State-of-the-art production lines, well-equipped plants, organic farms and a complete product portfolio. All of the aforementioned items were hard for companies to gather and present together during previous sessions of the Canton Fair. Yet at the 127th session, which is being held online, they are easily showcased via exhibitors’ livestreamin.
After its official debut on the cloud, the 63-year-old trading event has been met with an enthusiastic response from exhibitors and buyers.
Their experiences at the fair over the past few days have helped them realize the importance of making full use of the online platform.
The general consensus among most foreign trade companies is to take an active part in online marketing.
“Foreign trade businesses are quick to learn,” said a representative of the China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce and Animal By-products, also known as CFNA. “The online Canton Fair will encourage foreign traders to move further on the cloud.”
Fully-prepared businesses benefit from their livestreaming hits while those lacking experience are trying to catch up, he said, adding that attending the fair on the cloud is a compulsory lesson for foreign trade professionals to learn.
Amid the COVID-19 pandemic, China’s foreign trade sector, which is riding on a wave of the cloud, has showcased its flexibility and strength.
Data from various trade associations show the number of exhibitors at the 127th Canton Fair outgrew that of its previous sessions, and online exhibits are richer than ever.
According to the CFNA, 1,760 exhibitors from the sector displayed nearly 80,000 products online, far more than what can be shown at a brick-and-mortar exhibition. On June 22 alone, the number of livestreams focusing on farm products surpassed 200. With those replayed videos added, the total broadcasts relating to the sector reached more than 1,300 that day.
Ahcof Group from Anhui province and Jiangsu Cereals,Oils and Foodstuffs Import and Export Group have increased investment in preparing their livestreaming and won acclaim at the fair.
Exhibitors said they can present their products around-the-clock online and have gained more opportunities to reach deals during the 10-day fair.
High-quality exhibitors have put themselves in a high-profile position via various digital marketing operations, such as WeChat promotional activities, livestreaming and flash sales.
According to the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, or the CCCME, leading home appliance providers have still achieved growth despite the sluggish export of the overall sector.
The industrial leaders’ adaptation to market needs for intelligent technologies in home appliances is the main reason, the CCCME said, adding that online sales also contributed to their growth.
Among the large home appliance providers, Midea has relocated its sales channels online, greatly reducing the impact of the pandemic on orders. Hisense’s international e-commerce revenue surged by 63 percent year-on-year from January to May. During the period, its destination markets of the United States, Italy, Russia, Spain, France and Dubai all reported a more than 100 percent jump year-on-year.
“The 127th Canton Fair has tried its best to create an online trading platform, and has earned attention from around the world,” said the CCCME official.
The chamber of commerce will work together with its member companies participating in the event to sum up experience, innovate trade modes, boost faith in market prospects and open a new chapter in foreign trade in machinery and electronics, the officials said.
