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Canton Fair Sourcing Trip to Dongguan: Economic Impact

The Canton Fair, held in China, has made significant strides in promoting foreign trade and supporting local economic growth. The recent sourcing trip organized from December 19 to 20, 2024, facilitated critical connections between multinational purchasing firms and local manufacturers in Dongguan, reflecting the Fair’s commitment to enhance global trade relationships.

This sourcing event saw participation from 24 leading international companies, which engaged with over 70 local manufacturers, resulting in an impressive total of intended purchase orders valuing approximately USD 62 million. The initiative was jointly orchestrated in collaboration with the Department of Commerce of Guangdong Province and the Bureau of Commerce of Dongguan City, showcasing a robust partnership to advance local economic development.

Dongguan is celebrated as a manufacturing powerhouse in China, characterized by its comprehensive industrial networks, powerful supply chains, and an efficient logistics system. Within this city, Dalang is famously referred to as the “Wool Capital of the World,” emphasizing its dominance in textile production, while Songshan Lake stands out as a hub for high-tech industries, particularly in electronic information and the digital economy.

During the sourcing trip, attendees had the opportunity to visit various factories, engage in promotional activities, and partake in negotiations that highlighted local products and services. A dedicated exhibition area showcased over 300 samples from local suppliers, focusing on household appliances, apparel, and luggage, offering a tangible experience of the region's manufacturing capabilities.

In 2024, the Canton Fair facilitated more than 700