Canton Fair goes digital to help revive world trade

Speaking with business leaders via video link from Beijing, Li said China will bolster imports of products that sell well in the domestic market and work together with different countries to contribute to the global economic recovery.

China's decision to host the event online is an indicator of the country's firm resolve to expand opening-up and safeguard the security of international industry and supply chains, he said.

Li visited the online showrooms of several businesses and spoke with executives from Gree Electric Appliances Inc, Loctek Ergonomic Technology Corp and Huida Sanitary Ware Co.

He called on businesses to improve the quality of their products and boost their competitiveness in the international market.

While many trade events around the world have been canceled or delayed and foreign buyers have been reluctant to travel abroad due to the pandemic, they have expressed eagerness to participate in the online Canton Fair as it offers a convenient way to help them resume production and services, said Zhang Li, deputy director-general of the department of foreign trade under the Ministry of Commerce.

Because of the pandemic, the World Trade Organization expects this year's global trade to fall by 13 percent to 32 percent. The coronavirus is also taking a toll on the world's second-largest economy, as the country's foreign trade in goods dropped by 4.9 percent year-on-year to 11.54 trillion yuan ($1.63 trillion) in the first five months of this year, Customs officials said.

Michael Schumann, chairman of the board of directors of Berlin-based Federal Association for Economic Development and Foreign Trade, said despite the decisive role the exhibition industry played in both countries, German industry is facing severe challenges from the pandemic and many large exhibitions in Germany have been canceled or postponed.

"However, the organizer of the Canton Fair takes a different approach in holding it online for free for exhibitors and buyers. This is courageous and worthy of reference for German exhibitions," he said. "This session of the Canton Fair will create more trade opportunities for global exhibitors and buyers."