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East China Fair in city expected to confirm trade recovery
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The East China Fair to be held in Shanghai starting Saturday is expected to confirm a turning point for China's trade, which showed signs of recovery in the beginning of this year.
You Yongsheng, an official with the Shanghai Commission of Commerce, said the 2014 East China Fair, the country's earliest and biggest regional trade show, may bring some good news for exhibitors who have endured lean times.
"The fair may allow exhibitors to smell the spring," You said.
So far, more than 4,360 professional buyers from 62 countries and regions have registered to participate in the fair, up 8.2 percent from a year earlier.
Meanwhile, 3,300 trading companies have booked 115,000 square meters of booths, the same as last year.
Dubbed a barometer of China's trade, the annual East China Fair will run from March 1 to March 5 at the Shanghai New International Expo Center in the Pudong New Area.
Export orders worth US$2.81 billion were clinched at 2013's fair, down from US$3.12 billion one year earlier. It is expected that more deals can be sealed this year with global demand showing an upturn.
China's trade jumped 10.3 percent from a year earlier in January with exports rising 10.6 percent and imports expanding 10 percent. Both exports and imports grew much faster than that in December and were stronger than market expectations.
The surprisingly good results of China's trade performance were based on recovering global demand, trade-friendly policies that have taken effect and some seasonal factors, according to Shen Danyang, a spokesman at the Ministry of Commerce.
Shen said China is cautiously optimistic about the country's trade growth this year. But he warned that low profitability — caused by high business costs, a strong yuan and the difficulties in raising prices — may still keep exporters on their toes.
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