Canton Fair posts firm pickup in foreign orders and buyers
Source: Xinhua |
October 22, 2009, Thursday
|
Print Edition
Print Edition
An important barometer of China's foreign trade, the Canton Fair reported late Tuesday a strong rebound in foreign purchases and buyers compared with the last session in April, an encouraging sign of the country's export picture amid the continuing global recession.
The first phase of the biannual 106th China Import and Export Fair from October 15 to 19 saw an export volume of about US$15.6 billion. That's up by 19.6 percent over the last session, said Chen Chaoren, spokesman of the fair in Guangzhou in Guangdong Province.
More than 90,000 buyers participated in the fair, an increase of 11.4 percent against the last session. There were 18 percent more buyers from the United States and 38 percent higher from Europe despite the shrinking markets in the two regions, Chen said.
Orders for home appliances, electronics, hardware, tools, transport vehicles and building materials, which account for at least 60 percent in China's exports every year, increased 20 percent.
The orders indicate that some international buyers are not holding their purses as tight as before, and China's exports are showing signs of an upturn after suffering the negative impact of the financial crisis for a year, Chen said.
Du Yuanyuan, board chairman of Leiyang Electronics Technology Co Ltd, said the company which mainly makes liquid crystal TVs received large long-term orders at the fair. "The situation is expected to be better next year," Du said.
While some booths were vacant in April, the autumn fair's 50,000 booths fell short of more than 80,000 applicants.
Wang Zhiping, vice director of the fair, said there was an "obvious" increase in orders worth more than US$10 million each.
"Some companies even set deals worth US$70 million at the fair. This is a sharp contrast with the small and short-term orders in April," he said.
Yao Wenping, vice president of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, said she is confident of the international market for Chinese products, although overall demand has tumbled due to lower buying capabilities and remaining stocks in the Western markets.
"The demands, including those from the US and Europe, are expected to increase largely next year," she said.
The first phase of the biannual 106th China Import and Export Fair from October 15 to 19 saw an export volume of about US$15.6 billion. That's up by 19.6 percent over the last session, said Chen Chaoren, spokesman of the fair in Guangzhou in Guangdong Province.
More than 90,000 buyers participated in the fair, an increase of 11.4 percent against the last session. There were 18 percent more buyers from the United States and 38 percent higher from Europe despite the shrinking markets in the two regions, Chen said.
Orders for home appliances, electronics, hardware, tools, transport vehicles and building materials, which account for at least 60 percent in China's exports every year, increased 20 percent.
The orders indicate that some international buyers are not holding their purses as tight as before, and China's exports are showing signs of an upturn after suffering the negative impact of the financial crisis for a year, Chen said.
Du Yuanyuan, board chairman of Leiyang Electronics Technology Co Ltd, said the company which mainly makes liquid crystal TVs received large long-term orders at the fair. "The situation is expected to be better next year," Du said.
While some booths were vacant in April, the autumn fair's 50,000 booths fell short of more than 80,000 applicants.
Wang Zhiping, vice director of the fair, said there was an "obvious" increase in orders worth more than US$10 million each.
"Some companies even set deals worth US$70 million at the fair. This is a sharp contrast with the small and short-term orders in April," he said.
Yao Wenping, vice president of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, said she is confident of the international market for Chinese products, although overall demand has tumbled due to lower buying capabilities and remaining stocks in the Western markets.
"The demands, including those from the US and Europe, are expected to increase largely next year," she said.
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