Canton Fair attracts over 25,000 firms

CHINA’S largest trade fair opened its 123rd session yesterday in Guangdong Province, attracting more than 25,000 companies as exhibitors.

The biannual China Import and Export Fair, also known as the Canton Fair, is considered a barometer of China’s foreign trade.

Xu Bing, the fair’s spokesperson, said buyers from more than 210 countries and regions are expected to attend the fair, with the total number of buyers set to remain the same as the previous session.

The first phase of the fair, which runs until Thursday, features products including home appliances, electronics and hardware, with major brands such as Haier and Midea showcasing their latest models.

The fair also features an exhibition area for imports, with more than 600 companies from 34 countries and regions expected to account for around 1,000 booths.

Latest data from the General Administration of Customs showed that China registered sound growth in foreign trade for the first quarter, with its trade surplus shrinking.

China’s exports of goods rose 7.4 percent year on year in the first three months while imports grew 11.7 percent.

The country’s trade surplus stood at 326.18 billion yuan (US$52 billion), a 21.8 percent drop year on year, GAC data showed.

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