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The Star
29-04-2025
- Business
- The Star
Nearly 50% of surveyed firms in China to reduce business with US
Signs reading "Tariff only 14%" on display above speakers at the Canton Fair in Guangzhou, China, on Wednesday, April 16, 2025. The second phase of the 137th Canton Fair attracted more than 224,000 buyers from 219 countries and regions. - Bloomberg BEIJING: A survey covering more than 1,100 Chinese foreign trade companies found that nearly 50 per cent of respondents will scale back their business activities with the United States amid tariff hikes. The survey results, released on Monday (April 28) by China's top foreign trade and investment promotion agency, also said that 75.3 per cent of surveyed companies are seeking to expand into emerging markets to compensate for the reduction in exports to the US. The study was conducted recently by the China Council for the Promotion of International Trade to analyse the impact of US tariff hikes on Chinese exporters, so that the agency can provide targeted trade promotion services. Zhao Ping, spokeswoman for the trade promotion council, said at a monthly news conference in Beijing that the frequent changes in US tariff policies have significantly increased uncertainty, making it difficult for Chinese manufacturers to plan for the long term. Chinese exporters are exploring new markets, boosting domestic sales, strengthening supply chains and adapting to changes, in order to overcome the current challenges, she added. Zhang Sihong, deputy director of the China Foreign Trade Center, one of the organisers of the China Import and Export Fair, also known as the Canton Fair, in Guangzhou, Guangdong province, said these moves are part of a broader strategy by Chinese manufacturers to diversify their markets and enhance supply chain resilience. "Overseas companies are also seeking to strengthen cooperation with Chinese exporters to mitigate the impact of unilateralism on their businesses," said Zhang. For instance, the second phase of the 137th Canton Fair, which concluded on Sunday, attracted more than 224,000 buyers from 219 countries and regions, the highest number recorded for the same phase in the fair's history. Wang Li, a researcher specialising in foreign trade at the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that Chinese companies, faced with mounting external pressures, are eager to reduce reliance on a single market and build more adaptable, risk-resistant business models to maintain steady growth in the long run. One such company is Shandong Lingong Construction Machinery Co, a manufacturer of wheel loaders and excavators based in Linyi, Shandong province. The value of the company's exports to economies participating in the Belt and Road Initiative exceeded 600 million yuan ($82.2 million) in the first quarter of 2025, accounting for more than 70 percent of its total export value, according to Qingdao Customs data. "To mitigate risks arising from protectionism in recent years, we have been actively expanding our sales network in emerging markets and establishing partnerships in regions and countries such as Central Asia, Latin America, South Africa and Indonesia," said Zhang Chengwei, head of Shandong Lingong's excavator unit. Meanwhile, Ningbo Careline Electric Appliance Co, a home appliance exporter based in Zhejiang province, said it has seen strong domestic demand for its newly launched smart air fryer after shifting its focus to the local market earlier this year. "Amid this year's complex and volatile international trade environment, we responded swiftly to market trends and seized opportunities in the domestic market to expand our sales network," said Yu Xiongwei, the company's president. In the first quarter, Ningbo Careline's total orders grew more than 20 percent year-on-year, with domestic sales accounting for more than 20 percent of total sales. Revenue from domestic sales surpassed 40 million yuan during this period, according to Ningbo Customs. Efforts to expand international engagement are also accelerating, as the China Council for the Promotion of International Trade has organised 184 delegations of Chinese entrepreneurs to visit and engage in exchanges with 45 countries and regions since the beginning of this year. - China Daily/ANN
Korea Herald
30-03-2025
- Business
- Korea Herald
137th Canton Fair Promotes Innovation and Trade in Hong Kong and Macao, Bringing Regional Economy to New Heights
