Mongolia-China expo seeks possibilities to bolster partnership
Projects worth CNY 41 billion were discussed at the expo
1 долоо хоног, 2 өдөр өмнө
The 3rd Mongolia-China Expo, a large-scale international exposition jointly launched by the governments of Mongolia and China, took place on September 6-10, 2019 at Hohhot City and Ulanqab City of Inner Mongolia Autonomous Region, allowing entrepreneurs to start and maintain their partnership. The theme of the expo was “Construct the China-Mongolia-Russia Economic Corridor, Promote Northeast Asia Regional Cooperation”.
During the expo, 15 projects of the Mongolian Government, 50 projects of private entities were presented to investors. The total cost of these projects is estimated at CNY 41 billion, according to the National Development Agency of Mongolia. Projects of food, agriculture, and light industry accounted for almost 50 percent of all projects.
The expo which takes place every two years aimed to leverage the geographical advantages and special industrial resources in Northeast Asia, promote business exchanges and cooperation, and to contribute to the Belt and Road Initiative. It has been expanding to a crucial spot where regional countries are able to cooperate. Also, delegates from Hong Kong and Macau as well as Russia, Japan, the Republic of Korea, and other countries have attended the expo, confirming its importance in the region.
As of the first half of 1990-2019, Chinese-invested enterprises account for half of the 14,000 registered foreign-invested entities in Mongolia. During the period, China’s direct investment reached USD 5.1 billion, accounting for 20.1 percent of total foreign investment.
This year marks the fifth anniversary of comprehensive strategic partnership, the 70th anniversary of diplomatic relations between Mongolia and China. Accordingly, both countries are committed to launching a mutually beneficial partnership as well as Mongolia intends to expand its trade in goods other than mineral commodities.