Qidong sets new business turnover record at Canton Fair

At the recent 131st China Import and Export Fair, also known as the Canton Fair, Qidong – a county-level city administered by Nantong in East China's Jiangsu province – did exceptionally well, setting a record in terms of new business turnover.

Affected by the COVID-19 epidemic, the 10-day event, which came to a close on April 24, was held online.

During the fair, Qidong saw 49 of its resident companies debut in 19 exhibition areas, with the total number of its exhibitors increasing 308 percent on the previous session.

Overall, the turnover of orders that Qidong's participants received at the fair exceeded 150 million yuan ($22.9 million), an increase of 150 percent and a new record for the city.

In terms of the electric tool sector, the volume of transactions topped 110 million yuan, up 91.2 percent on the previous fair, with the star performer being Jiangsu Dongcheng Power Tools Co Ltd. It received orders worth 100 million yuan from Malaysia and Vietnam and other countries and regions.

The volume of business orders for Qidong's food and festival supplies sectors reached 26 million yuan and 7.65 million yuan, respectively.

Moreover, foreign trade companies in Qidong made full use of the opportunities brought about by the online Canton Fair, employing advanced information technologies to promote the city's products to new and seasoned buyers from home and abroad who participated, according to Yao Saihua, director of Qidong commerce bureau.