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china’s oldest and largest trade fair is bracing for a new form of “cloud exhibition” from june 15 to 24 as part of efforts to stabilize global supply and industrial chains. here’s a full guide on how to attend this year`s online session of the fair! 

the canton fair, also known as the china import and export fair, was held every spring and autumn in guangzhou, capital of southern china’s guangdong province, since its founding in 1957, and has been seen as a barometer of china’s foreign trade. 

 

this year, the 127th canton fair is to be held online from june 15 to 24. it will provide around-the-clock services, including online exhibition, promotion, business docking and negotiations. 

 

meanwhile, exhibitors are jumping on the live streaming bandwagon to accelerate digital transformation, while some enterprises move the studio to their workshops to exhibit assembly lines for customers worldwide. 

 

now buyers are able to register and login to the buyer service platform. according to the canton fair, overseas buyers who have completed registration (with complete company information) are allowed to: 

 

• browse exhibitors’ online stores and the supply & demand hall 
• view the details of exhibits 
• watch live streams that are available to overseas buyers 
• communicate via instant messaging 
• make negotiation appointments 

so how to log in to the platform and use it well? let’s check the full guide 

 

△ video: easy registration for online canton fair

for overseas buyers that have attended before

 

if you are an overseas regular buyer having attended the canton fair before, you can verify your identity with your overseas buyer badge or best account information and log in to the platform directly. 

 

official web: https://www.cantonfair.org.cn/en/

 

• with overseas buyer badge
  

1. click “buyer” on the buyer service platform login page. 

2. go to the overseas buyer verification page, fill in your buyer badge information and click “continue”. 

 

3. once the verification is successful, you can reset your email and password, and click “confirm” to complete settings. 

 

4. click “log in” on the result page to continue. 

 

5. log in to the platform with your email and password. 

 

• with best account

if you have registered on the buyer e-service tool platform (best platform), you can log in with that account. after that, you need to complete your information. 

 

if you have not submitted your company info, here are the steps to join or create a company: overseas buyer → create company/join company. 

 

if your company information is incomplete, please click “complete company information” to complete it and then submit the information to go to the overview page. 

 

after completing your company info and personal info, you can post sourcing requests. 

 

for new overseas buyers

 

if you are a newly registered overseas buyer to the buyer service platform, you can log in to the platform with your verified email.

 

if your account is associated with a third-party social media account such as facebook, twitter, linkedin and wechat, you can scan the qr code for login.

1. click “buyer register” → “overseas buyer” to enter the registration page. 

 

2. fill in your basic information, the issuing country/region of your passport and the name on your id. 

 

3. enter your email to receive a verification code, enter the code and click “submit”. 

 

4. complete your company info and personal info.

 

 

the fair has set 16 categories and 50 exhibition sections, displaying millions of products of 25,900 exhibitors online. 

 

foreign buyers can register on the 24-hour livestreaming platform and start purchase negotiations at any time during the exhibition period, as all enterprises are exempted from paying exhibition fees to bolster international trade and yield win-win results. 

 

if you have any question about the canton fair, please feel free to contact us. hacos can always provide you the best business and trading solution! 

in order to help you reach the latest update on the global pandemic situation, hacos has set a quick link on the menu of our wechat page. follow us, you can check it whenever you want! 

 

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source | xinhua / canton fair

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on june 12, hacos business services has held a seminar about cross-border trading, introducing business solution for foreign trade enterprises under the current domestic and overseas situation. it was a complete success! 

as the covid-19 pandemic has hampered the global economy, the world trade organization expected this year’s global trade to fall by between 13 percent and 32 percent. 

despite lockdowns easing in some countries and regions, it will still take time for demand to recover, as there are increasing uncertainties in global trade. 

 

so, how can trade-related enterprises pass the hard time smoothly and seize business opportunities? hacos held a seminar, inviting experts in cross-border trading, to help you find the answers. 

 

at the seminar, our speakers nico, jack and chen yongbiao shared their experiences and opinions about: 

 

• how to seize the opportunities and attract customers 
• how to collect and settle forex safely and legally 
• how to make a good taxing plan 

part 1 

forex settlement & taxation

 

with more than ten years of experience in forex settlement and tax planning for foreign-trade related enterprises, nico, one of hacos founders, explained the latest trade policies and introduced several measures to solve the problems. 

 

part 2 

new opportunities for trading business

as a business expert working at alibaba, jack introduced the current situation of domestic and overseas markets, saying that online trade fairs and livestreaming are new opportunities for traders. 

 

 

part 3 

key support project in trading

 

in the last part, chen yongbiao, manager of the guangdong branch of alibaba, introduced an advanced support project in trading – alibaba.com. 

 

thanks for the three speakers, nico, jack and chen for their sharing. also, we want to thank all the attendees who took time out of their busy schedule to come here. 

 

in order to help you reach the latest update on the global pandemic situation, hacos has set a quick link on the menu of our wechat page. follow us, you can check it whenever you want! 

 

share to let your friends know!

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a chinese farmer couple living in wenzhou recently went trending on on the internet through their shuffle dance moves. they’ve cheered up millions of chinese netizens who salute the couple’s smiling faces and their easygoing approach to life. 

dancing along the path to the field, dragging their feet and sometimes jumping into the air to imitate ducks, has offered the couple a mountain of joy, despite their failure in business, a serious traffic accident, illnesses and other troubles. 

 

peng xiaoying and her husband fan deduo from a small village in rui’an, a county-level city in zhejiang province, said that dancing had helped them get rid of depression together. 

 

 

fan was injured in a traffic accident ten years ago. the trauma had led him to suffer from depression. he became nervous, irritated by trifles in life, especially when he couldn’t see his wife, and had trouble sleeping at night. 

