High-end manufacturing products have become the main driver of export growth in east China's Yangtze River Delta as industrial upgrading and technological development continually improve the region's foreign trade structure.
The latest data released by Shanghai Customs showed that in the first 10 months of 2024, the value of imports and exports to and from the Yangtze River Delta reached 13.21 trillion yuan (about 2 trillion U.S. dollars), rising 5.3 percent year on year and accounting for 36.7 percent of the national total.
The export value of automobiles surpassed 274 billion yuan (about 37.89 billion U.S. dollars), increasing by 5.4 percent year over year. The export value of integrated circuits stood at around 374 billion yuan (about 51.72 billion U.S. dollars), marking a 16-percent year-on-year growth. Over the first 10 months, the region exported about 165 billion yuan worth of vessels, growing by 74.6 percent compared with the same period last year, the data showed.
"The export value of high-end manufacturing products such as ships and integrated circuits reached double-digit growth, indicating the upgrading of industrial and technological levels in the Yangtze River Delta region, and the further optimization of regional foreign trade structure. The excellent performance of the region's high-end manufacturing industry and the fast growth of the private economy jointly promote the continuous export growth of the Yangtze River Delta," said Zheng Hao, deputy director of the statistical analysis division of Shanghai Customs.
In the first 10 months, the region's private enterprises imported and exported 7.14 trillion yuan (about 987 billion U.S. dollars) worth of goods, increasing by 8.2 percent year over year, according to the released data.
High-end manufacturing products become main export growth driver of Yangtze River Delta
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
