Event features best of new services, innovation

A business matchmaking event, jointly held by the China Foreign Trade Centre and the Guangdong branch of Bank of China during the ongoing 128th China Import and Export Fair, attracted 80 exhibitors and small and medium-sized enterprises from the Guangdong-Hong Kong-Macao Greater Bay Area.

The event, which took place on Tuesday at the Westin Pazhou in Guangzhou, Guangdong province, aimed to help stabilize the foreign trade sector with financial services, organizers said.

CIEF’s move to an online format is a key decision of the central government in response to the outbreak of COVID-19, coordinating efforts in prevention and control of the pandemic, and business and production resumption, said Li Jinqi, director-general of the China Foreign Trade Centre. Li also serves as the secretary-general and deputy director of the CIEF organizing committee.

The China Foreign Trade Centre has implemented the decision and given CIEF, also known as the Canton Fair, full play to work as a comprehensive opening-up platform, Li said.

Since the 127th Canton Fair, which was held online in June, organizers have partnered with financial institutions including BOC to employ new technologies and create a finance-dedicated section on CIEF’s official website. By doing so, they hope to provide exhibitors with tailor-made financial products and services.

The move also aims to help businesses involved in foreign trade secure orders, maintain their market share and reduce costs, Li added.

Part of the series of the 128th Canton Fair activities, the financial event on Tuesday was designed to support exhibitors by meeting their needs for financing and settlement services, providing them with better and more efficient supportive services.

To answer the central government’s call for ensuring both livelihoods and economic development, the China Foreign Trade Centre and BOC will further their cooperation in stabilizing the foreign trade industry and flow of foreign capital, innovating and improving financial services at the Canton Fair and thus offering better participation experiences, Li said.

Li Ruiqiang, governor of BOC’s Guangdong branch, said the online 128th Canton Fair shows the event has adapted to current circumstances while following through on its commitment to serving the export-oriented economy.

Facing the challenges in this year’s foreign trade, BOC leverages its expertise in foreign currency and trade, shouldering its responsibilities as a large State-owned banking group. It has rolled out a series of measures to stabilize the foreign trade sector, Li Ruiqiang said.

At the 128th Canton Fair, BOC has launched one brand-new and three upgraded financial service features.

In collaboration with the CIEF organizing committee, the banking group is scheduled to co-host three offline financing matchmaking events, assisting participating companies with their needs for financial services.

As a financial service provider and global partner of exhibitor recruitment of the Canton Fair, BOC will continue innovating its services and pushing the development of international trade and transnational investment with financial strengths, Li Ruiqiang said.