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The 128th virtual Canton Fair cameto a close on October 24. Xu Bing, Spokesperson of Canton Fair and DeputyDirector General of China Foreign Trade Centre introduced the overallsituation.
Xu said that guided by Xi Jinping Thought onSocialism with Chinese Characteristics for a New Era, we carried out thepolicies and deployments made at the State Council. Under the strong leadershipof the Ministry of Commerce of PRC and Guangdong Provincial Government, with thegreat support of various departments of the central government, local commercedepartments and Chinese embassies abroad, and concerted efforts of all thestaff, the 128th Canton Fair had operated smoothly with expectedresults achieved.
Xu stated that as the COVID-19 pandemic isstill spreading around the globe, the world economy is in deep recession andcountries are facing an arduous task of fighting against the pandemic,stabilizing the economy and ensuring people’s livelihood. Hosting the 128thCanton Fair online has not only made due contributions to stabilizing foreigntrade and investment, but also demonstrated China’s actions in safeguarding thesmooth international industrial and supply chain and the responsibility as agreat nation to inject new impetus into the world economic recovery.
Xu introduced that the Canton Fair virtual platform had operated smoothly. The followingcolumns were set up on the platform, including Exhibitors and Products, GlobalBusiness Matchmaking, VR Exhibition Hall, Exhibitors On Live, News and Events,Services and Support, Cross-border E-commerce Zone. We integrated functions ofonline exhibiting, marketing and promotion, business matchmaking and onlinenegotiation to build a trading bridge breaking the limit of time and space forglobal buyers. As of October 24, the cumulative number of official websitevisits reached 51.17 million. This session featured stronger functions, morequality services and better experience. We improved the website in registrationsimplification, search engine optimization, business matchmaking facilitation;and strengthened interaction and smart services to create the offline tradingenvironment. Moreover, the quantity and quality of products displayed wasgreatly lifted. As buyers could register more conveniently and suppliers andbuyers communicate more smoothly, we had better achieved the goal of “register,find products, conduct successful negotiations”; both exhibitors and buyers hadspoken highly of the platform. The official website operated smoothly sincelaunched. With the strong network security assurance, there was no incident ofthe network information security.
More new products and technologies were displayed. Nearly 26,000 exhibitors showed theirproducts and there were a large number of products with innovations on design,function, material and techniques. Enterprises competed and achievedtransformation with innovations, which fully demonstrated that China’s foreigntrade enterprises stuck to high quality development and held a positiveattitude towards quality improvement. Over 2.47 million products were uploaded,up by 350,000 compared with that of the 127th Canton Fair. Based onthe data we collected, there were 730,000 new products, 130,000 more than thelast session and 100,000 smart products, 20,000 more than the previous session.The number of products with self marketing and self-owned IP and brands saw acontinuous growth. 346 overseas enterprises from 30 countries and regionsuploaded over 8500 products. The feast of products attracted global buyers toattend. There were 7.89 million visits on virtual exhibition halls, including7.83 million cumulative visits that of National Pavilion and 66,200 visits onthat of the International Pavilion.
The Fair facilitated digital transformation of enterprises. Powered by Internet, big data, cloudcomputing, AI technology, the 128th Canton Fair supported exhibitorsto participate through pictures, texts, and video and in 3D and VR format. Weoptimized the ranking rule of live stream rooms and encouraged exhibitors toimprove their live streaming. Companies made elaborate preparations inequipment, anchor, language, product and time, tailored individualized livestreaming program for different markets. In total there were 284,800 livestreams on the website, attracting 1.89 million views. We also set up virtualexhibition halls according product themes and displayed all the VR boothstogether, creating an immersive experience for attendees. 2046 exhibitorsdesigned and uploaded VR booths, with over 163,200 visits.
Supplier buyer trade matchmaking was carried out in an efficient andtargeted manner. We improved thetrade matchmaking process, simplified distribution of sourcing request, andenabled exhibitors to contact buyers under their sourcing request to advancesupplier buyer interaction. We added a message function to help exhibitorsseize opportunities in time. Also the newly developed name card function wasconvenient and pragmatic, helping companies to acquire buyer information.Website users sent 186,800 name cards in total.
