Guangzhou, which earns its title of China's Southern Gate, has transformed from a run-of-the-mill city into an international hub in the 70 years since the founding of the People's Republic of China.

Guangzhou is the only trading port in China that has never been closed since it started operating over 2,000 years ago.

Guangzhou, which earns its title of China's Southern Gate, has transformed from a run-of-the-mill city into an international hub. [Photo/gz.gov.cn]

The total value of Guangzhou's imports and exports in 1987 was $2.17 billion, while today it is $148.48 billion, 68.4 times higher. The average annual growth rate from 1988 to 2018 was 14.6 percent.

In the first eight months of 2019, Guangzhou's total foreign trade was valued at 629.02 billion yuan ($88.06 billion) and it had a growth rate higher than the provincial average.

Guangzhou's actual utilization of foreign direct investment in 1979 was $1.65 million, while today it is $6.61 billion. The city has hosted a total of 36,537 foreign direct investment projects.

The China Import and Export Fair, also known as the Canton Fair, was first held in Guangzhou in 1957 and has continued to be held every spring and autumn. With the 101st Canton Fair, the event became a platform for both imports and exports rather than just exports.

Famous around the world, the Canton Fair provides an important platform for Chinese companies looking to explore overseas markets. "The Canton Fair is a reflection of the progress China has made in developing foreign trade for the past 62 years," said Xu Binru, spokesman for the fair.

The total value of exports traded at the Canton Fair tops $1.38 trillion by the end of the 125th fair. [Photo by Chen Jimin/southcn.com]

The 125th Canton Fair, which took place from April 15 to May 5 and had a total exhibition area of 1.19 million square meters, attracted 195,454 overseas buyers from more than 210 countries and regions.

Goods traded at the first Canton Fair in 1957 were valued at $86.86 million, accounting for 20 percent of China's total cash income that year. The total value of exports traded at the fair topped $1.38 trillion by the end of the 125th fair.