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Deals worth $55bn inked at China trade fair: Officials
June 13, 2015, 1:03 pm

Photo taken on June 12, 2015 shows the opening ceremony of the 3rd China-South Asia Exposition in Kunming, capital of southwest China's Yunnan Province [Xinhua]

Photo taken on June 12, 2015 shows the opening ceremony of the 3rd China-South Asia Exposition in Kunming, capital of southwest China’s Yunnan Province [Xinhua]

Nearly 300 deals worth $55 billion were signed at an international trade fair in China, officials were quoted by state media on Saturday.

The annual trade fair in the southwestern Chinese city of Kunming is aimed at cementing its status as south Asia’s trade hub.

255 domestic investment projects worth 300 billion yuan ($49 billion) were signed, organizers told Chinese agency Xinhua.

Companies from United States, Japan, France, Italy, Thailand, Myanmar and Laos also signed trade and investment deals at the trade fair on Saturday.

44 foreign investment and trade deals, mostly in manufacturing, agriculture and energy, valued at $5.7 billion were inked.

China has been the world’s biggest exporter since 2009.

Senior Chinese and foreign leaders including Maldives President Abdulla Yameen, Laos Prime Minister Thongsing Thammavong, Indian Minister of State for External Affairs Vijay Kumar Singh, Vietnam Deputy Prime Minister Hoang Trung Hai, attended the opening ceremony of the trade fair.

Chinese Vice President Li Yuanchao held talks with the foreign leaders in Kunming on Friday.

The Kunming government had described the expo as “an important task handed to Kunming and Yunnan by the Communist Party and State Council”.

More than 20,000 businessmen and 3,179 enterprises from some 70 countries attended the 5-day trade fair.

 

TBP and Agencies