China's exhibition sector is on a quick growth track, as indicated by the increased number of expositions, exhibition areas and enterprises holding expos at home and abroad, said officials and industry experts.
During the past year, the country's exhibition economy has recovered, and the domestic exhibition market has rapidly resumed its growth trajectory following the effect of the COVID-19 pandemic, said Li Qingshuang, deputy head of the China Council for the Promotion of International Trade.
Li made the remarks during the ongoing 19th China Expo Forum for International Cooperation in Nanchang, East China's Jiangxi province, that concludes on Friday.
The CCPIT issued an annual report on China's exhibition industry at the forum.
According to the report, in 2023, China's economic and trade expos resumed to the level seen before the pandemic, with the number of economic and trade expos surging 117.1 percent year-on-year to 3,923. The number was 10.6 percent higher than the level in 2019.
The total exhibition area of such expos was 141 million square meters, 153.3 percent and 8.25 percent higher than the level in 2022 and 2019, respectively.
Meanwhile, according to the report, enterprises have begun to venture overseas again to participate in exhibitions and increase their market share.
In 2023, the CCPIT evaluated 1,240 overseas exhibition applications, among which 900 were carried out. A total of 39,600 enterprises were involved, covering an exhibition area of 572,200 sq m. Asia and Western Europe were the main destinations.
"National-level expos, such as the China International Import Expo, the China Import and Export Fair, and the China International Consumer Products Expo, have boosted the recovery of the exhibition industry, and the actual number and utilization rate of exhibition halls have significantly increased," said the report.
Vincent Polito, CEO of the Society of Independent Show Organization, said that China has become a global engine for growth.
"China's strength, including the ability to adapt and innovate in major sectors including technology, electronics, fashion and healthcare, is making the country a prominent engine of growth. China remains a key link in the supply chain. It navigated the challenges in the last few years and will be at the forefront of growth in 2024," he said.
Lin Shunjie, Party secretary and board chairman of Beijing-based China International Exhibition Center Group Ltd, said: "The exhibition industry is a weather vane of the economy. China's exhibition industry encountered challenges due to the effect of the pandemic. After a certain period of adjustment, Chinese enterprises will surely continue to contribute to a safe, stable and resilient global supply chain."
To maintain the stability and flow of the global industrial and supply chains, and promote the recovery and growth of the global economy, there should be more specialized exhibition activities to fully leverage the leading role of the exhibition industry in bolstering trade, Li from the CCPIT said.
"Using green design and digital technologies, including cloud computing, big data and the internet of things, we should promote the integration of green exhibition and digital exhibitions. In addition, we should improve the level of openness in the exhibition industry, strengthen exchanges and cooperation between international organizations and leading enterprises in various countries, and help build an open world economy," she added.
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