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China's first import expo results in USD 57.83 billion deals

Press Trust of India  |  Beijing 

China's first international import expo which concluded in on Saturday resulted in deals worth USD 57.83 billion, official data said, with among the 172 countries which participated in the mega event in the Chinese business hub.

The five-day expo was held amid criticism that China, the world's biggest exporter of goods, imports far less from the rest of the world.

Deals for intended one-year purchases of goods and services worth a total of USD 57.83 billion were reached at the first International Import Expo (CIIE), which concluded in Shanghai, state-run agency said quoting official data.

It also came in the midst of a trade war with the US, which has clamped tariffs on USD 250 billion of Chinese imports. is demanding cut down the trade deficit of USD 375 billion.

too took part in the event by setting up a country pavilion highlighting its and agro products, pharmaceuticals, IT and IT-enabled services, (ITES) tourism and services sectors, to gain market access to

inaugurated the pavilion and held talks with Chinese officials to increase Indian exports to China to bridge the over USD 51 billion trade deficit.

Indian firm signed a USD 1 million export contract with Chinese company (China Tea) for export of Indian black tea to China.

A total of 172 countries, regions and international organisations, and more than 3,600 enterprises participated in the event, which attracted more than 400,000 domestic and overseas purchasers, Sun Chenghai, of the CIIE Bureau, told a conference in

Deals for high-end reached over USD 16.46 billion, followed by USD 12.68 billion of and agricultural products, USD 11.99 billion of automobiles, 5.76 billion dollars of medical equipment and health care products, USD 4.33 billion of and appliances, and USD 3.37 billion of apparel, accessories and consumer goods, Sun said, adding that the value of deals for services hit USD 3.24 billion.

Intended purchases with the Belt and Road Initiative (BRI) partner countries reached USD 4.72 billion, Sun said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, November 10 2018. 19:10 IST