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News - China's Largest Trade Fair Opens In Guangzhou

 

China's Largest Trade Fair Opens In Guangzhou

Canton Fairs

The 107th China Import and Export Fair has opened in the southern city of Guangzhou. It's the largest trade fair in China. As a barometer of the country's foreign trade, the fair is seeing a clear increase in export orders.

Mr. Xu is the chief executive officer of Zhejiang-based safe maker, Ningbo Yongfa Group. He is excited to find that overseas buyers are keen for his company's products at the Canton Fair. Some even booked up a day before it opened.

"During the first three days of the fair, we have seen the number of visitors to our booth nearly double that of last year. If you look at our notebook, you can see that we have received more than 100 clients over the past three days. This is way beyond our expectations.", Xu said

Mr. Xu is not alone. Most exhibitors say their orders are expected to increase by 30 percent. Some even say their production schedules are full until August.

What's more, mechanical and electronic products whose export volume has witnessed a slide have also seen their orders rebound. Many exhibitors have raised their expectations.

Ding Haibin, the deputy director of Ningbo Foreign Trade & Economic Bureau said, "Before we came here, we were confident about the sector's exports during the first half of this year. But we were worried that the rebound would not extend into the second half. Now I'm reassured by the situation."

Overseas buyers say they were prudent on increasing stockpiles last year due to the global financial crisis. But considering price hikes of raw materials, they are confident about commodity prices this year.

However, officials are warning against uncertainties in China's foreign trade. They are also calling for stability of the yuan exchange rate and continuation of macro policies.

Chen Chaoren, the Spokesman of China Import & Export Fair, said "We should be alert about increasing protectionist measures worldwide. The US is also adding pressure to appreciate the yuan. This will also affect China's foreign trade this year. Besides, price hikes of domestic products have added to the cost of exports. And the macro policies should be flexible in line with the changing economic situation."

The China Import and Export Fair is held twice a year in Spring and Autumn since it was inaugurated in the spring of 1957. It's China's largest trade fair and it's also famed for having such a wide variety of goods, the largest attendance and business turnover.

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