A record number of overseas buyers attended the 138th Canton Fair, which concluded on Tuesday, with US participation up 14% from the previous session despite ongoing trade tensions, reports Caixin. Established in 1957, the twice-yearly trade fair held in the southern metropolis of Guangzhou, is a big contributor to China’s exports, and widely viewed as an indicator of the country’s foreign trade.
Official data showed that more than 310,000 overseas buyers from 223 countries and regions attended the fair in Guangzhou—a 7.5% increase from the spring session and the highest in the event’s history. Intended export deals signed on-site totaled $25.7 billion, maintaining steady growth momentum, according to an official statement. Attendance from the European Union, the Middle East, and Brazil also rose sharply, up 32.7%, 13.9%, and 33.2%, respectively.
The rebound in American attendance marks a shift from the recent trend of US importers rerouting supply chains through Southeast Asia to avoid tariffs on Chinese goods. The change suggests that for many products, China’s manufacturing efficiency is once again outweighing the higher production costs and limited tariff savings of producing elsewhere.