Canton Fair helps stabilize industrial and supply chains

The expanded and upgraded virtual Canton Fair, or China Import and Export Fair, helps stabilize industrial and supply chains for China and the world, China News Network reported on Sunday.

As the essential exhibition, matchmaking and trading platform of the whole industrial chain for products "Made in China", the 132nd session of Canton Fair will continue to contribute to the stability of the industrial and supply chains in China and the world, the report said.

Overseas purchasers can have a one-stop shop for all kinds of auto parts at the online platform of the 132nd session of the Canton Fair, which kicked off online on Oct 15, attracting over 35,000 domestic and overseas companies, an increase of more than 9,600 over the 131st edition.

Meanwhile, the functions of the online platform have been optimized and upgraded with the service time being extended from the original 10 days to 5 months, providing more new opportunities for international trade and regional cooperation.

A large number of high-quality enterprises were featured in this year's Canton Fair, including 2,094 brand enterprises and over 3,700 enterprises with titles such as national high-tech enterprises, Chinese time-honored brands and national enterprise technology centers, said Xu Bing, spokesman of the fair.

The Canton Fair has helped the company accelerate the speed of global development with products sold in 138 countries and regions and this year's extended service period providing support for foreign trade companies to gain more overseas orders, said a leader of Guangdong Baijia, a company specializing in cash processing equipment such as cash counting and checking.

Despite the chill in global trade, China's foreign trade has shown strong resilience and vitality. In the first eight months of this year, China's imports and exports reached 27.3 trillion yuan ($3.8 trillion), up 10.1 percent year-on-year, according to the Ministry of Commerce.

Ruili Group China, a commercial vehicle auto parts manufacturer, has maintained an overall growth of export so far this year, despite currency fluctuations, said Zhang Jie, sales director of Ruian Auto Parts Co Ltd of Ruili Group China.

The company wants to further explore the Middle East, Africa and Southeast Asia markets with the help of the online platform of the Canton Fair, Zhang said.

China's foreign trade companies' confidence and expectations have increased significantly with the effective implementation of packaged policies to stabilize Chinese economy and foreign trade.

About 30 percent of foreign trade enterprises are expected to achieve year-on-year growth in annual trade volume, according to an investigative report by China Council for the Promotion of International Trade.

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