Published by ChinaMNC · Tunxi
Premier Li Qiang Highlights Three Upgrades for Foreign Businesses at Canton Fair 70th Anniversary
At the 'Canton Fair World 70 Years' symposium in Guangzhou, Premier Li Qiang outlined three trends for foreign companies: upgrading from trade to innovation, investment, and supply chain partnerships. He also announced plans for a smarter, greener, and more humanistic Canton Fair. Foreign founders can use these insights to navigate China's evolving business environment.
Premier Li Qiang Outlines Three Partnership Upgrades at Canton Fair 70th Anniversary
On October 14, Premier Li Qiang attended the “Canton Fair World 70 Years” symposium in Guangzhou, where he met with representatives of overseas buyers and exhibitors. The event marked seven decades of the Canton Fair, which Li described as a vital window for the world to observe China and a premier one-stop trade platform known for its comprehensive categories and efficiency.
For foreign founders considering registering a company in China or expanding operations, Li’s remarks provided practical insights into how the business landscape is evolving and what opportunities lie ahead.
Three Trends Shaping Foreign Business Engagement
Li noted that foreign companies participating in the Canton Fair are increasingly engaging in more diverse business activities and are gradually upgrading to comprehensive partnerships. He highlighted three notable trends that can help businesses better utilize the platform and seize opportunities in China’s development.
1. From Trade Partner to Innovation Partner
Foreign companies are moving beyond simple trade to collaborative innovation, allowing them to share in the benefits of technological progress. China plans to continue fostering an open innovation ecosystem, strengthen foreign-related intellectual property protection, and actively address corporate concerns. For founders, this signals a growing emphasis on IP safeguards and collaborative R&D opportunities.
2. From Trade Partner to Investment Partner
Many businesses are expanding from trade into investment, unlocking new market space. China will further optimize its foreign investment environment, broaden market access, and support foreign enterprises in localizing production. This trend is particularly relevant for founders looking to establish a local presence, as it may lead to more streamlined procedures and greater support for setting up operations.
3. From Trade Partner to Supply Chain Partner
Companies are also deepening their role in supply chains, enhancing resilience against risks and shocks. China is accelerating the construction of a modern industrial system and advancing the planning and building of new-type power grids, computing networks, and next-generation communication networks. Li welcomed foreign companies to invest more in China, deepen their market presence, and strengthen mutually beneficial supply chain cooperation. This points to opportunities in infrastructure-related sectors and supply chain integration.
Future Directions for the Canton Fair
Looking ahead, Li emphasized that at the new starting point of its 70th anniversary, the Canton Fair will be further enhanced. Three key initiatives were outlined:
- Smart Canton Fair: Developing new scenarios and tracks to increase the fair’s digital and intelligent content.
- Green Canton Fair: Introducing more green products and exhibition areas to promote green trade and contribute to global green transition.
- Humanistic Canton Fair: Highlighting cultural elements to foster exchanges and mutual learning among civilizations, deepening understanding and friendship.
These developments suggest that foreign founders should prepare for a more digitally integrated and sustainability-focused trade environment.
Voices from the Business Community
The symposium was attended by about 70 business representatives from nearly 30 countries and regions. Corporate representatives noted that over 70 years, companies from various countries have grown alongside the Canton Fair. They observed that amid deep restructuring of global supply chains, China’s manufacturing competitiveness is increasingly strengthening, making significant contributions to world economic development. The Canton Fair was described as the most trusted global business platform, and China’s continuous targeted policies and improving business environment were credited with helping companies achieve leapfrog development.
Foreign representatives expressed confidence in China’s development prospects and a willingness to work with China to share innovation, promote growth, and achieve mutual benefits.
Practical Implications for Foreign Founders
For foreign entrepreneurs planning to register a company in China or expand existing operations, Li’s remarks underscore several actionable areas:
- Leverage innovation incentives: With stronger IP protection and an open innovation ecosystem, founders can consider R&D partnerships or technology transfer arrangements.
- Explore investment opportunities: As market access broadens and localization is supported, setting up a wholly foreign-owned enterprise or joint venture may become more attractive.
- Integrate into supply chains: Opportunities in modern industrial systems, including power grids and computing networks, may open doors for supply chain collaboration.
- Align with fair upgrades: The push for smart and green trade suggests that founders should adopt digital tools and sustainable practices to stay competitive.
Before the symposium, Li visited the “Canton Fair World 70 Years” thematic exhibition and presented commemorative badges and certificates to representatives of long-time participants. The event was also attended by Huang Kunming and Wu Zhenglong.
This summary is based on information published by the relevant Chinese government website and is general information, not legal or tax advice.
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