Published by ChinaMNC ยท Xiuning
Premier Li Qiang at the Canton Fair 70th Anniversary Symposium: What Foreign Founders Should Know
A practical briefing for foreign founders on Premier Li Qiang's remarks at the Canton Fair 70th anniversary symposium in Guangzhou, covering the shift from trading to innovation, investment and supply-chain partnerships, and China's stated support for foreign-invested firms.
Premier Li Qiang Attends Canton Fair 70th Anniversary Symposium in Guangzhou
On the morning of 14 October in Guangzhou, Premier Li Qiang attended a symposium marking 70 years of the Canton Fair, according to Xinhua. Before the meeting he toured an exhibition on the fair's 70-year history and presented commemorative badges and certificates to long-standing participants. Huang Kunming and Wu Zhenglong also took part.
About 70 business representatives from nearly 30 countries and regions joined the discussion. The event is significant for foreign founders because the Premier used the occasion to describe how the government expects foreign companies to engage with the Canton Fair and the wider China market. The following briefing translates the main points into practical considerations for founders who are registering a company in China or already operating one.
Why the Canton Fair Matters for Foreign Founders
Li described the Canton Fair as having grown alongside China's opening-up and development over seven decades. In his account it has become both a prominent symbol of China's openness and an important channel through which the world observes the Chinese market. He characterised it as a one-stop trade platform with a broad range of product categories and efficient processes, bringing together the latest products and technologies. In his words, it serves as a major venue for traditional goods trade and also as a bellwether for newer forms of trade.
For founders, the practical implication is that the Canton Fair is presented as a place to observe product trends and meet partners across many categories at once, rather than a single-sector show.
Three Upgrades: What the Government Is Signalling
Li said that business among participating companies has become more diversified and is gradually upgrading toward all-round partnerships. He identified three trends that he said could help companies make better use of the platform and capture opportunities in China's development.
1. From Trading Partner to Innovation Partner
Li said companies that move from trade toward innovation cooperation can better share in the benefits of technological progress. He stated that China will continue to build an open innovation ecosystem, strengthen the protection of foreign-related intellectual property rights, and actively address enterprise concerns. For founders with technology or IP at the core of their China strategy, this signals that IP protection is at least a stated policy priority.
2. From Trading Partner to Investment Partner
According to Li, deepening from trade into investment can open more incremental market space. He said China will continue to improve the foreign investment environment, expand market access, and support foreign companies in localising production. Founders considering a wholly foreign-owned enterprise or a joint venture should note the emphasis on localisation, which often affects how a business structures manufacturing and staffing.
3. From Trading Partner to Supply-Chain Partner
Li said closer supply-chain cooperation can strengthen resilience against risks and shocks. He stated that China will accelerate the building of a modern industrial system and advance planning and construction of new-type power grids, computing networks, and next-generation communications networks. He welcomed foreign companies to invest more in China, deepen their presence, strengthen mutually beneficial and practical supply-chain cooperation, and help build an open and inclusive global supply chain.
He also expressed the hope that Chinese and foreign companies will promote alignment of global supply and demand, lead international innovation cooperation, and contribute to world economic and trade cooperation.
Three Directions for the Canton Fair Itself
Describing the 70th anniversary as a new starting point, Li said the Canton Fair's standing as a flagship event should be further strengthened in three ways:
- Smart Canton Fair: developing more new scenarios and tracks, and raising the fair's digital and intelligent content.
- Green Canton Fair: introducing more green products and exhibition areas, promoting green trade, and contributing to the global green transition.
- Humanistic Canton Fair: highlighting the human and cultural dimension of the exhibition, promoting exchanges and mutual learning among civilisations, and deepening mutual understanding and friendship.
For founders, these directions suggest where exhibitor content and programming may evolve, which can inform decisions about which sessions and product categories to prioritise.
What Business Representatives Said
Company representatives said that over 70 years businesses from many countries have grown together with the Canton Fair. They noted that global supply chains are undergoing deep restructuring, that the competitiveness of Chinese manufacturing is strengthening, and that this contributes to world economic development. They described the Canton Fair as a highly trusted global business platform, and said the Chinese government continues to apply targeted policies and improve the business environment, helping companies achieve leapfrog development.
Foreign representatives said the Canton Fair empowers Chinese and foreign companies, expressed confidence in China's development prospects, and said they are willing to work alongside China, share innovation and pursue mutual benefit.
Practical Takeaways for Foreign Founders
Based on the remarks, founders may wish to consider the following, while noting that the source sets out policy direction rather than binding commitments:
- Map your China presence against the three upgrades. Decide whether your current model is purely trading, and whether an innovation, investment or supply-chain step is appropriate to your business.
- Treat IP protection as a planning item. The Premier referenced stronger foreign-related IP protection; founders should still build their own IP strategy and documentation.
- Review localisation plans. Support for localised production may affect where and how you set up operations and hire staff.
- Watch infrastructure priorities. Power grids, computing networks and next-generation communications were named as construction priorities, which may be relevant to sector selection and site planning.
- Use the fair as a market-sensing tool. The stated focus on digital, green and cultural dimensions can help you plan which exhibitions and partners to engage.
Founders should verify current registration, investment and tax requirements with qualified professionals, as the source does not set out procedural rules.
This summary is based on information published by the relevant Chinese government website and is general information, not legal or tax advice.