Events during the Fair created more value to attendees. During this session, we held a series ofquality supporting events, which had enriched the Fair and created more valueto attendees. 38 "Promotion on Cloud" and virtual matchmaking wereheld in 37 countries and regions. We signed cooperation agreements withAlexandria Business Association of Egypt, Lebanon’s Chamber of Commerce,Industry and Agriculture of Zahle and Bekaa, Lagos Chamber of Commerce andIndustry of Nigeria, Tanzania Private Sector Foundation, Minsk Branch of theBelarusian Chamber of Commerce and Industry, and Chamber of Commerce andIndustry of the Tajikistan Republic, further expanding Canton Fair's"circle of friends". We held Canton Fair's first dual circulationpromotion event, facilitating foreign trade companies to explore domesticmarket; many exhibitors gave positive feedback. 105 brand exhibitors from 23trading delegations staged 120 product release activities, with the number ofexhibitors increasing by 80% over the last session and that of activitiesdoubled. The 2020 CF Awards received 1966 applications from 932 companies, ayear-on-year increase of 27% and 35% respectively; the final review shortlisted131 winning products from 91 companies. The Canton Fair Product Design andTrade Promotion Centre (PDC) organized, both online and offline, design show,design forum, trade matchmaking, fashion live show etc, with the participationof nearly 80 design institutions from 10 countries and regions and the numberof design institutions went up by 73%. We also co-hosted financing event withBank of China, to solve financing difficulty for SMEs and foster theiroperation and development.
Various supporting services were provided. The 128th Canton Fair hasestablished an online-offline merged model to deal with complaints, so as toensure IPR protection. 136 exhibitors were filed in IPR complaints, and 1enterprise was determined as constituting alleged infringement.8 financial institutions of the Financial Services Section customized exclusiveproducts for exhibitors. The Section was visited 95,588 times, offering 1,288loans, and handling 80,939 cases of settlement. Customs services, together withnew business services such as logistics, inspection, and certification wereprovided. We set up the Cross-Border E-commerce Zone and held activities themed“Same Tune, Shared View”. China’s 105 Cross-Border Comprehensive E-CommercePilot Zones were presented to the world. We connected with 4 cross-bordere-commerce platforms, namely Made in China.com, DH gate.com, okorder.com,ChemNet.com via links so as to benefit more enterprises. A multi-media,omni-channel customer service system, which included AI intelligent customerservice and online human customer service staff, has operated round-the-clockto answer questions in multi-languages, providing intelligent and efficientservices for buyers. The answering rates of telephones and online customerservice increased by 71.31 and 34.26 percentage points respectively comparedwith that of the 127th Canton Fair.
The Fair contributed to a new development pattern of dualcirculation. Various measureswere taken to boost not only foreign trade but also domestic trade. We discoveredstrengths of exhibitors in domestic market and presented them to high-qualitydomestic buyers through multi-channel, all-round marketing. Exhibitors withdomestic trade intentions tagged over millions of products “domestic trade” tohelp buyers quickly locate them via the “filter” button. Online and offlineactivities were organized with the focus on dual circulation and domestictrade, attracting about 100 representatives of specialized buyer groups andmore than 40 exhibitors. We also stepped up efforts to invite domestic buyers; 13,700domestic buyers registered and attended the Fair. Domestic buyers initiatedinstant messaging with exhibitors for 57,800 times, with 1025 requests made.
Results met expectations. The 128th Canton Fair served as asecure and reliable platform of cooperation and exchanges for global buyers.Though the turning point of the pandemic has not yet emerged, the enthusiasm ofoverseas buyers to conduct trade and economic cooperation with China has notbeen dampened. Totally, overseas buyers from 226 countries and regionsregistered for the Fair. The number of buyer source countries hit a recordhigh, further optimizing global market mix. According to overseas buyers, theupgraded Canton Fair virtual platform brought better user experience with theaccess to more new products, new technology, new trends and more convenientcommunication that enabled them to reach high-quality suppliers in an efficientand targeted way. They could even view production factories online, whichfacilitated one-stop negotiation and sourcing. Foreign trade companiesindicated that they were able to show products and company images effectivelyat the digital Canton Fair, maintaining relationships with regular buyers whileattracting new buyers in emerging markets, in particular Belt and Roadcountries. As a result, customer mix as well as market mix was more balanced.The 128th Canton Fair provided businesses from home and abroad with acommunication platform with plenty of resources, which was in dire need. Ithelped businesses smooth production and sales channels and get much neededorders, boosting business confidence and stabilizing market expectations.
Xu said media outlets worldwide producedwell-designed and multi-dimensional reports on the 128th CantonFair, telling the story and spreading the voice of the Fair, thus creating apositive public opinion atmosphere. He looked forward to meeting everyone inthe 129th Canton Fair.
