Canton Fair Highlights Chinese R&D Capability with Self-owned Brands
GUANGZHOU, China, July 1, 2019 /PRNewswire/ — The China Import and Export Fair (Canton Fair or “the Fair”) has seen a significant trade opportunity for self-owned brands. The Fair’s Brand Zone has achieved trade volume of USD 8.56 billion at its recently-closed 125th exhibition, accounting for 28.8 percent of total turnover.
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Xu Bing, Spokesperson of the Canton Fair and Deputy Director General of China Foreign Trade Centre, noted that although facing uncertainty under the current trade environment, companies at the Canton Fair have presented their accelerated research and development capability offering technological breakthroughs, product innovations and brand cultivation by showcasing quality and value-added self-owned branded products at the Fair.
Buyers at this year’s Fair showed a growing interest in home-grown technologies, with an emphasis on quality and service rather than price. Some of the best sellers this year included a robot vacuum, real-time voice translator, virtual reality gaming and full-screen home theatre devices.
Innovation and creativity in design were especially pronounced in the textile industry this year. Companies, such as Shanghai Silk Group Co., Ltd, a clothing giant in China, noted that product development has become essential to production. Shanghai Silk Group has registered a trademark for its private brand Lily in more than 80 countries and is now opening stores in the Belt and Road Initiative (BRI) countries. Its presence at this year’s Canton Fair has helped the company receive orders from 50 countries.
Value-added products are also widely received by international businesses at the Fair. Pearl River Bridge, one of the earliest brands of Soy Sauce for the global market, now presents in over 120 countries and regions, launched the brands first organic soy sauce and gluten-free product range as a response to growing demand. The demonstration of its innovation development at the Canton Fair has helped establish businesses in BRI countries and raise profits in Russia by more than 10 percent.
For more information, visit: http://www.cantonfair.org.cn/en/index.aspx
The China Import and Export Fair, also known as the Canton Fair, is held biannually in Guangzhou every spring and fall. Established in 1957, the fair is now a comprehensive exhibition with the longest history, highest level, largest scale and largest number of products as well as the broadest distribution of buyer origins and the highest business turnover in China.