The 137th China Import and Export Fair, known as the Canton Fair, concluded its second phase with a record 224,000 overseas buyers from 219 countries and regions, defying global trade tensions. As U.S. tariffs intensify, Chinese exporters showcased strategic shifts toward market diversification and industrial innovation to maintain global competitiveness.
Shifting Trade Horizons
Companies like Yongjia Garments Co. are reducing reliance on U.S. markets amid falling profit margins due to tariffs. By capping single-market exposure at 30% and investing in brand development, firms are prioritizing sustainable growth over volume. "Tariffs accelerate long-term strategic adjustments," said Liang Yu, a veteran lighting sector trader, whose firm now focuses on Belt and Road markets in South America and Southeast Asia.
Building Global Industrial Chains
Since 2018, Chinese manufacturers have increasingly established overseas production bases to mitigate trade risks. Export data reveals striking trends: the U.S. share of China's exports dropped from 19.2% in 2018 to 14.7% in 2024, while ASEAN's share rose to 16.4%. Belt and Road partners now account for 47.8% of exports, underscoring deepening regional ties.
Policy Support and Future Outlook
Industry leaders like Li Wei advocate for streamlined government approvals for overseas investments to strengthen global supply chains. The Canton Fair's record turnout signals resilient global demand for Chinese goods, with analysts predicting accelerated localization of production hubs in emerging markets.
