China warned of ‘severe, complicated’ foreign trade situation ahead of Canton Fair amid falling orders
- Canton Fair, which will begin on April 15 and run until May 5, expected to attract 34,000 exhibitors to the southern city of Guangzhou
- But exporters registering for the spring session of China’s largest trade expo said the fall in overseas demand and orders represents a major challenge
China’s largest trade expo returns at a key time later this month amid a warning of a “severe and complicated” foreign environment, with Beijing eager to leverage its major events and offer wider access to overseas markets in an attempt to shore up a significant economic driver.
Declining commodities exports, which contributed around one fifth of China’s economic growth each in the past three years, have already forced policymakers to offer more help via improved customs procedures, logistics and funding, while cementing ties with developed countries and emerging markets.
Exporters registering for the spring session of the Canton Fair, which will begin on April 15 and run until May 5, said the fall in overseas demand and orders represents a major challenge, according to an online survey of 20,000 firms conducted by the Ministry of Commerce.
We are negotiating more free trade agreements. Also, the faster growth of cross-border e-commerce and digitalisation of trade processes have provided us new competitive edges
“[The results] are in line with our expectations. The foreign trade situation is severe and complicated this year,” vice-trade minister Wang Shouwen said on Tuesday in Beijing.