The 140th China Import and Export Fair (Canton Fair) opened in Guangzhou on Thursday, as President Xi Jinping called for deeper international economic cooperation and the safeguarding of global supply chains, highlighting China's commitment to opening up.

In a congratulatory letter marking the fair's 70th anniversary, Xi said over the past 70 years since its establishment, the Canton Fair has played a significant role in promoting trade exchanges between China and other countries, serving as an effective platform for China to expand high-level opening up and promote the building of an open world economy.

The message comes as China's foreign trade continues to expand. According to data released by the General Administration of Customs on Wednesday, China's total imports and exports of goods rose 18.8% year on year to 39.94 trillion yuan ($5.97 trillion) in the first nine months of 2026, the fastest growth for the same period in five years. Exports increased 16.4% to 23.2 trillion yuan, while imports grew faster, rising 22.3% to 16.74 trillion yuan.

Lyu Yue, vice dean of the School of International Trade and Economics at the University of International Business and Economics, told China Media Group (CMG) that China's trade resilience reflects strength on both the supply and demand sides.

"Chinese industries are turning technological advances into high-quality products that meet global demand, while the country's vast market creates opportunities for foreign businesses," Lyu said.

This demand-side strength is also reflected in China's role as a major importer. The country has been the world's second-largest import market for 17 consecutive years, and its 15th Five-Year Plan (2026-2030) calls for more balanced import and export growth.

Trade growth has also extended across major partners. China's trade with ASEAN reached 6.84 trillion yuan, up 22.7%, while trade with the European Union rose 8.4% to 4.78 trillion yuan. Trade with other APEC economies increased 23.9% to 24.07 trillion yuan.

Intermediate goods accounted for more than half of China's exports in the first three quarters, while equipment manufacturing contributed nearly 90% of export growth, customs data showed. These goods supply components and equipment to businesses across international production networks.

The high share of intermediate goods reflects the breadth of China's industrial base, said Zhou Mi, a senior research fellow at the Institute of American and Oceania Studies of the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.

The fair comes amid scrutiny from some Western economies over China's manufacturing capacity and trade imbalances, with concerns that Chinese exports are intensifying competitive pressure on overseas producers.

"Chinese companies have developed economies of scale and industrial clusters across a wide range of sectors, supplying intermediate goods that help other countries develop their industries and advance industrialization," Zhou told CMG. The country also imports large volumes of intermediate goods from abroad, with such trade reflecting the close integration of economies and creating opportunities to share the benefits of development, he added.

Foreign-invested companies in China are also benefiting from the country's growth. Their imports and exports rose 19% year on year in the first three quarters, reaching a record high for the period. A September report by the American Chamber of Commerce in Shanghai found that more member companies viewed China as a global base for innovation, production and sourcing, with "in China, for the world" emerging as a preferred business strategy.

"China's expanding domestic market and efforts to facilitate trade are creating more opportunities for foreign businesses," Zhou said. At a time when global trade faces challenges from protectionism and unilateralism, China's open market offers greater stability and confidence, helping encourage further cooperation, he added.

The Canton Fair offers a window into China's international commerce connections. Running from October 15 to November 4, the event spans 1.55 million square meters and features more than 30,000 exhibitors and 340,000 overseas buyers. New and green products account for record shares of 23.2% and 26% of exhibits, respectively.

Rather than treating trade as a zero-sum contest, Xi's letter places the emphasis on maintaining an open trading system and expanding mutually beneficial cooperation. 

"China is willing to join hands with countries around the world to safeguard the multilateral trading system, ensure the stability and smooth operation of global industrial and supply chains, expand the space for mutually beneficial international economic and trade cooperation, and promote a universally beneficial and inclusive economic globalization, to inject new momentum into global development and prosperity," Xi wrote.