Each year, Guangzhou becomes the focal point of international trade through the China Import and Export Fair, famously known as the Canton Fair. The 135th session of Canton Fair officially opened its doors on April 15, 2024. This mega event serves as a vital platform for both established and emerging markets, promoting a diverse range of products from basic raw materials to advanced electronics and machinery.

Strategic Importance and Government Support

Zhou Shanqing, Director General of the Canton Fair Press Center and Deputy Director General of China Foreign Trade Center, detailed the extensive preparations that underscore the significance the Chinese government places on this event. Praised by Chinese President Xi Jinping through congratulatory letters and emphasized in the 2024 Government Work Report, the Canton Fair is crucial for stabilizing and expanding foreign trade. It serves as a strategic node for showcasing China's commitment to open economic policies and supporting global cooperation.

A Bridge for Global Trade

Spanning three phases from April 15 to May 5, 2024, the onsite exhibition at the Canton Fair expands over 1.55 million square meters and hosts approximately 29,000 exhibitors. This session introduces new dedicated zones for emerging sectors such as New Energy Vehicles, Smart Mobility, Industrial Automation, and Smart Manufacturing, reflecting its theme of "targeting high-quality development and advancing high-level opening up."

This year's fair highlights several organizational enhancements:

Optimized Exhibition Themes: The fair emphasizes specialized sectors across its three phases: Advanced Manufacturing, Quality Home Furnishings, and Better Life.

Expanded International Pavilion: Featuring 680 enterprises from over 50 countries, with a strong representation from Belt and Road Initiative (BRI) countries.

Introduction of New Trade Forms: Innovative areas such as the cross-border e-commerce pilot zone and overseas warehouse zone are newly established, enhancing the trade experience.

Enhanced Digital Interaction: The online platform has been upgraded to improve functionalities like trade matchmaking and real-time communication, ensuring a seamless integration between physical and digital participation.

Spotlight on New Energy and Smart Mobility

A significant highlight of this phase of the Canton Fair 2024 are the new energy vehicles and smart mobility solutions. This sector has attracted immense interest from numerous international buyers, reflecting the growing global demand for environmentally friendly transportation options. Canton Fair has organized targeted trade promotion activities for overseas buyers interested in this burgeoning market.

At the forefront of this sector is GAC Group, a major Chinese automaker whose electric vehicles have been a key attraction. The company, headquartered in Guangzhou, produces and sells vehicles under its own brands like Trumpchi, Aion, and Hycan, as well as under foreign-branded joint ventures such as GAC Toyota and GAC Honda. GAC's prominence is evident as it stood 165th among the Fortune Global 500 in 2023, having produced 2.5288 million vehicles and sold 2.5050 million in the same year.

Why are Bangladeshi Traders Coming to Canton Fair?

Bangladeshi entrepreneurs and traders have long recognized Canton Fair as a vital platform for discovering innovations and expanding their product portfolios. For years, they have made the journey to Guangzhou, seeking out new and transformative ideas that could revolutionize industries back home. Khorshed Alam, a Bangladeshi trader at the fair, told our team of journalists visiting from Dhaka: "Whether it's cutting-edge electronics, advanced machinery, or the latest in sustainable materials, the fair offers a window into emerging trends and technologies."

It's not just about purchasing products; it's about immersing themselves in a global exchange of ideas, fostering relationships with suppliers, and staying ahead of the curve in their respective fields. The exposure they gain at the Canton Fair catalyzes growth and innovation within Bangladesh's bustling marketplaces, contributing significantly to the country's economic evolution.

Navigating the Fair: Tips for Attendees

For those planning to visit the Canton Fair in 2024, here are some tips to make the most of your trip:

- Pre-register online to streamline your entry into the fair.

- Plan your visit according to the phase that aligns with your business interests.

- Bring plenty of business cards and be ready for extensive networking opportunities.

- Wear comfortable shoes as the fair's vast size means there will be a lot of walking.

A Platform for Future-Ready Trade

The 135th Canton Fair sets a new benchmark for international trade exhibitions. It not only supports China's economic strategies but also promotes a healthier, more sustainable, and mutually beneficial global trade environment. As the fair continues to evolve, its role in shaping the future of global commerce remains unequivocally significant. Whether you are an investor, a business leader, or a market analyst, the Canton Fair is the quintessential venue to witness the pulse of global trade dynamics and explore myriad opportunities.

Leave a Comment

Recent Posts