Canton Fair Welcomes Many Buyers, Sellers From Countries Along BRI, Organizer Says
Song Jie
DATE:  Oct 19 2023
/ SOURCE:  Yicai
Canton Fair Welcomes Many Buyers, Sellers From Countries Along BRI, Organizer Says Canton Fair Welcomes Many Buyers, Sellers From Countries Along BRI, Organizer Says

(Yicai) Oct. 19 -- This year’s second round of the bi-annual Canton Fair has attracted many participants from member countries of the Belt and Road Initiative, with the scale of the event setting a new record, according to the organizer’s deputy director.

The trade fair has 1,550 import exhibitions and 650 exhibitors from 43 countries and regions, of which 60 percent are from countries along the BRI, as well as 72,000 export exhibitions and 27,883 exhibitors, Xu Bing said at a press conference yesterday. Overseas buyers tally 98,000, with many also coming from BRI countries, he added.

The Chinese and overseas businesses taking part in the trade fair, which is being held at the China Import and Export Fair Complex in Pazhou, Guangzhou between Oct. 15 and Nov. 4, are showcasing a wide range of products, including electronics, machinery, textiles, clothing, home appliances, construction materials, and much more.

Most export orders received by Bozhon Precision Industry Technology, a Chinese supplier of automation equipment, are from countries along the BRI, a representative noted. The Suzhou-based firm has opened branches in Türkiye, Vietnam, Singapore, and other countries, and its new energy products, including charging and swapping power stations, cutting and stacking machines, and liquid injection machines, are welcomed in these markets, the person added.

Based on preliminary figures, Inbot Technology's annual export volume to markets of countries along the BRI was CNY50 million to CNY60 million (USD6.8 million to USD8.2 million), with those to East Asian countries accounting for more than half, the provider of welcome service robots for the Canton Fair Consulting Office said. 

Countries jointly developing the BRI will become important export markets for the Guangzhou-based company’s robot products, it added.

The BRI, which has just marked its 10th anniversary, is a massive infrastructure project aimed at enhancing trade and connectivity between China, Europe, and other regions.

The import and export volume of mechanical and electrical products between China and countries and regions jointly developing the BRI grew to USD831.3 billion last year from USD386.4 billion in 2013, data by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products showed.

The average annual growth rate was 8.9 percent over the period, and the share of China's total trade in goods rose to 40 percent from 37 percent, according to the chamber’s figures.

Editor: Martin Kadiev

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Keywords:   Canton Fair,the Belt and Road Initiative