GUANGZHOU, China, March 28, 2025 /PRNewswire/ -- The 137th Canton Fair, set to commence on April 15th in Guangzhou, successfully hosted two promotion conferences on March 18th and 19th in Hong Kong Special Administrative Region and Macao Special Administrative Region, respectively. These events further bridged international trade exchanges and promoted convention and exhibition development in the Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area). The Deputy Director of China Foreign Trade Centre, Zhang Sihong, conveyed heartfelt gratitude to the Hong Kong and Macao business communities for their longstanding support of the Canton Fair and provided updates on the upcoming 137th session. The Hong Kong Spring Reception and Canton Fair Promotion Conference was joined by over 260 guests including representatives from Hong Kong Trade and Industry Department, 6 Hong Kong chambers of commerce, 21 foreign chambers of commerce, 17 top multinational corporations, members of the Hong Kong Legislative Council, exhibition industry partners and media. Dr. Jonathan Choi, Chairman of the Chinese General Chamber of Commerce of Hong Kong stated that the Hong Kong business community has been an active participant and beneficiary of the Canton Fair. He highlighted that, moving forward, Hong Kong businesses can further leverage the Fair as a platform to expand into markets within Belt and Road countries and emerging economies. The Macao Spring Reception and Canton Fair Promotion Conference on March 19th was attended by 90 guests from Trade Office of the Economic Affairs Department of the Liaison Office of the Central People's Government in Macao SAR, the Economic and Technological Development Bureau (DSEDT), 9 business associations, 17 exhibitors and media. Xu Lemin, Deputy Secretary of Macao Chamber of Commerce, expressed her hope that more Macao enterprises can showcase the achievements of "manufactured in Macao" and "designed in Macao" to global buyers through the Canton Fair, especially to bring focus to the "Macao and Hengqin" coordinated development advantages and push the regional economic development to new heights. The Canton Fair, as a prime example of China's Commitment to expand opening-up, provides global buyers with a one-stop trade platform covering a complete range of products and excelling in quality, price, convenience, efficiency and credibility. The 137th Canton Fair will be held from April 15 to May 5, 2025 in Guangzhou. To download the Canton Fair App, please visit .
Yahoo
28-03-2025
- Business
- Yahoo
137th Canton Fair Promotes Innovation and Trade in Hong Kong and Macao, Bringing Regional Economy to New Heights
GUANGZHOU, China, March 28, 2025 /PRNewswire/ -- The 137th Canton Fair, set to commence on April 15th in Guangzhou, successfully hosted two promotion conferences on March 18th and 19th in Hong Kong Special Administrative Region and Macao Special Administrative Region, respectively. These events further bridged international trade exchanges and promoted convention and exhibition development in the Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area). The Deputy Director of China Foreign Trade Centre, Zhang Sihong, conveyed heartfelt gratitude to the Hong Kong and Macao business communities for their longstanding support of the Canton Fair and provided updates on the upcoming 137th session. The Hong Kong Spring Reception and Canton Fair Promotion Conference was joined by over 260 guests including representatives from Hong Kong Trade and Industry Department, 6 Hong Kong chambers of commerce, 21 foreign chambers of commerce, 17 top multinational corporations, members of the Hong Kong Legislative Council, exhibition industry partners and media. Dr. Jonathan Choi, Chairman of the Chinese General Chamber of Commerce of Hong Kong stated that the Hong Kong business community has been an active participant and beneficiary of the Canton Fair. He highlighted that, moving forward, Hong Kong businesses can further leverage the Fair as a platform to expand into markets within Belt and Road countries and emerging economies. The Macao Spring Reception and Canton Fair Promotion Conference on March 19th was attended by 90 guests from Trade Office of the Economic Affairs Department of the Liaison Office of the Central People's Government in Macao SAR, the Economic and Technological Development Bureau (DSEDT), 9 business associations, 17 exhibitors and media. Xu Lemin, Deputy Secretary of Macao Chamber of Commerce, expressed her hope that more Macao enterprises can showcase the achievements of "manufactured in Macao" and "designed in Macao" to global buyers through the Canton Fair, especially to bring focus to the "Macao and Hengqin" coordinated development advantages and push the regional economic development to new heights. The Canton Fair, as a prime example of China's Commitment to expand opening-up, provides global buyers with a one-stop trade platform covering a complete range of products and excelling in quality, price, convenience, efficiency and credibility. The 137th Canton Fair will be held from April 15 to May 5, 2025 in Guangzhou. To download the Canton Fair App, please visit View original content to download multimedia: SOURCE Canton Fair Sign in to access your portfolio
