An aerial view of the China Import and Export Fair Complex in Haizhu district. [Photo by Liang Zhiyuan/WeChat account: gzhzfb]

Guangzhou's Haizhu district has been making full use of the China Import and Export Fair to accelerate the establishment of the new development paradigm of dual circulation in which domestic and overseas markets reinforce each other with the domestic market as a mainstay, local media outlets reported on Oct 14.

The China Import and Export Fair, also known as the Canton Fair, together with the exhibition industry, has become an important brand of Haizhu since it is the host venue of the Canton Fair and where the China Import and Export Fair Complex is located. 

A batch of supportive measures for the high-quality development of Haizhu's exhibition industry has been put forward in August this year and the district will set up a special fund of 20 million yuan ($3 million) every year as a subsidy for companies and industrial parks managing the exhibition industry as well as exhibition activities. 

The exhibition area in Haizhu's Pazhou area now has reached around 640,000 square meters and the fourth phase of the China Import and Export Fair Complex is now under construction, which is scheduled to be put into operation before October 2022.