logo
China's Guangdong plans a domestic version of Canton Fair trade show, but will it pay off?

China's Guangdong plans a domestic version of Canton Fair trade show, but will it pay off?

Southern China's Guangdong province will launch a 'domestic trade version' of the Canton Fair – the country's largest import and export fair – to help export-oriented companies tap into the domestic market amid weak external demand and rising global trade uncertainties.
Advertisement
The initiative is a key component of a work plan released by the provincial government on Tuesday that aims to strengthen 'domestic circulation' – a strategy focused on boosting China's economic self-reliance by building a robust and unified internal market.
According to the plan, around 20,000 export-oriented enterprises will be mobilised to take part in promotional activities that will channel high-quality export products to the domestic market.
The plan also includes other supportive measures, such as encouraging e-commerce platforms to establish dedicated sections for 'domestic sales of export products', and offering fee reductions to help foreign trade firms set up online stores.
However, industry insiders say there are already too many domestic trade promotion events, and they have done little to address sluggish consumer demand and delayed payments, the fundamental challenges in shifting to domestic sales.
Advertisement
'Guangdong's new fair continues the aim of supporting foreign trade companies by helping them shift inventory and production capacity towards the domestic market,' said Peng Peng, executive chairman of the Guangdong Society of Reform, a think tank based in Guangzhou, the provincial capital.
The key issue, Peng said, was whether the new fair would be able to replicate the twice-yearly Canton Fair's key benefits to exhibitors – gathering large numbers of genuine buyers and facilitating real transactions – or prove to be merely a symbolic gesture.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

China trade talks could include TikTok, Lutnick says
China trade talks could include TikTok, Lutnick says

South China Morning Post

time14 minutes ago

  • South China Morning Post

China trade talks could include TikTok, Lutnick says

TikTok may come up in trade talks with China next week , but if Beijing does not approve a divestment deal for Chinese owner ByteDance, the app will soon go dark in the United States, US Commerce Secretary Howard Lutnick said on Thursday. US President Donald Trump's administration will allow TikTok to remain in the US 'if it's in American control, and … China can have a little piece or ByteDance, the current owner, can keep a little piece', Lutnick said, speaking on CNBC. 'Americans will have control. Americans will own the technology, and Americans will control the algorithm. That's something Donald Trump is willing to do. If that deal gets approved then by the Chinese, then that deal will happen,' he said. 'If they don't approve it, then TikTok is going to go dark, and those decisions are coming very soon.' Asked whether an agreement over TikTok is part of current trade negotiations, Lutnick said 'yes and no'. 'It's not really part of the trade talks, but you can't really go meet somebody and not bring up the topics that are relevant,' he said. 'So … it's not officially part of it, but unofficially? Of course.' ByteDance is under pressure to divest the short-video app by September 17 or face a ban in the US. Last year, then-US President Joe Biden signed a sale-or-ban law, requiring that a 'foreign adversary' no longer control the app, defined as a 20 per cent stake, over national security concerns. Despite an original January deadline, Trump has repeatedly delayed enforcement of the law. The original deadline as set in law was January 19, with allowance for a one-time 90-day extension if progress towards a sale was evident. Trump had extended that deadline his first day in office via executive order, days after a call with Chinese President Xi Jinping during which TikTok was discussed. He has since extended it twice more.

Hong Kong urged to make itself ‘truly the world's green financial centre'
Hong Kong urged to make itself ‘truly the world's green financial centre'

South China Morning Post

time2 hours ago

  • South China Morning Post

Hong Kong urged to make itself ‘truly the world's green financial centre'

Hong Kong is poised to play an invaluable role in sustainable development by capitalising on its strengths in green finance given mainland China's status as a leader in advanced green technologies, a top American economist has said. Advertisement Jeffrey Sachs, an economics professor and director of the Centre for Sustainable Development at Columbia University, also said on Thursday that the Greater Bay Area was superior to Silicon Valley. Beijing should also speed up the internationalisation of the renminbi, he said. 'The role of Hong Kong in sustainable development is becoming central for the whole world,' Sachs said at an event hosted by the newly formed Hong Kong Association for External Friendship, a non-governmental organisation. The UN's Sustainable Development Goals, which were adopted by all of its member states in 2015, are a set of 17 global targets aimed at ending poverty, protecting the planet and ensuring prosperity for all by 2030. Sachs said China had a unique role to play in driving sustainable development as it was the world's largest industrial nation and the 'lowest-cost producer' of advanced green and digital technology. Advertisement Hong Kong's role, in turn, was to provide the financing needed and serve as a bridge that connected the world through bond issuances, listings and finding business partners.

US' ‘anti-Beijing trade plan', little-known China oversupply issue: SCMP daily highlights
US' ‘anti-Beijing trade plan', little-known China oversupply issue: SCMP daily highlights

South China Morning Post

time2 hours ago

  • South China Morning Post

US' ‘anti-Beijing trade plan', little-known China oversupply issue: SCMP daily highlights

Catch up on some of SCMP's biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing The United States has struck new trade deals with Indonesia and the Philippines, in a move analysts say could indirectly undercut China by reshaping regional supply chains and tapping rare earth reserves – even if Beijing is not explicitly targeted. Six university students drowned in an industrial tank during a field trip to a mining operation owned by China's most prestigious gold producing company, according to state news agency Xinhua. China released ethical guidelines for autonomous driving technology on Wednesday that said automated driving systems 'must demonstrate a high degree of respect for human life and actively seek effective strategies to minimise harm'.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store