 

the couple decided to wrap up their shoe-selling business and return to their hometown rui’an. during this time, peng had to shoulder all the family’s burdens. she left the huge pressure of earning a living while taking care of her family. 

 

coincidentally, peng came across shuffle dancing and became a square dance lover. she invited fan to join her and practice the movements to help distract him from depression and anxiety. 

 

initially, fan was unwilling to try out the dance, but as he practiced more with his wife, he too fell in love. 

 

 

since then, fan and peng became frequent participants in square dancing. when the couple were done with the farm work, they choreographed dances and tried them out in the field. shuffle dancing became an outlet for them to release their pressure and anxiety. 

 

they incorporated certain rural life elements, such as combing the hair, pumping the bellows and imitating a duck walking, into the dance. 

 

 

“whenever we feel upset, the shuffle dance always helps cheer us up and lighten our mood. it has been such an up-lifter in our lives,” pens said. “i think the main reason why we get so happy when we dance has to do with the idea of us exercising with the shuffle on the ridges. it’s really exciting.” 

 

during the recent covid-19 pandemic, the couple posted their dance videos on video sharing platform douyin. their innocent smiles and unique dance steps took cyberspace by storm, with more than 1.5 million netizens subscribing to their channel so far and following their dancing. 

 

△ the couple perform dancing with their kids in the field. 

 

their optimistic attitude towards life and hardship has been lauded by many netizens. encouraging and praising comments have flooded the couple’s videos. 

 

“look at them! i think that’s really what the essence of dancing is about – not showing off but really bringing happiness and joy to the dancers themselves in a simple way. this is the most beautiful dancing i’ve ever seen,” one netizen effused.

 

“whether you live in an urban or rural area, wealthy or poor, as long as you live happily, you are happy,” said another douyin user. 

 

when life tries to bring you down, just dance! 

china has released a master plan for the hainan free trade port, aiming to build the southern island province into a globally-influential high-level free trade port. let’s check the key points and see how they will affect you! 

on june 1, the cpc central committee and the state council issued the overall plan for the construction of hainan free trade port. a free trade port system will be “basically established” in hainan by 2025 and become “more mature” by 2035. 

 

the authorities expect to make hainan, china’s largest special economic zone, the frontline of china’s integration into the global economic system, according to the plan. 

 

in brief, the whole system can be summarized as “6 1 4”: 

 

• 6 liberalizations and facilitations 

(trade, investment, cross-border capital flow, access for people, transportation, data flow)

• 1 modern industrial system 

• 4 systems
  

(taxation, social governance, rule of law, risk prevention and control) 

 

 

the plan lists plenty of work emphasis in periods stretching to 2035. among dozens of policies in the plan, here are some highlights and key points: 

 

zero tariffs

 

institutional arrangements for liberalization and facilitation for the trade of goods. 

 

exempt from import duties, import value-added tax (vat) and consumption tax on goods on the “zero-tariff” list. 

 

exempt from import duties, import vat and consumption tax on imported goods purchased by island residents.

 

increase in the quota for offshore duty-free shopping to 100,000 yuan ($14,000) per person per year. 

 

tax reduction / exemption

 

corporate income tax on encouraged enterprises at a reduced rate of 15%. 

personal income tax cap of 15% for high-level talents and talents in shortage. 

 

enterprises will be exempted from corporate tax on income from new foreign direct investment for tourism, modern services and high-tech industry enterprises until 2025. 

 

 

formulating lists

 

formulate the special list of market access and the negative list of foreign investment access to the hainan ftp. 

 

formulate the negative list of cross-border trade in services for hainan ftp. 

 

formulate a negative list management system on the issuance of work permits for foreign employees. 

 

 

opening-up 

 

open up value-added telecommunications services. 

 

open up basic telecommunications services in a safe and orderly fashion. 

 

support adopting the policy of opening up the financial sector in hainan ftp. 

 

implement a highly liberal, convenient and open transport policy. 

 

 

visa-free

 

foreigners can enter visa-free into hainan after declaring or receiving invitations. 

 

implement a 15-day visa-free policy for the entry of foreign tour groups by cruise ships. 

 

foreigners are allowed to apply for visa-free entry to hainan for business trips, visiting relatives, medical examination or treatment, participating in exhibitions and forums and sports competitions. 

 

 

besides these, hainan will introduce measures in fields including trade, investment, finance, data flow, ecology and public health, in a targeted manner. 

 

 

will hainan ftp replace hk? 

 

although there are rising concerns that hong kong, which has served as china’s largest free trade port, may be replaced by hainan, hainan will be cultivated into a new financial center to develop alongside hong kong in a coordinated manner, rather than replacing hong kong as an international financial hub. 

 

lin nianxiu, deputy director of the development and reform commission, said that hainan is different from hong kong. hainan ftp focuses on trade and investment liberation and facilitation. 

 

△ lin nianxiu at a state council’s press conference on monday.

 

hong kong’s major advantages are free capital convertibility, entry and exit, as well as a sound shorting and hedging mechanism, which is more suitable for short-term capital hoping for high returns. 

 

by contrast, hainan, with an increasingly open financial market, will be a better choice for foreign investors who intend to further expand in the chinese mainland market in the long run. 

what’s more, hainan will promote joint development with the guangdong-hong kong-macao greater bay area. foreign capital could also seek different kinds of investments in the two regions. 

in order to help you reach the latest update on the global pandemic situation, hacos has set a quick link on the menu of our wechat page. follow us, you can check it whenever you want! 

 

share to let your friends know!

source | china gov / xinhua / china daily

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