SOURCE / ECONOMY
Canton Fair exhibitors explore markets in BRI partner countries
Published: Oct 25, 2023 09:00 PM
A customer browses goods at the Canton Fair on October 25, 2023. Photo: Qi Xijia/GT

A customer browses goods at the Canton Fair on October 25, 2023. Photo: Qi Xijia/GT


Chinese enterprises have actively explored markets in Belt and Road Initiative (BRI) partner countries in the 134th session of the China Import and Export Fair, also known as the Canton Fair, as the event has become an important platform for China and other countries to achieve win-win results.

"We are surprised to see a significant influx of people from BRI partner countries this year. Currently, almost 80-90 percent of the business cards we collected are from BRI partner countries," Zhou Sisi, a business representative from Lanxi Duntou Brush Co, told the Global Times on Wednesday. The company mainly manufactures brushes and paint rollers for households.

"Customers from BRI countries represent a market we aim to tap into, especially amid shrinking European and US demand," Zhou noted.

"We plan to make some adjustments specifically targeting these customers. While retaining our high-end products for European and US clients, next year we will bring some low-priced, high-value samples to the Canton Fair for new customers to try out," Zhou said.

At a booth in the Canton Fair, two customers from Saudi Arabia picked up a candlestick and were immediately captivated by its intricate patterns. They left their business cards behind, showing a strong interest in the product.

The booth showcased some dazzling and luxurious decorations tailor-made for the Middle Eastern market, which values elegance and opulence, Xu Yajie, foreign trade manager of Guangdong Sitong Group, a household ceramics supplier, told the Global Times on Wednesday.

"In the past few days, we have received numerous visitors from countries participating in the BRI, such as Russia, Pakistan, Iran and the UAE. They have a strong intention to place orders, reflecting their confidence in collaborating with China," Xu said.

The development of the BRI brings more customers while facilitating transportation and payment terms, Xu said.

"We have noticed an increasing number of customers opting to pay in yuan, which is convenient for both parties," Xu said.

The latest session of the Canton Fair, which opened on October 15 and will run until November 4, has also set a new record for scale. The total exhibition area has expanded to 1.55 million square meters, an increase of 50,000 square meters compared with the previous session. There are 74,000 booths, with 28,533 exhibiting companies.

As of 5 pm on Wednesday, the cumulative number of overseas buyers reached about 150,000 people from 214 countries and regions, with the number of attendees up more than 50 percent from the same period of the previous session, the Canton Fair organizers told the Global Times.

Buyers from BRI partner countries have actively participated in the fair, with the proportion of relevant attendees increasing from 50.4 percent to 58.1 percent over the past decade, according to a report by the Xinhua News Agency.

At the same time, BRI partner countries have been actively exploring the Chinese market. In the second phase of the Canton Fair, which lasts from Monday to Friday, 110 enterprises from 17 BRI partner countries including Egypt, Malaysia and Vietnam are participating, focusing on the display of home furnishings, kitchen items, building materials and other specialty products.

"I first attended the Canton Fair about 15 years ago," Boonyarid Phayuhaphaisal, CEO of Korat Sangsuwan Pottery, a Thai ceramics manufacturer, said in an interview with Yangcheng Evening News.

Compared with more than a decade ago, Thailand's exports to China are growing, with ceramics manufacturing products maintaining annual growth of 5-10 percent, "so we want to further expand the Chinese market through the Canton Fair," he said.