110th Canton Fair closes
2011-November-9 Source: english.gz.gov.cn
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With Europe in debt crisis, world economy struggling for recovery and China's 10-year in WTO in the background, the 110th Canton Fair opens and closes. This year's Affair has attracted 210 countries and areas, and more than 200,000 buyers, which breaks once more the record. The export transactions reach $37.9 billion. But deals with Europe and America were reduced sharply under the influences of their own economy environment.

The spokesperson for the Fair, Mr. Liu Jianjun said that the "old comers" increase steadily to 66%, with the 138,579 old buyers coming to this year's fair represents a 2.9% increase on the same period last year. Further, among those more than 27,000 persons were from companies that have attended the Canton fairs more than 15 times; up 11.1% on the same period last year. Over 70,000 of the fair goers this year were new buyers, which represents a drop of 2.5% on last year.

However on the bright side, with business turnover for this year rising to $37.9 billion, this does indicate that the volume of business is still recovering quite well. Potential markets, such as Africa, Asia and Latin America are in lead with a 39% growth. Japan's purchasing has also expanded after the earthquake, with 29% more of their buyers attending, which in effect increased their turnover by 28%. India, Russia and other emerging markets, grew by 9%.

Overall transactions with European countries and America were greatly reduced Mr. Liu said, even though there were more of their buyers present, with most observing and enquiring, and their actual gross turnover was respectively reduced by 19% and 24%. This downturn Mr Liu attributed directly to Europe's sovereign debt crisis and American high unemployment.

(Translated by Guangzhou Association of Foreign Affairs Translators)

Editor: Olivia
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