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China offers opportunities for imports for US $ 130,000 million in expo

China will hold the Third International Import Expo in Shanghai from November 5 to 10, 2020, the Chinese government reported.

In total, 150 countries will participate in the event and it hopes to register purchases for 130,000 million dollars.

In the second edition of the Expo, transactions were recorded for a value of $ 71.1 billion, 23% more than in the first edition.

The event is broadcast in a context in which the Chinese economy registered a 6.8% year-on-year drop in the first quarter of 2020.

The historic decline in growth threatens the goal of the Chinese Communist Party (CCP) to double GDP by 2020.

Although key economic indicators suggest a tentative rebound in the second quarter of the year, the recovery will be fragile as the Covid-19 outbreak dulls economies around the world and weakens China’s external demand for exports.

Leading exporters and importers in world merchandise trade, 2019

Source: WTO.The Chinese ambassador to Mexico, Zhu Qingqiao, stressed that the Expo provides opportunities to face the global crisis of the new coronavirus.

Imports

In the previous editions, the exhibition area has two sections: that of goods trade and that of services trade.

The first of these includes exhibition areas for products such as high-end and intelligent equipment; consumer electronics and household appliances; clothing and accessories and consumer goods; automotive; food and agricultural products, and medical equipment and pharmaceutical and health products.

Furthermore, the services trade section comprises emerging technologies, outsourcing, creative design, culture, education and tourism.

With the world’s largest population, China is the second largest economy, as well as the second largest importer and consumer in the world. Today, China has entered a new stage of development in which the scale of consumption continues to increase, indicating a huge room for growth in consumption and import.

China’s imports from Mexico totaled $ 7,136 million in 2019, which was 3.9% less than the previous year.

Finally, global imports of products from China totaled $ 2.1 trillion last year, a 3 percent year-over-year drop,

Of all world merchandise imports, China’s imports accounted for 10.8% in 2019, according to WTO data.

 

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