Published by ChinaMNC · Guangming

Guangzhou Trade Fair at 70: What Premier Li Qiang's Remarks Signal for Foreign Founders Building in China

A practical readout for foreign founders on the 140th Canton Fair opening, Premier Li Qiang's three observations and three commitments, and what they suggest for market entry, importing and cross-border operations in China.

The 140th Canton Fair: Context for Foreign Founders

On the afternoon of 14 October, Premier Li Qiang attended the opening ceremony of the 140th China Import and Export Fair (Canton Fair) in Guangzhou and delivered a keynote address, according to Xinhua. The current session features more than 30,000 exhibiting companies and roughly 340,000 overseas buyers registered to attend. More than 700 representatives from nearly 90 countries and regions attended the opening. For founders evaluating a China entity, a sourcing arm or a sales subsidiary, the speech is worth reading as a statement of policy direction rather than a set of rules.

Li noted that this year marks the 70th anniversary of the fair's founding and that President Xi Jinping sent a congratulatory letter reaffirming China's commitment to high-level opening. Li described the fair as a window through which observers can see the vitality of China's economy and society and the growing links between China and the world. He characterised China as increasingly open, continuously innovating and honouring its commitments — a framing that, for founders, translates into expectations about market access, regulatory predictability and cross-border trade.

Three Observations That Matter for Market Entry

1. Market connectivity is presented as growth, not leverage

Li argued that linking markets should be treated as a way to create additional value rather than as a bargaining tool. He said China aims to keep integrating its domestic market with international markets so both grow together within an open world economy. Practical reading: founders selling into China or sourcing from it should expect continued emphasis on two-way flows — imports as well as exports — rather than a one-directional export platform.

2. Trade is framed around welfare, with China as both buyer and seller

Li said international trade should be seen as a choice that improves living standards rather than a set of accounting figures. He described China as both a major seller and a major buyer, and said the effect on partners is mainly one of benefiting and enriching neighbours. He stated China's willingness to import more quality products, especially higher value-added goods, and encouraged more countries to move in the same direction and relax restrictions so trade becomes better balanced. Practical reading: foreign founders with consumer, industrial or high-value products may find a receptive narrative for import-led entry, though actual market access still depends on the applicable rules.

3. Mutual benefit is described as mutual enablement

Li said win-win outcomes are not one-sided concessions but mutual achievement. He noted China's position as the largest developing country, said it has sought to support other developing countries alongside its own development, and described China as a reliable long-term partner for developing countries on the path to modernisation. Practical reading: founders from emerging markets may hear an explicit invitation to engage, but the speech contains no specific preferential terms.

Three Commitments: What Founders Should Watch

• More market opportunity. Li said China will firmly implement a strategy of expanding domestic demand and further lower market access thresholds, and welcomed more foreign enterprises to invest and operate in China. For founders, this points to the registration and licensing stage — sector-specific thresholds remain the key variable to check before committing capital.
• More mutually beneficial cooperation. He said China will deepen alignment of development strategies with other countries and support capable Chinese companies to invest overseas in an orderly way. Founders should note this cuts both ways: it signals outbound Chinese investment and partnership opportunities as well as inbound welcome.
• Defending the international trade order. Li said China will uphold multilateralism and free trade, support reform and development of the World Trade Organization, and work with all parties on future-oriented international trade rules and inclusive economic globalisation. For cross-border operating structures, this suggests continuity in the rules-based framework that founders rely on for customs, tariffs and dispute handling.

The WTO Dimension

WTO Director-General Ngozi Okonjo-Iweala delivered remarks by video, saying China's development has produced major achievements and offered rare opportunities to the world, and that the Canton Fair is an important platform connecting China and the world. She said that amid rising global uncertainty she hopes all parties will advance WTO reform and build an open, rules-based global trading system. Founders weighing jurisdiction and supply-chain risk should treat this as a signal of continued official support for the multilateral trading system, not as a guarantee of specific outcomes.

Checklist Before You Register

• Clarify your direction of trade. Decide whether your China entity is primarily a sourcing hub, a sales subsidiary, or both — the speech emphasises two-way flows, and your registration scope should match.
• Map sector access thresholds. The commitment to lower market access thresholds is a direction of travel; verify the current negative list and licensing requirements for your industry before incorporation.
• Attend or track the fair. With over 30,000 exhibitors and about 340,000 overseas buyers expected, the Canton Fair remains a practical venue for supplier due diligence and partner meetings.
• Build for rules-based trade. Given the emphasis on WTO reform and future-oriented trade rules, structure customs, transfer pricing and contract documentation conservatively.
• Watch for follow-through. Policy statements set expectations; implementing measures at the ministry and local level determine what actually changes for your entity.

After the ceremony, Li toured the fair's enterprise pavilion. Huang Kunming and Wu Zhenglong also attended the events, according to the report.

This summary is based on information published by the relevant Chinese government website and is general information, not legal or tax advice.