The Ministry of Commerce of China File photo: VCG

The fifth China-Mongolia Expo is scheduled to be held in Hohhot, North China's Inner Mongolia Autonomous Region from August 25 to 29, bringing together nearly 6,000 domestic and international guests and businesses, officials announced on Wednesday.  

The expo has attracted the participation of not only long-standing friends but also new partners. Participants include Mongolia, Russia, countries in Northeast Asia, Belt and Road Initiative (BRI) partner countries such as those in Central Asia and Southeast Asia, and South American and African countries including Brazil, Uruguay, Kenya and Mozambique, gathering more than 1,500 domestic and international enterprises, Yang Jin, vice-chairman of the Inner Mongolia Autonomous Region, said at a press conference at the Chinese Ministry of Commerce (MOFCOM).  

The expo has become an important platform to strengthen exchanges and cooperation between China and Mongolia, promote the development of the China-Mongolia-Russia Economic Corridor, and enhance the alignment of high-quality BRI cooperation, Yang said.

This year's expo will highlight regional cooperation, openness, and diversity, striving to build a new platform for national opening-up toward the north, a new link for regional industrial and supply chain cooperation, and a new pivot for promoting regional cooperation in Northeast Asia, Vice Minister of Commerce Yan Dong said at the press conference on Wednesday.

China has long maintained its position as Mongolia's largest trading partner, largest source of imports, and largest export destination. Bilateral trade grew by 10.1 percent year-on-year to $18.62 billion in 2024, hitting a record high - with a growth rate 5 percentage points higher than China's overall foreign trade last year, according to the MOFCOM.

As neighbors, China and Mongolia are complementary in areas including minerals, infrastructure and agriculture, which means there is great cooperation potential, Yan said, pointing out efforts in three aspects to enhance China-Mongolia economic and trade cooperation - policy communication, smooth cooperation and people-to-people exchanges.

"We encourage more Chinese companies to conduct trade and investment cooperation in Mongolia, boost the improvement of the bilateral trade structure, expand investment and cooperation areas, and boost infrastructure connectivity, so as to provide a fair and predictable business environment for companies from both countries," Yang said.

Global Times