The autumn session of the Canton Fair opened in Guangzhou, where at the opening ceremony Premier Li Qiang defended China’s role in global trade and invited foreign firms to invest in the country. He said that China stands ready to import more high-quality goods, particularly high-value-added products, as part of efforts to promote more balanced trade. The nearly three-week-long event welcomed more than 32,000 exhibitors and 210,000 overseas buyers.
“International trade is not merely figures on a ledger, but a voluntary choice to enhance well-being,” Li said during the keynote speech. “As both a ‘super seller’ and a ‘super buyer’, China delivers predominantly ‘neighbor-benefiting’ and ‘neighbor-enriching’ positive spillovers to all partners,” he added. His remarks came as China’s growing trade surplus faces heightened scrutiny from Western nations, whose officials have warned about the risk of deindustrialisation in pillar sectors. Premier Li said market connectivity should not be treated as a “bargaining chip” in geopolitical contests, but as an effective way to generate economic growth. The Premier also met about 70 business leaders from 30 countries and regions at a business round table held on the sidelines of the trade fair.
This year marks the 70th anniversary of the Canton Fair. From its inaugural session of just 9,600 square meters and 1,200 buyers in April 1957 to today's 1.55 million square meters and around 340,000 buyers, the fair has been held without interruption for 140 sessions. It serves as the most tangible proof of China's long-term commitment to opening-up. In 2007, at its 101st session, the Canton Fair was officially renamed the China Import and Export Fair, changing from its designation as the Chinese Export Commodities Exhibition. That was when it introduced an import section for the first time, shifting from a one-way export platform to two-way trade one. The fair later grew into an important platform for international trade cooperation. To date, the total number of overseas buyers attending the Canton Fair onsite and online has exceeded 10 million.
In 2021, the Canton Fair was held both online and offline for the first time, fully opening to domestic buyers to help foreign exhibitors explore the Chinese market. The import section has continued to expand, with more than 1,7000 companies from over 100 countries and regions participating, including Fortune 500 companies. Apart from providing a platform, the Canton Fair epitomizes how China's products, technologies and services are enabling global suppliers to upgrade and become more intelligent, the China Daily and the Global Times report..
