The Canton Fair to embrace international trade and cooperation

By Liu Chunsheng

The 133rd Canton Fair opens on April 15, 2023. The Canton Fair, also known as the China Import and Export Fair, plays a vital role in China's foreign trade. Since its inception in 1957, the fair has become an essential platform for promoting China's imports and exports, attracting foreign investment, and promoting international trade and cooperation.

The Canton Fair is a comprehensive trade fair that features thousands of exhibitors from various industries. It is open to both domestic and international buyers and sellers, making it a crucial avenue for global trade. The fair attracts a vast number of attendees every year, with over 200,000 buyers and sellers from over 200 countries attending the fair.

One of the key roles of the Canton Fair in China's foreign trade is to promote imports and exports. The fair provides Chinese importers with access to multinational suppliers and exporters with a platform to showcase their products to a global audience. This aspect of the fair has helped to increase the country's share of the global market. The Canton Fair offers buyers the opportunity to source products directly from Chinese manufacturers, cutting out middlemen and reducing costs, which make it an essential platform for small and medium-sized businesses looking to import products from China.

For domestic small and medium-sized enterprises, participating in the Canton Fair can be an excellent opportunity to build brand awareness, expand their customer base, and generate new business leads. They can meet potential partners and customers, explore new markets, and learn about the latest industry trends and developments.

Moreover, the Canton Fair provides small and medium-sized enterprises with a level playing field to compete with larger companies on a global stage. It is a great opportunity for them to showcase their quality products and services, which can help them gain recognition and establish their brand in the international market.

The Canton Fair also plays a critical role in attracting foreign investment to China. The fair provides foreign investors with an opportunity to learn about the country's business environment, meet with potential partners and suppliers, and explore investment opportunities which has helped to attract foreign investment to China, contributing to the country's economic growth and development.

Liu Chunsheng is an associate professor at the Beijing-based Central University of Finance and Economics.