A trade and investment promotional event, jointly sponsored by trade promotion organizations from China, Japan and the Republic of Korea (ROK), will take place in Qingdao, a coastal city in East China's Shandong Province, from March 20 to 23.

　　The event, China-Japan-ROK Indust ry Fair 2006, is jointly sponsored by China Chamber of Commerce for Import and Export of Machinery and Electronic Product, China Council for the Promotion of International Trade (CCPIT), Japan External Trade Organization and Korea Trade-Investment Promotion Agency and Shandong provincial and Qingdao city governments.

　　It also receives support from the Ministry of Commerce of China, the Ministry of Economy, Trade and Industry of Japan, and the Ministry of Commerce, Industry and Energy of the ROK.

　　The industry fair is aimed at advancing regional economic integration, Gao Yan, vice-president of CCPIT, told a news conference held in Beijing on February 15.

　　The exposition will comprise three sections - International Spare Parts and Raw Materials Exhibition, Trade, Industry and Investment Attraction Exhibition, and High Technology Exhibition.

　　Nearly 1,000 exhibition booths will be offered at the exposition. Chinese, Japanese and the ROK enterprises are expected to book 500, 325 and 160 booths respectively.

　　As a comprehensive professional exhibition, the event is mainly targeted at producers and traders of machinery and electronics, vehicles and auto components, information technology products, and environmental facilities.

　　Service providers in logistics, software development, advertisement and other service sectors are another target group.

　　Investment projects and tourism resources will be presented as part of the exposition.

　　Distinguished feature

　　A distinguished feature of the event is that purchasers will exhibit the samples of spare parts and raw materials they expect producers to offer.

　　In such a purchase method, the exhibitors get more options at lower costs to locate competent producers, explore marketing channels and seek technical resources.

　　Large Japanese companies, such as Mitsubishi Electric and Panasonic Communications, tend to favour this purchase method to cut costs.

　　According to the organizers, purchasers' booths will account for 20 per cent of the total, of which Japanese exhibitors will take up 100 booths.

　　To source manufacturers who can provide high-quality and low-cost components and raw materials is a high priority for these purchase exhibitors.

　　Recent years have seen flourishing sourcing exhibitions held in various Chinese cities, including Shanghai, Shenzhen, Tianjin and Guangzhou.

　　It has turned out to be an effective way to collect business information and hunt for local producers that would otherwise be difficult to identify.

　　China-Japan-ROK Industry Fair hence provides a perfect sourcing opportunity for companies in the three countries and foreign-invested businesses in China.

　　The expo organizers have opened an official website to offer online services in four languages, including Chinese, English, Japanese and Korean.

　　The website will release the latest news on industrial development and information related to the exposition. Participants can register via the Internet.

　　Organizers said they have recruited nearly 100 volunteers to provide on-the-spot interpretation services for exposition participants.

　　In addition, organizers will also arrange for business tours in Qingdao and Yantai, coastal cities in Shandong Province, seeking to promote trade and investment among the three countries.

　　To enhance exchange and co-operation, a high-level China-Japan-ROK forum for business co-operation will take place during the event, with an estimated 500 participants.

　　Regional powers

　　With their competitive strength in machinery and electronics, Japan and the Republic of Korea are at the forefront of the manufacturing industry.

　　Japan-based companies hold the largest market share worldwide in the trade of machinery products and electronics, up to 25.3 per cent, and ROK ranks third.

　　After years of restructuring and innovation in technology and management, China has made substantial progress in manufacturing capability.

　　High value-added products marked with "Made in China" are flowing into developed countries, drawing attention from Japanese and ROK companies.

　　A host of large businesses headquartered in Japan and the ROK began to shift their manufacturing operations to China, seeking new partners in the emerging industrial power.

　　They prefer purchasing locally produced spare parts, which presents an enormous opportunity to Chinese component providers.

　　Qingdao, where the exposition is to be held, has a comprehensive industrial base, complete infrastructure facilities, sufficient energy supply, and rich natural and labour resources.

　　It thus becomes a favoured destination for foreign investors, especially those from Japan and the ROK, and is getting increasingly involved in the vast global production network.