The 133rd China Import and Export Fair, commonly known as Canton Fair, held from April 15 to May 5 in three phases, resumed all on-site activities in Guangzhou, capital of south China's Guangdong Province, after being held largely online since 2020.
Launched in 1957 and held twice annually in spring and autumn, the fair is considered a barometer of China's foreign trade.
Specifically, it has achieved the largest scale since 1957, with both the exhibition area, at 1.5 million square meters, and the number of on-site exhibitors, at nearly 35,000, hitting a record high.
The first phase, which lasted five days, concluded on Wednesday.
It comprised 20 exhibition areas, for categories including household appliances, building materials and bathroom products, and attracted buyers from 229 countries and regions, more than 1.25 million visitors, nearly 13,000 exhibitors, and over 800,000 exhibits.
Phase two will take place from April 23 to 27 featuring exhibits of daily consumer goods, gifts, and home decoration, while phase three will see products including textile and clothing, footwear, office, luggage, medicine and health care, and food on display from May 1 to 5.
"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 Malaysia-China Chamber of Commerce, a regular attendee of the Canton Fair, which has brought over 200 participants to this year's event in the hope of seeking more opportunities for cooperation.
Local customs authorities said Tuesday that Guangdong saw its foreign trade reach 1.84 trillion yuan (about $267 billion) in the first quarter of 2023.
Notably, Guangdong's total export and import value reversed earlier declines and started to grow by 3.9 percent year on year in February. In March, its foreign trade grew 25.7 percent year on year.
Guangdong's Q1 foreign trade demonstrates the strong resilience and vitality of the province's economy, laying the foundation for achieving its annual growth target, said Wen Zhencai, an official with the Guangdong branch of the General Administration of Customs.
As China's leading foreign trade player, Guangdong has set a foreign trade growth target of 3 percent for 2023.
The steady recovery of China's economy, favorable policies aiming to stabilize foreign trade, the accelerated implementation of major projects, new deals inked during exhibitions and events like the ongoing Canton Fair, and increasing enterprise confidence are expected to provide solid support for the development of Guangdong's foreign trade, said Wen.
China's exports surged 14.8 percent in U.S. dollar terms from a year ago in March, greatly exceeding market expectations and pointing to a positive growth momentum for the country's trade sector.
China's overall foreign trade rose 4.8 percent year on year to 9.89 trillion yuan ($1.44 trillion) in the first quarter, with trade growth improving since February, customs data showed.
Post time: May-23-2023