Canton Fair new business opportunities between China and US

The 129th Canton Fair hosted an online business matchmaking event between Chinese enterprises and businesses in the United States on April 16.

An online agreement-signing event between the Canton Fair and the Midwest USA Chinese Chamber of Commerce as one of its global cooperative partners was also held on the same day.

Gu Chunfang, commercial counselor at the Chinese consulate-general in New York; Xu Bing, deputy secretary-general and spokesman of Canton Fair and deputy chief of China Foreign Trade Center; Leo Chan, executive director of the Midwest USA Chinese Chamber of Commerce; and Franklin, a purchasing manager for Kroger, were present at the event.

Gu Chunfang, commercial counselor at the Chinese consulate-general in New York 

Gu Chunfang said Canton Fair is an important showcase of China’s opening-up and international trade. She said publicizing Canton Fair among US businesses is an important mission for the Chinese consulate-general in New York.

Despite a host of difficulties, Chinese-US trade achieved steady growth last year, Gu said. Trade volume between the two countries reached $586.7 billion in 2020, growing 8.3 percent from the previous year. China’s exports to the US increased 7.9 percent year-on-year, while its imports increased 9.8 percent, Gu said.

The official said opening-up is a core national policy of China and that the country will continue to open wider to the world. She added that China welcomes US businesses to take part in its development and achieve win-win benefits.

Xu Bing, deputy secretary-general and spokesman of Canton Fair and deputy chief of China Foreign Trade Center 

Xu Bing said this is the third time that Canton Fair has moved online after the two sessions did so in 2020.

He said the move to an online format is to ensure the stabilization of international trade and the global supply chain while adhering to the requirements of pandemic prevention and control.

The current Canton Fair features a rich variety and record number of exhibits among many other new highlights, Xu said. Another highlight is a special exhibition section for rural revitalization.

The official said Canton Fair is a two-way platform that emphasizes both imports and exports, aiming for win-win scenarios in international trade cooperation.

While promoting China-made products to the world, Xu said Canton Fair has played an important role in introducing overseas products to China, making China an important part of the global market that can help the international business community and its consumers to share the benefits of China’s development.

“China is a huge market with a population of 1.4 billion,,” Xu said. “With the current upgrade of its consumer market, there is a huge demand in China for products from all over the world, including the US.”

He said that Canton Fair is implementing a Global Cooperative Partner Program, which aims to establish partnership ties with industrial and trade organizations throughout the world. To date, Canton Fair has forged cooperative partnership ties with 141 organizations in 81 countries and regions, including six organizations in the US.

The official said he is delighted with the new ties with the Midwest USA Chinese Chamber of Commerce, which were solidified with a partnership agreement signed on April 16.

“I expect the partnership to further enhance Canton Fair’s cooperation with the business community in the midwest of the US,” Xu said.

Kroger, the fifth-largest retailer in the world, met a number of Chinese suppliers at the online business matching event.

The Chinese suppliers are from regions including Guangdong, Jiangsu, Shandong, Zhejiang, Fujian, Chongqing and Gansu, and are supplying products ranging from daily consumer goods to home decor, gifts and food to medicines.