All posts tagged: Canton

High-tech push at Canton Fair highlights China’s changing export strategy

High-tech push at Canton Fair highlights China’s changing export strategy

Some firms at the fair report that enquiries and sales for solar panels, inverters and wind turbines have risen by as much as 50 per cent since the latest Iran conflict began.  For buyers like Sachin Inamdar, who travelled from India, the appeal is clear: “Getting to see (so many) new technologies in one place is worth the visit.”  He added that he is exploring alternative energy solutions amid growing demand back home amid a global shift away from fossil fuels.  INNOVATION NOT A SILVER BULLET Still, analysts caution that innovation alone may not be enough to sustain China’s growth.  The country placed tech as a key strategic pillar in its 15th Five Year Plan.  “The Iran war hits global purchasing power indiscriminately, even buyers of chips and services face rising operating costs,” said Li. “The honest assessment is that tech buys China resilience, but not immunity.”  That makes China’s “dual circulation” strategy of boosting domestic consumption while expanding trade with non-Western markets increasingly important, he added.  This comes as national security concerns remain an …