Reed Sinopharm Exhibitions Plans World's Largest Integrated Health Industry Event in 2015
July 7, 2014
Reed Sinopharm Exhibitions, a joint venture between Reed Exhibitions, the world’s leading events organizer, and Sinopharm, China's largest state-owned pharmaceutical group, will launch The Health Industry Summit (“tHIS”) next year in Shanghai.
This new event, to be held May 15-18 at the National Exhibition and Conference Center, which is the world’s largest single block exhibition complex, will combine a Summit program of more than 100 conferences with a massive 260,000 sqm exhibition area.
The event will be a collocation of three health industry exhibitions - CMEF, PHARMCHINA and API CHINA - effectively forming the world’s largest integrated health industry event, according to show organizers.
With China predicting its health industry to grow into an RMB 8 trillion ($1.2 trillion) industry by 2020, and a strengthening of health sector demand, the move clearly is intended to secure more international trade and influence for China’s already sizable sector.
Along with the exhibition, which completes the value chain for pharmaceutical and medical industries, an extensive conference program is designed to share the latest thinking on policies and investment, R&D, manufacturing and distribution, professional education and hospital applications.
It is estimated that more than 6,000 exhibitors and 150,000 professional visitors and leading academics from 140 countries and regions will visit Shanghai next May for the new event.
Besides its size, tHIS also has positioned itself as the platform to explore synergies emerging from the interactions between and within the Pharmaceutical and Medical sectors, which share a significant base of distributors and end users, as more and more companies begin to operate in a cross-sector capacity.
As China’s healthcare sector only accounts for around 5 percent of China’s GDP, there is a lot of potential for further investments and growth, especially when it is being fueled by favorable demographic trends and continuing urbanization in decades to come, according to show organizers.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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