HAIKOU /China/, Dec. 18. /TASS/. The volume of online transactions during a one-time campaign to promote sales of agricultural goods in South China's Hainan province exceeded 54.04 billion yuan ($8.49 billion at current exchange rates), reaching a historical record, the Hainan Daily reported.
According to the newspaper, the event took place during the China International Tropical Agricultural Products Winter Trade Fair held in Haikou, the administrative center of the region. The weight of products sold amounted to 6.5 million tons, an increase of 3.5% compared to the results of a similar event held in December 2020.
Hainan's deals included some of China's largest agricultural wholesaler companies. They bought a wide range of goods such as vegetables, fruits, meat and seafood. In total, the organizers have tallied 48 classes of items.
The newspaper specifies that the concluded contracts included not only sale and supply agreements, but also agreements on the processing of raw materials and the provision of insurance services. In this connection, the fair attracted the attention of a number of banks and other financial institutions.
As commented by local authorities, Hainan’s agencies, which supervise the agricultural sector, plan to apply a series of incentives, that will allow to increase the supply of agricultural products to other regions of China, as well as abroad.
The International Tropical Agricultural Products Winter Trade Fair is held in Haikou from December 16 to 19 with the exhibition area reaching 100,000 square meters. Products of about 3 thousand Chinese and foreign companies are presented at this large-scale event, which, in 2021, was attended by 250 thousand people. In addition to China, it is attended by companies from 15 countries and regions of the world. The products showcased at the Winter Fare include fruits, vegetables, grains, oilseeds, and seafood.