Canton Fair to help global firms expand market, drive trade amid pandemic: official

Source:Global Times Published: 2020/6/10 12:00:35

Photo taken on Oct. 23, 2019 shows Christmas ornaments during the 126th China Import and Export Fair, also known as the Canton Fair, in Guangzhou, capital of south China's Guangdong Province. The fair features three phases. The second, from Oct. 23 to 27, will show consumer goods, decorations and gifts. (Xinhua/Deng Hua)

The Canton Fair, a barometer for China's foreign trade which has been held for the past 63 years, will kick off online for the first time on Monday amid the COVID-19 pandemic.

Officials said that showed the country's efforts to help global firms expand markets and stabilize trade growth in China, which has taken a hit from the virus.

This year's Canton Fair will be held online from Monday to June 24 and will waive exhibition fees for domestic and foreign firms to help them cope with the virus impact.

Holding the fair online aims to maintain the stabilized growth of China's foreign trade and help exhibitors hedge the impact of the pandemic, Li Jinqi, an official with the Ministry of Commerce, told a press conference.

This year, the Canton Fair has set up 50 virtual exhibition zones and is providing 24-hour online supply and purchase services, Li said, noting that exhibitors could upload pictures and videos introducing their products on the platform.

"The number of products uploaded for display by companies is more than expected," he said.

"We have increased invitations to buyers from countries and regions along the Belt and Road Initiative (BRI) routes and also to members of the Association of Southeast Asian Nations," Zheng Jianrong, Director-General of the Department of Commerce of South China's Guangdong Province, told the same press conference.

This year's Canton Fair will continue to drive trade cooperation between China and BRI markets to a new stage, Li noted.

Li said purchasers from BRI markets have accounted for 45 percent of total buyers at the annual event in recent years, and that figure is likely to grow.

Posted in: ECONOMY

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