The 134th Canton Fair sets new records in scale – positive factors accumulate in foreign trade

 The 134th China Import and Export Fair, also known as the Canton Fair, recently opened. This edition of the fair has set new records in terms of total exhibition area, total number of booths, and number of participating companies. The Canton Fair is one of the important windows for observing China’s foreign trade, and the continuous growth of related data reflects the positive changes in China’s foreign trade. This is corroborated by other data released recently, indicating that the foundation for high-quality development of China’s foreign trade is becoming more solid, demonstrating strong resilience and innovative vitality.

The number of companies participating in the online platform of this Canton Fair is nearly 29,000, an increase of 2,115 from the previous session. The level of intelligence and convenience of the online platform continues to improve with 101 optimized functions. So far, companies participating in the online platform have uploaded about 2.72 million products, including about 700,000 new products.

“The Canton Fair has shown positive factors in China’s foreign trade during the preparation period,” said Qu Weixi, deputy director of the Institute of International Trade and Economic Cooperation of the Ministry of Commerce. The number of participating companies has increased, with many “small giants” specializing in new technologies, manufacturing industry champions, and national high-tech enterprises actively participating. Nearly 100,000 new exhibits with high technology content and high added value in new energy and industrial automation are on display.

Judging from the pre-registration rate, hotel booking rate, flight booking rate and other situations, the trend of overseas buyers attending this Canton Fair is stable and improving. “It is expected that the number of attendees will significantly increase compared to the last Canton Fair,” said Xu Bing, spokesperson for the Canton Fair and deputy director of the China Foreign Trade Center.

In terms of optimizing the exhibition area structure, this Canton Fair provides more display space for advanced manufacturing products, exhibits more innovative, high-end, intelligent, green products, reflecting changes in China’s industrial structure and export commodity structure.

Jiangsu Sumida Electric Co., Ltd. showcased its innovative achievements in smart energy during the Canton Fair. Zhou Yu, general manager of the company, introduced that the portable energy storage device that made its debut this time uses lithium batteries as a carrier and can be used in outdoor travel and emergency disaster prevention scenarios.

For more than 20 years, Guangzhou Double Fish Sports Goods Group Co., Ltd. has never missed a Canton Fair. “We have improved the output rate and quality stability of international standard balls by continuously upgrading production processes and innovating selection processes. We have registered brands in more than 30 countries and established a market network,” said Wu Huaqiang, deputy general manager of Double Fish Sports.

After many years of innovative development, today’s Canton Fair is a comprehensive platform integrating information exchange, innovation release, industry promotion, trade services and other functions.

To welcome the Canton Fair, Guangzhou Haidante Technology Co., Ltd. accelerated research and development to launch eight first-launch new products and obtained qualifications to participate in the new product release at the Canton Fair. “We hope to make global customers ‘brighten up’,” said Yu Shaomei, sales director of the company. From OEM to launching its own brand into overseas markets, the company gradually realized that innovation is key to enhancing competitiveness.

As the largest exhibitor group at this Canton Fair, private enterprises account for 90%. The latest data for Q1-Q3 show that China’s private enterprises imported and exported RMB 16.34 trillion yuan (approx $2.5 trillion), an increase of 6.1% year-on-year and accounting for 53.1% of China’s total import and export value. “Private enterprises continue to act as China’s main export force and pioneers in brand building,” said Ni Yueju, a researcher at the Institute of World Economics and Politics at Chinese Academy of Social Sciences.

Since the full resumption of offline exhibitions at the Canton Fair, many exhibitors have stated that offline negotiations have higher customer stickiness and better experience. Guangdong Greentrans New Energy Electric Vehicle Technology Co., Ltd., an “old friend” at the Canton Fair hopes to open up a larger market through it.

There are also “new recruits” in foreign trade. “For our first participation in this fair we brought several leading products,” said Zhang Yeqing deputy general manager Shandong Qingzhou Jianfu Gear Co., Ltd., hoping to exchange skills with domestic and foreign counterparts on this big stage to promote continuous product quality upgrades.

Despite pressure from weak external demand due to unstable global economic recovery momentum this year as well as high base effects from last year’s growth rates experts say that China’s economy continues to recover steadily with solid progress made towards high-quality development in foreign trade.

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