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Business with OBOR countries increased drastically in Canton Fair Phase 1

2015-April-20       Source: Newsgd.com

The first phase of 117th Canton Fair ended yesterday (April 19th). The volume of trade in mechanical and electrical products hit 7.37 billion USD.

Companies need more time to know OBOR countries

Another highlight in the first phase was in the area of large machinery and equipment, as the emerging market is paying more attention to the development of the manufacturing industry. Many machinery companies in Guangzhou think highly of the One Belt and One Road, but they did not get enough experiences and confidences in “going out” to the emerging market.

Pan Yipeng, a regional manager from Guangzhou Tech-Long Packaging Machinery Co., Ltd, said that One Belt and One Road is a national strategy, but usually it need 4-5 months to get familiar with the policies, culture and laws of the exporting countries for exporting companies, even for the companies like Tech-Long which has exported products to the countries from southeast Asia and Africa 3 years ago with the increasing rate of 10% every year.

 

Made-in-China innovation attracts European and American buyers

In the first phase, the most popular booths were in the area of electrical appliances, which attracted buyers from European countries and US due to their intellectualization and internet-enablement. Some buyers indicated that focusing on the middle and high level market has become the key to speed up the transformation and upgrading.

The export sales manager of Tongke, a company designing, manufacturing and selling home audio equipments, introduced that the industrial design can attracts buyers best based on their 17 years experiences in Canton Fair, but in recent years they found that the demand of technical innovation has increased a lot, especially to the high-end customers from the European countries and US.

An official from the Midea, a company manufacturing air-conditioners, had the same feeling. She said that the innovative products are the promise for a company to earn the market. With the producing cost increased greatly, the price was not the advantage for Chinese companies any more, the key point is to improve the cost-efficacy.

(By Nan)

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Editor: Nan

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