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China Signals Open Market, Trade Cooperation at 140th Canton Fair: Key Takeaways for Foreign Founders
At the 140th Canton Fair, Premier Li Qiang outlined China's commitment to high-level openness, market access, and international trade cooperation. Here's what foreign founders need to know about registering and operating a company in China.
China Signals Open Market, Trade Cooperation at 140th Canton Fair
On October 14, Premier Li Qiang attended the opening of the 140th Canton Fair in Guangzhou and delivered a keynote speech. The event, marking the fair's 70th anniversary, highlighted China's ongoing efforts to expand openness and deepen international trade ties. For foreign founders considering company registration or operations in China, the speech offers signals on market access, import opportunities, and regulatory direction.
Openness and Market Opportunities
Premier Li emphasized that China will continue to pursue high-quality development and expand high-level openness. He outlined three key areas:
- Sharing market opportunities: China will firmly implement its strategy of expanding domestic demand and further lower market access thresholds. Foreign enterprises are welcome to invest and establish businesses in China.
- Expanding mutually beneficial cooperation: China will deepen alignment of development strategies with other countries and support capable Chinese enterprises to invest overseas in an orderly manner.
- Safeguarding the international trade order: China will uphold multilateralism and free trade, support the reform and development of the WTO, and work with all parties to explore future-oriented international trade rules and promote inclusive economic globalization.
These points suggest a continued focus on attracting foreign investment and facilitating cross-border trade, which could benefit foreign founders looking to enter the Chinese market.
Trade as a Driver of Mutual Benefit
Li described the Canton Fair as a window into China's economic vitality and its growing connections with the world. He noted that China, as both a "super seller" and "super buyer," brings "neighbor-benefiting" and "neighbor-enriching" effects to all parties. China is willing to import more high-quality products, especially high-value-added ones, and hopes more countries will move in the same direction, relax restrictions, and promote balanced trade development. This signals potential demand for imported goods and services, creating opportunities for foreign companies in sectors such as consumer products, technology, and advanced manufacturing.
Li also stressed that mutual benefit is not a one-way compromise but a process of mutual empowerment. As the largest developing country, China remains committed to common development and will continue to support other developing countries.
WTO Perspective and Global Context
WTO Director-General Ngozi Okonjo-Iweala delivered a video address, noting China's development achievements and the opportunities they present to the world. She highlighted the Canton Fair as an important platform connecting China and the world and called for joint efforts to reform the WTO and build an open, rules-based global trading system amid rising global uncertainty.
The opening ceremony was attended by over 700 representatives from nearly 90 countries and regions. This year's Canton Fair features more than 30,000 exhibitors and approximately 340,000 overseas buyers, underscoring the scale of international interest in China's market.
Practical Implications for Foreign Founders
Based on the speech and the fair's context, foreign founders can consider the following practical points:
- Market access: China's commitment to lowering market access thresholds may ease entry barriers for foreign investors in certain sectors. Keep abreast of sector-specific regulations and negative lists.
- Import and export: With China's willingness to import more high-quality products, foreign founders in consumer goods, high-tech, and other high-value-added sectors may find opportunities to export to China or establish local operations.
- Trade shows as entry points: The Canton Fair remains a key platform for networking and market testing. Participating or attending can help foreign founders understand market demand and connect with potential partners.
- Regulatory environment: China's support for multilateral trade rules and WTO reform suggests a continued focus on a rules-based business environment, which can provide predictability for foreign investors.
Foreign founders should note that specific procedures for company registration, licensing, and operations are governed by detailed regulations. It is advisable to consult professional services for compliance.
Conclusion
The 140th Canton Fair and Premier Li's remarks reaffirm China's direction toward greater openness and international economic cooperation. For foreign founders, this environment presents both opportunities and the need for careful navigation of local regulations. Staying informed about policy signals and leveraging platforms like the Canton Fair can support market entry strategies.
This summary is based on information published by the relevant Chinese government website and is general information, not legal or tax advice.
For assistance with registering and operating a company in China, foreign founders can contact ChinaMNC on WhatsApp / WeChat at +86 153 1898 8535.