At the trade promotion conference organized by the Ministry of Industry and Trade on July 2, Vietnam Trade Counselor in China Nong Duc Lai shared information about the Chinese market.

He believes that there are great opportunities for businesses to promote the export of agricultural, forestry and fishery products in the remaining period of 2024.

China is the largest export market for Vietnamese durian. Photo: TN

According to Nong Duc Lai, the Chinese economy in the first months of this year had stable growth, services and tourism recovered strongly after the Covid-19 pandemic, pushing consumer demand to increase.

Chinese manufacturing is currently moving towards high quality and green transformation. In particular, the most mentioned keyword in China is building "new production forces", that is, promoting the application of technology to improve productivity, and quality of products and goods.

Besides, China's e-commerce has developed strongly in recent years. It is being invested in the new trend of cross-border e-commerce.

Analyzing the industry, Nong Duc Lai said that processed products and foods are a potential industry in China, which will create many opportunities for Vietnamese businesses.

"Specifically, for current seafood products, businesses should not only export fresh products but should invest in producing processed products to bring into this market," Lai said.

According to Chinese customs data, import-export trade between Vietnam and China in the first five months of the year grew by over 20%. Vietnam's exports to the Chinese market have a high growth rate.

Agricultural products are the products with the most demand in China. Every year, this country spends US$230 billion to import agricultural products, and in the first five months of this year alone, it imported nearly US$100 billion.

"In the group of agricultural products, there are many products that China imports over US$20 billion every year, such as fruit, seafood, and rice. These are products that Vietnam has strengths in. Therefore, businesses need to take advantage and maximize this potential market," Lai said.

Photo: tapchicongthuong.vn

He also said that, for agricultural and forestry products, from now until the end of the year, exports are expected to grow strongly.

In the last six months of the year, China has many long holidays. During holidays, the demand for agricultural products increases. Therefore, Vietnamese businesses should take advantage of this opportunity to boost exports.

Each Chinese province is a market

Vietnam Trade Counselor in China Nong Duc Lai said that to effectively utilize the Chinese market, businesses need to remember that this is a large market, each province and locality is its own market.

China has a diverse culinary culture, each locality has different consumer needs, and different products.

"For example, in Guangdong province, this market has a huge demand for seafood products while Shandong province needs rubber. Businesses need to learn how to utilize this effectively," Lai said.

He proposed that the Ministry of Industry and Trade strengthen the establishment of relationships with Chinese localities, take advantge of each market, for each specific product.

Deputy Minister of Industry and Trade Nguyen Hoang Long said that China is a big market. Senior leaders of Vietnam and China both support promoting trade and economic development.