Imports of basic commodities and high-tech products contribute to the expansion of the Chinese market, while creating new demand for advanced manufacturing products, globally sourced products and special agricultural products, according to the report. The report aims to assess the conditions and export potential for entry into the Chinese market from the point of view of trading partners.
An export initiative, which tried to sell chicken feet from the US to China, was cited as an example that products should be adapted to the requirements of the local market. The initiative stated that product size, processing chemicals and other details should meet the conditions of the Chinese market. The assessment of the initiative stated that having only one product is not sufficient; companies need to understand the needs of Chinese consumers and adapt their products accordingly.
China's imports rose 22.3% in the first three quarters compared to the same period last year, reaching 16.7 trillion yuan. The growth in imports outpaced the growth in exports by 5.9 percentage points. In September, monthly imports exceeded 2 trillion yuan for the first time. At the fair, 4,142 overseas businesses were reportedly carrying samples, contracts and localisation plans to Shanghai.
