Innovation is key to survival amid economic uncertainty

The ongoing Canton Fair is witnessing the innovative strength of Chinese companies, which is expected to inject momentum into the manufacturing industry. 

Guangdong Master Group — a company specializing in the research and development, production and sales of tableware and intelligent kitchen products — demonstrated its products on June 15, the first day of the fair.

Featuring unique design and the concept of caring for people, the kitchenware products have attracted much attention from visitors. 

Zhejiang-based Haozhonghao Health Product, a massage chair manufacturer, launched an intelligent chair at the fair.

After a livestream, the company received enquiries and orders beyond its expectations. 

To apply an innovation-driven development strategy, enterprises should improve their operating efficiency with innovation from multiple perspectives.

Innovation is vital for enterprises, as only with independent intellectual property rights and core technologies can they have perpetual competitiveness.

In the new round of technological revolution, intelligent manufacturing has become a leading power for countries to seize development opportunities.

In addition, innovation is an effective way for enterprises to cope with any severe situation at home and abroad. 

Influenced by the COVID-19 pandemic, the global economy is trapped in a downward spiral and international trade and investments have shrunk sharply.

However, foreign trade companies are seeking opportunities amid the crisis, by not only improving the quality of their products, but also innovating their marketing models.

By offering online exhibitions, the 127th Canton Fair forges a drill ground for foreign trade companies to innovate.

Making the best use of 3D and virtual reality technologies, the fair is committed to allowing purchasers around the world to discover and buy products from their homes, as part of its effort to help companies find a new path to develop amid the pandemic.