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As the country's largest and oldest exhibition in the food and beverage industry, the trade fair has attracted upwards of 3,000 exhibitors and 150,000 professional visitors this year. It is expected to consolidate 20 billion yuan (.18 billion) in transactions this year, half of which would be from the alcohol segment that includes wine, beer, liquor and Chinese baijiu.

As the trade deficit is at the core of bilateral trade relations, Zhang Zhiwei, chief China economist at Deutsche Bank, said US companies actually may have sold more to China than Chinese firms did to the US.

As the insurance period ended on Nov 30, the average market price of soybeans was 3,625.46 yuan per ton, lower than the farmers' insured price of 3,721.66 yuan per ton. They are merited to receive an insurance compensation of 96.2 yuan per ton or 1.44 million yuan in total.

As there seem to be no signs of a quick remedy to the lingering trade frictions between China and the US, and collaborations in other areas remain stagnant, the importance of people-to-people exchanges through culture becomes increasingly prominent in terms of strengthening mutual understanding and spreading goodwill.

As the world's biggest edible oil market by consumption volume, China consumes not only a range of edible oils (like those made from corn, sunflower, soybean, rapeseed, peanut, groundnut) but also millions of metric tons of edible blended oil.