California companies encouraged to export more to China
California companies, especially small and mediumsized enterprises, are being encouraged to expand their exports to China, the world’s second-largest consumer market, and to take advantage of the opportunity provided by China’s first import expo in Shanghai to do just that.
“It’s a wonderful opportunity for businesses in the Los Angeles area — actually businesses all over the United States — to sell their products and services to the Chinese people,” said Gary Toebben, president and CEO of the Los Angeles Area Chamber of Commerce.
The chamber and the China International Import Expo Bureau co-hosted a promotional event in Los Angeles on Friday highlighting the business opportunities available to California companies.
Toebben said China is California’s largest trading partner, and their commerce accounts for one-third of the trade volume between China and the US.
The expo, slated for Nov 5-10 in Shanghai, is expected to attract 150,000 professional purchasers from around the world. So far, more than 60 countries and companies from more than 100 countries have confirmed they will attend the expo, according to the expo bureau.
“It’s the world’s first expo that is solely focused on imports at a national level,” said Xiadiya Abulahaiti, deputy director-general of the department of American and Oceanian Affairs at China’s Ministry of Commerce, at the California promotion.
“We welcome products with advantages, special characteristics and competitiveness to enter the vast market of China,” she said.
China recorded $4.1 trillion in imports and exports in 2017. The imports alone are expected to reach $10 trillion in five years, according to the Chinese Ministry of Commerce.
She said that China sees California as an important partner in many areas.
“China and California have established the China-California Joint Working Group to bolster trade and investment ties. California has always been on the front line of promoting bilateral trade,” she said. Zhang Ping, Chinese consul general in Los Angeles
The expo presents opportunities — for small- and medium-sized companies in particular — as resources of the entire country will be available in a single location, said Brian Peck, chairman of the Los Angeles Regional Export Council.
During the promotional event, a contract was signed under which the council will work as the official representative of the expo bureau to invite California companies to attend.
Peck said the council will lead a delegation of California companies in the high-tech, food and agriculture sectors to the expo.
A letter of intent was also signed between the expo bureau and Align Aerospace LLC. The company will help California companies reserve booths at the expo.
“The bilateral trade and two-way investment have not only helped China’s development, but also brought tangible benefits to the American people. The inexpensive quality products from China help American families bring down their living costs,” said Zhang Ping, Chinese consul general in Los Angeles.
“China pays great attention to the trade imbalance between China and the US and has made great efforts to address this issue,” Zhang said.
The expo, he said, represents China’s sincere desire to open its market to the world and promote more balanced development of China’s external trade, and it shows China’s commitment in undertaking the responsibility of pushing forward global economic growth.
The bilateral trade and two-way investment have not only helped China’s development but also brought tangible benefits to the American people.”