The 136th session of the China Import and Export Fair, popularly known as the Canton Fair, is set to open in Guangzhou on Tuesday, and 138,000 overseas buyers from 209 countries and regions have pre-registered for the event.
The fair will be held in Guangzhou in three phases between Oct. 15 and Nov. 4. This year, the fair has seen a significant surge in overseas buyer registrations, reflecting a 24 percent increase compared to the previous session.
Adding to this positive trend, 223 of the world's top 250 global retailers are expected to attend, many of which will participate in the form of delegation groups, showcasing the fair's growing influence in the international trade landscape.
Spanning an extensive 1.55 million square meters, the fair will feature 74,000 booths across 55 sections and 171 specialized zones. With preparations now finalized, organizers are poised to welcome participants from around the globe.
Aiming to strengthen international trade relations and promote economic cooperation, the Canton Fair is held in the spring and autumn seasons each year since the spring of 1957 in Guangzhou City, capital of south China's Guangdong Province, the country's economic powerhouse. It serves as a crucial platform for establishing new business partnerships, and is considered a major gauge of China's foreign trade.
136th Canton Fair set to open with pre-registration of 138,000 overseas buyers
136th Canton Fair set to open with 138,000 overseas buyers registered
Officials and business leaders from both China and the United States gathered in Berkeley, California on Friday to discuss the future of trade and investment between China and the San Francisco Bay Area, with many hoping to overcome the recent strain brought by the Trump administration's tariffs.
The China Council for the Promotion of International Trade hosted a business breakfast exchange meeting on Friday morning, with the council's chairman Ren Hongbin sending out a clear message of the vast economic potential which is there to be tapped into.
"The Chinese economy is very much innovation driven. And the strategic emerging industries, such as new energy, new materials, low carbon, aerospace, bio-pharmacy and the low-altitude economy, will generate a trillion-yuan level or even larger markets. So, I think that will provide enormous opportunities and room for China and U.S. companies to cooperate," said Ren.
He further stressed the China International Supply Chain Expo in Beijing as an example of an event where San Francisco Bay Area companies like NVIDIA and Apple were active participants and direct beneficiaries.
Meanwhile, Chinese Consul General in San Francisco Zhang Jianmin said that against the backdrop of a global economic slowdown, greater cooperation in the innovation sector is now more important than ever.
"The [San Francisco] Bay Area is home to many of the world's top tech companies and offers a sound innovation ecosystem. China has a super big market, rich application scenarios and a complete industrial supporting system. There exists tremendous potential for both sides to have more mutually beneficial cooperation by tapping into their complementary strengths," said Zhang.
Attendees did voice concerns over how the Trump administration's tariffs are impacting business.
With China accounting for nearly 30 percent of the Port of Oakland's total trade volume, the port's executive director Kristi McKenney stressed the need for greater stability and certainty.
"The tariffs in many cases were never actually implemented or were changed before they were implemented. So those linkages are a bit more challenging. I think the bigger issue will be certainty in the economy. And if there's lack of certainty, if we see economic difficulty, then you're going to see job losses," said McKenney.
Oakland's Mayor Barbara Lee said that it is very much business as usual, despite the recent difficulties.
"While we understand the challenges of tariffs, the exports and imports are still continuing, and our port is still a large containerized port doing business with China. And we're going to strengthen that relationship. We may have our differences on issues, on policies, but we here in Oakland understand that we're a global city and we believe the trade brings friendships, brings understanding, and also brings economic benefits to both countries," she said.
Chinese, US officials, business leaders meet in California to deepen mutual understanding
