China's largest trade fair hints rosy export ahead

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China's largest trade fair concluded its 122nd session on Saturday in the coastal province of south China's Guangdong Province, with more foreign buyers and more deals.

The China Import and Export Fair, known as the Canton Fair, is held every spring and autumn in Guangzhou. It is widely seen as a barometer of China's exports.

Export turnover reached 30.2 billion US dollars, up 8.2 percent year on year. A total of 191,950 buyers from 213 countries and regions attended the fair, up from 3.4 percent, according to fair spokesman Xu Bing.

Xu said that over 60 percent of industries saw an increase in deals.

"Steady growth of China's foreign trade is expected to continue, on the premise that no major risk events would happen," according to Xu.

LED lights on display inside a booth at the Canton Fair in Guangzhou, China /VCG photo

The fair's double surges in export turnover and buyers attested to the effectiveness of Chinese foreign trade companies in business innovation and economic restructuring, according to industry insiders.

More than 160,000 types of products manufactured by about 25,000 companies were exhibited in some 60,000 booths at the fair. And a large proportion of the exhibits at the fair were smart, low-carbon and customized products of local brands.

More than 2,000 domestic manufacturers with their own brands attended the event, many bringing their state-of-the-art products.

The fair also attracted 84,445 buyers, up 3.48 percent from last year, from countries and regions along the Belt and Road.

Export turnover with the Belt and Road countries and regions increased by 13.6 percent to 9.37 billion U.S. dollars or 31.1 percent of the fair's total.

Exhibitors from various sectors, including construction materials, machinery, home appliances, textiles and food, saw robust demands and growing deals from such countries and regions.

Wenzhou Reluex is a manufacturer of healthcare and massage equipment based in east China's Zhejiang Province. Its export turnover expanded by 62.5 percent in the first eight months of this year, thanks to a larger market share in Southeast Asia and countries along the Belt and Road.

Staff at Ubtech Robotics chat behind Alpha1 Pro, a humanoid robot for entertainment and education, at the Canton Fair in Guangzhou, China. /VCG photo

Besides, 341 companies from 17 Belt and Road countries and regions also attended the fair's import exhibition, which provided a major platform for them to explore the Chinese market and meet buyers from around the world.

However, Xu also warned that rising raw material prices, exchange fluctuations, manufacturing refluxing of developed countries and the rise of middle and low-end manufacturing in emerging economies would still have an impact on China's foreign trade development.

Protectionism, sluggish external demands, and the struggling recovery of the world economy were also among the "many uncertain and unstable factors" affecting China's foreign trade.

Many buyers at the fair remained cautious and just placed short-term orders of no more than 6 months, Xu noted. He called for continued efforts to reform and upgrade China's foreign trade industry.

"The Canton Fair will continue to support Chinese foreign trade companies in their supply-side structural reform, forge a comprehensive and open platform, and make contributions to the transformation and upgrading of China's foreign trade," he said.

Source(s): Xinhua News Agency