More export-oriented companies will participate in the upcoming China Import and Export Fair, better known as the Canton Fair, demonstrating confidence in expanding overseas deals in the months ahead, according to a spokesman for the fair's organizers.
"We have opened up applications for exhibitors, allowing qualified companies to participate in the trade fair's online exhibitions," Xu Bing told a news briefing on Sunday.
The fair, usually held twice a year in April and October in Guangzhou, capital of Guangdong province, will kick off its 132nd session online on Oct 15. Online exhibition services will run until March 15.
In all, 34,744 domestic companies, an increase of about 40 percent over the previous session, will participate in the online exhibition, the largest of its kind in China, according to Xu.
Usually seen as a barometer of foreign trade, the fair will set up 50 sections for 16 categories. Some 416 companies from 34 countries and regions will also display products online during the fair, according to organizers.
"A large number of high-quality companies including 2,094 brands and more than 3,700 high-tech and time-honored companies will display products online during the fair," Xu said.
Of them, 130,000 feature digitalized or smart capabilities and 500,000 are green, low-carbon commodities, according to Xu.
Foreign trade is expected to maintain momentum this year despite challenges such as the rising costs of raw materials and energy, according to a survey by the China Council for the Promotion of International Trade.
The survey, which interviewed 2,043 export-oriented companies in late August on issues related to business outlook and market conditions for the third quarter, found that more than 30 percent of Chinese exporters expected to achieve year-on-year growth in annual trade volume.
Major issues that troubled export-oriented companies in the first half of this year, like the high costs of logistics, capital and exchange rates, have eased, according to the survey.
China's foreign trade surged more than 10 percent year-on-year to 27.3 trillion yuan ($3.79 trillion) during the first eight months of 2022, data from the General Administration of Customs showed.
Galanz, a leading Chinese household electrical appliance maker, is expecting to make more deals by displaying more products specially tailored to overseas customers during the fair, according to the company.
The development of high value-added products in combination with real overseas market demand have contributed to Galanz's business growth, which realized a year-on-year increase in exports of 9.8 percent in the first half of 2022.
Galanz products shipped overseas include a full range of environmentally friendly smart appliances ranging from microwaves, refrigerators, steam ovens, air fryers, dishwashers and washing machines to clothes dryers.