China-Guangzhou Weibo
Canton Fair Sees Rebound in First Phase
The exhibitors had made a turnover of USD 12.5 billion, up by 0.5 percent comparing with the number of a year ago.

Updated:1382430975Source:Lifeofguangzhou.com

The first phase of the 114th China Import and Export Fair closed on October 19, with a slight increase on turnover.

The first few days of the fair is specialized for machinery and electrical products. The statistics of the chamber in this sector, updated as on October 18, showed that the exhibitors had made a turnover of USD 12.5 billion, up by 0.5 percent comparing with the number of a year ago, although the number of buyers had decreased to 92,149, which was 1,380 people less than the 2012 autumn session, or 11,154 less than the 2013 spring session.

The brand name companies contributed almost half of the turnover, as the statistics showed, eight of them had made over USD 100 million each. Domestic private companies had made over 40 percent of the general turnover, while the state-owned companies and the foreign companies saw obvious decrease.

The buyers from Middle East and Africa were less enthusiastic in this autumn session than before. According to Guangzhou Daily, it was majorly due to the massive devaluation of the currencies in the emerging markets like India and Brazil since the second quarter of the year, making the export price of Chinese products looked higher and less attractive to the buyers.

"It is very hard to receive an order this year," the manager of a Zhejiang company selling sanitary products mainly to Middle East, South America and Southeast Asia told the reporter, "South America and Southeast Asia are better, but the buyers from the Middle East are very sensitive with the price. They won’t buy even if the price is just slightly higher."

The second phase of the 114th Canton Fair will open on October 23, majorly exhibiting consumer goods, gifts and family decors.

(By Lynus Tan, Rik Glauert)

Editor:Lynus Tan
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