Beam of optimism as Canton Fair opens
2014-October-16 Source:
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China's largest trade fair opened its 116th session in the southern province of Guangdong on Wednesday, with delegates expressing confidence despite tough export prospects.

The biannual China Import and Export Fair, also known as the Canton Fair, is seen as a barometer of China's exports. In a sign of slow recovery in the global economy, the fair's spokesman Liu Jianjun said the number of buyers is likely to remain level with the previous session.

The 115th Canton Fair held earlier this year reported rare slumps in both the number of buyers and turnover. The good news is that over 90 percent of the exhibitors attending the previous fair reapplied, suggesting undaunted confidence among Chinese exporters, Liu said.

The fair has attracted 24,751 exhibitors from China and abroad, up 170 from the previous session. A total of 60,222 booths will be opened, up 514 from the previous session.

The fair comes as China struggles to fuel its foreign trade, growth of which in the first three quarters slowed to 3.3 percent year-on-year, falling short of the annual target of 7.5 percent. The growth figures rebounded in September, but analysts said rising labor costs, unfavorable exchange rates and turbulent world economy will continue to weigh on China's exports.

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Editor: 王凯
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