Full resumption of offline exhibitions signals resilient economic momentum

People visit the 133rd session of the China Import and Export Fair, also known as Canton Fair, in Guangzhou, South China's Guangdong province, April 15, 2023. [Photo/Xinhua]

GUANGZHOU -- Facing the challenges of a post-pandemic global landscape, a burgeoning number of offline exhibitions in China are expected to play a vital role in driving the revitalization and growth of both the domestic and global economies.

With the full resumption of on-site activities, the 133rd China Import and Export Fair has kicked off in Guangzhou, South China's Guangdong province, following the third China International Consumer Products Expo in the southern island province of Hainan.

The long-standing event, also dubbed the Canton Fair, will run until May 5 and welcome purchasers from over 220 countries and regions, covering markets in Europe, the United States, and emerging markets along the Belt and Road.

Launched in 1957 and held twice yearly, the fair is considered a major gauge of China's foreign trade.

Reconnecting friends with new attractions

The Malaysia-China Chamber of Commerce, a regular attendee of the Canton Fair, has brought over 200 participants to this year's event in the hope of seeking more opportunities for cooperation.

"In the eyes of Malaysian entrepreneurs, the Canton Fair represents a gathering of China's finest businesses and highest-quality products, offering unparalleled resources and commercial opportunities that cannot be matched by other exhibitions," said Loo Kok Seong, head of the chamber.

This year's offline exhibition venues, spanning 1.5 million square meters, will host close to 70,000 booths for about 35,000 exhibitors.

The export section will accommodate around 5,700 firms with leading brands or technologies, and the import section will present 508 companies from 40 countries and regions, such as the United States, Canada, Italy, Germany, and Spain, said Vice-Commerce Minister Wang Shouwen at a press conference.

The event provides opportunities for companies worldwide to create secure, reliable and efficient supply chains with Chinese partners, Wang said.

Taurus Group, a Spanish manufacturer of small appliances for the kitchen, home and personal care, has attended the Canton Fair over the past 20 years.

"The physical fair is still the one that we prefer because we can have direct communication with Chinese companies, see and touch the products, and make the right purchase with higher efficiency and gain better effects," said Joan Basagana, president of the company.

While expanding its exhibition space, this year's Canton Fair has also added new sections on smart manufacturing, new-energy and intelligent connected vehicles, maternal and infant products, and the "silver-haired" economy. These additions attracted 9,000 first-time attendees, featuring a number of leading players in the manufacturing sector.

This photo taken on April 15, 2023 shows trade booths at the Electronics &Household Electrical Appliances exhibition section of the 133rd session of China Import and Export Fair, also known as Canton Fair, in Guangzhou, South China's Guangdong province. [Photo/Xinhua]

Resilient recovery

"We are excited to showcase our latest customizable robot, capable of lifting nearly 100 tonnes of cargo, at the Canton Fair," said You Jianwen, marketing director of a robotics and automation company in Guangdong.

You added that the company is accelerating its overseas expansion, including setting up a new factory in Detroit and launching new products at the world's leading industrial trade fair Hannover Messe in Germany. The company's total revenue is projected to exceed 600 million yuan ($87.5 million) this year.

Li Xinhua, vice-chairman of Guangdong Triangle Electrical Appliances Holdings Ltd., said the factories are working at full steam to meet the varied demand of global markets, especially in Southeast Asian countries and countries along the Belt and Road.

The resilience, vitality, and transformation of foreign trade rely on thriving industrial economies, said Bai Ming, a researcher with the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.

The innovative upgrades in the industry can also be seen in the exhibited companies, changes in exhibits, and new product releases at the Canton Fair, Bai added.

According to official data released on Thursday, China's total goods imports and exports expanded 4.8 percent year-on-year in the first quarter of 2023, reversing a decline of 0.8 percent in the first two months of the year.

"The steady growth laid a foundation for promoting stability and improving the quality of foreign trade throughout the year," said Lyu Daliang, an official with the General Administration of Customs.

China will follow the trend of consumption upgrading and actively expand imports, boost industrial transformation and upgrading, promote the coordinated development of trade in goods and services, support innovation in the business patterns of foreign trade, and amplify the interplay between domestic and international markets and resources, said Chinese Vice-Premier He Lifeng while addressing the opening ceremony of the Canton Fair.

Buyers learn about China's new energy vehicle products at the New Energy and Intelligent Connected Vehicles exhibition section of the 133rd session of the China Import and Export Fair, also known as Canton Fair, in Guangzhou, South China's Guangdong province, April 15, 2023. [Photo/Xinhua]