The 13th China (Guangrao) International Rubber Tire & Auto Accessory Exhibition kicked off in Guangrao county, Shandong province on Monday. [Photo/website of China (Guangrao) International Rubber Tire & Auto Accessory Exhibition] 

The 13th China (Guangrao) International Rubber Tire & Auto Accessory Exhibition kicked off in Guangrao county, Shandong province on May 15.

The exhibition is being held between Monday and Wednesday. Covering an area of 48,000 square meters, the exhibition invites more than 750 exhibitors, among which 50 are Fortune 500 companies. Meanwhile, over 800 companies are taking part in the exhibition online, 15 percent higher than that of the last exhibition.

Seven high-level forums are being held during the exhibition, covering the topics of new material, trade policy, talent cultivation and industrial innovation.

Compared with previous exhibitions, this year's exhibition showcases products with higher technological content from a wide range of categories. Many enterprises are holding various forms of activities, including new product launches, product promotion meetings and technical exchange meetings.

Currently, the comprehensive production capacity of radial tires in Guangrao county reaches 176 million, accounting for about half of that of Shandong province and a quarter of the national total. Five local tire enterprises have set up seven branches in Hong Kong Special Administrative Region, Vietnam, Laos, and other countries and regions. Among them, Jinyu Tires invested $150 million in Vietnam to develop a project with an annual output of 2 million sets of all-steel radial tires. The project has officially been put into production.

In 2022, the industrial output value of the rubber tire industry in Guangrao county reached 33.8 billion yuan ($4.9 billion), with an export value of 21.8 billion yuan, up 9.6 percent year-on-year. Six enterprises in Guangrao have successfully been listed as top 75 global tire brands.