Virtual reality as Canton Fair goes online
In line with China's focus on livestreaming, the fair will provide 24-hour live broadcasting platforms for exhibitors to better interact with buyers around the world, said Li Jinqi, deputy director-general of the Canton Fair's organizing committee. Li stressed that technologies such as the internet, big data, cloud computing and artificial intelligence will be leveraged to fully open up new vistas for exhibitors at the event.
In addition to using well-known digital platforms such as Google and Facebook, as well as a number of social media portals, buyers from home and abroad can easily access exhibits while watching live broadcasts, he said, adding that there are a variety of online communication tools to help buyers and sellers interact in real time, as well as improve the efficiency and effectiveness of online negotiations.
To promote global trade and share mutually beneficial development, Li said activities－including online signings and new product launches to showcase innovative products－will be encouraged during the event. Companies can display their brand image in multiple dimensions through formats such as photos, videos and 3D imaging to buyers around the world.
Over 26,000 companies have already registered as sellers to exhibit their products online. The Guangzhou-based China Foreign Trade Center, the fair's local organizer, has launched several training sessions for domestic companies not familiar with livestreaming and online sales.
Michael Schumann, chairman of the board of directors of Germany's Federal Association for Economic Development and Foreign Trade, said despite the decisive role the exhibition industry plays in both countries, German industry is facing severe challenges from the pandemic and many large-scale exhibitions in the country have been canceled or postponed.
"However, the organizer of the Canton Fair takes a different approach to hold it online for free for exhibitors and buyers. This courageous move is worthy of reference for German exhibitions," Schumann said. "This year's Canton Fair will create more trade opportunities for global exhibitors and buyers."
Organizing the event online is not only a flexible measure to deal with the pandemic, but also an innovative measure to upgrade the traditional fair, as the internet and smartphones already play a big role in people's lives and business activities, said Zheng Jianrong, director-general of Guangdong's provincial commerce department.
Bai Ming, deputy director of the international market research institute under the China Academy of International Trade and Economic Cooperation, expects China's exports to show a stable recovery in the second half of the year on the back of a notable improvement in the industrial, supply and service chains, as well as from major trade events like the ongoing Canton Fair.
To maintain solid economic fundamentals, the government has emphasized the importance of focusing on the "six priorities" of safeguarding employment, people's livelihoods, the development of market entities, food and energy security, the stable operation of industrial and supply chains and the smooth functioning of society.
As the Canton Fair looks to engage exporters, exhibition fees have been waived to cope with the effect of the COVID-19 pandemic and help exporters expand sales and tide over difficulties, said Zhang Li, deputy director-general of the department of foreign trade under the Ministry of Commerce.
Cross-border e-commerce platforms that participate in fair-related activities can also get fee exemptions, Zhang said.
