112th Canton Fair 2012 promotion conference was held in New York on August 14. It was organized by the China Foreign Trade Center (part of the Ministry of Commerce), and the Chinese consulate general in New York.

Myles Matthews, president of the Global Trade and Technology Center, a trade-promotion group in New York, was among the Canton Fair's buyers and exhibitors who attended the promotion conference.

"China might be affected by the economic downturn as well, but you can still find a lot of economic opportunities in China since it has enough of a domestic market that is not going to downturn like the US," said Matthews, who has attended each Canton Fair for the past five years.

"If the US doesn't find buyers outside the US, then you are in trouble," he added.

"One of the things we want to do is to promote and sell our products in China because the young people in China love technology," Matthews said. "Everybody gets the computers and everybody tries to invest in themselves."

The pre-fair promotional event has been held in New York for five years to encourage US companies and organizations to buy and exhibit. The Canton Fair itself draws 200,000 buyers from around the world.

"It's a one-stop shop - you don't have to travel to all of the countries to meet these buyers," Matthews said.

Ann Li, executive director of the Center for Economic Transformation in the New York City Economic Development Corporation, said events such as the Canton Fair are "an important tool for New York City businesses who are trying to leverage the opportunities and resources unique to China".

"Clearly, New York businesses seeking to expand need to at least consider how China and Chinese partners fit into their expansion plans," she said at Tuesday's event.

Dubbed "China's No 1 Fair", the state-sponsored exhibition began in 1957. The most recent fair, in May, drew some 210,800 foreign buyers from 213 countries and regions with annual business revenue of up to $360.3 billion.