Traders in BRI regions benefit from Canton Fair’s authoritative platform

Organizers continue to reach out for greater opportunities by forging ties with overseas associations
As one ofChina’s most authorita-tive and comprehensive platforms for foreign trade and opening-up, the China Import and Export Fair, or Canton Fair, has played a remarkable role in promoting the Belt and Road Initiative over the past eight years since the initia- tive was proposed by the Chinese government in 2013. At the 127th Canton Fair held in April last year, for instance, enter- prises from BRI regions accounted for 72 percent of the total number of exhibitors. Their exhibits took up 83 percent of the total number of exhibits. Canton Fair was launched in 1957, aiming to break the trade blockage imposed by Western pow-ers and gain access to supplies and foreign exchanges needed for the country’s development. Over the decades to follow, the Canton Fair has grown into a com-prehensive platform for China’s
international trade and economic globalization. It has stood as a wit- ness to China’s growing strength in foreign trade and economy. The country is now the second-largest economy in the world, and a leader
in and a crucial driving force for intermational trade. Chinese President Xi Jinping proposed the Silk Road Economic Belt and the 21st Century Mari-time Silk Road, or Belt and Road Initiative, in 2013. The initiative. was meant to offset the influence of the current trade unilateral-ism and protectionism, which is also identical with Canton Fair’s mission. As an important trade promo- tional platform and“a barometer of China’s foreign trade, Canton Fair plays an important part in Chi- na’s efforts in building a commu- nity with share future for mankind. By the 126th session in October 2019, the accumulative transac-tion volume at Canton Fair totaled $141 tillion and the total number of participating overseas buyers reached 8.99 million. Responding to pandemic con- trol, the recent three sessions of Canton Fair have been held online.The online fair has offered an effec-tive channel for businesses to iden-tifytradingopportunities, network and make deals in this difcult time of the COVID-19 outbreak. Canton Fair has been a firm sup-porter of the BRI and an important player in implementing the initia- tive. To date, Canton Fair has estab- lished partnership relations with 63 industrial and commerce organiztions in 39 counties and regions involved in the BRI. Throughthese partners, theCan- ton Fair organizers have strength- ened their fforts in promoting the fair in BRI regions. In the years to come, organizers said they will continue to intcgrate theCanton Fair’s online and ofline resources to ofetter opportuni- ties to participating enterprises.

Post time: Aug-14-2021