Canton Fair points to recovery in exports
Print Edition
CHINA’S largest trade fair has concluded its 119th session in Guangdong Province, with deals signed adding to signs of improvement in Chinese exports.
It was the first time that the number of foreign buyers and export turnover of the China Import and Export Fair, also known as the Canton Fair, had both grown on an annual basis since the two indexes dropped at the 114th session in November 2013, said fair spokesperson Xu Bing.
The fair, held every spring and autumn in Guangzhou, is seen as a barometer of China’s exports.
This session was attended by 185,596 overseas buyers, up 0.43 percent from the last spring session. Transactions hit nearly US$28.1 billion, up 0.1 percent, Xu said.
The number of buyers from Belt and Road countries took up 44 percent of the total, up 0.8 percent year on year. Buyers from the US and Canada grew by 2.61 percent and 2.54 percent.
“The progress reflects that Chinese exporters have improved their capabilities and that momentum is growing,” Xu said.
He said global buyers are now less price sensitive while caring more about product quality and services.
China’s exports rebounded in March while a decline in imports narrowed, adding to signs of stability in the economy.
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