The change of name of the bi-annual Chinese export commodities fair embodies China's efforts to achieve a basic balance between imports and exports, says Commerce Minister Bo Xilai.

Bo was speaking at the two-week event, also known as Canton Fair, which is being held in Guangzhou, capital of south China's Guangdong Province.

China's domestic market was expanding rapidly and was capable of accommodating more imports from around the world, Bo said.

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