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China strengthens its grip on global timber supply chains with $2.7 billion deal

Posted on November 25, 2024 |

China secured forestry contracts worth over US $2.7 billion (19.4 billion yuan) at the World Forestry Industry Conference in Nanning.

The conference, held as part of the China-ASEAN Expo (CAEXPO), focused on boosting trade, investment, and tourism between China and ASEAN nations.

The total value of China’s forestry industry surpassed 9 trillion yuan last year, making it the leading nation in forestry production, trade, and consumption.

China controls over 30% of global trade in forest products, including 70% of the world’s plywood, either directly or through Chinese-owned operations in Malaysia and Indonesia.

As the largest consumer of forest products, China accounts for 18% of global demand and 71% of Asia's demand.

China imports 55% of its wood, including timber, logs, pulp, and paper.

China’s strong position in the timber market continues to grow, consolidating its control over global supply chains.