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136th Canton Fair sees large influx of exhibitors, buyers on day one

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136th Canton Fair sees large influx of exhibitors, buyers on day one

2024-10-15 22:12 Last Updated At:23:57

The 136th China Import and Export Fair, popularly known as the Canton Fair, has seen a substantial influx of exhibitors and buyers shortly after its official opening on Tuesday, who are actively exploring new business opportunities arising from a notable increase in new products compared to the previous edition.

Themed "Serving high-quality development, promoting high-level opening-up," this edition of the fair commenced in Guangzhou, the capital city of south China's Guangdong Province.

As of Monday, 241 out of the top 250 global retailers and leading multinationals came to participate in the fair, marking a substantial increase from the previous edition. The number of large buyers expected to attend this year's fair is projected to exceed 300 for the first time, setting a record in popularity.

When the fair officially opened at 9:00 on Tuesday morning, numerous exhibitors and buyers started arriving at the venue, with attendance peaking by noon.

The total exhibition area of this fair is 1.55 million square meters, with over 30,000 enterprises from home and abroad attending the event offline, including 4,600 first-time exhibitors, many of whom operate in the digital technology and smart manufacturing sectors. The growing presence of new enterprises at the fair indicates fresh business opportunities, orders, and markets.

Besides, the number of new products on display has reached 1.15 million, with the quantity of digital smart products specifically increasing threefold compared to the previous edition.

For example, in exhibition areas of smart life and intelligent manufacturing, a variety of smart devices and unmanned driving products are set to debut, while the new energy area has introduced a specialized section for hydrogen-related and energy storage products for the first time, demonstrating an enhanced focus on more intelligent and environmentally friendly exhibits.

Many large buyers had already released their procurement checklists before the opening of the fair, showing significant interest and a high demand for household appliances, especially smart home appliances and electronic products.

The three-week fair will be held in three phases. The first phase, running from Tuesday to Saturday, will introduce new topics such as hydrogen energy and feature a dedicated area for energy storage products, attracting over 110 new energy companies.

Launched in 1957 and held twice yearly, the Canton Fair is considered a major gauge of China's foreign trade.

136th Canton Fair sees large influx of exhibitors, buyers on day one

136th Canton Fair sees large influx of exhibitors, buyers on day one

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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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