The Phase II Fair of 120^th Canton Fair closed on October 26. So far, the Canton Fair has been held for consecutive 60 years. Through continuous development and expansion along with the development of China’s foreign trade, it has become a window, epitome and mark of the foreign trade of China. Standing on a new start point in the new era, it serves as an important bridge for the communication and exchange between the countries along “the Belt and Road” and plays an irreplaceable important role in promoting the economic and trade cooperation between China and these countries.

 

Xu Bing, deputy director general of China Foreign Trade Centre, said, “In the 60 years, the accumulated exports through the Canton Fair has reached USD1.2 trillion. From 1957 to 1965, the exports through the Canton Fair accounted for 17% of the total exports of China in the same year, while it accounted for 41.5% from 1966 to 1977 and even more than 50% in 1972 and 1973.” He said, “In recent years, the Canton Fair is no longer the only channel for China’s foreign trade export any more. However, the average annual volume of transactions at the two sessions of Canton Fair held each year still reached about USD60 billion, indicating that the Canton Fair still holds an important position in China’s foreign trade.” In the 60 years, more than 7.64 million overseas purchasers have visited the Canton Fair, manifesting the critical role of the Canton Fair in promoting Chinese commodities to enter international market relying on its huge purchaser resources and radiation effect.

 

Related survey found that, the volume of transactions of the exhibitors through the Canton Fair accounted for nearly 50% of their annual exports. On the other hand, the on-site transaction conclusion mode has been transformed into the post-fair transaction conclusion mode, which is more mature and rational. The volume of post-fair transactions accounts for about 70% of the total volume of transactions through the Canton Fair. The brand of the Canton Fair is becoming more and more widely known. Xu Bing said, “The exhibition effect of the Canton Fair has been widely recognized by the exhibitors and purchases. The fair is still the first-choice international export trade platform.”。

 

At the 95^th Canton Fair held in 2004, a brand exhibition area was set up for the first time to turn the passive situation encountered by the Chinese enterprises due to lack of core technologies and independent brands around. At the 119^th Canton Fair, the brand exhibition booths accounted for 20% of the total number of booths. The volume of transactions at the brand exhibition area accounted for 33.2% of the total volume of transaction. For 60 years, a great number of Chinese enterprises have developed from an OEM enterprise to one with independent brands. There has been increasing booths of such enterprises at the fair.

 

Among about 24,000 exhibitors to each session of the Canton Fair, private enterprises accounted for about 75%, while SMEs accounted for about 80% of the total number of exhibitors. Many enterprises found most of their overseas client and order sources directly or indirectly through the Canton Fair. The first Canton Fair was held in spring 1957. It is the only fair held by China without any suspension during the past 60 years.

 

Source: Translated from Invest Guangzhou, October 27, 2016