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Guangzhou implements measures to better serve Canton Fair

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Guangzhou implements measures to better serve Canton Fair

2024-10-15 22:12 Last Updated At:10-16 00:07

As the 136th China Import and Export Fair, commonly known as the Canton Fair, started on Tuesday, the host city Guangzhou in south China's Guangdong Province is rolling out a series of convenience measures aimed at enhancing the experience of exhibitors, buyers, and tourists.

With an influx of participants from around the globe, Guangzhou Baiyun International Airport has reached a peak in passenger and cargo arrivals. The airport serves as a primary entry point for international business attendees, and during this period, it is expected to maintain high traffic levels.

To streamline the arrival process, border inspection authorities have established several dedicated channels for the Canton Fair and set up service teams proficient in 13 languages, including English, German, Arabic, and Vietnamese. These teams of professionals offer interpretation and guide services to facilitate smoother entry of foreign visitors.

On a typical day, the airport sees around 40,000 travelers, but during the fair, this number is projected to rise to approximately 44,000 daily, with peak days potentially exceeding 46,000. Furthermore, the airport is expected to handle over 300 flights daily during the event.

Notably, the fair has simplified the visa application process. Participants can apply for visas using invitation letters obtained from the official Canton Fair website. For those who are unable to secure a visa in time, border inspection station at the airport offers expedited services for eligible travelers under the 144-hour visa-free transit policy, allowing them to stay in Guangdong for up to six days.

The Canton Fair has also stimulated demands for accommodation and transportation in the surrounding areas.

At the Pazhou subway station near the fair venue, new directional signages have been installed, along with a comprehensive service area offering consultation, language interpretation, and ticketing assistance. During peak travel times, Guangzhou Metro has increased the number of trains running on key lines.

"Special timetables and high-capacity schedules have been implemented on key lines, with Line 8 having the number of trains in operation increased to 43. Additionally, Guangzhou Metro will closely monitor passenger flow and, during peak exit times or unexpected surges in crowds, will make temporary adjustments by deploying backup trains and organizing the timely release of empty trains to facilitate passenger dispersal," said Hu Yanan, deputy station manager.

Hotels in popular districts surrounding the fair venue are experiencing high booking rates, with many offering shuttle buses and remote processing points for documentation. This allows buyers to complete necessary paperwork at their hotels before taking shuttles to the fair venue.

Additionally, Guangzhou is enhancing public transport and rideshare options, along with organizing business travel activities, to ensure sound services for both international and domestic attendees.

This edition of Canton fair is being held in Guangzhou in three phases between Oct 15 and Nov 4, and includes 55 exhibition areas covering 1.55 million square meters. Over 30,000 enterprises from home and abroad will be in physical attendance at the fair.

Guangzhou implements measures to better serve Canton Fair

Guangzhou implements measures to better serve Canton Fair

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US Fed's 25 basis point cut aligns with market expectations: expert

2024-11-09 07:21 Last Updated At:08:17

The U.S. Federal Reserve's 25 basis point cut on Thursday aligns with market expectations, said Li Fuyi, associate researcher at Institute for Foreign Economic Studies under the Academy of Macroeconomic Research.

The Fed on Thursday slashed interest rates by 25 basis points amid cooling inflation and a weakening labor market, marking the second rate cut in this easing cycle.

Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low. Inflation has made progress toward the Committee's 2 percent objective but remains somewhat elevated, the Federal Open Market Committee (FOMC), the central bank's policy-setting body, said in a statement.

"From a policy perspective, the 50 basis point cut in September was a more precautionary move, aimed at preventing the policy from lagging too far behind developments. Moving forward, the rate cuts should slow and follow a more gradual pace, allowing enough room for policy adjustments. The Fed would lower rates by another 50 basis points by the end of the year, so the November 25 basis point cut aligns with market expectations. In terms of economic data, Fed policy mainly responds to changes in employment and inflation," Li explained the interest rate cut.

"Currently, U.S. inflation is gradually approaching the Fed's 2 percent objective. For instance, the initial core PCE figure for the third quarter was 2.2 percent. At the same time, the labor market is roughly in line with the Fed's full employment target range. In this situation, there is no urgent need for a major rate cut. A moderate rate cut also avoids overly pessimistic market interpretations of the current economic situation. This approach is an optimal solution for the Fed's delicate balance between curbing inflation and avoiding economic cooling," she said.

US Fed's 25 basis point cut aligns with market expectations: expert

US Fed's 25 basis point cut aligns with market expectations: expert

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