Enterprises make the most of opportunities at fair

Editor’s note: 2021 is a significant year as it marks the 100th anniversary of the founding of the Communist Party of China. Great changes have taken place over the century, especially the seven decades since the founding of New China. This column is designed to study the role of Canton Fair in China’s development through stories of participating provinces, municipalities and autonomous regions. 

Businesses in Zhejiang province grasped the opportunity brought by the China Import and Export Fair, also known as Canton Fair, to successfully expand their global trade amid the COVID-19 outbreak last year. 

Since the beginning of last year when the COVID-19 pandemic broke out, more than 500 international exhibitions were canceled or postponed. Foreign trade enterprises in the province had to find new channels to attract clients. 

In that context, the 127th and 128th Canton Fair became an online bridge for Chinese and foreign enterprises to carry out business cooperation. And enterprises certainly took advantage of the fair to overcome difficulties. 

Zhenhua Industry and Trade, an auto parts manufacturer in Huzhou, Zhejiang, used to export its products to the United States. Affected by the pandemic and Sino-US trade frictions, the company struggled to find new clients and orders. 

However, after participating in the 128th Canton Fair, Zhenhua Industry and Trade seized the opportunity in the US’ growing self-driving tourism industry to secure intentions for orders worth $5 million at the fair. 

To reduce the risk of relying solely on the US market, the company has also expanded in Canada, Singapore, Belgium, South Korea and other emerging markets. 

Since the COVID-19 outbreak, Zhejiang has actively prepared for the 127th and 128th Canton Fair by supporting local foreign trade enterprises to expand on the international market. 

According to official statistics, foreign trade enterprises in Zhejiang contacted 60 to 100 buyers every day on average through the official website platform of Canton Fair, which not only helped them win new customers and obtain new orders, but also promoted the overall development of Zhejiang’s foreign trade. 

In 2020, Zhejiang’s foreign trade reached a record high, accounting for 10 percent of the country’s total volume for the first time. 

During the 13th Five-Year Plan period (2016-20), Zhejiang’s foreign trade volume increased by 9.4 percent annually on average, 6.2 percentage points higher than that of the country. 

Zhejiang’s total exports ranked third nationwide, and its proportion of exports in the country increased from 12 percent to 14 percent. 

At Canton Fair, there are no goods that cannot be sold, a Zhejiang official said. Because of that, Zhejiang enterprises will participate in the event this time with high hopes. 

In the 129th Canton Fair, Zhejiang enterprises have rented 3,299 booths, accounting for 27.21 percent of the fair’s total number. The number ranks first among provinces in China.