Canton Fair Promotes Economic Integration between China and Countries in the Belt and Road Initiative

At the opening press conference of the 124th Canton Fair held on October 14th, Xu Bing, spokesman for the Canton Fair and Deputy Director General of the China Foreign Trade Centre, introduced the measures and achievements of Canton Fair in implementing the "the Belt and Road" .

Xu Bing said that in the past 5 years, with President Xi’s promotion, the "Belt and Road" has achieved fruitful results and is becoming China’s solution to participate in global open cooperation, improve the global economic governance system, promote global common development and prosperity, and promote the building of a community of shared destiny. As the largest trade promotion platform in China, the Canton Fair has been serving the "Belt and Road" initiative in the past 5 years, and deepened the economic and trade cooperation with B&R countries. It has become a link between China and B&R countries for win-win cooperation and economic integration, and has promoted smooth trade and win-win development between China and these countries.

Cooperation with governments and industrial and commercial institutions along the route have been strengthened. Canton Fair has signed a cooperation agreement with 46 industrial and commercial organizations in 32 "Belt and Road" countries, providing consultation, participation, and trade promotion services for enterprises in these countries.

The number of buyers has increased. The number of buyers from these countries increased from 77,278 at the 114th Canton Fair in 2013 to 90,576 at the 123rd session, an increase of 17.2%, and its proportion to the total increased from 40.75% to 44.54%. At present, among the top ten buyer origin countries and regions of the Canton Fair, 7 are B&R countries. The number of buyers from emerging nations such as India and Russia continued to grow. China's high-quality and low-cost products are favored by consumers along the route. The amount of goods sourced by buyers from these countries at the Canton Fair reaches US $9.67 billion per session, accounting for 32.2% of the total transaction volume of the Canton Fair.

Help the countries along the route expand their exports to China and expand the global market. Each Canton Fair attracted more than 300 "Belt and Road" exhibiting enterprises. The exhibition area accounts for nearly 60% of the total area of the International Pavilion. In the past 5 years, it has attracted nearly 3200 enterprises to participate in the exhibition. The number of participating countries and regions has exceeded 35. Through various forms of trade matchmaking activities, the enterprises along the route have opened up Chinese and world markets and Canton Fair helped these enterprises "buy from and sell to the world".

Xu Bing said that the 124th Canton Fair will continue to carry out the "the Belt and Road" initiative, tap the potential for cooperation, and drive China's economic and trade cooperation with the countries along the route to a new level.

Deepen cooperation with partners along the route. According to the needs of enterprises, we will enrich cooperation content and enhance cooperation level with the partners of industrial and commercial organizations in the fields of strengthening publicity and promotion, organizing trade matchmaking activities, providing tailored high-end conference services and so on.

Increase the invitation to buyers of countries along the route. The overall promotion plan of this Canton Fair will expand the market in the "Belt and Road" initiative. Mail invitation to the countries along the route will continue to increase, accounting for about 52% of the total.

Enterprises along the Belt and Road are actively participating in the International Pavilion. In this session, 381 enterprises from 17 countries and regions in the "the Belt and Road" initiative participated with a total number of 615 booths, accounting for 60% and 62% respectively, covering all 6 product zones of the International Pavilion. 7 countries, including South Korea, Malaysia, Egypt, Turkey, Thailand, Pakistan and India, participated in the form of national delegations.

The 5th Anniversary Forum of "Belt and Road" will be held. In this session, we will hold the "5th anniversary of Belt and Road"--- networking of the Canton Fair International Pavilion, and invite Chinese exhibitors and representatives from governments, industrial and commercial organizations of B&R countries to renew friendship, discuss cooperation, and to draw a picture of economic and trade cooperation with B&R countries.

 (Canton Fair Press Center)