The 21^st China Harbin International Economic and Trade Fair (HTF), held from June 15 to 19 in China’s Heilongjiang province, showcases local businesses to more than 10,000 overseas and 100,000 domestic merchants. It allows companies to explore international markets and creates opportunities for trade negotiations, investment and enhanced publicity.

The fair is also a platform for Northeast Asian cooperation, with a significant role in strengthening economic ties between China and Russia. Since 1990, the HTF has helped develop the China-Russia Ussuriysk Economic and Trade Cooperation Zone, which has been successful in the processing and export of organic crops. Vice governor of Heilongjiang province, Sun Yao, further emphasized that China-Russia contract deals are a focus of the HTF.

This comes at a time when Russian-Helongjiang trade, China’s bridge to trade with Russia, faces challenges.  The “outdated trade pattern, the lack of regional cooperation, as well as Russia’s changing trade policies after the global financial crisis” restrict the development of trade between the two sides (quoted from Sun Yao). There is hence a shift in the trade focus of local authorities. There has been a shift from trade cooperation to investment cooperation, and from commodity trade to trade of technologies and services. Further, a trial free trade area between China and Russia, the Suifenhe Bonded Zone, is being built with generous preferential policies offered from both sides. It is expected that many businesses from China and Russia will invest, particularly in the Zone’s manufacturing, processing and trade operations.  With this increased investment, Harbin’s foreign trade volume is projected to increase by 15%.

Domestically, the fair has helped establish the Harbin-Daqing-Qiqihar Industrial Corridor, a coal and electricity hub, Heilongjiang’s first foreign bank and the British Sugar Group, which significantly boosted the local sugar industry. Today, the HTF continues to diversify its impact. Last year, it highlighted the province’s “black earth cultural projects” and animation industry. This year, it has introduced booths on winter tourism, media and publishing, and entertainment and performing arts. In fact, the total investments signed for cultural industry deals last year was over 4 billion yuan.