Global traders remain optimistic about Canton Fair, with online service time up to 5 months
The 132nd China Import and Export Fair, also known as the Canton Fair, opened online with over 35,000 participating companies on October 15, 2022.
Thousands of traders gathered online at the historic China Trade Fair, which aims to provide a platform for importers and exporters around the world, with around 3 million products waiting to be traded. The event is considered a symbol of foreign trade that gives confidence to traders in international trade.
The 132nd China Import and Export Fair, also known as the Canton Fair, opened online Saturday with more than 35,000 companies attending, up 40 percent from the last fair held in April, according to the organizer’s statistics. The popularity speaks to the vitality of China’s foreign trade and its appeal to global participants, analysts said.
China has become a major trading partner of more than 140 countries and regions, and its total merchandise trade ranks first in the world, according to official data. China’s foreign trade stood at 4.19 trillion U.S. dollars from January to August, up 9.5 percent year on year, according to customs.
The Canton Fair, dubbed the No.1 expo in terms of scale, has played an indispensable role in boosting China’s foreign trade. The success of the fair has been marked by the hard work of domestic and foreign participants over the past 60 years.
Witnessing the success of the fair is the Li family of Yuen Tai Trading Co, a Hong Kong-based food wholesaler.
“We aim to bring 100 new and emerging food brands from the Chinese mainland to the special administrative regions of Hong Kong and Macao over the next five years, and to accelerate these brands into Southeast Asian markets. Is such as Indonesia, Malaysia and Singapore,” said Michael Li Chi. -fung, deputy general manager of Yuen Tai, told the Global Times on Sunday.
Li’s grandfather, Li Huan, founded Yuen Tai Trading and participated in the first Canton Fair. Since then, the company has not missed any session of the rank fair.
Yuen Tai Trading exports Chinese food brands to the world and is looking for brands interested in going overseas through the Canton Fair this year, Li said.
The Canton Fair is the barometer of China’s foreign trade. Whether the Canton Fair is held online or onsite, as long as it is held, it gives traders confidence, a Ningbo-based e-commerce industry insider surnamed Ning, also a Canton Fair veteran. .
“My company will participate in the online Canton Fair as we have done before. The Canton Fair has helped promote the transformation and upgrading of the company. Now we focus more on e-commerce and we actively develop B2C services on the basis of B2B.” Ning said.
His company views the Canton Fair as an important showcase to showcase its brands and products, as the fair attracts buyers from all over the world.
Other participants also present their products on the international platform. The number of products exhibited at the Canton Fair has reached a record high, with more than 130,000 smart products, more than 500,000 green and low-carbon exhibits, and more than 260,000 products with independent intellectual property rights.
To better help foreign trade enterprises, starting from the 132nd session, the online service period of each Canton Fair will be extended from 10 days to five months, which breaks the space-time bottleneck for the full display of more innovative products.
According to Ning, the Canton Fair has inspired traders from different regions to hold their own fairs or exhibitions, citing the China (Ningbo) Export Cross-Border E-Commerce and Foreign Trade Expo (China CEE), which has become a major trade . expo specially for foreign trade business in Ningbo and other areas of Zhejiang province, east China.
“But all these exhibitions and fairs – attractive, innovative and effective – are the epitome of China’s foreign trade vitality,” Ning said.
Abu Dhabi businessman Thomas, who has attended the Canton Fair for five years, told the Global Times that his company has organized a livestream room on the official Canton Fair website. to present the products of its partners.
Thomas has helped Chinese companies export products to the UAE, and his company is slowly transforming into an e-commerce reseller. In the future, the Canton Fair could also function as a large cross-border e-commerce platform, which is good for trade promotion, Thomas said.
He added that he has attended all sessions of the Canton Fair since 2018.
To prepare for welcoming friends from all over the world, the construction of the fourth phase of the Canton Fair Exhibition Hall was nearly completed in October. With a floor area of 560,000 square meters, the new hall adds 6,000 new stands.