The exhibition area has expanded to 1.55 million square meters, with 74,000 booths and 28,533 participating companies. Dubbed "China's No.1 Exhibition", the Canton Fair has reached new heights this year. The first two phases attracted 157,200 overseas buyers, up 53.6% compared to the same period last year. The ongoing 134th China Import and Export Fair has exceeded expectations, demonstrating that China remains a pivotal node connecting the global market.
The current Canton Fair shows that new production forces are accelerating formation in China. Chinese manufacturing continues to move up the industrial and value chain, while China's unwavering open attitude promotes the emergence of new business formats and models in trade, further strengthening China's foreign trade "resilience".
China's Market Remains Pivotal in Global Connectivity
João Pedro Neto, a Brazilian mechanical tools distributor, and his procurement team shuttled between different booths. "Many of the products we sell come from China, accounting for an increasing share," João Pedro Neto said. "Chinese manufacturing leads in quality, cost-effectiveness and service. Chinese companies have become our top partners."
"There are so many new products to see and so many old friends to visit." Nay Phone Latt, owner of Myanmar appliance company Noble Electric, felt that time was scarce. He said as the Myanmar market demands more and more electronic products, his company expanded rapidly by procuring washing machines, refrigerators, air conditioners and other home appliances from China.
Some exhibitors said that in terms of both intended deals and number of buyers, the current Canton Fair has far exceeded their expectations.
"Buyers from around the world keep coming to our booth. So far, our intended deals have reached about $2 million. Right before the closing of Phase I, I signed a $250,000 on-site order with a customer from the Middle East," said Kang Xinfu, foreign trade manager of Jiangxi Aoson New Energy Co., Ltd.
Song Seung-geun, CEO of South Korean cookware brand Dr.HOWS, was busy negotiating with buyers from different places. It was the brand's Canton Fair debut, attracting interest from Europe, the Americas, the Middle East and elsewhere. "The Canton Fair is a great opportunity to expand our market. China has sophisticated manufacturing, especially many vibrant SMEs." Song hopes to connect with more knowledgeable, productive and innovative Chinese companies.
From the opening to October 27 when Phase II concluded, the current Canton Fair has attracted 157,200 overseas buyers from 215 countries and regions, up 53.6% compared to the same period of the 133rd session. Among them, buyers from Belt and Road countries exceeded 100,000, accounting for 64% and up 69.9%. European and American buyers saw a recovery with a 54.9% increase.
New Production Forces Help Move Up Value Chain
Phase I of the current Canton Fair focused on advanced manufacturing and provided more opportunities for high-tech and high value-added enterprises. Phase II and III centered on products catering to upgraded consumption and better life, offering overseas buyers one-stop procurement.
With the deepened implementation of the innovation-driven strategy, China's new production forces are picking up pace. Many products have been developed from scratch, with Chinese offerings leading in quality and competitiveness. China's foreign trade companies continue to meet global market demand.
"Our silent variable-frequency generator sets pursue product lines to satisfy differentiated needs in various markets," said Yang Qinliang with Chongqing Huashi Dan Power Technology Co.,Ltd. After winning a Canton Fair Design Innovation Silver Award last year, the company has continued to "level up" in power output, noise reduction and more. It aims to lead the market with more technologically advanced achievements.
The current Canton Fair saw participation from thousands of outstanding SMEs, high-tech firms and national high-tech enterprises. A large number of new products with high technological and added value were exhibited, backed by China's continuous efforts in building a modern industrial system and injecting new momentum into domestic and overseas markets.
"Sensing new consumption views and lifestyles behind indoor planting, we have independently developed product lines by integrating modern agricultural science and plant lighting technologies," said the head of Hangzhou Zhuangcheng Imp & Exp Co., Ltd, whose sleek plant growth lamps and planting boxes attracted buyers from Europe, South Korea and elsewhere. Although not a big company, it has products exported to 75 countries and regions with over 140 patents. Next, it will shift business focus further into new areas like horticultural lighting to provide one-stop planting products and services, he added.
