Twenty Xiamen-based companies participated in ISPO Munich 2022, which is one of the world's largest sports industry trade fairs, in Munich, Germany in late November.

The ISPO Munich 2022, an international tradeshow for sports fashion and lifestyle brands, attracts many visitors in Munich, Germany. [Photo/WeChat account: touzixiamen]

The 20 companies sold over 1,260 products during the event and reached tentative deals worth over $100 million.

Among them was Fung Sports Co, which showcased yoga, running, and swimming products, and established new partnerships at the fair.

"The face-to-face communication allowed us to learn more details about our clients demands," said Xie Baoyin, general manager of a company that inked tentative deals worth $800,000 at the ISPO Munich 2022.

Xiamen has more than 20,000 registered export companies. By the end of November, the city's foreign trade exports totaled 422.28 billion yuan ($60.56 billion), up 8.1 percent year-on-year.

From January to November, the Xiamen tax administration refunded and exempted taxes totaling 38.05 billion yuan for exports, up 11.4 percent.

"The tax refunding process is highly efficient," said Ye Shuhong, head of financial department of Fung Sports Co." The tax administration also used big data to offer tailored solutions to help us solve problems and expand our presence overseas."