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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
EconomyChina Economy

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
China International Import Expo
Orange Wang
Sidney Leng
Orange WangandSidney Leng
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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.
The expo will take place in Shanghai from November 5 to November 10, before Chinese President Xi Jinping and US counterpart Donald Trump are expected to sign a “phase one” trade deal under which China would agree to buy more US farm products in exchange for the US postponing planned tariff increases.

The leaders are tentatively scheduled to meet on November 17, after the Asia-Pacific Economic Cooperation summit in Santiago, Chile.

At last year’s inaugural expo, Chinese firms were reported to have signed import deals worth more than US$57.8 billion, according to Chinese government figures. However, many of those deals had been agreed in advance, with their announcements delayed to drive up publicity for the expo.

Beijing has not set targets for the number of or the value of deals signed during this year’s event.

“This will depend on the demands of companies and the market; we only provide a platform and services. We’d better let enterprises decide [on the value of their deals]; it is better to leave some suspense,” Ren added.

The ministry also confirmed a South China Morning Post report from last week that Xi will attend the expo for the second year in a row and deliver the opening keynote speech on November 5.

Ren said that the leaders of France, Greece, Jamaica and Serbia have also confirmed that they will attend the event.

This article appeared in the South China Morning Post print edition as: Number of u.s. firms at expo rises
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