2024 Spring Canton Fair Successfully Held

The 135th China Import and Export Fair (Canton Fair) was held as scheduled in Guangzhou. The third phase, featuring pharmaceuticals and medical equipment, concluded successfully from May 1st to May 5th. According to statistics provided by the conference, there were 246,000 overseas buyers from 215 countries and regions attending offline, marking a 24.5% increase from the previous session and setting a new record. Among them, buyers from countries participating in the “Belt and Road” initiative totaled 160,000, up by 25.1%; RCEP member countries contributed 61,000 buyers, increasing by 25.5%; BRICS countries had 52,000 buyers, growing by 27.6%; and European and American buyers reached 50,000, with a growth rate of 10.7%.

FarFavour Enterprises was allocated booth number 10.2G 33-34, showcasing primarily TCM raw material, ginseng, botanical extracts, formula granules, and Chinese patent drug.

During the fair, the China Chamber of Commerce for Import & Export of Medicines & Health Products (CCCMHPIE) organized the “Sino-Japanese Traditional Chinese Medicine Industry Information Exchange Meeting.” Participants from Japan included Tianjin Rohto Herbal Medicine Co., Ltd, Hefei Kobayashi Pharmaceutical Co., Ltd., Kotaro Pharmaceutical Industry Co., Ltd., Mikuni & Co., Ltd., Nippon Funmatsu Yakuhin Co., Ltd., and Mae Chu Co., Ltd., among others, with over 20 Chinese medicinal material enterprises attending the meeting. President Hui Zhou and vice secretary Yang Luo were present at the event. Zhibin Yu, director of the CCCMHPIE, presented the export situation of Chinese medicinal materials to Japan and recent trends in domestic prices. Japan is the main export market for Chinese medicinal materials, with exports to Japan reaching 25,000 tons in 2023, totaling USD 280 million, a year-on-year increase of 15.4%. After the meeting, the Chinese and Japanese enterprises had communication, with attendees expressing great satisfaction with the outcomes.