Ningbo accounted for one twentieth of Chinese trade with the CEEC, generating US$2.45 billion worth of bilateral trade in 2014.
Ningbo, in east China's Zhejiang Province, is developing closer ties with central and eastern European countries (CEEC) as it strengthens its position as an important port city along the country's new Silk Road.
In response to the Chinese government's "Belt and Road" initiative to promote economic cooperation along the ancient trading route, the second China-CEEC Investment and Trade Expo is set to open in Ningbo on June 8. The five-day event will be held at the Ningbo International Conference and Exhibition Center and include conferences, forums, trade fairs and cultural exchange activities designed to deepen Ningbo's connections with its 16 CEEC trade partners. Organizers and officials hope to follow the example set last year at the first China-CEEC Investment and Trade Expo, where a total of 185 business deals were sealed.
Coinciding with the expo, a ministerial-level meeting will be held by China's Ministry of Commerce to drive conversation about economic and trade cooperation with the CEEC at the state level. For the first time, quality control and quarantine authorities from all sides will have a face-to-face talk about trade convenience and digital accreditation cooperation.
This year's trade fair is set to see a 15 percent increase in exhibition booths from last year, a sign of growing interest within the CEEC region to sell their local goods in China — these includes dairy products from Lithuania, amber from Poland, beer from the Czech Republic and wine from Hungary.
Discussions about e-commerce cooperations between Zhejiang Province and the CEEC will again be held at the expo, as Ningbo is among five pilot areas in China to experiment with cross-border e-commerce. It now ranks highest in trading volume within the group.
The presence of 18 Chinese high-tech enterprises, including three central-government-owned enterprises, will make technology cooperation a focal point of the event. Represented industries will include nuclear energy, high-speed railway, electric cars, smart city management and 3D face recognition.
The ties between Ningbo and CEEC, which can be traced back to the Han Dynasty (206 BC–AD 220), are being strengthened now as the Chinese government's Belt and Road initiative provides new opportunities to reexamine their importance.
The latest available figures show that Ningbo accounted for one twentieth of Chinese trade with the CEEC, generating US$2.45 billion worth of bilateral trade in 2014. Meanwhile, investment numbers stood at US$65.8 million for the CEEC in Ningbo, and US$14.33 million for Ningbo in the CEEC, which together make Ningbo a regional leader in cross-border investment.
Up to 5.25 billion yuan (US$797 million) worth of investments from Ningbo has been channeled into building two dedicated pavilions to showcase products from CEEC and hold trade fairs.
The two dedicated exhibition centers, together with a big-data platform, will provide further facility support for the CEEC to do business in Ningbo. Last year during the expo, the city launched a logistics park co-funded by Ningbo Economic and Technological Development Zone and Bydgoszcz Development Zone of Poland; and an industrial zone by the Binhai Economic Development Zone of Cixi County and the European Economic Development Zone of Bulgaria.
Ningbo plans to set aside 85 million yuan each year to deepen its cooperation with CEEC partners. But the relationship isn't only about driving trade and investment, but also about enhancing cultural and tourism collaborations.
The second China-CEEC Investment and Trade Expo will see the inauguration of the Ningbo Maritime Silk Road Research Institute, and hear in-depth discussions about a China-CEEC educational alliance. Indeed, 13 cooperative agreements regarding education are ready for signing.
Also set to kick off are the 2016 Croatian Teenage Sports Summer Camp, the first central European mini-movie contest, the CEEC knowledge contest, and a children's painting competition centered on the theme of "the CEEC in my imagination."
Hungary, as the guest of honor at this year's expo, will hold a special day to celebrate its music, food and folk culture.
For those who want to see the CEEC for themselves, it is easier than ever to get to the region from Ningbo. A direct flight from Ningbo to Budapest will be launched by Air China this month.
