China on July 13 signed a $5 billion deal with the U.S. in Des Moines, Iowa, to import 12.53 million tons of soybeans and 371 tons of pork and beef from the U.S. The deal covers 20 enterprises from both countries.

Nearly a hundred officials and representatives from the two countries attended the signing ceremony.

Counselor for Science and Technology with the Chinese Consulate in Chicago, Xu Hai, said China’s consumption will see further expansion as the country’s urbanization and middle-class population continue to grow. U.S. exports to China still have a large growth potential, Xu added.

“The opening of China to U.S. beef imports is a very exciting development for the state of Iowa and for our cattle farmers,” said Adam Gregg, Iowa’s Lieutenant Governor. Kim Reynolds, the state’s newly elected Lieutenant Governor will visit China next week with an agricultural trade delegation, he added.