1,947 biz expos, 47.196 million square m of area in H1 demonstrate the country's value to trade.
China's ongoing endeavors to optimize the business environment and the surge of technological-intensive green products will be a pivotal factor in boosting exports and attracting foreign investment, said market watchers and industry players.
The exhibition industry in China has seen a robust resurgence in the past few months. A total of 1,947 exhibitions were held nationwide in the first half, marking a 3.9-fold year-on-year growth and a 13.9 percent growth compared to 2019.
In the first half, China saw its total exhibition space expand to 47.196 million square meters, a 4.7-fold expansion year-on-year and a 24.9 percent increase compared to 2019.
To tackle challenges such as softening demand in many countries, the disruption of global supply chains, geoeconomic challenges and a decrease in cross-border investment, the holding of trade fairs in key sectors is conducive to enhancing cooperation and sharing opportunities among businesses from various countries, said Lin Shunjie, the board chairman of China International Exhibition Center Group Ltd.
To further unlock the potential of foreign investment in the domestic market, the China Council for the Promotion of International Trade, the country's top foreign trade and investment promotion agency, and China International Exhibition Center Group, will hold the first China International Supply Chain Expo in Beijing from Nov 28 to Dec 2, the country's highest foreign trade and investment promotion agency, China International Exhibition Center Group.
Lin said that the expo will promote the organized and efficient interconnection of industries among countries and help create a robust global industrial and supply chain.
Messe Frankfurt, one of the world's largest trade fairs and eventorganisers for sales revenue, will hold more than 40 business exhibitions on the Chinese mainland this year and 2024. In 2022, the German company managed to hold only 11 trade fairs in China due to the pandemic's impact.
China's fast-growing exhibition economy, ongoing green transformation, domestic companies' willingness to expand in global markets and the tangible benefits generated by the Regional Comprehensive Economic Partnership agreement offer many opportunities, said Wendy Wen, managing director of Messe Frankfurt Ltd.
Wen added that companies from industries such as auto parts, new energy vehicles, new materials, metallurgies, trade in services, garments and textiles are seeing soaring demand to expand sales and strengthen their brand awareness via participating in various business exhibitions, which will be held in Asia-Pacific next year.
The company, based in Frankfurt, will hold several trade fairs and events on the Chinese mainland, such as the International Exhibition for Musical Instruments and Services in October and the China International Stationery & Office Supplies Exhibition in November in Shanghai.
The RX, formerly known as Reed Exhibitions, will hold 75 business exhibitions across China this year in an effort to boost exports and improve competition with global rivals.
Since made-in-China vehicles are gaining more popularity both in domestic and overseas markets, automotive manufacturing - particularly advancements in new energy vehicles, internet-connected vehicles, car electronics, smart cockpits and autonomous driving - has been an exciting application industry that the company is interested in, said Hugh Jones, RX's CEO.
The sector is expected to drive exports and serve as a major pillar of the country's economic growth, he said.
Qu Weixi, the vice president of the China-based Academy of International Trade and Economic Cooperation, said that the exhibition industry inherently integrates the downstream and upstream sectors of various industries, paving the way for a more comprehensive and upscale development trajectory.
Moreover, it serves as a vital bridge and connector within global industrial and supply chains, he said.
China will launch big-ticket trade fairs such as the 134th China Import and Export Fair - Canton Fair - in Guangzhou, Guangdong province in October and the sixth China International Import Expo in Shanghai in November, the ministry said.