The 128th Canton Fair has Successfully Closed last week

The 128thvirtual Canton Fair Autumn was successfully closed on October 24th.

2020 is an extraordinary year for businesses and communities. The COVID-19 pandemic is still spreading around the globe, the world economy is in deep recession and countries are facing an arduous task of fighting against the pandemic, stabilizing the economy and ensuring people’s livelihood.

Spokesperson of Canton Fair and Deputy Director-General of China Foreign Trade Centre said to media, Mr Xu Bing hosting the 128thCanton Fair online has not only made due contributions to stabilizing foreign trade and investment, but also demonstrated China’s actions in safeguarding the smooth international industrial and supply chain and the responsibility as a great nation to inject new impetus into the world economic recovery.

Xu introduced that the Canton Fair virtual platform had operated smoothly. The following columns were set up on the platform, including Exhibitors and Products, Global Business Matchmaking, VR Exhibition Hall, Exhibitors On Live, News and Events, Services and Support, Cross-border E-commerce Zone. The Fair integrated functions of online exhibiting, marketing and promotion, business matchmaking and online negotiation to build a trading bridge breaking the limit of time and space for global buyers. As buyers could register more conveniently and suppliers and buyers communicate more smoothly, we had better achieved the goal of “register, find products, conduct successful negotiations”; both exhibitors and buyers had spoken highly of the platform. The official website operated smoothly since launched. With the strong network security assurance, there was no incident of the network information security.

Nearly 26,000 exhibitors showed their products and there were a large number of products with innovations in design, function, and material and techniques. Enterprises competed and achieved transformation with innovations, which fully demonstrated that China’s foreign trade enterprises stuck to high-quality development and held a positive attitude towards quality improvement. Over 2.47 million products were uploaded, up by 350,000 compared with that of the 127thCanton Fair. Based on the data we collected, therewere730,000new products, 130,000 more than the last session and 100,000 smart products, 20,000more than the previous session. The number of products with self-marketing and self-owned IP and brands saw continuous growth. There are 346 overseas enterprises from 30 countries and regions uploaded over 8500 products. The feast of products attracted global buyers to attend. There were 7.89 million visits to virtual exhibition halls, including 7.83 million cumulative visits that of the National Pavilion and 66,200 visits on that of the International Pavilion.

The Fair facilitated digital transformation of enterprises. Powered by the internet, big data, cloud computing, AI technology, the 128th Canton Fair supported exhibitors to participate through pictures, texts, and video and in 3D and VR format. In total there were 284,800 live streams on the website, attracting 1.89 million views. There were 2046 exhibitors designed and uploaded VR booths, with over 163,200 visits. Website users sent 186,800 name cards in total.

The 128thCanton Fair has established an online-offline merged model to deal with complaints, so as to ensure IPR protection. Various supporting services were well provided.

The online Fair contributed to a new development pattern dual circulation. Various measures were taken to boost not only foreign trade but also domestic trade. The organizer also stepped up efforts to invite domestic buyers;13,700 domestic buyers registered and attended the Fair. Domestic buyers initiated instant messaging with exhibitors 57,800 times, with 1025 requests made.

The 128thCanton Fair served as a secure and reliable platform of cooperation and exchanges for global buyers. Though the turning point of the pandemic has not yet emerged, the enthusiasm of overseas buyers to conduct trade and economic cooperation with China has not been dampened. Totally, overseas buyers from 226 countries and regions registered for the Fair. The number of buyer source countries hit a record high, further optimizing the global market mix. According to overseas buyers, the upgraded Canton Fair virtual platform brought better user experience with the access to more new products, new technology, new trends and more convenient communication that enabled them to reach high-quality suppliers in an efficient and targeted way. They could even view production factories online, which facilitated one-stop negotiation and sourcing. Foreign trade companies indicated that they were able to show products and company images effectively at the digital Canton Fair, maintaining relationships with regular buyers while attracting new buyers in emerging markets, in particular Belt and Road countries. As a result, the customer mix as well as market mix was more balanced. The 128thCanton Fair provided businesses from home and abroad with a communication platform with plenty of resources, which was in dire need. It helped businesses smooth production and sales channels and get much-needed orders, boosting business confidence and stabilizing market expectations.

The outlets worldwide produced well-designed and multi-dimensional reports on the 128th Canton Fair, it will inspire and beneficial toward to 129th Canton Fair next year.

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