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Home > Specials > 100th Canton Fair > 100th Canton Fair News
Local businesses cash in
Latest Updated by 2006-10-24 10:28:54
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>>>Special Report: 100th Canton Fair

GUANGZHOU: Local seafood restaurateur Zheng Dongming has had a busy week.

"So many businesspeople were in town for the 100th session of the Canton Fair they have brought me a big fortune," he said.

Zheng's restaurant has over 50 tables on two floors. It takes about 15 minutes to walk to his restaurant from the Liuhua complex of the Canton Fair, also known as the Chinese Export Commodities Fair.

"You can see my restaurant always fully occupied and we have extended the business hours over the past week to accommodate the exhibitors and visitors attending the session," he said.

About 500,000 businesspeople have been in Guangzhou for the fair, which ends on October 30.

Zheng said daily business turnover in the past week was almost double that of the rest of the year.

Almost all those involved in the tertiary industry in Guangzhou, especially catering, have benefited from the fair.

"One five-star hotel raised its daily executive room rate to 5,450 yuan (US$690) from 2,080 yuan (US$263)," said Yu Xiaoli from Huilv Business Service Co Ltd, a leading hotel-booking service provider in Guangzhou.

"Most of the hotels, if not all, in Guangzhou have doubled or even tripled their prices," she added. "Despite the price rise, it is by no means easy to book a room here during the fair."

Bo Canxiong, chairman of the Guangzhou Convention and Exhibition Industrial Association, said that the 100th session of the event is expected to bring business income of US$650 million to Guangzhou, according to a recent survey that found each visitor spent about US$1,300 on average during a session of the fair.

Bo said that business turnover during the two sessions of the fair can make up 20 per cent of a five-star hotel's annual income.

He said hotels, restaurants, bars, nightclubs, taxi drivers, apartment tenants, tourist agencies, local scenic spots, airline companies and telecom firms have benefited from business opportunities brought by the event.

And the resources of businesspeople from at home and abroad have created an excellent platform for trade delegations to launch promotional campaigns, Bo said.

Those who have capitalized on the fair include delegations from Mianyang in Southwest China's Sichuan Province and from the southernmost province of Hainan.

Mianyang put forward 100 projects to potential investors at a seminar and promoted products including electronic appliances, special iron and steel, and cars.

The city also made great efforts to publicize its position as the nation's only "science and technology city" authorized by the State Council.

The Hainan trade delegation highlighted export-oriented products including aquatic goods, garments and textiles, chemicals, natural gas, furniture, handicrafts and electronics.

The Hainan delegation also used the fair to promote itself as a tropical tourist destination.

"We launched a campaign to promote ourselves as a tourist destination during the 93rd session of the fair, which proved to be effective," said Chen Rujun, deputy secretary-general of the Hainan provincial government.

Bo said many industry exhibitors from the Pearl River Delta had also benefited from the global buyers at the Canton Fair.

Zhou Zhitong, director of the organizing committee of the 2006 China (Lecong) Plastic Economy and Trade Fair, which runs from October 22 to 24 in the neighbouring city of Foshan, said it was advantageous for his event to run alongside the Canton Fair.

He said the plastic show had seen more foreign buyers than they invited in the past few sessions thanks to the Canton Fair.

UK household textile wholesaler Michael Brumfit said one-stop sourcing of China-made products at the fair was convenient. But he complained that local hoteliers charged too much during the fair.

"I just can't imagine how much a star-rated hotel's room rate will soar in the coming session when foreign exhibitors begin to participate in the Chinese Import and Export Commodities Fair," he said.

Editor: Yan

By: Zhan Lisheng Source: China Daily Website
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