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China-New Zealand trade hits record high as smart farming deepens ties

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China-New Zealand trade hits record high as smart farming deepens ties

2026-06-12 16:08 Last Updated At:16:47

Fieldays, the Southern Hemisphere's largest agricultural event in New Zealand is being held from June 10 to 13, attracting more than 100,000 farmers to learn about the latest technologies - including a wide range of heavy machinery made in China.

Trade between China and New Zealand is thriving despite global turmoil, hitting a record 42 billion New Zealand dollars. Now, the two sides are turning to smart farming technology to take their agricultural partnership even further as farming is the backbone of New Zealand's economy.

As Chinese-made tractors are increasingly popular, the Fieldays has become an international marketplace where politicians and diplomats come to promote the China–New Zealand trading relationship, especially in agriculture.

Shandong Province is one of China's largest agricultural producers. It is taking the opportunity to showcase some of its produce – and make new connections.

"We welcome investment, and we are open to exploring mutually beneficial opportunities in trade, education, innovation and business," said Geoff Taylor, Hamilton deputy mayor.

This year's event saw more Chinese exhibitors than ever before – and they range from heavy equipment companies to solar power suppliers – and smart farming businesses that will help New Zealand farmers become even more efficient.

Chinese companies like CHC Navigation provide remote-controlled systems for precision farming, and Fulinks uses cloud computing and artificial intelligence to promote sustainable farming.

"Apart from some of the state-of-art technologies that might be applied here, including drones, including AI technology, in some of the traditional sectors they can provide some cost effective solutions," said Wang Xiaolong, Chinese ambassador to New Zealand.

China's new technology is being welcomed in New Zealand, though it is already one of the world's most efficient farming nations.

"Tech is the future, anyway you can improve what you're doing and make yourself more efficient. Embrace the tech, we've got satellite coverage across the whole country now and it just opens up more opportunities for all kinds of really, really great technology," said Steve Chappell, programme manager at the New Zealand National Fieldays Society.

A large delegation from Shandong Province has also taken part in a special Agricultural Cooperation and Exchange conference to promote trade with New Zealand.

"China's high-quality development and high-level opening up will create vast cooperation opportunities for countries around the world, including New Zealand," said Chen Shijie, consul general of China in Auckland.

And the aim next year is to have a dedicated Chinese Pavilion at the Fieldays to stimulate even more trade.

China-New Zealand trade hits record high as smart farming deepens ties

China-New Zealand trade hits record high as smart farming deepens ties

Space Exploration Technologies Corp., known as SpaceX, has priced its initial public offering (IPO) at 135 U.S. dollars per share and raised 75 billion dollars through the sale of about 555.56 million shares, U.S. media reported Thursday.

The IPO values the company at about 1.77 trillion dollars, according to reports. SpaceX shares are expected to begin trading on the Nasdaq on Friday. In terms of fund-raising size, the IPO would set a record for an initial public offering. Based on the valuation, SpaceX would rank among the top 10 most valuable U.S.-listed companies.

Founded by U.S. entrepreneur Elon Musk in 2002, SpaceX has businesses in space launch services, satellite internet and artificial intelligence. The IPO has drawn strong market attention, while the company's high valuation has also prompted discussion among market watchers about its profit outlook and the sustainability of its future growth.

Reports said SpaceX's listing arrangement breaks with some Wall Street conventions, including setting the IPO price in advance and reserving a relatively high proportion of shares for retail investors. Musk will retain strong voting control over the company after the IPO.

Given Musk's large stake in SpaceX, the valuation could significantly increase the value of his holdings and make him the world's first trillionaire.

SpaceX to debut on Nasdaq at 1.77 trln USD valuation

SpaceX to debut on Nasdaq at 1.77 trln USD valuation

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