China's imports tipped to exceed $4 trillion

2019-Mar-1       Source: Chinadaily.com.cn

The value of goods and services imported into China annually is expected to exceed $4 trillion in the next 15 years, according to an official of the China International Import Expo Bureau.

The value of goods and services imported into China annually is expected to exceed $4 trillion in the next 15 years, according to an official of the China International Import Expo Bureau.

Sun Chenghai - the bureau's deputy director-general - made the forecast at a meeting on Thursday to promote the 2019 China International Import Expo to be held in Shanghai in November.

The meeting was attended by nearly 200 representatives from Hong Kong's chambers of commerce, as well as industrial and commercial enterprises.

Hong Kong enterprises recorded a turnover of more than $1.7 billion at the first import expo, making the special administrative region the largest contributing source of overseas traders at the event.

More than 400,000 buyers attended the first import expo held at the end of last year, participating in nearly 370 business dialogues, new product releases, industry forums and policy interpretations.

Hong Kong should make good use of the expo - the best platform that's open to the rest of the world - and deepen its integration with the mainland through the Guangdong-Hong Kong-Macao Greater Bay Area, said Liu Yajun of the Commercial Office, Economic Affairs Department of the Liaison Office of the Central People's Government in the Hong Kong SAR.

"The mainland has always been open and supportive of free trade and a multilateral trade environment, and the import expo initiated by the mainland has been a vital opportunity for Hong Kong - a contributor to and beneficiary of the platform at the same time," said Bernard Chan Pak-li, under secretary for commerce and economic development of the SAR government.

He said Hong Kong, with its unique advantages under "one country, two systems", will continue to collaborate with the mainland in the Belt and Road Initiative, as well as the Bay Area.

The China International Import Expo, organized by the China International Import Expo Bureau and the National Exhibition and Convention Center (Shanghai), is jointly sponsored by the Ministry of Commerce and the Shanghai municipal government.

As the first exhibition of its kind, it is supported by international organizations, including the World Trade Organization, the United Nations Conference on Trade and Development and the United Nations Industrial Development Organization.

Editor: Monica Liu

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