113th Canton Fair deals rebound
2013-May-6 Source: Newsgd.com
Text Size: A A A | Print | Share by E-mail:

The spring session of the Canton Fair, China's largest trade fair, saw increased overseas buyers and larger trade deals in comparison to last year's autumn session, event organizers said on May 5, indicating that trade may see a modest recovery this year.

The 113th session of the Canton Fair received 202,800 overseas purchasers, up 7.06 percent from the previous session held last October, said fair spokesman Liu Jianjun, who is also deputy director of the China Foreign Trade Center. Liu added that the value of trade deals struck at the biannual event reached 35.5 billion USD, an increase of 8.8 percent from the last session.

"The number of buyers from emerging markets, especially from Africa, and Australia, increased a lot, sending a signal that demand for Chinese products in these regions is increasing," said Liu who added that orders from BRICS members India, Brazil, Russia and South Africa increased 5.2 percent year-on-year, while those from Middle Eastern countries rose 3.8 percent.

The number of overseas purchasers and the total trade value, however, came in at 3.8 percent and 1.4 percent, respectively, lower than that of last year's spring session, said Liu who added that although this year’s trade situation is improving, there has not been fundamental improvement in external demand and trade pressure is far from relieved.

Chinese exporters face many challenges, including higher labor and materials costs, the appreciation of the yuan, higher fundraising costs and increasing trade friction. About 84 percent of orders placed at the fair came from agreements with terms of six months or less, Liu said.

"This shows that global buyers have remained cautious in clinching long-term orders due to the effects of the global financial crisis," said Liu. "Chinese exporters are also unwilling to accept long-term deals due to fluctuations in raw material prices and foreign exchange rates," Liu said.

Transactions were down however in traditional markets. European deals sank nearly five percent and decreased 0.5 percent with the United States. Activity decreased the most in Japan which plummeted 12.6 percent.

"Chinese exporters should attach more importance to diversifying sales in emerging markets as there is still weak demand from traditional buyers, especially those from Europe," Liu added.

1   2   Next  

Editor: Olivia
Related News
This site contains material from other media for content enrichment purpose only. The Southcn.com website do not endorse such content and do not bear the joint responsibility of their copyright infringement. The views expressed in written material posted to the bulletin boards of Southcn.com are those of the authors and/or publishers. The Southcn.com website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content. For copyright infringement issues, you shall contact Southcn.com within thirty (30) days. Email: falv@southcn.com
Info for Non-Residents