Mexico has become a co-host of the next year's China International Small and Medium Enterprise Fair, after authorities from both sides signed a letter of intent on Thursday.

"We are willing to boost exchange and cooperation with countries and regions to help small and medium-sized enterprises better cope with challenges amid the current global economic downturn," Liu Zhigeng, vice-governor of Guangdong province, said during this year's fair.

The fair, which entered its 10th session this year, opened on Wednesday in Guangzhou, the capital city of Guangdong.

Guangdong, an economic powerhouse in South China, will focus on renewable energy, energy conservation and creative design industries for sustainable development as it undergoes a big reshuffle of industrial structure, according to Liu.

"Cooperation and mutual investment will help develop a sound global business environment for Chinese SMEs," Liu said.