China's foreign trade will be challenged by the uncertain global economic environment in the near future, despite increases both in the number of overseas buyers and transactions in a just-concluded flagship trade event, according to an industrial insider.

Xu Bing, spokesman of the China Import and Export Fair, also widely known as the Canton Fair, said on Friday the slow growth of the global economy would have large impacts on the country's trade.

"Chinese export-oriented companies need to develop more innovative and competitive products to ensure overseas deals," said Xu, during a news conference after the 120th Canton Fair concluded on Friday in Guangzhou, the capital of Guangdong province.