The "new three categories" of industry are taking the lead. Customs data shows that exports of electric vehicles, lithium batteries and photovoltaic cells, the "new three categories" of products, surged 41.7% year-on-year in the first three quarters this year. Full industrial chain exhibitors of the "new three categories" at the Canton Fair have showcased their expertise, moving toward the high end of the global value chain.
In the unprecedented new energy exhibition section, Shenzhen Hoson Xuchu Technology Co.,Ltd. displayed truck start-stop lithium batteries, fast-charging outdoor power stations and other new products suiting emerging application scenarios. This national high-tech firm has never been absent from the Canton Fair in the past decade. It has made appointments with over 70 new and regular customers from the United States, Europe and Belt and Road countries, seizing orders.
More companies have started to reduce reliance on traditional growth models, leveraging innovation to improve total factor productivity and accelerate integrated development with upstream and downstream firms. Thirteen lighting companies from Linhai City, Zhejiang Province have formed an exhibition cluster, attracting many buyers with their green and environmentally friendly designs and dopamine style. "From Christmas lights to festival lights and daily lights, we're speeding up overseas promotion as an alliance, actively exploring automation and e-commerce operation to expand lamp application scenarios," said Lin Caifei, head of the cluster.
Firm Expanding Opening-up Unleashes New Patterns in Trade
As a barometer and wind vane of China's trade, the Canton Fair's better-than-expected performance results from China's expanding openness. Facing the changing global trade landscape, China advances institutional innovation to unlock policy dividends, continuously optimizing the international trade network, structure and market layout.
Cross-border e-commerce enables smoother and more efficient international trade. Attending the Canton Fair for over 20 years, Guangdong Yinghao Art & Crafts Co.,Ltd. displayed creative decorative paintings and Christmas balls again. From January to October 2022, the company has cumulatively exported more than 80 million yuan worth of products to overseas warehouses for allocation and sales through cross-border e-commerce B2B, up 24% year-on-year. "This is the peak season for exporting decorative handicrafts. The order volume has been quite good this year," said Li Xiner, deputy general manager. As a pilot enterprise of cross-border e-commerce B2B exports in Guangzhou Customs district, it has built a "general trade + cross-border e-commerce + social e-commerce" model to cut costs and increase efficiency.
Localization helps share development gains. Shortly before the Canton Fair's opening, Midea Air Conditioner's 1-millionth unit rolled off production lines at its Thailand plant, which currently has six production lines mainly manufacturing split, window and portable ACs, among other products, mainly sold to North America, ASEAN countries and the Middle East. Midea said it has strengthened local supply chain advantages and increased new product investment in the ASEAN market, pursuing multi-brand building to meet the demand of different markets, benefiting local economic growth.
Trade in services seizes more opportunities. As a third-party inspection company, Ningbo Cekue Detection Co.,Ltd. Sales manager Jiang Kai and his colleagues from Germany and Colombia received inquiries at their booth. "Over 95% of our clients are overseas buyers. Our order volume has doubled since 2015," Jiang Kai said. "The Chinese market is so enormous. With the internationalization of Chinese manufacturing, our business is also expanding from China to Southeast Asia."
Industry insiders believe that Chinese manufacturing is evolving from product internationalization to corporate internationalization, from export-oriented goods trade to integrated goods, services, technology and capital flows, and from price advantages to overall competitiveness.
Business communities at home and abroad are optimistic about the bright prospects of embracing an open China.
"We are very satisfied with our cooperation, especially after going through challenges like soaring transportation costs and supply chain disruptions in recent years," said Vladislav Tcvetkov, Procurement Director for Global Sourcing Fruit, Vegetables & Floriculture of German supermarket giant Metro AG. Metro doesn't want to miss more opportunities in an open China, and looks forward to more cooperation in digitalized supply chains.
"We will not only continue organizing South Korean companies to attend every Canton Fair, but also help enterprises participate in more exhibitions, business surveys and trade activities across China. Companies have a strong desire and are very proactive," said Lin Chae-jin, deputy manager of South Korea's Eight Stars Co., Ltd. "The current environment is very friendly. More measures like pairings between sister cities and building new pilot free trade zones and introducing duty-free policies will further promote cooperation."
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