Canton Fair Reveals Emerging Trends In Foreign Trade

The 134th Canton Fair, recognized as a barometer for China’s foreign trade performance, wrapped up on Saturday in Guangzhou, capital of south China’s Guangdong Province, showcasing new dynamics and vigor of the trade landscape.

This year’s fair has been particularly lively, attracting over 190,000 overseas buyers from 216 countries and regions, an increase of over 50 percent from last year, official data showed.

Among the participants, more than 120,000 national buyers come from the Belt and Road Initiative (BRI) participating countries, marking a 68.6 percent surge from the previous session.

Export transactions totaling $22.3 billion were inked, with the BRI participating countries accounting for more than half of these agreements.

Additionally, the fair’s international pavilion made a strong impression among participants. The three-phase exhibition showcased 650 exhibitors from 43 different nations and regions, with approximately around 60 percent representing the BRI participating countries.

Sustainable development: New trend in China’s foreign trade

Echoing global priorities, the focus on “sustainability” has emerged as the prevailing theme at this year’s Canton Fair.

“High-end intelligent, green, and low-carbon products have taken center stage, with a marked preference for innovative and creative offerings,” said Xu Bing, the Canton Fair spokesperson and deputy director general of the China Foreign Trade Center.

Xu noted that approximately 110,000 smart products and over 430,000 green and low-carbon items were on display.

These sectors mirror the broader trends in the nation’s foreign trade, with the so-termed “new three” products – namely electric vehicles, lithium batteries, and solar products — seeing a remarkable 41.7 percent growth in exports year on year, reaching nearly 798.99 billion yuan ($109 billion) in the first three quarters alone, according to the data from the State Council.

This surge is in line with China’s ambitions to push for comprehensive green transition, which is being bolstered by government policies that support innovation and sustainable development, and is increasingly positioning the country at the forefront of global renewable energy solutions.

The Canton Fair’s vibrant atmosphere is a testament to China’s commitment to high-level trade openness and its role as a global trade facilitator, injecting vitality into the international marketplace amidst efforts to recover from the economic downturn, according to Xu.