China closed the seventh edition of its International Import Expo (CIIE) this Sunday, which saw a 2% year-on-year increase in the volume of “intentional agreements” signed.
The total amount of these agreements that express the intention to carry out a specific transaction reaches 80,010 million dollars (74,621 million euros), state broadcaster CCTV reported.
The organizers were counting on the participation in the event of 3,500 companies from 152 countriesregions and international organizations.
Likewise, the presence of 297 of the 500 largest companies in the world according to the list prepared by the American magazine Fortune, which is eight more than in the previous edition.
Spain was represented with a total of 67 exhibitorswith a special presence in the food and agricultural products pavilions (with stands from Borges or the Interporc pork association) and consumer goods (Zara, Isdin…).
According to the CIIE database, more than 160 participants from Latin American countrieswith Brazil (82) and Argentina (43) as the main protagonists, took part in the event.
“Every year, companies from Latin America and the Caribbean cross oceans to join this event at the CIIE“said Foreign Ministry spokesperson Mao Ning this week in a press conference in which she highlighted the variety of products from the region, such as high-mountain Chilean cherries.
Mao explained that products like “Honduran white shrimp, coffee, or honey and Nicaraguan seafood” have gained popularity among Chinese consumers.
Furthermore, he mentioned that the Chilean Fruit Exporters Association signed agreements with e-commerce platforms in China, which “facilitates the arrival of these products to Chinese consumers.”
The event was celebrated with the background of the country’s economic uncertainty Asia and also coinciding with an important meeting of national legislators, who announced this Friday that the plan to redeem the “hidden debt” of the country’s local and regional governments and thus clean up their accounting balances would amount to a total of 10 trillion yuan (1.4 billion dollars, 1.3 billion euros).
Thus, together with other previous packages of measures and various stimuli, Beijing aims to once again give impetus to an economic recovery so far less bright than predicted.
The CIIE was held for the first time in 2018 and since then it has maintained its annual presence in the eastern city of Shanghai, although it was hindered in the years of the pandemic by the Chinese ‘zero covid’ guideline, which made it extremely difficult for representatives of foreign companies to enter the country.
Although some companies see the CIIE as an opportunity to strengthen their presence in China and to generate contacts with local importers, which in some cases crystallize into business after a whileothers consider it a symbolic event and of a largely political nature.
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