Michelin will attend the annual China International Import Expo for four years in a row starting in 2020, a sign of the leading tire and mobility company's confidence in the Chinese economy.

Michelin signed a memorandum on Sunday with the CIIE's organizing committee to participate in the annual event from 2021 to 2023.

The company registered in January for this year's event in spite of the pandemic, said Kamran Vossoughi, president and CEO of Michelin Greater China.

He said the CIIE is a major move by China to further open its market and an important and exciting platform for international companies.

"For Michelin, we can demonstrate rich offerings beyond tires. Of course, we will find new business opportunities and potential business partners through the expo," Vossoughi said.

"In China, sustainability has become a common need of governments, businesses and individuals. We hope to provide more sustainable offers through our know-how in smart mobility and green mobility."

Michelin said the CIIE will also help the Chinese economy recover while restoring people's confidence. He said the company hopes to establish closer relations with the Chinese people and market and to play a bigger role in the country's economic development.

The epidemic has brought many changes and uncertainties to the market, but Michelin's business in China has proved resilient and recovered fast.

"We came out of this outbreak stronger than when we entered it," he said.

Vossoughi said since March, Michelin has stabilized its business and achieved good sales results, which has boosted its confidence in the future.

"With the further recovery of the Chinese auto market in the second half of 2020, Michelin's business will continue to develop at a fast pace," he said.

As the pandemic has been curbed in China, China's economic recovery is accelerating. Vossoughi said there are many forces behind this, of which supportive policies from the government are extremely significant.

Michelin has invested massively in China. Vossoughi said the Chinese market is growing fast, and Michelin will speed up its pace to capture the demand and growth.

"When it comes to confidence, actions speak louder than words," he said.

"Michelin launches new products to satisfy the needs of our Chinese customers with innovative and sustainable solutions, holds livestream events to interact with our business partners, and hires talented people and invests for future development," said Vossoughi.