The year 2023 marks the 10th anniversary of the proposal of the Belt and Road Initiative. The exchanges between China and the countries involved in BRI have become a hot topic in all exhibition areas of the ongoing 133rd Canton Fair.
From 2013 to 2022, the trade volume of between China and the BRI countries has expanded from $1.04 trillion to $2.07 trillion, with an average annual growth rate of 8 percent. In the first quarter of 2023, China’s imports and exports to such countries reached 3.43 trillion yuan ($498 billion), accounting for 34.7 percent of China’s overall foreign trade.
It has become a consensus among Chinese trade delegations to guide exhibitors to focus on BRI countries and promote enterprises’ own brands to enter the markets. Foreign trade enterprises have a stronger desire to explore the markets and enhance new growth through new channels.
Jiabao’s optimism mainly originated from two points. First, the company has invested a lot of resources in developing its own brand. Second, it has been looking for new growth drivers in overseas markets through technological innovation and product upgrades.
A company manager said that after conducting surveys on the new products that had been put into the market earlier, the overall effect was good; and some products were selling very well. Old customers are constantly placing orders and the local market recognition is also increasing.
For BRI countries such as Russia, Poland and Bulgaria, Guangzhou Xujohn is providing Christmas-themed products that are tailored to local features and demands, while also stepping up invitations to customers from such countries.
“At the fair, we have more than 30 new products in the personal care section on display. Customers have showed great interest in the products after reading the introduction. We are confident in meting an explosive growth.” a manager of the company said.
“Since participating in Canton Fair in 2018, our products have been sold in more than 80 countries. The company appreciates the platforms provided by Canton Fair and has made good use of them,” the manager said.
Despite the three years of the COVID-19 pandemic, Xujohn has never stopped exploring new markets and new customers. In addition to the market of BRI countries and regions, Xujohn also established a new 1,800-square-meter research and development center in 2022 with focuses on safety, environmental protection and patent development.
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