02:42
Canada’s total exports to China reached 15 percent year-on-year in 2017, a higher growth rate than any other countries. And now Canada may have more opportunities due to boosting of China's imports.
With China rolling out a series of policies to boost its imports, Canadian chilled boneless beef was allowed to enter Chinese market for the first time.
"We are certainly quite excited. These developments allow us to build bridges not only with Chinese government but likewise with Chinese consumers. In 2017, China imported over 700,000 metric tons of beef, valued over 31 billion dollars. This is a growth of 16 percent versus previous year. To the outer years, we expect the double-digit growth to China to continue,” said Francis Andres, president of Canada Beef International Institute.
With China rolling out a series of policies to boost its imports, Canadian chilled boneless beef was allowed to enter Chinese market for the first time. /VCG Photo
With China rolling out a series of policies to boost its imports, Canadian chilled boneless beef was allowed to enter Chinese market for the first time. /VCG Photo
With China's further plans to welcome more foreign products, Canadian officials are confident that the trade tie between the two countries will be even closer in the future.
"Of course, Canada and China are good friends. You are the second largest trading partner we have. Both countries have indicated we will double the trade by 2025. All of these are good news to Canada and good news to China because trade makes money, trade creates economy," said Lawrence Macaulay, Canadian minister of agriculture and agri-food.
Meanwhile, the faster import growth is expected with the opening of China International Import Expo in Shanghai this November while 1100 companies from 101 countries and regions have already signed up to participate. Over the next 15 years, China is expected to import foreign products worth 24 trillion US dollars.