How the Canton Fair Changed Global Trading

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Since its inception in 1957, the Canton Fair has long been a symbol of the strength of China in
producing commodities. The fair boasts of thousands of exhibitors, nearly 25,000 to be precise,
consisting of various kinds of enterprises as well as scientific research institutions and foreign
trade companies. All these add up to a trade fair known to have the most products to showcase,
largest audience, and most business deals made.

As one of China’s largest trade fairs, the Canton Fair is co-hosted as well by the Ministry of
Commerce of China and People’s Government of the Guangdong Province. The fair is majorly
organised by the China Foreign Trade Centre.

As of the moment, there exist almost 20 exhibit categories divided into three phases all
throughout the year. These include Electronics & Household Electrical Equipment, Vehicles &
Spare Parts, Chemical Products, Energy Resources, Consumer Goods, Food, Health Products,
and Textile & Garments to name a few.

Business done in the trade fair is not only limited to both import and export trade. Export
alone has garnered USD 1.2635 trillion up to date. For instance, economic cooperation and
exchange, insurance, and advertising are some of the few known businesses dealt in the
Canton Fair.

What has the Canton Fair done for Global Trade?

That being said, Canton Fair has been known to provide a huge role in the global trading. In its
most recent session, the 122nd Canton Fair held last October 14 a few major points have been
discussed in its further development. All these with regard to President Xi’s remarks in
transforming an open economy both between China and the world.

One of the major agreement the trade would benefit from is the One Belt One Road Initiative.
This is in fact what they consider the core project. The idea was first made public in 2013 and
four years later, its development has been thriving with the current 45 industrial organizations
and 32 Belt and Road Countries participating in its establishment. This plan would include
Malaysia, Thailand, Egypt, Turkey, India, and Pakistan to name a few.

The Canton Fair also aims its focus on innovations that will help the improvement of products on
the supply side. The trade fair, having long been known as a large exhibit of commodities and
consumer goods, aims to innovate further by greener and more sustainable initiatives including
the promotion and addition of more local industries. Just this year, the Green Development Plan
2.0 was launched.

So far, from being a trade fair known for exchanging businesses of goods with regards to
importing and exporting, the Canton Fair has evolved over time and is now also a huge platform
for enterprises, multinationals included, for customer networking, brand promotion and
advertising, display and negotiations, and much more.

The Canton Fair continues to be a powerhouse in maintaining and building strong ties between
business and as well as countries. It has been a huge part of the global trading for years and
will continue to shape it for much more to come. The 2018 Canton Fair is set to happen on April
2018 in Guangzhou, China.

About The Author

Giovanni Pino
Giovanni's passion and interest in global sourcing and trade gives him insight and understanding that most would miss. His love of research mixed with his background in business makes for an interesting read.

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