AmCham HK has participated in the annual spring and autumn Canton Fair since 1974, more formally known as the China Import and Export Fair. First held in 1957, the Fair was postponed for the first time in 2020 due to the Covid-19 pandemic. In April 2020, the 127th Fair was postponed then held online for the first time in 63 years, to accommodate Covid-19, continuing until the 130th Fair in August 2021. AmCham Hong Kong took a raincheck too, and phase one of the 136th Canton Fair from October 15 to 19 marked its first visit since the Covid-19 hiatus.
The delegation, which visited Guangzhou and Dongguan from October 14 to 16, was co-led by AmCham President Dr Eden Woon and Matthew Hosford, China Business Committee Co-Chair and Principal Banking Specialist at International Finance Corporation in Hong Kong. The packed two day-mission visited the Canton Fair, toured the headquarters of XPeng Inc. (XPEV.US) in Guangzhou and the Dongguan campus of Techtronic Industries (TTI) (0669.HK).
Charles Cao, Canton Fair’s Permanent Representative of the Hong Kong Office, Zhang Jinsong, Director General of the Guangdong Department of Commerce, officials from the Canton Investment Development Commission in Guangzhou and Dongguan Vice Mayor Chen Qingsong met with the delegation.
At the Canton Fair, delegation members saw a variety of Chinese products ranging from new electric vehicles (NEV) to hardware tools and consumer electronics in the Canton Fair’s four vast halls. Over four decades, China’s export products have evolved from original equipment manufacturing (OEM) products to “Created in China” products with unique intellectual property. The full spectrum of Chinese manufacturing is on display here, making it important for buyers as well as observers of China’s industrial transformation since the 1950s.
Another highlight of the trip was a factory tour of TTI’s Asia Industrial Park in Dongguan. A cordless power tool maker that manufactures Milwaukee Tool, Ryobi, Dirt Devil, Hoover and Vax, TTI has factories around the world. The delegates were given a presentation on the company and its global supply chain presence, followed by a two-hour guided tour of different assembly lines and departments. At the end of the meeting, each delegate took away a swag bag that included a Milwaukee toolkit.
The trip was a reminder that despite trade frictions between China and the United States and China’s economic slowdown, it remains at the center of global supply chains and a vitally important source of business for global companies.
