Canton Fair hosts over 760 trade promotion events as of Monday

The 139th China Import and Export Fair, or the Canton Fair, in south China's Guangzhou City had hosted a total of over 760 trade promotion events as of Monday.

These included 38 buyer-supplier matching sessions, which attracted 126 buyers and 510 suppliers to participate in the one-on-one matchmaking and negotiations.

There were also 665 new product launch events, with the number of new products increasing by 29.3 percent compared to the previous edition.

The ongoing Canton Fair, running from April 15 to May 5, has attracted legions of overseas business delegations, building an efficient bridge for cooperation between Chinese and foreign enterprises and helping them explore business opportunities.

Anwar Hamed Al Sinani, a chamber of commerce representative from Oman, has been attending the Canton Fair for four years.

This time, he led a delegation of more than 20 cross-industry buyers to the fair to seek business opportunities in categories such as auto parts, construction materials, and apparel.

"Every year we are coming here because every year and every session of the fair, there's something different, something new. And every day there is something new in China, so we have to follow up," he said.

Ghassan Hamad Al-Maamari, another member of the Omani business delegation, is attending the Canton Fair for the first time. He has been deeply impressed by the efficient procurement model here.

"So coming directly will utterly reduce our price, because now when we buy most of these products, [we buy] from suppliers that are local," he said.

For overseas buyers who are unable to attend in person, the fair has introduced innovative online service models.

Through dedicated live-streamed supply-and-demand sessions and the distribution of short videos showcasing product selection, the fair has created new online trade service channels.

As of Monday, the current Canton Fair had attracted a total of 154 overseas business delegations, a 10-percent increase year on year.

This year's fair is being held in three offline phases in Guangzhou, south China's Guangdong Province, and will conclude on Tuesday.

Established in 1957, the Canton Fair takes place twice a year in Guangzhou. It is the longest-running of several comprehensive international trade events in China, and it has been hailed as the barometer of China's foreign trade.

Canton Fair hosts over 760 trade promotion events as of Monday

U.S. stocks ended lower on Monday as renewed tensions in the Middle East rattled investors and a competitive shift in the shipping industry weighed heavily on the broader market.

The Dow Jones Industrial Average fell by 557.37 points, or 1.13 percent, to 48,941.90. The S&P 500 sank 29.37 points, or 0.41 percent, to 7,200.75. The Nasdaq Composite Index shed 46.64 points, or 0.19 percent, to 25,067.80.

Ten of the 11 primary S&P 500 sectors ended in the red, with materials and industrials leading the laggards by losing 1.57 percent and 1.17 percent, respectively. Meanwhile, energy bucked the trend by rising 0.85 percent.

Markets slide into negative territory following reports that two Iranian strikes hit a U.S. patrol boat and a U.S. warship was forced to turn back in the Strait of Hormuz.

While the U.S. officially denied the reports from Iranian media outlets, geopolitical anxieties worsened after the United Arab Emirates (UAE) reported that both an oil tanker operated by the Abu Dhabi National Oil Company and the Fujairah export terminal had been struck.

On the macroeconomic front, U.S. factory orders for March came in higher than expected, largely spurred by soaring demand for electronic components that underpin artificial intelligence technology. According to data released by the Commercial Department on Monday, factory orders rose 1.5 percent for the month, marking the largest increase since November.

In corporate developments, the logistics sector emerged as a major sore spot after Amazon announced plans to open its proprietary freight, distribution, fulfillment, and parcel shipping network to outside businesses. The move sent shockwaves through the shipping industry, causing GXO Logistics to drop 17.7 percent, while UPS and FedEx declined 10.47 percent and 9.44 percent, respectively.

Looking ahead, Wall Street is bracing for a busy week of corporate earnings, highlighted by results from major semiconductor manufacturers such as Lattice Semiconductor, Advanced Micro Devices, and Arm Holdings. Investors are also closely anticipating reports from Palantir and Paramount Skydance later in the week.

U.S. stocks finish lower amid renewed Middle East tensions