Against the current domestic and international economic landscape, the grand opening of the 135th China Import and Export Fair (Canton Fair) has undoubtedly injected new vitality into the recovery and development of China’s foreign trade. This international trade event is not only an important platform for Chinese enterprises to showcase their strength and expand their markets, but also a window to observe the trends of China’s foreign trade. Especially with the release of economic and import-export data for the first quarter of 2024, the convening of the Canton Fair appears even more significant.

From a domestic economic perspective, China’s economy maintained a steady and progressive trend in the first quarter of 2024. Primary industries grew stably, while secondary industries experienced significant growth in added value. Notably, the increase in the growth rate of industrial added value above designated size reflected the robustness of industrial production. The growth of fixed asset investment and total retail sales of consumer goods also reflected the vitality of the domestic market and the release of consumption potential. These positive economic signals provided strong domestic support for the convening of the Canton Fair.

Amidst the increasingly complex international economic environment, China’s foreign trade faces both opportunities and challenges. According to data released by the General Administration of Customs, China’s total import and export value increased by 5 percent year-on-year in the first quarter of 2024, with both exports and imports showing steady growth. This achievement is attributed to the efforts and innovations of Chinese foreign trade enterprises, as well as the optimization and quality improvement of China’s foreign trade structure. The convening of the Canton Fair provides an excellent opportunity for Chinese foreign trade enterprises to showcase their strengths, find partners, and expand into international markets.

One of the highlights of this year’s Canton Fair is the optimization and improvement of the participating enterprise structure. The participation of high-quality enterprises such as national-level high-tech enterprises, manufacturing champions, and specialized and innovative “small giants” not only enhances the overall level and influence of the Canton Fair, but also showcases the transformation, upgrading, and innovation achievements of China’s manufacturing industry. The new products, green products, and products with independent intellectual property rights exhibited by these enterprises fully demonstrate the innovative capability and market competitiveness of China’s manufacturing industry.

Another highlight is the digital and intelligent transformation of the Canton Fair. The enrichment of exhibition themes such as digital technology and intelligent manufacturing, as well as the widespread application of digital technologies, like artificial intelligence and big data analysis in production and operations, have not only enhanced the technological content of the Canton Fair but also provided new momentum for the high-quality development of China’s foreign trade. This trend of digital transformation is reflected not only in the exhibition methods of participating enterprises but also in the innovation of service models and trade promotion activities at the Canton Fair.