The 135th China Import and Export Fair, also known as the Canton Fair, concluded its in-person exhibition on May 5, 2024, in Guangzhou, setting new milestones in its history. The online platform continues to operate as usual, providing a seamless experience for participants worldwide.
This year, the fair welcomed a record-breaking 246,000 foreign buyers from 215 countries and regions, representing a significant increase of 24.5% compared to the previous session. Notably, there were 160,000 buyers from countries along the Belt and Road, as well as 61,000 buyers from countries in the RCEP, marking a rise of 25.1% and 25.5% respectively. Additionally, BRICS countries brought in another 52,000 buyers, showcasing a growth rate of 27.6%. Europe and North America accounted for approximately 50,000 buyers. Among the prominent attendees were representatives from 226 multinational corporations, including Walmart, Auchan, and Tesco.
Remarkable achievements were also made in various metrics. The offline export transactions during the fair period amounted to $24.7 billion, indicating signs of recovery and growth. In parallel, online exports reached $3.03 billion.
The fair showcased over a million new products across various categories, including 100,000 smart products, 400,000 eco-friendly items with low carbon emissions, and 210,000 articles with independent intellectual property rights. The International Pavilion hosted around 680 companies from over 50 countries and regions, with a participation rate of 64% for Belt and Road countries.
The online platform maintained stable operations and attracted over 408,000 foreign visitors. Exhibitors’ booths received more than 3.41 million visits, demonstrating an impressive level of engagement through 1,291 live demonstrations, which garnered nearly 17,200 views.
Moreover, the 135th Canton Fair organized 264 “Trade Bridge” promotional events aimed at fostering global supply chain connections, resulting in potential sourcing intentions worth approximately $340 million.
For the first time, there was also a dedicated area for cross-border e-commerce companies alongside overseas storage firms from 11 provinces, highlighting China’s growing digital trade infrastructure capabilities.
Following the conclusion of the in-person fair on May 5, the Canton Fair continued its online services, hosting specific business events and industry-specific activities, emphasizing its status as an “everlasting” trade fair designed to facilitate ongoing global business opportunities beyond physical borders.
For more information, please visit: [https://invitation.cantonfair.org.cn/BuyerUser/RegisterUser?MediaType=16](https://invitation.cantonfair.org.cn/BuyerUser/RegisterUser?MediaType=16)
The 135th Canton Fair, also known as the China Import and Export Fair, has achieved several remarkable milestones and successes. However, it is important to consider some additional facts, current market trends, forecasts, and key challenges or controversies associated with the event.
1. Current Market Trends:
– Strong Recovery: The record-breaking number of foreign buyers attending the fair indicates a strong recovery and growth in international trade.
– Rise in Participation from Belt and Road Countries: The significant increase in buyers from countries along the Belt and Road initiative highlights the increasing interest and engagement in trade partnerships with China.
– Growing Digital Trade Infrastructure: The inclusion of a dedicated area for cross-border e-commerce companies and overseas storage firms reflects China’s efforts to enhance its digital trade capabilities.
2. Forecasts:
– Continued Market Expansion: The increasing number of participants and the strong export transactions during the fair period suggest a positive outlook for the future of international trade.
– Enhanced Digital Integration: Online platforms and services are likely to play a more significant role, allowing for convenient and seamless trade experiences for participants worldwide.
3. Key Challenges or Controversies:
– Trade Disputes and Tariffs: Ongoing trade disputes and tariff policies between China and certain countries may present challenges and uncertainties for participants at the Canton Fair.
– Supply Chain Disruptions: Global supply chain disruptions caused by the pandemic or other geopolitical factors may impact the availability and pricing of goods showcased at the fair.
Advantages:
– Extensive Global Participation: The Canton Fair attracts a large number of buyers from diverse countries and regions, offering participants a broad range of potential business opportunities.
– Comprehensive Product Showcase: With over a million new products in various categories, the fair provides a platform for exhibitors to showcase their latest innovations and offerings.
Disadvantages:
– Language and Cultural Barriers: Participants may face challenges related to language and cultural differences, which can affect effective communication and business negotiations.
– Limited Physical Presence: While the fair offers online platforms for engagement, the absence of in-person interactions may limit the ability to establish personal connections and conduct detailed product assessments.
For more information, you can visit the official website of the Canton Fair: Canton Fair Official Website.