Twin trade events show China will not close its doors in face of tariff attack

Buyers visits the exhibition section for household electrical appliances during the 136th China Import and Export Fair in Guangzhou, South China's Guangdong province, Oct 15, 2024. [Photo/Xinhua]

This is an editorial from China Daily.

While the United States tries to create a new trade order that is exclusively beneficial to itself with its so-called reciprocal tariffs, more than 30,000 domestic companies and over 200,000 overseas buyers are attending the 137th China Import and Export Fair, which opened in Guangzhou, Guangdong province, on Tuesday. Their participation is testimony to a common desire that the global economy and international trade should be mutually beneficial.

At a time when the US administration's bullying and threats are creating increasing uncertainty, the Canton Fair, as it is commonly known, is being widely viewed as a "barometer" of China's continued commitment to opening-up and its willingness to share its development opportunities with the world.

Forty-plus years ago, when China launched its reform and opening-up policy, the event was mainly a market for foreign buyers to purchase agricultural produce, handicrafts and local specialties, and a window for the Chinese to see the outside world. Now it has become a major platform for multinational companies to access the Chinese market, and promote cooperation between foreign entities with their partners in the world's second-largest economy.

Highlighting this transformation, the event this year has for the first time set up a service robot zone, reflecting the new pulse of the industry. And other emerging industry-related exhibition zones that are catching high attention include smart-life products, smart logistics and warehousing equipment, digital factories and smart manufacturing production lines, wind energy, hydrogen energy and other new energy products, and smart travel-related technologies. Notably, the number of enterprises with titles such as national high-tech, specialized and new "little giants", and manufacturing champions in their respective niche exceeds 9,700, an increase of 20 percent over the previous event.

The fair is also promoting face-to-face inter-business, inter-company, inter-lab and inter-person exchanges in recognition of vitality and impetus that such exchanges can create. China is more than willing to provide the platform for such interactions, as it firmly believes the future belongs to those who are willing to cooperate and collaborate. It is with that belief that the country is doubling down on its efforts to promote new quality productive forces, cultivate new foreign trade momentum, and optimize its foreign trade structure, the achievements of which are vividly reflected in the new exhibits being showcased at the fair.

It is this spirit that has not only enabled the phenomenal rise of new kids on the tech-block, such as DeepSeek, but also generated an insatiable industrial and market yearning for collaboration and openness as a means to innovations. Although the protectionist policies of some countries might hinder trade temporarily, they cannot kill that desire as it is a fundamental part of human nature and social progress.

Chinese policymakers are committed to creating a world-class business environment featuring stability, predictability and transparency to facilitate cooperation and collaboration among market entities, so they can transform ideas, initiatives, plans and projects into results. So those viewing the fair as a barometer of China's openness in the wake of the US administration's tariff barrage will see it reads no change.

Another large-scale event being held at the same time that is also a strong proof of that is the Fifth China International Consumer Products Expo, which opened in Haikou from Sunday to Friday. Attracting more than 4,100 brands from around the world, the event demonstrates the scale advantages and upgrading potential of China's consumer market in multiple fields such as green, smart, health and digital consumption. In doing so, it is serving to reaffirm China's position as a vital marketplace for multinational enterprises.

China's economy is as vast as the ocean, not only because of its huge population and complete industrial system, but more importantly because of its openness to the world. Although the country still has some way to go to become the better self it aims to be in economy, trade and technology, it has never ceased its endeavors in that regard. As part of those efforts, it has been and will continue to be committed to maintaining the stability of the global industry and supply chains, and fostering a fair world trade order.

Taken together, the message sent by the two events is that openness and cooperation are the general trend, and rather than retreating into unilateralism and protectionism in the face of the US onslaught on international trade and economic partnerships, China will continue to work with other like-minded countries to defend the multilateral trading system.