China import expo sees fewer exhibitors

The China International Import Expo (CIIE) drew fewer exhibitors and visitors this year amid restrictions on international travel. The import fair, which runs from November 5-10 in Shanghai, was initiated by Chinese President Xi Jinping.

Shanghai:China kicked off its top international trade expo on Thursday with COVID-19 pandemic still on the rise elsewhere in the world.

As an effort to deflect complaints about Chinese restrictions on foreign access, the expo highlights the country as a growing market for imported goods.

The organizer said more than 2,600 overseas exhibitors have taken part in this years CIIE, including hundreds of U.S. companies.

Tyson, the U.S. food giant, brought chicken, beef and pork products to the expo, with the hope of expanding its market share in China.

Zhou Quan, Tyson's Public Relations Manager, told the Associated Press that this year the company saw a 100 per cent sales increase in China, as Chinese families spend more on high-quality protein products during the pandemic.

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"We feel quite encouraged by the government, that we feel like the Chinese government quite welcome us, or welcome all the international enterprises to bring in their high-quality products to China," said Zhou.

U.S.-Chinese relations have plunged to their lowest level in decades amid an array of conflicts over the coronavirus pandemic, technology, trade, security and espionage, but U.S. exhibitors voiced their optimism over the Chinese market.

Zhang Xiaoping, Director of Greater China of the US Soybean Export Council, said the US would export more than 30 million metric tons of soybeans to China by the end of this year, a 50 per cent increase compared to last year.

President Donald Trump shocked China's leaders by hiking tariffs on Chinese exports in 2018 over complaints Beijing stole or pressured U.S. companies to hand over technology.

The two sides in January reached a phase one trade deal, in which China promised to significantly increase U.S. agricultural product imports.

"The Chinese industries are working so hard to fully implement the phase one deal in terms of the agricultural products," Zhang said.

Qualcomm, the US tech giant, displayed 5G products with its chips at the fair.

Richard Li, Qualcomm China's technical head, said 5G commercialization can not be successful without joint effort from all players in the supply chain, including the Chinese telecom operators and OEM companies.

"For the 5G commercialization, you see it's not a phenomenon in China only, but also happening all over the world," said Li. "We can see over 100 companies in like 40 countries commercialize the 5G."

Last week, China's ruling Communist Party published its economic blueprint for the next five years.

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The plan emphasizes the development of semiconductors and other technology at a time when Washington is cutting off access to U.S. technology.

The government wants the Chinese industry to rely on domestic suppliers and consumers.

AP