GLOBALink | 5th China-Arab States Expo opens in NW China

Source: Xinhua| 2021-08-19 21:28:11|Editor: huaxia

The fifth China-Arab States Expo opened Thursday in Yinchuan, capital of northwest China's Ningxia Hui Autonomous Region.

The four-day event will feature trade fairs and forums on digital economy, clean energy, water resource, modern agriculture, green food, cross-border e-commerce and tourism cooperation.

This year's event is held both online and offline for the first time in history due to COVID-19 prevention and control, with the online event being the main focus. More than 1,000 domestic and overseas enterprises have registered as exhibitors for offline and virtual events at the expo.

China, now the Arab states' largest trading partner, has the confidence to further expand cooperation with the countries in digital economy, new energy, artificial intelligence (AI) and other emerging fields, said Chinese Vice Commerce Minister Qian Keming via videolink at the opening ceremony.

According to statistics of the ministry, China-Arab trade volume reached 239.4 billion U.S. dollars in 2020, during which China imported 250 million tonnes of crude oil from Arab states, or half of the country's total crude oil imports last year.

Arab states' imports from China reached 122.9 billion U.S. dollars last year, up by 2.1 percent year on year, Qian said.

Sponsored by the Ministry of Commerce, China Council for the Promotion of International Trade, and the regional government of Ningxia, the biennial expo has attracted more than 5,000 enterprises from around 110 countries since its inauguration in 2013, with about 940 cooperative projects signed.

China-Arab economic and trade cooperation has gained steam in recent years. A total of 287 deals worth about 185.42 billion yuan (26 billion U.S. dollars) was signed at the fourth China-Arab States Expo in 2019.

Produced by Xinhua Global Service

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