The 134th China Import and Export Fair (CIEF), also known as the Canton Fair, opened in southeastern city Guangzhou on October 15. (PHOTO: XINHUA)

By LIN Yuchen

The 134th China Import and Export Fair (CIEF), also known as the Canton Fair, opened in southeastern city Guangzhou on October 15 with around 74,000 exhibition booths and over 28,000 enterprises, both higher than the last edition that opened this April.

The CIEF, started in early 1957, is a barometer of China’s foreign trade. It is held every spring and autumn for the past 65 years with an accumulated export volume of around 1.5 trillion USD.

The companies participating in the CIEF this time round are from 43 countries and regions. Around 60 percent of them are participants in the Belt and Road Initiative.

The fair is being held in three phases. The first phase from October 15 to 19 is a showcase for manufacturing products such as home appliances, consumer electronics, machinery and equipment, and new energy and other electromechanical products. The second and third phases will exhibit traditional labor-intensive products such as household goods, building materials and furniture, textiles and garments.

The second phase will be from October 23 to 27 and the third from October 31 to November 4.

More than 100,000 buyers from over 200 countries and regions have registered for the fair. About 140 prestigious enterprises with multinational businesses have confirmed their participation.

Around 4,900 enterprises are debuting in the fair this time. Nearly 680,000 new exhibits are expected at this round.

Officials from the Ministry of Commerce said at a press conference in September that the ministry is working with all localities and relevant departments to launch more practical initiatives to help foreign trade enterprises expand their markets. The target task is promoting stability and improving the quality of foreign trade for the whole year.