Xi highlights China's commitment to opening up as Canton Fair opens

The 140th China Import and Export Fair (Canton Fair) opened in Guangzhou on Thursday, as President Xi Jinping called for deeper international economic cooperation and the safeguarding of global supply chains, highlighting China's commitment to opening up.

In a congratulatory letter marking the fair's 70th anniversary, Xi said over the past 70 years since its establishment, the Canton Fair has played a significant role in promoting trade exchanges between China and other countries, serving as an effective platform for China to expand high-level opening up and promote the building of an open world economy.

The message comes as China's foreign trade continues to expand.

According to data released by the General Administration of Customs on Wednesday, China's total imports and exports of goods rose 18.8% year on year to 39.94 trillion yuan ($5.97 trillion) in the first nine months of 2026, the fastest growth for the same period in five years.

Exports increased 16.4% to 23.2 trillion yuan, while imports grew faster, rising 22.3% to 16.74 trillion yuan.

Lyu Yue, vice dean of the School of International Trade and Economics at the University of International Business and Economics, told China Media Group (CMG) that China's trade resilience reflects strength on both the supply and demand sides.

"Chinese industries are turning technological advances into high-quality products that meet global demand, while the country's vast market creates opportunities for foreign businesses," Lyu said.

This demand-side strength is also reflected in China's role as a major importer.

The country has been the world's second-largest import market for 17 consecutive years, and its 15th Five-Year Plan (2026-2030) calls for more balanced import and export growth.

Trade growth has also extended across major partners.

China's trade with ASEAN reached 6.84 trillion yuan, up 22.7%, while trade with the European Union rose 8.4% to 4.78 trillion yuan.

Trade with other APEC economies increased 23.9% to 24.07 trillion yuan.

Intermediate goods accounted for more than half of China's exports in the first three quarters, while equipment manufacturing contributed nearly 90% of export growth, customs data showed.

These goods supply components and equipment to businesses across international production networks.