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With preparations underway for the first China International Import Expo in Shanghai in November, foreign producers of food and other agricultural products already are signing up for exhibition space for the 2019 expo as they look to tap the potential of the world"s largest food importer.
French yeast manufacturer Lesaffre was one of the early birds for the 2018 event, having signed up at the beginning of this year.
It also joined three other companies and industry associations from Germany, Japan and France on Thursday to book exhibition booths, about 3,000 square meters worth, for next year.
"We appreciate the Chinese government"s support of free trade for the well-being of consumers by widely opening the market," said Jean-Philippe Poulin, president of the company"s operations in China.
Among those represented are producers from the United States, despite ongoing China-US trade tension.
As soon as it received an invitation, the US Soybean Export Council confirmed its attendance at the expo this year by booking a 72-sq-m space, about eight times the size of the average exhibitor"s 9 sq m.
Zhao Liang, public affairs manager of the US Soybean Export Council Beijing representative office, said the organization will participate as planned.
Zhao said the escalating trade friction between the world"s two largest economies will have a negative impact on their business.
A study conducted by Purdue University found that if China were to impose a 25 percent tariff on US soybeans, its soybean imports from the US would fall by 65 percent, total US soy exports would drop by 37 percent and US soybean production would decline by 15 percent.
On Saturday, China said it would place retaliatory tariffs on soybeans and other US products if Washington proceeds with its plan to place tariffs on Chinese products on July 6.
The first import expo event will occupy more than 210,000 square meters of exhibition space.
More than 1,000 enterprises from nearly 100 countries and regions are expected to exhibit their products at the food and agricultural products area, which will take about 60,000 sq m, said Tang Guifa, president of the National Exhibition and Convention Center (Shanghai).