During a State Council Information Office press conference on September 18th, the 140th China Import and Export Fair (Canton Fair) was introduced, with the event scheduled to take place in Guangzhou across three phases from October 15th to November 4th. For the first time, the fair will implement year-round buyer pre-registration, establish a buyer tagging system, introduce AI-powered invitation pushes, and form a buyer alliance with a membership points program to provide more refined services to attendees.
The Canton Fair's global network continues to expand and improve, with 12 new global partners added this year. To date, over 210,000 overseas buyers have completed pre-registration, with numbers expected to grow as the event approaches.
When asked by a National Business Daily (NBD) reporter about China's foreign trade performance this year and prospects for next year, the Ministry of Commerce's Director of the Department of Foreign Trade, Yang Tao, reported that trade maintained strong momentum. In the first eight months of this year, total import and export value reached 34.8 trillion yuan, growing 17.6% year-on-year, with exports up 14.6% and imports up 22%, the latter notably outpacing the former in growth rate.
The ministry highlighted three distinct characteristics of the evolving trade landscape. First, momentum from new business forms and models continues to strengthen, supported by ongoing policy enhancements from the ministry. Cross-border e-commerce, for instance, reached 1.45 trillion yuan in imports and exports during the first half of this year, creating jobs for over 10 million people, while the penetration rate of AI applications in e-commerce enterprises has surpassed 60%. Additionally, bonded logistics has grown rapidly, with trade value approaching 6 trillion yuan in the first eight months, up 42.3%.
Second, the share of high-tech, high-value-added products has been steadily climbing. Electromechanical products accounted for 19.1 trillion yuan in imports and exports from January to August, a rise of 24.9%, with integrated circuits surging 68.1% and computers and components up 60.5%. Industrial robots and 3D printers also achieved notable growth, with "Intelligent Manufacturing in China" providing critical support to the global digital and intelligent economy.
Third, green and low-carbon development has become a hallmark of China's foreign trade. As global green transformation accelerates, Chinese green products meet the needs of various countries. Electric vehicles, lithium batteries, and photovoltaic products saw combined year-on-year growth of approximately 40% in the first eight months, with orders for wind turbines, green ships, and energy-saving equipment also rising steadily. As an example, high-quality wind power units exported to relevant countries have offered a "China solution" for alleviating power supply shortages and optimizing energy structures.
The ministry acknowledged a more complex and volatile external environment for trade next year, citing international organizations' warnings about rising trade barriers, increased global trade costs, and threats to supply chain security. In response, the ministry will closely monitor trade trends, leverage open platforms like the Canton Fair, guide enterprises in diversifying markets, actively expand imports of quality products, and promote balanced growth, contributing to higher-level opening-up and sustained economic improvement.
Regarding the role of China's foreign trade in global economic growth, Assistant Minister of Commerce Zhang Li emphasized four key contributions despite external challenges. First, China serves as an important engine for global economic growth. As the world's largest goods trader, China drove global trade growth by 2.1 percentage points in the first quarter, contributing 20.3% to the global total, according to WTO data from July.
Second, China's trade robustly supports global supply chain stability. When global supply chains face pressure, China's role as a "stabilizer" becomes more prominent, with complete product ranges, reliable delivery, quality, and pricing. Chinese goods like home appliances and consumer products reach over 200 countries, enriching global supply and easing inflationary pressures, while industrial equipment exports help developing nations advance their real economies and industrial capabilities.
Third, the benefits of China's super-large market are shared globally. Through a dual-policy approach to expanding imports, including events like the China International Import Expo, China has opened channels for quality global products. Import growth of 22% from January to August this year, the fastest since 2021, suggests an anticipated record annual import total, delivering more orders and development opportunities to businesses worldwide.
Fourth, China accelerates the global green and digital transformation. Over the past decade, China has supplied over 80% of global PV modules and 70% of wind power equipment, significantly reducing costs for wind and solar power generation. The rapid growth of AI-related industries has also boosted imports and exports of related products. Notably, Chinese AI large models have achieved over 10 billion global downloads, following open-source routes that make advanced technologies accessible and affordable for more countries, including developing ones.