The third Global Digital Trade Expo will be held in Hangzhou, capital city of east China's Zhejiang Province from September 25 to 29, said officials at a press conference in Beijing on Wednesday.
Tang Wenhong, China's Assistant Minister of Commerce, said that the ministry focuses on enhancing openness in expanding international cooperation and regards the Digital Trade Expo as an important platform to showcase high-level openness.
"In terms of exhibitions, leading enterprises from 32 countries and regions participated in the expo, and the number and floor space of international enterprises accounted for more than 20 percent. In addition to the national pavilions of the guest countries Kazakhstan and Thailand, we will also set up an International Friendship City Pavilion and Overseas Industry Pavilion for the first time. Cities such as Boston in the United States will organize enterprises to participate in the exhibition," Tang said.
"In terms of premiere shows, about a quarter of the more than 400 new products and technologies come from abroad, a much higher proportion than the previous session. For trade consultation and matchmaking, a digital free trade zone industry matchmaking conference will continue to be held during the event. And for the first time, we will hold activities such as the Investment in China-Development Zone Dialogue with Fortune 500. The number of international merchants attending the expo shows s three-fold rise over the previous session," he said.
Focusing on the digital trade segment, the third Global Digital Trade Expo will set up one comprehensive exhibition area and eight special digital industry exhibition areas, including Silk Road e-commerce, data and finance, artificial intelligence, and smart cities, to fully showcase new technologies and products in the field of digital trade.
The expo will set up a future industry zone for the first time, focusing on displaying cutting-edge technologies in fields such as intelligent robots and low-altitude economy.
In the future industry zone, digital humans and naked-eye 3D technologies will be used to enhance on-site interaction with visitors, and a digital human debate competition and an AI electronic music composition competition will be held for the first time.
The expo will make a "digital portrait" for each exhibitor to promote accurate matching of supply and demand.
Third Global Digital Trade Expo to kick off in Zhejiang
A 25 percent import tariff on all foreign-built vehicles entering the United States has raised serious concerns for manufacturers in South Africa.
Automotive giants like Mercedes and BMW have long used South Africa as a base for global exports -- but those plans may be shifting into reverse gear after the U.S. announced the punitive measures.
"If you take, for example, BMW, 97 percent of the X3 that we are producing in Rosslyn is exported out of the country. We only sell 3 percent in South Africa, and there's a huge number of those vehicles that also go into the U.S. So there are companies in South Africa that are purely here not because they are selling vehicles in South Africa; they are here to produce vehicles for the global market, and it's important for them to remain globally competitive," said Mike Mabasa, CEO of the National Association of Automobile Manufacturers of South Africa.
U.S. automaker Ford, which has deep roots in South Africa, is also in the crosshairs.
The company recently invested over 300 million U.S. dollars to upgrade its Silverton plant in Pretoria, South Africa, for the production of the world's only plug-in hybrid Ranger, which has just entered production but could face delays or restrictions.
"If an American citizen wants to buy specifically a Ford Ranger that is a plug-in hybrid, they can only place an order in South Africa, nowhere else in the world. So, that means, obviously, the capacity of Ford to be able to produce those vehicles in big volumes is going to be constrained, because Americans are going be looking at another Ford that is produced in another country, or even in the United States," said Mabasa.
South Africa has long enjoyed duty-free automotive exports to the U.S. under the African Growth and Opportunity Act, but that relationship now hangs in the balance.
A sharp shift in U.S. foreign policy threatens to derail an industry that employs thousands and contributes around 5 percent to the country's economy.
"We produce less than 1 percent of global automotive vehicles, so to say. So, in reality, the impact on us is likely to be more disproportionate than those of our peers that produce at the same level. And the risk is actually created -- a concentration risk -- in countries that have greater capacity and are building more; in those countries will be able to absorb some of this," said Parks Tau, South Africa's minister of trade and industry.
Amid growing concerns about overreliance on the U.S. market, Amith Singh, national manager for manufacturing at Nedbank Commercial Bank, emphasized the importance of tapping into regional trade opportunities.
"I think we need to make better use of some of our local agreements, our African continental agreements. How do we leverage that? How do we partner with the government and private sector to start benefiting the countries and the economies aside from the United States? So, those could be the catalyst to drive our localization projects; it could be what we need to drive the African economy as opposed to being completely reliant on the States (United States)," he said.
South Africa is for now standing firm in its decision not to retaliate against steep U.S. import tariffs, set to take effect in just a few days.
Officials in Pretoria acknowledge the challenges posed by the current U.S. administration but are pursuing a diplomatic approach in hopes of maintaining stable relations and preserving the African Growth and Opportunity Act.
US tariffs rock South Africa’s auto industry
