SFC Market Talk｜Canton Fair shows vitality of China's foreign trade

南方财经全媒体记者谢鸿州 广州报道

A miniature "global village"

The 134th edition of the Canton Fair is wrapping up soon in Guangzhou. It is China's largest and oldest trade fair and is also known as the barometer of China's foreign trade. In the past six decades, despite the falls and rises of the global economy, the event has connected Chinese producers with international buyers twice a year without fail. Behind the continuity of the Canton Fair is a rapidly growing manufacturing sector in China and the mutual needs of Chinese and global businesses. 

Like a miniature "global village", the current session of the Canton Fair attracted over 28,000 exhibiting companies and a total number of 177,000 overseas buyers from over 200 countries and regions. 

Among the participants, nearly 70,000 buyers come from countries involved in the Belt and Road Initiative, a whopping 65.2% increase over the same period last session, speaking the significant growth from BRI countries. Export deals worth 12.33 billion U.S. dollars were signed offline during the first phase. Half of these deals are also from BRI countries. Additionally, the three-phase exhibition featured 650 exhibitors from 43 nations and regions in its International Pavilion, around 60% of whom were from BRI countries.

Clearly, the relationship between enterprises from China and BRI countries has grown stronger at the Canton Fair, based on mutual benefits.

The world's economic recovery has been slow, and global trade has faced pressures. Despite this backdrop, the international passion for the Canton Fair not only shows the strong connections among BRI countries but also reflects growing global confidence in Chinese manufacturing and, more broadly, the Chinese economy.

Sustainability is the new fashion for China's foreign trade

In this year's event, sustainability is the new fashion. The scale of the new energy exhibition has seen an incredible increase of 172%, showcasing China's cutting-edge energy solutions, such as electric vehicles, solar products, and lithium batteries. These "New Three" products have certainly captured everyone's attention this time, and global buyers are excited to make deals.

This change echoes a new trend in China's foreign trade. Official data shows that in the first three quarters, exports of the "New Three" products grew rapidly, with total exports reaching nearly 109 billion US dollars (798.9 billion yuan), marking a year-on-year increase of 41.7%. These products are key drivers in revitalizing the country's foreign trade.

The need for green transition is universal, and therefore, global competition is fierce. However, with the Chinese government actively implementing favorable policies for green transition, Chinese tech companies are encouraged to increase their investments in research and development. Many buyers have told us that they believe China is leading the way in terms of renewable solutions, and this is becoming a consensus. 

The vibe at the Canton Fair offers only a glimpse into China's success in promoting high-level opening-up. Over the years, China has spared no effort to open up and provide platforms that facilitate global trade, instilling momentum for the recovery of the international market. 

策划：于晓娜    

监制：施诗

责任编辑：和佳

记者：谢鸿州 杨雨莱

制作：谢鸿州 李群

拍摄：杨雨莱

新媒体统筹：丁青云 曾婷芳 赖禧 黄达迅

海外运营监制: 黄燕淑

海外运营内容统筹: 黄子豪 

海外运营编辑：庄欢 吴婉婕 龙李华 张伟韬

出品：南方财经全媒体集团