The number of American companies takes business opportunities in China remains high. The trade tension between the two countries doesn’t whine their interest. The first evidence of increasing US companies’ interest in the China market is the number US companies as the participant of China’s expo. There are more U.S. companies to participate in this November’s China International Import Expo. The number is higher than last year the US’s participants.
Also read: How does G20 Affect China–US trade war?
Besides, American trade deficit goods with China increased to US 375.4 billion, according to US Census Bureau.
The U.S. and China have each slapped tariffs on billions of dollars’ worth of goods from the other. Their trade tensions that have lasted for more than a year. In addition, the Trump administration would like China to improve the business environment for foreign companies. To clarify, they want China to address complaints on issues such as forced technology transfer. Other than that, the Chinese government also lacks intellectual property protection.
Representatives from both countries are set to meet in Shanghai this Tuesday and Wednesday to discuss trade. As a result, many people project that US companies’ interest in China’s Imports will increase.
China International Export Expo
Last year China held its first International Export Expo. The expo aims to boost the country’s profile as a buyer of the world’s goods. Previously, China is only seen as a country that holds the role of the exporter. US companies in the last year expo gave a positive response, as reported by CNBC. Thus, last year’s expo performance lead to an uptick interest from the US-China Business Council (USCBC) members to participate in 2019 expo.
Also read: China Shapes Asia’s Fintech
Last year’s massive exhibition claimed to host more than 3,600 businesses from 172 countries. It gained a total $ 57.83 billion in purchase agreements signed. Moreover, more than 170 American companies participated. Consequently, it makes the US one of the top three countries represented. Thus, it shows US companies’ interest in the China market.
State-owned enterprises accounted for the bulk of professional buyers at last year’s expo. Meanwhile, regional governments’ enterprises follow. Both of them are expected to play a significant role in this year’s as well.
