News — ChangeLab

China opens the largest-ever "Canton Export and Import Fair" in Guangzhou

The 133rd China Import and Export Fair (better known as the Canton Fair) began its work on April 15 in southern China, focusing on the topics of industrial development and automation, the development of artificial intelligence capabilities in manufacturing, new energy, electric cars and digital products.

The event has a reputation as China's No. 1 fair and has been called "the barometer of China's international trade. This year, according to experts, the fair has become one of the largest events ever held on the territory of China after the opening of borders and the abolition of covid measures. According to the Chinese portal, about 35,000 exhibitors from more than 200 countries and regions showed their products and services at the 100,000-square-meter site. There were also more than 300 new products on display, reflecting the latest advances in technological innovation and advanced manufacturing development.

According to many Chinese exporters participating in the 2023 fair, it is clear that the past year has caused serious concerns about changes in the global economy, which has led to problems in logistics, a freeze in their investments, as well as reduced labor costs and low demand for a range of goods. However, our team of experts is confident that this event serves as a big step for the PRC in getting its trade supply chain back on track. And such a promising start to the fair shows not just that exporters are trying to catch up with sales volumes postponed last year due to the pandemic, but clearly demonstrates China's renewed economic strength.