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Innovation-driven products attract global purchasers at Canton Fair

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Innovation-driven products attract global purchasers at Canton Fair

2024-04-19 18:45 Last Updated At:04-20 03:59

New products and techniques driven by innovation have attracted the attention of global purchasers at the 135th session of the China Import and Export Fair, also known as the Canton Fair.

Friday is the last day of the first phase of Canton Fair.

Since its opening on Monday, the fair has drawn more than 120,000 overseas purchasers as of Thursday, up 22.7 percent compared to that of the last session.

They come from 212 countries and regions around the world.

Many big purchasers come to the event in groups, with some of the groups having over 100 members.

This is because each market segment needs their own buyers as consumers in different region have their own preferences.

The products driven by innovation are the ones most welcomed by a lot of purchasers at the Canton Fair.

In the first phase, there are a total of 9,300 mechatronic enterprises participating, taking up more than 85 percent of the total.

Some of them have showcased their latest products which are equipped with advanced technologies like the AI and big data.

With Canton Fair as a bridge, Chinese firms are able to take part in global industrial chain more closely. The platform has also helped plenty of countries, especially the developing ones, to achieve industrialization.

Scheduled to run until May 5, the fair will start its second phase on April 23, focusing on household items, gifts, decoration and furniture.

Launched in 1957 and held twice yearly, the fair in Guangzhou City of south China's Guangdong Province is considered a major gauge of China's foreign trade.

Innovation-driven products attract global purchasers at Canton Fair

Innovation-driven products attract global purchasers at Canton Fair

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US Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation ticks up

2024-05-02 10:30 Last Updated At:11:17

The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to pick up.

For now, the Fed has kept their benchmark rate unchanged for a sixth straight time since September last year.

The central bank's latest decision came just a few days after the Commerce Department reported on Friday that the U.S. personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure, ticked up to 2.7 percent in March.

Amid stubborn inflation that shows no sign of abating, U.S. gross domestic product (GDP) growth slowed significantly to an annual rate of 1.6 percent in the first quarter, marking a sharp drop from the 3.4 percent in the fourth quarter, according to data released last week.

In addition, data released by the U.S. Department of Labor showed that the U.S. consumer price index (CPI), a key inflation gauge, rose 3.5 percent in March, up 0.3 percent from February, higher than expectations and marking an acceleration for inflation.

US Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation ticks up

US Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation ticks up

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