Canton Fair boosts Chinese companies' cooperation with RCEP members

Updated: April 18, 2022 Source: Belt and Road Portal
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Aerial photo taken on Feb. 24, 2020 shows the Haizhu wetland and the Canton Tower in the distance in Guangzhou, south China's Guangdong Province. (Photo by Xie Huiqiang/Xinhua)

At the on-going 131st China Import and Export Fair, also known as the Canton Fair, many Chinese companies are looking to seize the opportunities brought by the Regional Comprehensive Economic Partnership (RCEP) and further explore the markets of the Association of Southeast Asian Nations (ASEAN), reported on April 17.

Opened online on April 15, the 10-day event has attracted over 25,500 domestic and overseas exhibitors. "We have mapped out our global network through the previous sessions of the Canton Fair, allowing our products to enter the supermarkets in many countries," said Xu Yanping, a manager with Guangdong Eagle Coin Haibao Foods Co., Ltd. The company is looking to utilize the Canton Fair platform to strengthen cooperation with RCEP member states.

Thanks to the RCEP, exporting products to Vietnam and other ASEAN countries has become easier, as the China-Europe freight train service between the ASEAN and east China's Jiangsu Province shortens the transportation time by five days, according to another exhibitor, an electric tool company based in Jiangsu.

Through the official online platform of the Canton Fair, Dongguan GloryStar Laser Technology Co., Ltd. is able to deliver all-round presentation covering its manufacturing, quality testing and R&D efforts at the event. RCEP has brought the company with direct profit growth through tariff reduction, promoting win-win cooperation with RCEP members in regional industrial and supply chain, said Cui Yi, a representative of the company.

The Canton Fair has developed 170 partner organizations across the globe, 40 of which are from RCEP member states. The International Pavilion of the 131st Canton Fair has attracted 117 enterprises from RCEP members, accounting for nearly 30 percent of the total. The Canton Fair International Pavilion not only allows companies from RCEP members to expand their Chinese market, but also shares with them the remarkable global buyers resources of the trade fair, supporting their international business, said Xu Bing, Canton Fair spokesperson and deputy director general of the China Foreign Trade Centre.

Editor: Li Shimeng