U.S. food and agricultural companies that participated in the China International Import Expo (CIIE) have exceeded their expectations, securing contracts worth millions of dollars, according to Eric Zheng, the president of the American Chamber of Commerce in Shanghai (AmCham Shanghai).
During the CIIE event held in Shanghai from November 5 to 10, participating enterprises signed lucrative contracts for commodities ranging from soybeans, sorghum, corn, and legumes to pet food, marking a resounding success for American businesses.
Eric Zheng emphasized the significance of this achievement, stating, “This has allowed U.S. exhibitors to deeply experience the enormous potential of the Chinese market.” He highlighted the lively atmosphere in the Food and Agricultural Pavilion throughout the expo, attracting attention from both attendees and media. U.S. exhibitors have expressed a strong commitment to further access the Chinese market upon their return home.
This marked the first time that the United States had a dedicated pavilion at the CIIE, a result of collaboration between AmCham Shanghai and the U.S. Department of Agriculture. The initiative brought together 17 collaborators, including U.S. state governments, industry associations, and businesses, to showcase American food and agricultural products.
Despite the global economy’s ongoing recovery, the CIIE remains a crucial platform for exhibitors from various countries to promote their products and brands in China, according to Zheng. He believes that the Chinese market still holds significant potential for further growth in its demand for American food and agricultural products.
“China is the largest export destination for U.S. agricultural products, with the total value reaching 42 billion dollars last year,” Zheng noted. He highlighted the challenges faced by many small- and medium-sized food and agricultural producers in the United States, who are eager to expand into the Chinese market but encounter difficulties in finding suitable distribution channels.
One example is Hang Tung Resources (USA) Co., Ltd., based in Glenview, Illinois, specializing in oilseeds and grain exports to China since 2014. The company, representing the U.S. federal government as part of a delegation organized by the U.S. Department of Agriculture, achieved remarkable success at the CIIE.
Sherman Shi, the company’s vice president, revealed that Hang Tung Resources secured business agreements totaling 500 million dollars during the expo, surpassing initial expectations. He emphasized the significance of the Chinese market, stating, “China is a market that we cannot overlook, both presently and in the future. As one of the largest countries in terms of population and with a thriving economy, the Chinese consumers’ demand for general agri-commodities is significant.”