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Over 80% of contracts are short form in Canton Fair Phase II

2015-April-28       Source: Newsgd.com

The second phase of the 117th Canton Fair, focusing on trade of consumer goods and gifts, ended on April 27th. Latest statistics show that the total amount of business in the first 3 days reached 3.32 billion USD, with 510 million USD bagged by the brands’ pavilion, Nanfang Daily reported.
Businessmen in Canton Fair. (Photo/Yangcheng Evening News) 
 

Businessmen in Canton Fair. (Photo/Newsgd.com)
 

Businessmen in Canton Fair. (Photo/Newsgd.com)

The second phase of the 117th Canton Fair, focusing on trade of consumer goods and gifts, ended on April 27th. Latest statistics show that the total amount of business in the first 3 days reached 3.32 billion USD, with 510 million USD bagged by the brands’ pavilion, Nanfang Daily reported.

The official from China Chamber of Commerce for Import and Export of Light Industrial Products and Arts-Crafts introduced that the trade with US (420 million USD), and Asian countries (820 million USD) went down slightly, while that with European countries (1.15 billion USD) and African countries (150 million USD) dropped sharply.

While statistics released by China Chamber of Commerce of Foodstuffs and Native Produce show that the total amount of businesses dealt in the pavilion of garden supplies and pet supplies reached 186.7868 million USD, up 2.89%. “Europe is still the main export market for garden supplies and pet supplies, and the amount of business is more or less the same as that last year. But the amount of businesses for the export to Asia fell drastically, with the decreasing rate of 27.97%.”

At the same time, in the first 3 days of the phase 2, the number of orders reached 520,000, up 3.2%, more than 80% of which were short form.

Many exporters explained that due to insufficient demand of the international market and fierce competition from Southeast Asian countries and South American countries, the number of orders dealt in Canton Fair declined slightly. Most orders are small ones in short form and with big discounts.

Some exporters admitted that this will last for a long time, and they need to pay more attention to speed up innovative technologies and improve the brand value.

Zhenhong craft company from Anxi of Fujian province is one of those who gained ground in opening international market. Zhenhong applied innovative designs in their new products and explored many new customers in middle east.

Chen Li, a saleswoman in Zhenhong, introduced that “people in middle east countries like red, golden, and black very much, also they love retro patterns, therefore our company designed cushions with gilding retro patterns targeting middle east market, and received huge orders”.

(By Nan)

Editor: Nan

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