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October 17, 2016

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Optimism sparkles at Canton fair

CHINESE manufacturers and traders were optimistic about overcoming global economic headwinds as they turned up at the month-long Canton fair which opened its 120th session on Saturday in Guangzhou.

The biannual event, formally known as China Import and Export Fair, is the country’s largest trade fair and gauges global demand for China’s exports, which have been facing tremendous downward pressure due to rising cost, excessive capacity, and sluggish demand.

According to official statistics, in the first eight months of 2016, China’s foreign trade slid 1.8 percent from a year earlier, with exports dropping 1 percent and imports falling 2.9 percent.

But Chinese enterprises at the fair seemed optimistic.

Zhang Qingfu, a senior executive of Haier Electronics Group Co’s overseas operation, said the company has tapped a new market with its “smart” electronics — devices controlled by mobile connection.

NYSE-listed Trina Solar expanded its overseas operation this year by acquiring a Dutch solar battery supplier and investing in Thailand for a new solar panel plant, according to Liu Keyan, public relations director of the company.


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