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Source: China ForeignTrade Centre
The 127th Canton Fair hassuccessfully come to aclose digitally on June 24. Xu Bing, spokesperson of Canton Fair andDeputy Director General of China Foreign Trade Centre introduced the overall situation.
Xu stated that the centralgovernment highly valued this session; President Xi paid attention and PremierLi attended the virtual opening ceremony and visited online booths in Beijing.Under the strong leadership of the Ministry of Commerce and GuangdongProvincial Government, with the great support of various departments of thecentral government, local commerce departments and Chinese embassies abroad,and concerted efforts of all the staff, the 127th Canton Fair has been carriedout smoothly.
Xu said that it was abrand new attempt and arduous task to host the Fair online, which required newcontent in a short period of time. Since early April, the organizers have showna great sense of responsibility and fulfilled their duty in building a new platform,organizing exhibitors, marketing and services. They have demonstrated withtheir actions the Canton Fair spirit “true to the mission, brave for openingup, persistent and innovative”. The first virtual Canton Fair broke the limitof time and space for Chinese and international companies to conduct tradecooperation, blazed a new path of international trade development and madegreat contributions to stabilizing the fundamentals of foreign trade andinvestment. It showed the international community China’s resolution to expandopening up and safeguard the security of global supply and industrial chain,and China’s responsibility to respond to the pandemic and advance themultilateral trading system.
Xu introduced that the Canton Fair virtual platform hasoperated smoothly. The five parts of Exhibitors and Exhibits, News andEvents, Global Trade Matchmaking, Services, Cross-border E-commerce, have madeup a grand show for exhibitors and buyers worldwide.
New products and new technology attracted worldwideattention. A great number of world’sfirst and Canton Fair’s first have refreshed the world’s understanding ofMade-in-China and Chinese brands. Nearly 26,000 domestic and overseasexhibitors uploaded numerous products in text, picture, video and 3D format,showing more smart, high-tech products and those with self marketing andself-owned IP and brands. The feast of products attracted global buyers toattend.
Live streaming marketing was popular and widely participated. The live streaming room launched in this session broke thelimit of time and space and enhanced interacting experience. Exhibitors eagerlytook part: some devised individualized plans for different markets and stageddozens of live shows; some displayed product and company in VR and broadcastedtheir automatic production line. Some designed live streaming according to US,Europe, Asia Pacific and Middle East and Africa time zones and their clientlocations, to receive worldwide buyers.
Online trade matchmaking was smart and efficient. Based on the demands of buyers, and exhibitor and exhibitinformation, digital technology has been leveraged in this Canton Fair to builda smart and efficient supplier and buyer matchmaking system. Overseas buyerscan schedule negotiation appointment, initiate instant messaging or postsourcing request. Meanwhile, the trade negotiation environment of mutual trustof the physical exhibition has been duplicated to enhance both parties’ trustand negotiating and sourcing efficiency, which was applauded by buyers.
Various supporting activities were held during this session, including 24 Promotion on Cloud eventsfor global buyers, 5 virtual signing ceremony of trade contracts, and 64product launch activities by 58 leading enterprises of 20 trading delegations.Sourcing briefing event held for JD.com, Yeation and Suning.com provided achannel of domestic trade. Customs authorities staged policy informationsharing to provide professional insight. The Canton Fair Product Design andTrade Promotion Center (PDC) organized 13 events, including virtual lecturesand live streaming as well as 20 virtual fashion shows of 30 brands. The CFAwards launched a virtual exhibition hall for winning exhibitors to displayproducts.
Services were reshaped and integrated. 8 financial institutions of the Financial Services customizedexclusive products with higher line of credit, lower settlement rate and moreconvenient financing channel. An online-offline integrated complaint handlingmodel was built to ensure the protection of IPR. China’s 105 Cross-borderE-commerce Comprehensive Pilot Zones displayed the vigor of cross-bordere-commerce development. 6 cross-border e-commerce platforms linked to CantonFair’s website received wide attention and visits.
Result met expectations. Against the background of the spreading pandemic, greaterrisk of global economic downturn and severely battered global trade, the 127thCanton Fair attracted buyers from 217 countries and regions to register, arecord high of buyer source, further optimizing global market mix. Many foreigntrade enterprises showed their products, plants and prototypes inlivestreaming, attracted worldwide visitors, received inquiries and sourcingrequests and achieved good results. They said that this Canton Fair, a godsendfor exhibitors in need of orders, helped them maintain old customers and knownew ones and that they would follow up with buyers to strive for more tradeoutcomes.
Companies were encouraged to sell export goods in thedomestic market. Tobetter serve the new pattern of mutually reinforcing domestic and internationalcycle, and to implement the State Council’s decision to enhance domestic salesof export goods, invitation of domestic buyers was greatly enhanced andregistration and attendance of domestic buyer surged compared to the previoussession.
Xu mentioned that thisCanton Fair has received worldwide press attention. Centered on innovativemeasures of the virtual exhibition, various media produced well-designed andmulti-dimensional reports, creating a positive public opinion atmosphere. Helooked forward to meeting everyone in the 128th Canton Fair.
