Seizing challenges of import expo
Minhang District held 12 investment and trade promotion events during the recent China International Import Expo, playing a big part in the success of the event.
Expo racked up deals for intended purchases of goods and services totaling US$57.83 billion, according to Sun Chenghai, a deputy director of the event.
About 30 companies in Minhang held in-depth talks with foreign participants. In addition, more than 100 South Korean enterprises attended a conference held in the Caohejing High-Tech Industrial Park, which was the biggest event sponsored by the district.
Murray Powell, manager of Optimal Stormwater, said his company would launch a research and development center in China after attending the event.
“Minhang has prepared for the spillover effect after expo,” said Lin Yi, director of the Minhang Economic Commission.
Minhang also fielded a trading union comprised of 913 enterprises and 5,461 dealers covering a wide range of industries and promote deals inked during expo.
The union held centralized signings for partnerships with foreign companies that included Fiat Chrysler Asia Pacific Investment Co and Kao Corp Shanghai.
US-based warehouse wholesaler Costco will launch new membership-only shoppers’ club on Lianyou Road in Huacao Town next year. After all contracts are signed, an estimated 400 products will be imported.
Representatives from Spain’s Aragon region were on hand to sell red wine, olive oil, chocolate and Spanish ham. Apart from merchandise, the region is also seeking partnerships in tourism, automobile production, renewable resources and medical industries.
“In a report on the commercial environment of Minhang released by the United Nations, we ranked higher than the Shanghai average,” said Lin.
Minhang will focus on the Hongqiao Foreign Trading Center, the Hongqiao Imported Goods Exhibition Center, the Yangtze River Delta E-Commerce Center and the Caohejing Bonded Area Association to build platforms for import trading. The slogan is “one week at expo serves customers for a year.”
Customers can purchase import daily goods at discounted prices at the Hongqiao Import Goods Exhibition Center, from awarding-winning Austrian chocolate in 400 flavors to Japanese snacks. Most of the products were displayed at expo
The value of Minhang exports and imports reached 18.14 trillion yuan last year, ranking it third in the city. There are more than 7,300 registered foreign-invested companies in the district, or 6 percent of all companies. They contribute 66 percent of gross domestic product and create many job opportunities.