The 122nd China Import and Export Fair (Canton Fair) which recently concluded in Guangzhou, China, reported a cumulative export turnover of 198,65 billion yuan ($30.16 billion), marking an 8.2 per cent year-on-year increase.

The event saw a total of 191,950 buyers from 213 countries and regions attend, which was an increase of 3.36 per cent over the fair’s 120th session, said a statement from the organisers.

Machinery and electronic products continued to lead in trade volume, making up 52.7 per cent of the total turnover, seeing a 5.4 per cent year-on-year increase.

This was followed by light industrial products and textile and clothing. Turnover at the brands sections has grown by 13.6 per cent, while the pet sector also received large number of inquiries.

Xu Bing, spokesman for the Canton Fair, noted that the fruitful results were achieved thanks to the growing number of buyers and their purchasing power.

Some participants include: 84,445 buyers from Belt and Road Initiative countries with a 3.48 per cent year-on-year increase; a total of 104 companies listed in the latest Top 250 Global Retailers, including eight of the top 10 companies among which were Walmart, Kroger, Walgreens Home Depot, Carrefour, Aldi, Tesco and Amazon; about 1,086 international companies and sourcing groups, such as Auchan (France), KESKO (Finland), Taurus (Spain), Staples (US), Harbor Freight Tools (US), Lifetime Brands Inc (US), Kawan Lama Group (Indonesia) and LOCK&LOCK (South Korea).

In addition, the fair hosted 50 events that covered trending topics in the international market, industry forum, design and innovation discussion, technology R&D, branding and marketing, regional industry promotions and new product releases.

Some of the events were: "UAE on the Belt and Road" - China-UAE Purchasing Matchmaking; The Canton Fair (UK) international market forum; The Canton Fair Sourcing Day-United Nations and International Organization.

Bing said: “We are thrilled to see the fair continuing to promote global trade by maintaining optimising exhibition sections to improve the precision in attracting investment.”

“We wish that in the upcoming 123rd Canton Fair we will meet more new businesses and work together to reshape the international trade market, taking it into a new era,” Bing concluded. – TradeArabia News Service