Orders climb 10% at fair
By Joy Wang |
March 6, 2012, Tuesday
|
Print Edition
Print Edition
THE East China Fair clinched export orders valued at US$3.12 billion, up 9.98 percent from last year's, when it closed yesterday after a five-day run, with private companies boosting their purchases from a year ago.
The results were better than expected and boosted traders' confidence in confronting a difficult year amid a continued weakness in the global economy, the Shanghai Commission of Commerce said in a statement.
Private firms were the driving force as their export orders soared 34 percent to US$1.75 billion, or 56 percent of the total value at the fair, the country's largest regional trade fair and dubbed as a barometer for China's trade.
International buyers from Asia spent the most as their purchases rose 14.9 percent to US$1.7 billion, while spending by those from North America rose 3 percent to US$448 million and the Europeans boosted their buying by 7 percent to US$732 million.
Spending by African buyers tumbled 17 percent from last year to US$53 million.
More than 21,000 people visited the fair, up 5.07 percent from a year earlier.
The results were better than expected and boosted traders' confidence in confronting a difficult year amid a continued weakness in the global economy, the Shanghai Commission of Commerce said in a statement.
Private firms were the driving force as their export orders soared 34 percent to US$1.75 billion, or 56 percent of the total value at the fair, the country's largest regional trade fair and dubbed as a barometer for China's trade.
International buyers from Asia spent the most as their purchases rose 14.9 percent to US$1.7 billion, while spending by those from North America rose 3 percent to US$448 million and the Europeans boosted their buying by 7 percent to US$732 million.
Spending by African buyers tumbled 17 percent from last year to US$53 million.
More than 21,000 people visited the fair, up 5.07 percent from a year earlier.
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