Visitors inquire about electronic products during the 123rd China Import and Export Fair, commonly known as the Canton Fair, in Guangzhou, south China's Guangdong Province, April 19, 2018. The first phase of the 123rd session of the Canton Fair concluded on Thursday. (Xinhua/Lu Hanxin)
GUANGZHOU, April 19 (Xinhua) -- The first phase of the 123rd session of the Canton Fair concluded on Thursday, showcasing a more open Chinese market and upgraded made-in-China products.
The fair, also known as the China Import and Export Fair, is the country's largest trade fair, considered a barometer of China's foreign trade.
The first phase, which runs from April 15 to 19, features products including home appliances, electronics and hardware, with major brands such as Haier and Midea showcasing their latest models.
Participating in the event, Steven Yu, CEO of American company Orient Fan Co, is looking for potential Chinese partners to bring a well-known American brand of fans to China.
He said the company is applying for a technology patent for the new products and technology so they can enter the Chinese market.
He is confident in the Chinese market, as the Chinese economy has been growing steadily and Chinese buyers now have great purchasing power.
Wang Guiqing, deputy head of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, said imports will grow in quantity as China pushes ahead with opening up.
"The imports of more advanced products will help push Chinese producers to improve their products in terms of structure and quality," he said.
During the fair, upmarket Chinese products -- pollution-absorbing air conditioners, automatic manicure machines, and furniture that can be customized with a remote control -- caught the eyes of foreign visitors.
The remote-control smart bathtub produced by Guangdong-based spa manufacturer Monalisa attracted many purchasers at the fair.
The products secured about 10 orders worth a total of 2 million U.S. dollars, according to the company.
"Made-in-China products will be able to win hearts globally with improved quality based on innovation," a salesman with the company said. The company is exploring the use of AI technology to develop more products.
Wang said as China's door opens wider, the country will invite both challenges and opportunities. By overcoming the challenges, Chinese companies will be able to offer better products and services to world consumers.
The latest data from the General Administration of Customs (GAC) showed that China registered sound growth in foreign trade for the first quarter, with the trade surplus shrinking.
The country's goods exports rose 7.4 percent year on year in the first three months while imports grew 11.7 percent.
The trade surplus stood at 326.18 billion yuan (about 51.95 billion U.S. dollars), a 21.8-percent drop year on year, GAC data showed.