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"China is showing an increasing demand for midrange to high-end fruits, and the business opportunity for fruit imports is becoming more promising," said Cao Derong, president of the China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce and Animal By-Products.

"But the price wouldn't go up much even if it rises," he said.

"But what we can take seriously is that the US stakes and interest in the Arctic is significantly on the rise and they want a much bigger influence," he added.

"CIIE serves as the platform for international procurement, investment promotion, cultural exchange, and opening-up and cooperation," said Wang Bingnan, vice-minister of commerce and director of the CIIE Bureau, while addressing the ceremony. "Amid the COVID-19 pandemic, to successfully host the third CIIE shows China's crucial role and responsibility in restoring the global economy," he added.

"China has made rapid progress in improving its business climate for domestic small and medium enterprises in the past year. This progress, which now puts China among the top 50 economies in the world, signals the value the government places on nurturing entrepreneurship and private enterprise," said Bert Hofman, World Bank country director for China.