China Expo Lands $58 Billion In Deals

The first ever China International Import Expo was held last week and reports suggest that around $58 billion of deals were agreed during its six day duration.

Thousands of foreign businesses joined together with Chinese buyers to attend the trade event, which was held at Shanghai’s National Exhibition Centre.

The expo was aimed at promoting trade with countries looking to export to China. With a population of 1.3 billion, China is a vast market and expect to import products and services worth more than ten trillion dollars over the next five years.

According to the China Daily, deals for high-tech equipment reached $16.4 billion, followed by food and agricultural at $12.6 billion, automotive industry at $12 billion, medical care at $5.7 billion, consumer electronics at $4.3 billion and retail at $3.3 billion.