Published by ChinaMNC · Longhua

Canton Fair at 70: What Premier Li Qiang's Opening Speech Signals for Foreign Founders in China

A practical briefing for foreign founders on the 140th Canton Fair opening, Premier Li Qiang's remarks on market access, trade and investment, and what the signals mean for registering and operating a company in China.

Why This Canton Fair Matters to Foreign Founders

The 140th session of the China Import and Export Fair, widely known as the Canton Fair, opened in Guangzhou on the afternoon of 14 October. Premier Li Qiang attended the opening ceremony and delivered a keynote speech, according to Xinhua. For foreign founders weighing whether to register a company in China, exhibit at the fair or source from Chinese suppliers, the speech is worth reading closely: it sets out the government's stated priorities on market access, imports, outbound investment and trade rules.

This session also marks the 70th anniversary of the fair's founding. President Xi Jinping sent a congratulatory letter that affirmed the fair's achievements and restated China's stated commitment to expanding high-standard opening up, the report said.

What Premier Li Qiang Said

The fair as a window on China

Li described the Canton Fair as a window through which observers can see the vitality of China's economy and society, the progress of its people, and the deepening ties between China and the rest of the world. He characterised China as increasingly open, continuously innovating and honouring its commitments, and said this brings new opportunities, new momentum and certainty to the world.

Three lessons drawn from 70 years

Li drew three broad points from the fair's history:

• Market connectivity is not a bargaining chip. He said China aims to integrate its domestic market with international markets so they grow together, and to build an open world economy.
• Trade is more than numbers on a ledger. Describing China as both a "super seller" and a "super buyer", he said the effect on partners is mainly one of benefiting and enriching neighbours. China is willing to import more quality products, especially higher value-added goods, and hopes more countries will move in the same direction and relax restrictions to promote more balanced trade.
• Mutual benefit is not one-sided concession. Li said China, as the largest developing country, has sought to support other developing countries alongside its own development, and will remain a reliable friend to them.

Three stated priorities

Li set out three areas of action:

• Sharing market opportunities. China will implement its strategy of expanding domestic demand and further lower market access thresholds. He welcomed more foreign enterprises to invest and operate in China.
• Expanding mutually beneficial cooperation. China will align its development strategies with other countries and support capable Chinese companies to invest overseas in an orderly way.
• Upholding the international trade order. China will support multilateralism and free trade, back reform and development of the WTO, and work with all parties on future-oriented international trade rules and inclusive economic globalisation.

The WTO perspective

WTO Director-General Ngozi Okonjo-Iweala delivered remarks by video. She said China's development has produced major achievements and rare opportunities for the world, and described the Canton Fair as an important platform connecting China with the world. Amid rising global uncertainty, she called on all parties to advance WTO reform and build an open, rules-based global trading system.

Practical Takeaways for Foreign Founders

1. Market access is the stated direction — verify specifics locally

The speech signals continued lowering of market access thresholds and an explicit welcome to foreign investment. For founders, that is a directional signal, not a licence. Sector-specific rules, negative lists and local registration requirements still govern what a foreign-invested company may do. Confirm the current position for your industry with your own advisers before committing capital.

2. The fair is a sourcing and partnership channel

This session hosts more than 30,000 exhibitors, with about 340,000 overseas buyers expected to attend, according to the report. For founders building supply chains, the fair is a concentrated way to meet suppliers, compare categories and test product quality in person. Plan meetings in advance and treat the fair as the start of due diligence, not the end.

3. Import interest favours higher value-added goods

Li said China is willing to import more quality products, particularly higher value-added ones. Founders selling into China should note the emphasis on value-added categories, while recognising that import compliance, labelling, certification and customs procedures remain the practical gateways.

4. Outbound investment by Chinese firms creates partnership options

The stated support for capable Chinese companies investing overseas in an orderly way may create joint-venture, licensing or distribution opportunities for foreign founders whose home markets are of interest to Chinese firms. Such arrangements are commercial negotiations, not entitlements.

5. Watch the trade-rules agenda

China's stated support for WTO reform and for future-oriented trade rules matters for founders exposed to tariffs, rules of origin and cross-border data flows. Policy direction can shift; monitor official announcements rather than relying on a single speech.

What the Speech Did Not Say

The report contains no new tax incentives, no specific timelines for regulatory changes, and no sector-by-sector commitments. Founders should avoid reading the speech as a guarantee of approvals, timelines or treatment. It is a statement of priorities by the Premier at a major trade event.

Suggested Next Steps

• If you are evaluating China entry, map your sector against current foreign investment rules and confirm whether a wholly foreign-owned entity or a joint venture fits your activity.
• If you are sourcing, use the fair to shortlist suppliers, then verify business licences, production capacity and quality certifications independently.
• If you are already operating, review your import or export classification and customs arrangements in light of any future trade-rule developments.
• Keep records of the policy statements you rely on, and revisit them as implementing rules are published.

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