On behalf of the American Hardwood Export Council, it is with great pleasure that I welcome all of you to the historic walled city of Xi'an for the 23rd AHEC Greater China and Southeast Asia Convention. One of the oldest cities in China, Xi'an has been the capital city to several of the most important imperial Dynasties, and the starting point of the famed Silk Road. This ancient trading culture should serve as the perfect backdrop to our event.
The past twelve months have seen a further strengthening of ties between US hardwood exporters and the Chinese wood processing industries. Indeed, 2017 was the highest year on record with US hardwood lumber exports alone topping US$1.5 billion (up nearly 26% from 2016), further solidifying China's position as the single largest market for our products. This Convention is designed to help further strengthen these bonds, as our aim is not only to introduce US exporters to Asian importers, but to also help foster the relationships between Asian end users and specifiers and the local wood processing industry and distributors of American hardwoods.
It is no simple matter to put the day-to-day running of a business on hold to attend an event such as this, and we have worked hard to bring together an array of top-flight speakers and experts from around the world. I sincerely hope that you find this Convention to be both timely and useful, and look forward to working with all of you toward creating an even closer bond between the US hardwood industry and Asia's architectural, design and manufacturing industries.
It is my great pleasure to invite you to the most anticipated annual event in the wood industry. This year the AHEC 23rd SEA & GRCH Convention will be held on June 21-22, 2018 at the Westin Hotel, Xi'an, China.
As everyone knows, Xi'an is one of the famous cities in the world as it is the origin of the ancient Silk Road, which is the capital of Shaanxi Province. We choose Xi'an to host 2018 AHEC Convention this year, not only because of its unique history and culture, but also for the potential economic and wood industry development opportunities in this city. Today the number of furniture enterprises in Shaanxi numbers 3,000, mainly in Xi'an. In the first half of 2017, the total profit of the furniture manufacturing industry was around RMB5.024 billion, accounting for nearly 40% of total profits of the trade provincial enterprises above the designated level, with year-on-year increase of 18%. Additionally, growth in the residential housing market will bring new opportunities for the furniture manufacturing industry.
China is the prime market for American hardwood exports. The growth of exports to Greater China has been led by mainland China's strong performance, with hardwood exports reaching USD2 billion, an increase of 29% (YoY) in 2017, accounting for over 52% of all global exporting value. We will be promoting the design and application of U.S. hardwood for the consumer market (e.g. furniture, wooden doors, flooring and cabinet work) on this grand convention while addressing environmental concerns by introducing sustainable American hardwoods to furniture manufacturers, architects, interior designers, engineers and real estate developers from China, Southeast Asia and overseas. This event will encourage the wide use of American hardwood in architecture, interior design and furniture making.
The Convention enjoys the support of the Shaanxi Furniture Association and Xian Furniture Association as support organizers in addition to over twenty Furniture Associations and Interior Designers Associations and Institute of Architects supporting this event. The event is expected to attract over 350 delegates and over 40 AHEC hardwood exporting members in attendance. A mini-trade show will be held at the convention for AHEC members, providing an invaluable platform for networking with local traders, distributors, manufacturers and specifiers.
At this Convention, AHEC will invite speakers to deliver keynote presentation on the sustainability and lower carbon future of American hardwood for interior design and furniture manufacturing, technical aspect and lumber grading rules of American hardwoods.
As the key organizer of the Convention, AHEC is grateful for the strong support from the trade and design industries, associations, communities and media across China and Southeast Asia. I would like to thank the U.S. Foreign Agricultural Service and Agricultural Trade Office of U.S. Embassy in Beijing, the American hardwood industry and AHEC members for their continual support. Last but not least, I would like to welcome you all to attend the Convention and I wish you all an enjoyable time. I am confident you will make new business partnerships and explore new business opportunities while enjoying the AHEC program we have planned for you.