China's largest trade fair opens in Guangzhou

A foreign buyer poses for photo at the 119th China Import and Export Fair, or the Canton Fair, in Guangzhou, capital of south China's Guangdong province, April 15, 2016. A total of 24,514 enterprises from home and abroad participated in the fair. [Photo/Xinhua]

The Canton Fair, the largest import and export expo of its kind in China, opened on Friday in the southern province of Guangdong, with the majority of participants being small and medium-sized firms.

The 119th China Import and Export Fair has an exhibition area of 1.18 million square meters and about 60,000 booths for more than 24,000 companies from home and abroad.

More than 90 percent of the firms are small and medium enterprises.

Fair spokesperson Xu Bing said over the past three years the fair has helped more and more small- and medium-sized Chinese firms to develop their unique, quality products.

Companies from regions and countries along the "Belt and Road" account for more than 60 percent of all participants in the import section.

To boost foreign trade for Chinese firms, the fair cut the fee for each booth by 4,000 yuan ($615) on average, or 18 percent, compared with the 117th Canton Fair.

China's exports saw a turnaround in March, while a decline in imports narrowed, customs data showed on Wednesday, adding to signs of stabilization in the economy.