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Anhui's Imports Expected to Hit $125 Billion in Next 5 Years

source:www.cnanhui.org release date:2019/11/07 hits:8

More than 500 representatives from Fortune Global 500 companies, multinational firms, sister provinces and states, and business associations as well as participants in the 2nd China International Import Expo gathered at the Shanghai International Convention Center on Wednesday to seek cooperation with East China’s Anhui province.

The provincial government released import demand and provided opportunities for cooperation at the meeting.

"According to incomplete statistics, Anhui's import value is expected to reach US$125 billion in the next five years," said Zhang Jian, head of the Bureau of Commerce of Anhui Province.

By 2020, the import value of advanced technology and equipment will reach about US$8 billion, that of resources will stand at some US$7 billion, and imports from countries and regions involved in the Belt and Road initiative will be worth about US$4 billion, Zhang added.

“As its per capita disposable income increases, consumption structure improves, and shopping demand diversifies, Anhui boasts a huge market for imported consumer goods. US$500 million consumer goods are estimated to be imported in 2020.”

At the meeting, Anhui-based enterprises signed 45 import deals worth US$1.75 billion with partners from 25 countries and regions. The imports ranged from high-end mechanical equipment to electronic components, metal raw materials, food raw materials and daily necessities.

In addition, contracts for 15 projects with a total investment of 6.4 billion yuan were signed, covering fields like equipment manufacturing, bio-medicine, modern services, energy conservation and environmental protection, information technology, household appliances, and new materials.

Nearly 200 foreign guests from the United States, Canada, Britain, Russia, Belarus, the Czech Republic, Cuba, South Korea and Japan attended the gathering. (By Zheng Weiling)