China’s first online Canton Fair, 2020 Canton Fair time

The 7th Canton Fair will be held online in the middle and late June, according to the decision of the executive meeting of the State Council held on July 7. This will be the first time that China’s oldest trade event has been fully held in the form of Internet, so that Chinese and foreign businessmen can place orders and do business without leaving home.

China's first online Canton Fair, 2020 Canton Fair time

At present, the novel coronavirus pneumonia epidemic is spreading all over the world, and the situation is grim. The meeting decided to invite customers at home and abroad to show their products online, use advanced information technology, provide all-weather online promotion, supply and purchase docking, online negotiation and other services, and build an online foreign trade platform for high-quality and characteristic commodities.

“Holding the” online Canton Fair “is a new attempt under special conditions and background.” Zhuang Rui, vice president of the International Economic Research Institute of the University of foreign trade and economic cooperation, said that on the one hand, Chinese and foreign businessmen have strong demands and demands, and continue to do business with the help of Guangzhou Fair, an internationally recognized important trade platform; on the other hand, the development of China’s digital economy makes it possible for us to hold “online Guangzhou Fair”.

Zhang Yansheng, chief researcher of the China International Economic Exchange Center, believes that holding the “online Canton Fair” can make trade free from the restrictions of booths, negotiation rooms, hotels and other factors. What’s more, trade in the past is volume, and in the future it will be more intensive. “The” online Canton Fair “can provide such an opportunity for cloud computing, big data, industrial Internet of things, etc. to better promote the high-quality development of trade in practice.”

Under the epidemic situation, how to stabilize the basic market of foreign trade and foreign investment? At the same day’s meeting, several important measures were launched, involving the establishment of a comprehensive cross-border e-commerce pilot area and support for processing trade.

It was decided at the meeting that, on the basis of 59 cross-border e-commerce comprehensive pilot areas, another 46 cross-border e-commerce comprehensive pilot areas will be established. Lao anling, director of the e-commerce research center of Shanghai University of Finance and economics, believes that through the expansion of the comprehensive pilot area of cross-border e-commerce, with the advantages of cross-border e-commerce policies as a buffer, and with the help of preferential policies such as tax, foreign trade enterprises in various regions can get through difficulties.

The meeting launched three measures to support processing trade enterprises to relieve difficulties: first, domestic sale of bonded materials and parts or finished products in processing trade, and temporary exemption of interest on tax delay before the end of the year. Second, we should expand the pilot projects in which processing trade enterprises can choose to pay tariffs on imported materials or finished products for domestic sales to all comprehensive bonded areas. Third, we need to expand the scope of industries that encourage foreign investment and narrow the categories of prohibited goods in processing trade.

Experts believe that the series of measures launched by the conference are the continuation and supplement of the previous policy, which will help to cope with the severe situation and effectively stabilize foreign trade and foreign investment.

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