China expects more US companies to join Facebook, Microsoft and Boeing at import expo, despite trade war

Chinese President Xi Jinping confirmed as opening keynote speaker at massive trade event to be held in Shanghai from November 5 to 10

Bilateral trade between the US and China has decreased significantly in past year, but Beijing says it has not stopped American companies from attending

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Chinese President Xi Jinping will be the keynote speaker at this year’s China International Import Expo, for the second time in a row. Photo: Xinhua

Published: 10:00pm, 29 Oct 2019Updated: 10:16am, 30 Oct 2019

Despite the ongoing trade war with the United States, there will be more American companies at next week’s second annual China International Import Expo than there was at last year’s event, China’s Ministry of Commerce said on Tuesday.

Bilateral trade between the world’s two largest economies has nosedived in the 16 months since the tariff battle began in July 2018, with many speculating that economic decoupling is inevitable.

However, Ren Hongbin, China’s assistant minister of commerce, confirmed that 192 US companies have signed up for the state-run event for foreign firms hoping to sell to China’s domestic market, up from 174 last year.

Ren said that other nations are sending more delegates than the US, but that the American exhibition area will be the biggest, “meaning the average US exhibitor will occupy more space”.

Many US Fortune 500 multinationals will come with their senior executives, showing that the fair is very attractive to US firms

Ren Hongbin, China’s assistant minister of commerce

“Many US Fortune 500 multinationals will come with their senior executives, showing that the fair is very attractive to US firms,” he added, without disclosing how many exhibitors would be present from other countries.

Among the US companies there will be social media giant Facebook, aircraft maker Boeing, technology behemoth Microsoft, and bathroom fixture manufacturer Kohler, according to the organisers.