China expands ties with business allies through innovative steps

 
Currently underway in Guangzhou, south China's Guangdong Province, the 138th China Import and Export Fair (Canton Fair) which has been running for almost 70 years (since 1957) has become a powerful symbol of China's high-quality opening-up and an important window for many foreign companies to better understand economic trends, trade developments and technological advancements in the world's second largest economy, reports CGTN.

Born in an era featuring unilateralism, protectionism and geopolitical shocks, it has survived enormous challenges, making important contributions to China's economic growth and opening-up. The history of the Canton Fair, therefore, can be directly linked to the history of China's opening-up and integration into the global economy, which benefited companies and the world alike.

With the Canton Fair's accumulated export volume reaching $1.5 trillion and the number of overseas buyers, onsite and online, exceeding 12 million – the biannual event has emerged as an essential platform for international trade cooperation and economic engagement between China and the rest of the world.

The Canton Fair has been pivotal in advancing China's opening-up policy, exemplified by the establishment of the country's trade relations with 229 countries and regions. This high rate of participation positions the expo as one of the world's most significant international trade shows and endorses its role in accelerating China's economic liberalization and efforts to dismantle trade barriers.

Providing a level-playing field, the Canton Fair facilitates both domestic and international businesses to find suppliers and buyers for their products and gain access to each other's markets, encouraging exhibitors to sell products and investors to invest in China. This highlights Beijing's commitment to promote free trade and its longstanding promise to share development opportunities, unleashed by its opening-up, with the world.

Each new edition gears up the Canton Fair's appeal. A surge from over 30,000 exhibitors at April's Fair to more than 32,000 this time around and increased attendance from emerging and mature economies, reassert the event's success. It cements global confidence in China's role in stabilizing international trade and supply chains, showcasing Beijing's strengthened economic resilience in defiance of U.S. threats to reignite the trade war.

Over the past six decades, the Canton Fair has continued to expand its circle of friends.

This confidence is further reflected in China's grasp of global market demand. Whether defining the standards for the smart lawn mower market or launching revolutionary surgical robots and personalized AI-powered smart products, Chinese companies are transforming from being "followers" to "world leaders."

The 138th Canton Fair, with its grand scale, cutting-edge exhibits and attentive services, presents to the world a confident answer to the high-quality development of China's manufacturing industry.