The 136th Canton Fair in Guangzhou is a vibrant testament to China's growing confidence in its economy and its pivotal role in advancing the global green economy. The event has drawn thousands of foreign buyers and Chinese sellers, all eager to explore innovative technologies and cutting-edge green products that are shaping the future of sustainable development.
This year's fair has seen a significant expansion, with nearly 4,600 exhibitors participating for the first time. The vast exhibition space reflects the deepening trade relationships and positions China as a key growth market for businesses worldwide. Companies from around the globe are seizing the opportunity to source products, discover the latest trends, and identify emerging consumer patterns that can help grow their businesses.
The Canton Fair, held twice a year since 1957, serves as a vital platform for international trade. It provides a convenient contact point for companies looking to expand their trade with the Chinese mainland and establish meaningful partnerships. The fair spans approximately 1.55 million square meters and hosts 74,000 booths, focusing on advanced manufacturing, interior decoration, and lifestyle enhancements.
Guangzhou's rich history as a global trade hub dates back hundreds of years. As a key trading center, it was synonymous with China in European minds, especially when Europeans began their trade through the Pearl River Delta. Even before European contact, Guangzhou was integral to the maritime Silk Road network, facilitating trade between China, the rest of Asia, and as far as the Roman Empire.
This year, a unique feature of the fair is the significant increase in online participation. Approximately 48,000 businesses are participating virtually, marking a 60 percent increase from the previous fair held in April. Despite the rise in virtual attendance, the physical exhibition halls are bustling, underscoring the importance of face-to-face interactions in building economic prosperity.
Notably, more than 75 percent of the buyers are from partner countries of the Belt and Road Initiative, highlighting China's successful engagement with the Global South. For many foreign companies, the Chinese mainland represents their largest trading partner and a primary source of profits, emphasizing the mutual benefits of these deepening trade ties.
The Canton Fair continues to be more than just an exhibition; it's a bridge connecting global businesses to the dynamic markets of Asia. As the world looks towards a greener future, the fair stands at the forefront, paving the path for sustainable economic growth and international collaboration.
Reference(s):
cgtn.com
