He Yadong: Friends from the press, good afternoon. Welcome to the regular press conference of the Ministry of Commerce. I have no information to brief you today. Now I would like to take your questions.

Nandu: During his recent visit to Vietnam, Premier Li Qiang attended a seminar with Chinese and Vietnamese business representatives. Could you brief us on trade between China and Vietnam and priorities in the future?

He Yadong: On October 13, Chinese Premier Li Qiang and Vietnamese Prime Minister Pham Minh Chinh jointly attended a seminar with Chinese and Vietnamese business representatives in Hanoi. Chinese and Vietnamese business representatives from finance, digital economy, green energy, transportation infrastructure and other fields attended the meeting. The two prime ministers encouraged entrepreneurs to embrace the general trend, seize opportunities and further strengthen cooperation, so as to achieve greater development of their own enterprises and contribute to the common development of China and Vietnam.

China is Vietnam's largest trading partner, while Vietnam is China's largest trading partner in ASEAN. Bilateral trade exceeded 200 billion U.S. dollars for three consecutive years, reaching 190.38 billion U.S. dollars in the first nine months of 2024, up 17.6 percent year on year. Vietnam is an important overseas investment destination for China. In the first eight months of 2024, direct investment by Chinese enterprises in Vietnam reached 1.97 billion U.S. dollars, maintaining rapid growth.

Going forward, MOFCOM will earnestly implement the series of important consensus reached by the leaders of CPC and CPV on redoubling efforts to build the strategic China-Vietnam community of shared future, and elevate bilateral economic and trade cooperation to bring more benefits to the two peoples.

First, we will make the pie of economic and trade cooperation bigger, actively study and pilot the construction of cross-border economic cooperation zones, and expand cooperation in emerging fields such as information technology, new energy and the digital economy.

Second, we will step up bilateral trade and help companies in making full use of such platforms as the China International Import Expo, the Canton Fair and the China-ASEAN Expo to expand trade in quality agricultural and aquatic products and manufactured industrial products.

Third, we will deepen supply chain cooperation, support greater cooperation between parks and localities, jointly promote industrial integration, deepen the integration of supply and demand, and build a stable and smooth cross-border industrial chain and supply chain.

Fourth, we will deepen regional economic integration and encourage businesses to make full use of bilateral and multilateral economic and trade cooperation agreements and policy dividends, such as the Regional Comprehensive Economic Partnership and China-ASEAN FTA 3.0, so as to make greater contribution to regional development and prosperity. Thank you.

Economic Daily: The Canton Fair is taking place in Guangzhou. How is the effect? What are the new highlights?

He Yadong: As the first Canton Fair held after the third plenary session of the 20th CPC Central Committee, the 136th Canton Fair is of great significance. We have sticked to reforms and taken a market-orientated, turnover-centered and service-underpinned approach, to continuously innovate and improve the Canton Fair. There are four main characteristics this time:

First, there are more businesses and products representing new quality productive forces. Among the exhibitors in the first phase of this year’s Canton Fair, more than 1,700 are new enterprises. More than 4,200 of the exhibitors are among top performers among specialized, high-end and innovation-driven SMEs, manufacturing single-item champions, and national high-techs, with 11,181 exhibition booths, accounting for 37.6% and 44.9% of the total number of exhibitors and booths of the first phase, up by 39.8% and 35.5% respectively compared with the previous session. There were 3,600 companies in fields of “new trio”, digital technology and intelligent manufacturing, with products such as humanoid robots, intelligent equipment and brain-computer interface favored by overseas buyers.

Secondly, there are more trade promotion events. Since the start of this Canton Fair, there have already been 432 trade promotion activities, an increase of 19.3% over the previous session. Among them, there are activities that give guidance and interpret trends for the market such as seminar on improving trade digitization, symposium on cross-border e-commerce compliance, industry forum on consumer electronics and so forth. There are also turnover promotion activities or supply and purchase matchmaking events, such as the first launch, first exhibition, and first show of new products, and the “Trade Bridge” event. In addition, based on the characteristics of the industry, more than 10 cutting-edge industry reports featuring trend analysis were released to strengthen information exchange.

Thirdly, there is a higher degree of online-offline integration. The Canton Fair App was launched this year to further optimize the 18 functions of the online platform, providing more convenient and efficient multi-scene applications and mobile services for exhibitors and buyers. For example, buyers can scan the QR code on site to access all the information of the exhibitor and its products, and can follow the online booth of the company with a single click, saving the trouble of collecting information. Meanwhile, exhibitors and buyers can also follow each other on the App and communicate easily through mobile devices such as phones after the meeting.

Fourthly, buyers are more satisfied. According to the presence of buyers over the first two days, the fair is well-attended. The majority of buyers said that it became more convenient for them to get a visa, get the certificate needed for attending the fair, and make online payment both inside and outside the fair complex. The products on display are also more innovative. Exhibitors and buyers are bargaining and reaching deals onsite, and it is expected that positive results will be achieved by the end of this phase.

Today is the third day of the first phase of the 136th Canton Fair, we will continue to provide quality services, create a good environment, and try our best to ensure the success of this Canton Fair. Thank you.

Kyodo News: Could you please introduce the progress of China-EU negotiations on EV tariffs? Will China consider increasing tariffs on imported fuel cars with large-displacement engines?

He Yadong: Regarding your first question, we responded to it at the press conference on October 12. I want to reiterate that China has shown sincerity and flexibility to the utmost by now. The two sides have achieved significant progress in some areas. However, the EU has not responded to issues of core concerns of industries from the two sides therefore significant differences still exist. China has officially invited the EU technical team to China as early as possible for face-to-face consultations in the next phase for which we have made full preparation. We are still waiting for the reply from the EU.

Regarding increasing tariffs on imported fuel cars with large-displacement engines, China is considering such measures and will make a decision with prudence after considering all factors comprehensively. Thank you.