Traders in BRI regions benefit from Canton Fair’s authoritative platform

As one of China’s most authoritative and comprehensive platforms for foreign trade and opening-up, the China Import and Export Fair, or Canton Fair, has played a remarkable role in promoting the Belt and Road Initiative over the past eight years since the initiative was proposed by the Chinese government in 2013.

At the 127th Canton Fair held in April last year, for instance, enterprises from BRI regions accounted for 72 percent of the total number of exhibitors. Their exhibits took up 83 percent of the total number of exhibits.

Canton Fair was launched in 1957, aiming to break the trade blockage imposed by Western powers and gain access to supplies and foreign exchanges needed for the country’s development.

Over the decades to follow, the Canton Fair has grown into a comprehensive platform for China’s international trade and economic globalization. It has stood as a witness to China’s growing strength in foreign trade and economy. The country is now the second-largest economy in the world, and a leader in and a crucial driving force for international trade.

Chinese President Xi Jinping proposed the Silk Road Economic Belt and the 21st Century Maritime Silk Road, or Belt and Road Initiative, in 2013. The initiative was meant to offset the influence of the current trade unilateralism and protectionism, which is also identical with Canton Fair’s mission.

As an important trade promotional platform and “a barometer of China’s foreign trade”, Canton Fair plays an important part in China’s efforts in building a community with share future for mankind.

By the 126th session in October 2019, the accumulative transaction volume at Canton Fair totaled $1.41 trillion and the total number of participating overseas buyers reached 8.99 million.

Responding to pandemic control, the recent three sessions of Canton Fair have been held online. The online fair has offered an effective channel for businesses to identify trading opportunities, network and make deals in this difficult time of the COVID-19 outbreak.

Canton Fair has been a firm supporter of the BRI and an important player in implementing the initiative.

To date, Canton Fair has established partnership relations with 63 industrial and commerce organizations in 39 countries and regions involved in the BRI.

Through these partners, the Canton Fair organizers have strengthened their efforts in promoting the fair in BRI regions.

In the years to come, organizers said they will continue to integrate the Canton Fair’s online and offline resources to offer better opportunities to participating enterprises.