Singapore’s primary Chinese language newspaper Lianhe Zaobao recently reported on China’s largest trade show. The China Import Export Fair (also known as The Canton Fair), just concluded on June 24. This Canton Fair was held online as a virtual fair. According to the official report, the Fair attracted buyers from 217 countries or regions. Around 26,000 domestic and foreign companies participated as suppliers. However, no official numbers on sales were announced, which is very unusual. Traditionally the Canton Fair host always announces the total turnover on the last day of the Fair. According to the spokesperson for the Fair, the outcome of this Fair demonstrated China’s export future is facing increased uncertainty, with “extremely complex and serious” risks and challenges. The Chinese suppliers are focusing on innovations in the areas of smart manufacturing, distribution channels, business models, and service systems. The spokesperson emphasized that the overall long-term trend of the Chinese exports remains positive and unchanged.
Source: Lianhe Zaobao, June 26, 2020