Nov. 9 – China’s imports surged 26.3 percent year on year in October, while exports rose 20.1 percent, with the pace of growth both beating expectations, data showed Thursday. The increases also accelerated from the 17.4-percent growth for imports seen in September and a rise of 17 percent for exports.
Trade surplus stood at 233.63 billion yuan (US$33.76 billion) last month, expanding from 213.23 billion yuan in September, according to data released by the General Administration of Customs. For the first 10 months of the year, China’s foreign trade totaled 25.05 trillion yuan, up 11.3 percent from the same period last year.
Foreign trade with the European Union, the country’s biggest trade partner, climbed 8.4 percent year on year to 3.68 trillion yuan for January-October, GAC data showed. In the same period, trade with the United States, China’s second-biggest trade partner, rose 7.4 percent to 3.44 trillion yuan, followed by the ASEAN, its third-largest trade partner, at 3.18 trillion yuan or 13.7 percent. In U.S. dollar-denominated terms, China’s exports increased 15.6 percent year on year in October, while imports were up 21.4 percent.
Massive Opportunities Import to China
One of the highlights of the ongoing China International Import Expo is the Country Pavilion for Trade and Investment, where 82 countries and three international organizations are showcasing their latest products. There are 12 “Guest of Honor” countries at this first CIIE. They are Brazil, Canada, Egypt, Germany, Hungary, Indonesia, Mexico, Pakistan, Russia, South Africa, Vietnam and the United Kingdom. Having such a status means they get their own national pavilions. For instance, at the pavilion for Brazil, a country that is eager to export its food and agricultural harvest to China, visitors can find local products, such as coffee beans. Visitors also can enjoy passionate dancing here.
The CIIE has also been warmly received by the German business community with this Guest of Honor sending 170 companies to the expo. These companies come mainly from sectors such as tech, manufacturing, automobiles, chemicals, machinery equipment, as well as food and beverages. There are around 60 British companies participating in the China International Import Expo. The UK’s 350-square-meter national pavilion is focused on creativity and innovation, and one of the highlights here is the virtual reality experience. For example, audiences can enjoy “live orchestra performances” via digital and interactive devices provided by Inition, a British creative innovation company. Football fans who follow the English Premier League will also find in this pavilion the only replica of the Barclays Premiership Trophy.
More Countries Seek to Capitalize on Chinese Consumer Trends
Coffee consumption in China is growing rapidly , China can become one of the biggest importers within the next five years, according to main coffee producers and exporters. It’s time for importing coffee to China, market opportunities in China clearly show on the China International Import Expo 2018 in Shanghai. Traditionally a tea-drinking nation, China’s appetite for coffee has been growing in recent years. In Shanghai, coffee chain Starbucks can be found every few hundred meters in downtown areas. Specialty coffee shops have also been sprouting around the city. Although the average Chinese coffee drinker consumes just three cups per year compared to 363 cups in the US, total consumption has grown by an average 16 percent annually over the past decade, eight times the average growth of global coffee consumption, according to the International Coffee Organization.
Many countries are well-positioned to capitalize on food and beverage trends in China through the China International Import Expo in Shanghai, for those food and beverages producers, traders there are massive opportunities import to China. DCCC is the right platform to increase your food and beverages products exports to China, especially, DCCC support their entry into the Chinese market by providing reliable List of Chinese importers, distributors for consumers goods, email to: email@example.com for details.