CNEA Expo set to enhance regional trade

2019-7-24 9:29:17

The 12th China Northeast Asia Expo to be held in August will give a powerful impetus to the country's northeastern region and bolster its trade and economic relations with neighboring countries, the Ministry of Commerce said on Monday. The expo will be held in Changchun, Jilin province, from Aug 23 to 27.

In 2018, China's trade with five countries in the region totaled about $758.57 billion, accounting for nearly a quarter of China's total foreign trade.

Ministry data showed the investment in Northeast Asian countries has also seen steady growth. From January to May, China has invested $210 million in Russia, up 20.1 percent year-on-year, $88.68 million in South Korea, an increase of 73.1 percent year-on-year, and $68.2 million in Mongolia, 67.1 percent higher compared to the same period last year.

Officials said the expo will feature the 5G industry in the northeastern region as a number of leading companies such as Huawei and Zhongxing Telecommunication Equipment Corporation among others will be showcasing their cutting-edge equipment during the expo.

As the world economy still faces uncertainties and challenges from unilateral actions by other nations, weak investment and unstable financial markets, countries in Northeast Asia are having difficulties boosting exports and creating jobs even though many have mature manufacturing systems and strong domestic purchasing power to mitigate risks.

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