Hours after China’s retaliatory tariffs on US energy imports went into effect on Monday, a group of Chinese oil and gas executives flew to Kazakhstan to explore new trade opportunities, state broadcaster CCTV reported.
The representatives were part of a larger delegation led by the China Council for the Promotion of International Trade (CCPIT), a semi-official trade group, which involved more than 30 companies in sectors including energy, petrochemicals and industrial machinery, according to the report by Yuyuan Tantian, a social media account affiliated with CCTV.
CCPIT plans to organise more trade missions to help Chinese companies tap opportunities in the Middle East, Central Asia, Europe, Africa and other regions in fields including oil and gas, automobiles and agricultural machinery, the report added.
On Monday, China imposed a 15 per cent tariff hike on eight products from the US, including coal and liquefied natural gas (LNG), along with a 10 per cent tariff increase on a further 72 products, which include crude oil and agricultural machinery.
China has been deepening ties with emerging markets from Latin America to the Middle East in recent years, as it seeks to diversify its export destinations amid growing tensions with the West.
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