Surging CIIE attendance shows US companies' wish to take root in China

By Xie Jun Source:Global Times Published: 2019/10/30 20:58:50

A gardener waters lawns decorated with flowers outside of a China International Import Expo pavilion in Shanghai on Wednesday. Photo: Yang Hui/GT


US exhibitors to attend the second China International Import Expo (CIIE) surged in terms of numbers and exhibition areas, showing that US companies are willing to deepen cooperation with China and invest more in the country, a Chinese official said Wednesday. 

"We should ask those US exhibitors whether they are willing to withdraw from China and agree to the so-called decoupling of China and the US," Geng Shuang, a spokesperson of the Chinese Foreign Ministry, said at a press conference. 

He made the comment when asked by a reporter to comment on the rising foreign direct investment (FDI) in China, while FDI in the US is slumping.

FDI that flowed into the US slumped 25 percent year-on-year in the first six months of this year, while FDI in China rose 5 percent during the same period, according to data released by the Organization for Economic Co-operation and Development. 

"The number again shows who is opening up day by day and who is becoming increasingly conservative," Geng said.  

A total of 192 US companies will attend the second CIIE from November 5 to 10, up by 18 percent year-on-year. US companies will occupy an exhibition area of 47,500 square meters in total, the largest among all countries and regions. 

Many US industry giants that harvested contracts during last year's CIIE continue to present their products during the second CIIE, on a larger scale. 

US food industry giant Mars, for example, not only increased its investment of 1 billion yuan ($142 million) in China shortly after the first CIIE, but has increased the exhibition area by 30 percent for the second CIIE to display multiple products from pet food to milk powder. 

Another US food giant, Cargill, will also display a range of food products from beef to edible oil at the second CIIE, according to a statement the company sent to the Global Times. Cargill signed contracts of more than $2.4 billion covering grain, beef, cotton and iron ire last year. 

Some US soybean and edible oil sellers will also attend the second CIIE, Ying Jian, who is in charge of CIIE's food exhibition hall, told the Global Times on Wednesday. But he didn't disclose the names or the exact number of companies involved.

China's purchases of US soybeans have ticked up recently, and the country plans to exempt US soybeans from additional tariffs, which has been taken by the market as a sign of easing in the long China-US trade dispute.



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