Boao Forum: Chinese commodities seek Mongolian market
A business delegation from China's Yiwu City, best known for its small commodities, is seeking market opportunities there. Wu Guoxiu has this story from Ulaanbaatar.
Bringing what they've been selling for years to the Boao Forum, these business owners want to find purchasers in Mongolia.
LIU PINGJUAN CHINESE KITCHENWARE BUSINESS OWNER "I hope to find a distributor in Mongolia and sell my utensil products here. After observing the shopping malls here, I think my products will make it to middle high-end routes."
YING LIHONG CHINESE HARDWARE BUSINESS OWNER "I'm checking out the business environment here. Our cups have been sold to Europe, America and the Middle East."
This delegation from Yiwu city in China is composed of government staff and nine business owners.
Their agenda ahead of the conference includes visiting markets. We spoke with the commerce chamber here for Chinese companies.
YANG XIAOQI, PRESIDENT CHINA GENERAL CHAMBER OF COMMERCE, MONGOLIA "Over 70 percent of daily products in Mongolian markets are from China. So Yiwu has an advantage. But the market capacity is not too big, so they need high-quality products and aim for middle-high end customers."
DUO JIA, VICE MAYOR YIWU CITY, CHINA "While finding new markets for our commodities here, we also look for more imports to Yiwu, as our country's trade policies are being adjusted. Yiwu as a small commodities hub, is aiming to buy and sell, from and to the world."
Bao'ao called for maintaining multilateralism and free trade at its Annual Conference earlier this year.
This time with Mongolia, it is committed to promoting free trade and multilateral cooperation as well.
WU GUOXIU ULAANBAATAR "These small commodities from China's Yiwu city may appear one day in Mongolian markets thanks to the Boao Forum. This conference in Ulaanbaatar will bring 300 business leaders from China and Mongolia to talk face to face and tap cooperation potential. Wu Guoxiu, CGTN, Ulaanbaatar, Mongolia."