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[Week 18] Over 80% of Contracts are Short Form in Canton Fair Phase II

2015-May-5       Source: Newsgd.com

The second phase of the 117th Canton Fair, focusing on trade of consumer goods and gifts, ended on April 27 with sales of 3.32 billion USD, with 510 million USD by the brands' pavilion after the first three days began, the Nanfang Daily reported.

The second phase of the 117th Canton Fair, focusing on trade of consumer goods and gifts, ended on April 27 with sales of 3.32 billion USD, with 510 million USD by the brands' pavilion after the first three days began, the Nanfang Daily reported.

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

"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 exports to Asia fell drastically, with a decreasing rate of 28 percent," said an unnamed official from the fair.

The total amount of businesses in garden supplies and pet supplies reached 187 million USD, up nearly three percent, according to China Chamber of Commerce of Foodstuffs and Native Produce officials.

After the first three days of phase 2 of the trade fair, orders reached 520,000, up 3.2 percent, more than 80 percent of which were short form, trade fair officials said.

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

"People in Middle East countries like red, golden and black very much, they also love retro patterns, therefore our company designed cushions with gilding retro patterns targeting the Middle East market and received huge orders," said Chen Li, a saleswoman in Zhenhong Craft Company in Fujian.

Editor: Chan

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