Canton Fair exporters need to innovate to last trade gloom
Print Edition
EXPORTERS at the Canton Fair said they need to build strong brands and invest in innovation to survive the current trade gloom.
The Canton Fair, or 118th China Import and Export Fair, opened in Guangzhou yesterday, with fewer international buyers, suggesting tough trade prospects.
“The global trade market has shown no positive momentum. Under such circumstance, Haier has dedicated itself to building strong brand loyalty among overseas buyers, and moved some of its design, production and sales overseas,” said Zhang Qingfu, Middle East regional manager of Haier.
Zhang said about 55 percent of Haier’s products and businesses are now “localized” — manufactured and marketed overseas. In the refrigerator category, the localization percentage is higher, at 70 percent.
“Capitalizing on the downward trade trend, we have improved the global business structure of the company,” Zhang said. “We customize our design according to the mentality of different regions, for example, handheld washing machine for Japanese customers who favor small size and convenience. We made super silent window air conditioners for American users who hate noisy and bulky electronics.”
Rising costs and slumping international commodity prices have cut the advantage of China’s foreign trade. Made in China may need to be changed into “rooted in China, made globally,” many exporters say.
Han Yaxi, a manager of Smart Energy Together, one of China’s largest solar energy products suppliers, said the company will move some of its factories to Thailand and India.
“We also invest heavily in innovation to boost competitive edge, transforming ourselves from simply making parts to a system solution provider,” he said.
The Canton Fair is held biannually in Guangzhou every spring and autumn. It will last three weeks.
The transaction volume of its 117th session, held in April and May, was 172 billion yuan (US$27 billion), slightly lower than the previous session.
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