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Canton Fair seals deals worth US$22.2b in 1st phase
Latest Updated by 2006-10-22 15:26:39
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>>>Special Report: 100th Canton Fair

The 100th session of the Chinese Export Commodities Fair (CECF) ended its first phase on Friday with deals worth almost 22.2 billion U.S. dollars, up 5.8 percent from the 99 session. The 100th session of the Chinese Export Commodities Fair (CECF) ended its first phase on Friday with deals worth almost 22.2 billion U.S. dollars, up 5.8 percent from the 99 session.

Xu Bing, spokesman for CECF, also known as Canton Fair, said on Saturday that the fair has attracted 121,576 buyers from 209 countries and regions.

The fair is a biannual event held in the spring and autumn in southern business hub of Guangzhou since 1957. It is the biggest fair of its kind in China, with contracts signed accounting for a quarter of the country's export.

Xu said Asia continues to be the leading source of buyers, followed by Europe, America, and Africa.

The number of Asian buyers stood at 65,861, while that from Europe reached 25,375, a 28.5 percent surge from last session.

He said that deals on electro-mechanical products were worth 13.0 billion U.S. dollars, 58.5 percent of the total contracts value.

The value of shoes contracts rose 3.5 percent to 950 million U.S. dollars in the aftermath of the European Union (EU)'s two-year 16.5 percent duties on Chinese leather shoes imports.

Purchasers form EU struck the largest sum of deals worth of 6.9 billion U.S. dollars, followed by those from the Middle East and the U.S.

The 12-day fair is divided into two phases, with the first running from October 15 to 20, and the second from October 25 to 30.

The first phase displayed textiles, garments and health products, household appliances, tools, small vehicles, and other hardware.

Farm produce, foodstuffs, tea and kitchenware, decorations, toys, sporting goods, and office supplies will be on show in the second phase.

The fair has 31,408 standard booths at the CECF Liuhua Complex and Pazhou Complex, 1,350 more than this year's spring session.

Editor: Yan

By: Source: China View website
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