As the 136th China Import and Export Fair, commonly known as the Canton Fair, unfolds in Guangzhou, local tax authorities in Guangdong are keenly focused on enhancing their services to facilitate businesses. With a range of tax incentives now in effect, companies in Guangdong are rapidly expanding and showcasing their flagship products to seize international orders.

One such company, Guangzhou Shiyuan Electronic Technology Co., Ltd. (often referred to as Shiyuan), is making a notable debut this year by prominently featuring its overseas products at the fair. Their showcase includes technologically advanced products like smart TV motherboards and conference tablets.

Founded in 2005, Shiyuan has established itself as a global high-tech enterprise centered on interactive displays and artificial intelligence. Impressively, their LCD television main control boards command about 28.2% of the global market share, maintaining a leading position within the industry. For three consecutive years, the company has reported revenues exceeding 20 billion yuan.

“Developing new products requires significant investment and lengthy research periods, so cash flow is critical for our operations,” explained Duan Yu, Shiyuan’s Chief Strategic Resources Officer. “In 2023 alone, we benefitted from tax incentives such as corporate income tax reductions for high-tech enterprises, totaling over 200 million yuan, which has provided ample funding for our R&D efforts.” On the first day of the fair, more than 58 buyers from the U.S., Netherlands, South Korea, Egypt, Turkey, and Pakistan have already engaged with Shiyuan.

In the home appliance section, Guangzhou Haiweit Technology Co., Ltd. (Haiweit) drew considerable interest from international buyers with its newly launched “open ear clip headphones.” This innovative product incorporates spatial audio and head-tracking technology, creating an immersive listening experience for users.

“We remain committed to independent research and original design, resulting in over 60% revenue growth in the first half of this year,” noted Yu Shaomei, Sales Director at Haiweit. “So far this year, we’ve enjoyed a corporate income tax reduction of 770,000 yuan and received over 30 million yuan in export tax rebates. We already have around 60 to 70 clients scheduled to meet with us at the fair, anticipating new orders worth between 3 to 4 million US dollars.”

In the machinery equipment section, a laser cutting machine captivated numerous international buyers. Operators simply upload a design to the system, and in under two minutes, the machine can cut a steel pipe into the specified shape.

“This compact, high-speed laser cutting machine is a new development for us this year, targeting industries such as furniture, elevators, and fitness equipment,” explained He Yuyang, Sales Manager at Foshan Huibaisheng Laser Technology Co., Ltd. “Compared to older models, it’s more cost-effective and can be operated by one person, enhancing efficiency by 40% with cutting precision up to 0.05mm.” Established in 2004, Huibaisheng Laser focuses on laser equipment research and development, achieving nearly 800 million yuan in production value in 2023, with 40% of its sales going to overseas markets, including countries like South Korea, Brazil, Singapore, and Indonesia.

He Yuyang added, “In the first three quarters alone, we’ve processed over 11 million yuan in export tax rebates, significantly alleviating our financial pressure. We’ve attracted buyers from countries and regions such as Russia, the U.S., Canada, and Spain to our booth. Many of them have already expressed interest and are likely to finalize contracts post-fair.”

Dongguan Aipuda Technology Co., Ltd. (Aipuda) showcased a range of products at this year’s fair, including tablets and laptops, all equipped with the latest CPUs and trending AI technologies.

“Our export tax rebates have exceeded 30 million yuan from January to August 2024,” shared Zheng Yongze, Sales Director at Aipuda. “Currently, the Russian market accounts for over 30% of our revenue, and we typically secure around 10 million yuan in orders from both new and returning clients at each fair.”

During this Canton Fair, the Guangzhou Tax Bureau has launched “Ten Tax Service Measures for the 136th Canton Fair,” including initiatives like “speeding up and enhancing export tax rebates” and “expanding and increasing efficiency in exit tax rebates,” all aimed at helping participating companies successfully connect with global customers.