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   Home-Specials-94th Canton Fair-Headline
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Guangzhou fair sets records
Latest Updated by 2003-10-31 11:27:52

Related Special:   94th Canton Fair>>>

Domestic exhibitors clinched export deals worth a record US$20.49 billion at the 94th session of the Chinese Export Commodities Fair, which concluded yesterday (October 31st) in Guangzhou, the capital of Guangdong Province.

The figure represents a growth of 11.6 per cent compared with the 92nd session of the fair a year ago.

Xu Bing, spokesperson and deputy secretary-general of the fair said the boom at this session made up for the slump at the 93rd session early this year (2003) when China was struck by the SARS epidemic.

Xu said machinery and electronic products earned the lion's share of the foreign exchange, with total deals valued at US$8.2 billion or 40.1 per cent of total volume.

He said the number of purchasers also reached a historical high.

150,485 business people visited the fair, up 11 per cent from the record of 135,000 at the 92nd session a year ago (2002).

Of the visitors, 56,425 were here for the first time.

"That indicates that our efforts to secure international purchasers have paid off," Xu said.

Deals with business people from the European Union and the United States were the most lucrative, accounting for 47.7 per cent of the total volume.

Deals with European firms were worth US$6.1 billion. Those with US firms totalled US$3.67 billion.

Xu said trade delegations from Guangdong, Zhejiang and Jiangsu provinces inked a noteworthy 46 per cent of the total deals.

Guangdong made deals worth US$5.15 billion; Zhejiang, US$2.33 billion; and Jiangsu, US$2.15 billion.

Xu said centralized purchasing by major international firms and online negotiations continued to play an important supplementary role at the fair.

Transnational purchasing groups - Central Purchasing and QVC of the United States, and France-based Auchan - were again invited to the fair.

So too was the United Nations Development Programme.

The fair introduced centralized purchasing at the 93rd session of the fair in April.

The online negotiation platforms of www.cantonfair.org.cn, www.ec.com.cn and www.chinamet.com.cn also helped generate deals of intention worth US$290 million and deals confirmed worth US$76.64 million by Wednesday, up 12 per cent and 56 per cent respectively from the 93rd session.

For the first time, the fair made use of the Guangzhou International Exhibition Center for some of its displays.

4,175 business representatives from 105 countries and regions worldwide visited the new exhibition complex. In addition, deals clinched there were worth US$540 million.

Editor: Catherine

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By: Source:China Daily
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