Past Minnesota Governors have worked hard to lay the groundwork of this relationship and now we have a keen opportunity to take a great leap forward. We should not miss the opportunity. On November 2 nd , I will lead a 12-day business development mission to Beijing, Shanghai and Hong Kong. Information Technology Medical Products Minnesota has much to offer China, and these industries represent our greatest export potential. In fact, China is so interested in our biomedical and information technology, we will be looking for opportunities to develop more technical tours to Minnesota.
China represents HUGE potential.
It is now the state's third largest export destination, up from fifth place in 1998, and all the way up from 11th in 1990. China is the second largest market for medical devices in Asia, and it's expected to grow by 10 percent over the next three years. Eighty percent of Minnesota's exports to China are related to high-tech products. China has a gross domestic product of more than one trillion dollars. I've learned a lot about the value of trade missions since going to Japan, Canada, and Mexico.