters

Exhibition categories: parts, automation, power transmission, metal processing, industrial IT, power engineering, transportation engineering, new materials

The Yekaterinburg International Industrial Exhibition was founded in 2010 and is a grand industrial event in Russia and the CIS region. The exhibition is held once a year in Yekaterinburg, the industrial center of Russia and the third largest city.

The Russian government attaches great importance to the exhibition and regards it as an important platform for displaying the country's industrial achievements and conducting foreign cooperation in high-tech and innovation fields. Prime Minister Medvedev has attended the exhibition for nearly six consecutive times and delivered keynote speeches. The exhibition has become an international platform for enterprises to showcase advanced products and technologies, and a platform for exhibitors to find new customers, suppliers, partners and investors.

From 2015 to 2023, China, India, Japan, South Korea, Turkey, Italy, Kazakhstan and Belarus will successively serve as partner countries of the exhibition. Every year, 1,500 journalists from all over the world report on the exhibition, and more than 100 professional forums and conferences are held during the exhibition. At the same time, the exhibition will be one of the important business activities between China and Russia in the economic and trade fields in 2024.

Market Analysis

2024 marks the 75th anniversary of the establishment of diplomatic relations between China and Russia, and also the opening year of the China-Russia Cultural Year. As a friendly neighbor of China, bilateral trade between the two countries continues to rise. According to data from the Ministry of Commerce of China, in 2023, the bilateral trade volume between China and Russia reached US$240.1 billion. The Russian Ministry of Economic Development predicts that from 2025 to 2027, the Russian economy will continue to grow steadily, with an average annual growth rate of 2.3% to 2.4%.

Mechanical and electrical products, chemical products, and transportation equipment are the three categories of products that Russia imports more, accounting for about 56% of Russia's total imports. Germany, the United States, and Japan are strong competitors of Chinese companies in exports to Russia. After the Russian-Ukrainian conflict, with the sanctions and blockades imposed by Western countries on Russia, a large number of Western companies have withdrawn from the Russian market, which is an opportunity for Chinese products to enter the Russian market.

Yekaterinburg, where the exhibition is held, was founded in 1723 and named after Empress Catherine I. It is the third largest city in Russia, second only to Moscow and St. Petersburg. It is an important transportation hub, industrial base and scientific and educational center in Russia, and also an important military industrial production base in Russia. Most of the companies in this area are engaged in the production of heavy energy, transportation and chemical machinery and equipment, military technical equipment, non-ferrous metals and chemical products. Large industrial companies such as "Ulster Iseti Steel Plant", "Ural Machinery Manufacturing Co., Ltd.", "Heavy Electric Machinery Co., Ltd." and "Turbine Engine Co., Ltd." are gathered here.

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