With customs officials from Asia-Pacific Economic Cooperation economies meeting in Dalian, Liaoning province, to advance trade facilitation across the region, trade experts and exporters said the talks will further boost China's trade with other APEC economies, underpinned by strong economic complementarity.
They said China's industrial upgrading and growing supply of high-tech and green products are helping developing APEC economies advance industrialization, as expanded trade and closer supply chain integration create new opportunities for regional economic cooperation.
Ahead of the meeting in Dalian, which starts on Wednesday, the General Administration of Customs said in a statement on Monday that it will work with other APEC economies to enhance regional trade security and facilitation, align customs rules and standards, and reduce institutional trade costs.
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Ji Wenhua, a professor at the Academy of China Open Economy Studies — which is part of the University of International Business and Economics in Beijing — said that against the backdrop of a sluggish global economic recovery and rising geopolitical tensions, APEC has become an increasingly important platform for deeper economic integration across the region.
Zhang Yun, a professor at the School of International Studies at Nanjing University in Jiangsu province, said China's industrial upgrading and companies' growing global presence are creating new opportunities for developing APEC economies by bringing investment, advanced technologies and production capacity to local markets, strengthening their industrial capabilities and facilitating their integration into regional value chains.
Gu Yanping, customs affairs director at Zhejiang Sunny Optical Intelligence Technology Co Ltd — a manufacturer of optical imaging products based in Ningbo, Zhejiang province — said the company's Vietnam plant began operations in October, assembling China-sourced camera modules, vision modules and lens components into vision systems for smart robots, which are then sold globally.
"It has become a key overseas innovation and production base for the company, while also contributing to local employment and industrial development," said Gu.
Imports and exports with other APEC economies through Ningbo ports reached 747.96 billion yuan ($110.91 billion) in the first seven months, up 9.9 percent year-on-year, said Ningbo Customs.
Fujian Tide Power Technology Co Ltd, a power generation equipment manufacturer in Fuzhou, Fujian province, shipped 227 million yuan worth of products to other APEC markets between January and July, up 9.89 percent year-on-year, said Fuzhou Customs. Its exports included lighting towers, energy storage systems and gas and diesel generators, with diesel generator sets seeing particularly strong sales.
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Cai Jinjin, the company's director of international sales, said demand for diesel generators remains strong across many APEC markets, particularly in developing economies where infrastructure construction and industrial expansion are boosting the need for reliable backup power.
China is hosting the third APEC Senior Officials' Meeting in Dalian from Monday through Aug 28, said the Ministry of Foreign Affairs.
More than 2,300 representatives from APEC member economies and regional and international organizations will attend the meeting. The event will cover a wide range of fields, including trade, customs, transportation, food, science and technology, energy and health.
More broadly, Northeast China's two-way trade with other APEC economies reached 493 billion yuan during the January-July period, rising 8.1 percent year-on-year, said Shenyang Customs.
Contact the writers at zhongnan@chinadaily.com.cn
