China’s foreign trade will continue to grow in the months ahead as overseas demand for domestic products strengthens steadily, according to a spokesman for the country’s biggest trade event.
“More foreign buyers are expected to visit the Canton Fair as they look for innovative, quality products made in China,” fair spokesman Xu Bing said.
The Canton Fair, or China Import and Export Fair, which is widely regarded as a barometer of the country’s foreign trade, opened its autumn session on Sunday in Guangzhou, Guangdong province.
The number of foreign visitors has increased steadily in the last three sessions, Xu said.
“China’s trade has consolidated its upward trend this year as the country’s efforts to optimize its industrial and trade structure have gradually paid off,” he said.
According to the General Administration of Customs, China’s trade increased 16.6 percent year-on-year to 20.3 trillion yuan ($3.1 trillion) in the first three quarters.
Exports increased 12.4 percent to 11.2 trillion yuan, while imports surged 22.3 percent to 9.1 trillion yuan, dragging the trade surplus down by 17.7 percent to just over 2 trillion yuan.
The Canton Fair, which is held twice a year in spring and fall, will display some 160,000 products from 25,000 domestic companies, demonstrating China’s efforts to develop technology, brands, quality and service, Xu said.
Gree Electric Appliances, a major maker of home appliances based in Guangdong province, displayed more than 100 products, including home and commercial air conditioners, kitchen appliances, washing machines and mobile phones during the first phase of the fair.
“We are now developing from a manufacturer of air conditioners to a maker of more smart electric products,” said Wu Bin, assistant general manager of Gree.
Gree’s photovoltaic air conditioners and its solution for regional energy consumption are being displayed during the event and have been widely visited by foreign businesspeople.
The company has sold more than 5,000 photovoltaic air conditioners in 22 countries and regions in the Middle East, North America and Southeast Asia, Wu said.
Gree’s total sales in the first three quarters increased 20 percent year-on-year, the company said.
“Sales in countries and regions linked to the Belt and Road Initiative will increase in the months ahead, as demand there has grown steadily,” Wu said.
According to the fair’s organizers, the number of buyers and exhibitors from countries and regions related to the initiative has increased significantly in recent years.
A total of 341 companies from countries and regions along the trade routes will display their products during the fair, organizers said.
The organizers also signed cooperative agreements with 45 industrial and commercial organizations from 32 countries and regions to facilitate trade.
“As more top Chinese brands are introduced to overseas markets, manufacturing of quality products will be strengthened,” Wu said. “And a stronger overseas presence will help us improve quality and upgrade products.”
