Canton Fair drives quality development of China’s foreign trade

At the concluding press conference for the 124th Canton Fair, Xu Bing, spokesperson and Deputy Secretary General of Canton Fair, Deputy Director General of China Foreign Trade Centre, introduced Canton Fair’s achievements in driving quality development of foreign trade.

Xu introduced that in this session weweelopment of foreign trade., Deputy Director General of China Foreign Trade Centre, introducededre, ick to the new development concepts; improved Canton Fair’s specialization, market orientation, information application and international development to drive the transformation and upgrading of China’s foreign trade and quality development and promote the shift of “k to theChina” to “Created in China” “Brand of China” and “Service of China”.

Quality of the exhibition was greatly improved. Weity of the exhibition was greatly improvedf China” and “Service of China”.ket orientation, information app. While responding to the China-US trade frictions, we’ve worked hard to guarantee the diversified and international origin of buyers and quality of buyers. In order to increase the reward of participating parties, we’ve provided various local industry promotion, trade promotion and matchmaking activities. To realize our goal of improving attending experience, we’ve upgraded Canton Fair’s onsite services under the framework of “Green Canton Fair” and “Smart Canton Fair”. We’ve also strived to deepen Belt & Road cooperation, improve IPR protection, and enhance the exhibition organization in the International Pavilion to serve China’s opening up on a higher level.

Enterprises made faster moves for quality development. Brand zone has around 20% of all the booths yet witnessed 31.7% of all the transactions at 9.45 billion USD. Many enterprises advanced their R&D, product innovation, branding and market exploration. Products of high technological content, high quality, high added value, self-owned brands and green products enjoyed brisk transaction, better than the overall level.

New advantages of foreign trade are forming in an accelerated manner. Driven by the innovation-led development strategy, exhibitors’ have made remarkable progress in transformation and upgrading, enhanced their bargaining power and had a greater say, thus in a better position to respond the challenge of a complicated trading environment. Firstly, more advanced technology. Many enterprises invested more on R&D and worked with universities and science and research facilities to apply cloud computing, big data, Internet of Things and other technologies in their product design, manufacturing and sales, sped up their progress in the smart manufacturing field to take a strategic high point. Secondly, more innovative products. New energy vehicles, Internet fridge, holographic transparent projection, tailored smart household items, VR gaming and many other “world’s first” products have made their appearance at the Canton Fair; these products that followed market trend and are upgraded fast have become the solutions for enterprises to tackle the external challenges. Thirdly, more recognized brands. More companies have realized that to establish, cultivate and promote self-owned brands is a core capability to develop overseas markets and build a global image. Haier launched a generator air conditioner targeting the Nigeria market, which helped it achieve the largest market share for 13 years in a roll. Fourthly, more reliable quality. Exhibitors studied international standards, implemented quality management on a full respect, regulated their manufacturing procedures and applied more detailed standards, come up with products meeting individual demands and gained more confidence for Made in China to sell well in the world. Fifthly, smarter service. Many exhibitors built their smart and efficient service system based on the Internet and big data, upgraded their after sales service and increased the customer loyalty degree.

Facilitated companies to develop diversified international markets. Buyer attendance of this session registered 189812 from 215 countries and regions; the number of buyers from ASEAN and B&R countries both increased as well as that of new buyers. The diversified and international origin of Canton Fair buyers has helped exhibitors maintain their traditional markets, explore emerging markets and develop potential markets and optimized their market mix. Just as when it is dark in the west it is bright in the east, diversified market pattern reduced risks.

Promoted open economic development of localities. We at the Canton Fair have served local economy and promoted regional feature industries, products and brands to go global. In this session we’ve organized 105 promotion activities for 20 provinces and cities such as Shanghai, Zhejiang, Fujian, Guangdong, Liaoning, Hunan, Guizhou, Nanjing, Guangzhou, Qingdao, Chengdu and Ningbo; set up special exhibition zone for featured industries of Taishan Zhejiang, Meishan Sichuan, Anxi Fujian, Jinjiang Fujian, etc; organized 7 textile and garment industrial cluster to display together; established the Traditional Chinese Specialties and canceled booth fees for exhibitors from poor areas to boost the foreign trade and economy of these areas.

Canton Fair Press Center