The exhibition area of the 121st China Import and Export Fair in Guangzhou is packed with buyers and purchasers. [Photo by Lu Hanxin/Xinhua]
This year's spring China Import and Export Fair, also known as the Canton Fair, showed signs of health in Chinese foreign trade, industrial innovation and connections with trading partners from countries along the Belt and Road as its first phase closed on April 19.
Commonly seen as a barometer of China's foreign trade sector, the fair has been a platform of great significance in promoting China's foreign trade since 1957.
The 121st Canton fair is divided into three phases, with the first phase, which opened from April 15 to 19, focused on electronics, household appliances and the machinery trade.
"This year, exports are expected to have a better prospect compared with last year," said Li Xinghao, president of Guangdong Chigo Air Conditioning Co. "Chigo has seen a 30 percent year-on-year increase in sales of air conditioners in the first quarter, and a 20-percent growth in exports."
According to the latest statistics released by the State Statistics Bureau, China has realized a positive economic trend with an increase of 21.8 percent in total import and export values in the first quarter, 4.2 percent of which is attributed to cargo and service exports.
Foreign buyers select mechanical products at the 121st China Import and Export Fair, which opened on April 15. [Photo by Lu Hanxin/Xinhua]
China's foreign trade growth is largely ascribed to an improved external environment and the stable domestic economic situation, insiders pointed out.
In the complicated trade environment of recent years, China has stepped up the pace of upgrading and optimizing its foreign trade structure, highlighting its innovation-driven development strategy. Chinese products with high quality and high technology are popular at the fair.
"Amid many negative comments, our company sustained around 10-percent growth annually, selling our products to more than 100 countries," said Lin Hailin, president of Zhejiang Double-lin Valves Co. "R&D innovation and setting up our own brand bolstered the growth."
Innovation boosts development for companies in traditional industries engaged with foreign businesses and helps foster new opportunities, said Bai Ming, a researcher at the Chinese Academy of International Trade and Economic Cooperation.
Purchasers look for mechanical products on the last day of phase one of the 121st China Import and Export Fair, April 19. [Photo by Lu Hanxin/Xinhua]
The Belt and Road Initiative benefits countries along the route, providing business opportunities in the global context.
Xu Bing, spokesman of the China Import and Export Fair, pointed out that a total of 364, or 58.7 percent, of exhibitors at this year's spring fair are from Belt and Road countries.
In addition, the number of visitors from the Belt and Road countries has increased significantly, and orders from these countries are expected to reach record highs.
