The China Import and Export Fair, known as the Canton Fair, China’s largest trade fair, concluded its 125th session on Sunday May 5th in Guangzhou, reporting a total export turnover of 199.5 billion yuan (about 29.7 billion U.S. dollars).
Traders talk about business during the third phase of the 125th Canton Fair in Guangzhou, Guangdong. [Photo: Shi Lei, Xiao Xiong]
According to Xu Bin, the spokesman of Canton Fair, the export turnover with countries and regions along the Belt and Road (B&R) reached 10.6 billion U.S. dollars at this session, accounting for 35.8% of the total export turnover, up 9.9% compared with the spring session last year.
The fair attracted 195,454 overseas buyers from 213 countries and regions, among which 82,375 were new to the fair and more than 88,000 buyers from B&R countries and regions, making up 42.15% and 45% of the total number of buyers respectively.
Exhibitors from Thailand cook curry during the third phase of the 125th Canton Fair in Guangzhou, Guangdong. [Photo: Shi Lei, Xiao Xiong]
According to a survey, over 83% of the buyers have intention to purchase or increase their purchases in China in the coming year. Some enterprises got acquaintance with over 80% of their customers and obtained 70% of their orders from the fair.
Xu Bin pointed out that amid uncertainties in global trade, exhibitors at the fair have sought to expand overseas markets, especially those in B&R countries and regions. New buyers from B&R countries and regions accounted for 52.68% of the total number of those new to the fair.
The China Import and Export Fair, held every spring and autumn in Guangzhou, is seen as a barometer of China's exports.
A trader rides an electric toy car during the third phase of the 125th Canton Fair in Guangzhou, Guangdong. [Photo: Shi Lei, Xiao Xiong]
Author: Monica Liu
Editor: Wing Zhang