The 19th China International Small and Medium Enterprises Fair concluded in south China's Guangzhou on Monday, generating nearly 100 billion yuan (13.81 billion U.S. dollars) in intended annual transactions.
Over 2,000 companies and international organizations from 35 countries and regions worldwide took part in this year's event, showcasing a diverse range of products, from food and beverages to consumer goods and textiles.
This year's event witnessed a surge in international participation, with more countries represented than the previous edition. Foreign exhibitors expressed enthusiasm for the vast Chinese market and expressed confidence in the future of their businesses in China
"We want to bring China and Germany closer together, and also enabling German companies to work closely with China and exploring the Chinese market," said Stephanie, an exhibitor from Germany.
"China market is actually very important to us. China has been Malaysia's largest trading partner for the past 15 years," said Mansor Shah Wahid, deputy chief executive officer of the Malaysia External Trade Development Corporation.
Stephen Kargbo, the United Nations Industrial Development Organization representative to China, emphasized the critical role of SMEs in driving global economic growth.
"China has demonstrated the importance of small and medium enterprises, and so has several other countries demonstrated. Economies in Europe, Asia, even in Africa thrive on the innovation of small and medium enterprises," said Kargbo.
Int'l SME fair concludes in Guangzhou, driving nearly 100 bln yuan in deals
Experts have commended the comprehensive development initiatives announced by Chinese President Xi Jinping on Monday at the 19th G20 Summit in Rio de Janeiro, Brazil.
Speaking at Session I of the G20 Summit on fighting hunger and poverty, Xi said China is ready to work with all parties to build a just world of common development, and outlined China's eight actions for global development.
The eight actions include pursuing high-quality Belt and Road (BRI) cooperation, implementing the Global Development Initiative, supporting development in Africa, supporting international cooperation on poverty reduction and food security, proposing the Initiative on International Cooperation in Open Science to help the Global South gain better access to global advances in science, technology and innovation, supporting the G20 in carrying out practical cooperation for the benefit of the Global South, implementing the G20 Anti-Corruption Action Plan, opening China's doors wider to the least developed countries.
"China is a big country, and it's a big country around the world. When China commits to something, I think it makes it easy for other countries to do it. Now I just heard in his speech, having a commitment to help the poor countries and poor people. Also through the Silk Road that China builds now, it will cross so many countries and so many cities around the world. When China focuses to help this community, to improving their economy, that will help," said Mohmmed Al-Bishi, editor-in-chief of Al Eqtisadiah, a leading economic and financial newspaper in Saudi Arabia.
"China's self-identity as a country is still as a Global South country. China sees itself a leader of the Global South. I think it is really important that the relationships that China has established with African countries, in particular, over the past 20 or 25 years. Those investment relationships are really significant in terms of supporting China's own transformation, but also in terms of transforming local economies in Africa as well. It seems to me that that commitment to sharing the benefits of an increasingly Chinese led globalization is really significant," said Matthew Bishop, senior lecturer in international politics at the University of Sheffield.
Created in 1999, the G20 is a main forum for international cooperation on financial and economic issues. It comprises 19 countries plus the European Union (EU) and the African Union (AU).
Experts laud initiatives outlined by Xi to support global development during G20 summit
