Electric tricycles have become an unexpected crowd-puller at the ongoing 140th China Import and Export Fair, also known as the Canton Fair, drawing global buyers with their flexibility and affordability as Chinese manufacturers adapt the utility vehicles for international markets.
The three-wheeled electric vehicles have transformed from a down-to-earth Chinese product into a hot item at the exhibition halls, drawing interest from overseas buyers and opening a new track for small and medium-sized enterprises seeking foreign trade opportunities.
One Guangdong-based company has taken part in the Canton Fair for more than 20 consecutive years. This time, it brings not only new products but also customized technologies tailored to the characteristics of different regions and markets. Over the past few days, the company has received nearly 100 buyers from North America and Africa.
"We cater to some customized needs of the market. For example, the new three-wheeled vehicle product we see behind us — we make some localized product improvements and modifications based on the characteristics of our market. At the same time, in terms of product research and development, we have invested in a lot of reserved technologies and products, also to make reserves for competing for our future export markets," said Bie Libo, an exhibitor.
Many companies are carrying out refined iterations for road conditions and usage scenarios in different regions, aligning everything from body size, power mode, and range to safety features and exterior design with local overseas needs.
"I feel this vehicle is very novel. I am from Malaysia. This is my first time at the Canton Fair. There are many people here, and the products are quite rich. It's very novel and very special," said Liew Mee Mui, Malaysian purchaser.
The 140th Canton Fair is running in three phases in south China's Guangzhou City from Oct 15 to Nov 4.
Over the past 70 years, the Canton Fair has grown into China's largest and longest-running international trade event, with the most complete product range, the largest number of buyers and the highest transaction volume.
Electric tricycles become Canton Fair hit, opening new export track
Electric tricycles become Canton Fair hit, opening new export track
China's economy maintained overall stability and kept major economic indicators within the expected target ranges in the first three quarters of this year, with experts highlighting its strong resilience driven by emerging new momentum and new quality productive forces.
An expert from the National Development and Reform Commission (NDRC) said the latest figures showed an economy that has withstood pressure and maintained overall stability, while new quality productive forces and new growth drivers are growing rapidly.
"In the first three quarters of this year, China's economy forged ahead despite pressures and maintained overall stability, with major economic indicators remaining within the expected target ranges. It showed a development trend marked by growing new growth drivers, improved structure, and better quality and efficiency, demonstrating strong resilience. New quality productive forces and new growth drivers, represented by high-tech manufacturing, modern services, and the intelligent economy, grew rapidly, showing features of fast growth, strong investment, high efficiency, and a sound market, and forming a virtuous cycle from production and investment to exports and consumption," said Huang Hanquan, director of the Macroeconomic Research Institute under the NDRC.
A researcher pointed out that steady growth in manufacturing and exports had anchored the macroeconomy, while high-tech industries showed robust supply and demand.
"Sectors like manufacturing and exports have played a powerful supporting role in ensuring the stable operation of the macroeconomy. Furthermore, new quality productive forces are being cultivated at an accelerated pace, with high-tech manufacturing and industries showing robust momentum in both supply and demand," said Wei Qijia, a researcher at the State Information Center under the NDRC.
In addition, the rapid adoption of cutting-edge technologies like AI, along with growing capital investment, are shaping the future industrial landscape ahead of time, said a scholar.
"The adoption rate of AI among manufacturing enterprises above the designated size has exceeded 30 percent. In the third quarter, capital investment in fields such as AI and humanoid robots expanded 1.8-fold year on year. These research and development investments are shaping the future industrial landscape ahead of time," said Wei Chu, dean of the School of Applied Economics at Renmin University of China.
Chinese economy demonstrates resilience, optimization in first three quarters: experts
