112th Canton Fair opens with hope despite economic slowdown

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Category: Ningbo Business

Published: Tuesday, 23 October 2012 14:14

The 112th China Import and Export Fair, widely known as the Canton Fair, officially kicked off on Monday in Guangzhou, capital of South China's Guangdong province. More than 1,300 Ningbo companies signed up for the fair and booked more than 2,900 booths, said the Ningbo Trade Group last Sunday. The first phase of the fair will attract more than 600 Ningbo exhibitors, a similar figure to the previous session, and the number of participants is estimated at over one million.

The Fair covers a total area of 1.16 million square meters, with a total of 59,509 booths. The indoor exhibition area amounted to 546,000 square meters. The Canton Fair, lasting from October 15 to November 4, is divided into three phases. The first phase, focusing on Machinery, Electrical and Electronic products, lasts form October 15 to 19. The second phase, focusing on Home and Decoration, lasts from October 23 to 27. The third phase, focusing on textiles, garments, fashion accessories and food, lasts from October 31 to November 4.

This session of Canton Fair will continue to set up the International Pavilion in the first and third phase, with 894 booths in seven product areas, attracting 552 overseas exhibitors from 44 countries and regions.

The Organizing Committee said they are prudently optimistic about the turnover during this Canton Fair as export and domestic demand kept fading amid an uncertain global economy. China's export and import growth might keep low growth rate in the next few months or even the first half of next year.

Gang Yong, leader of Ningbo Trade Group, said in yesterday's trading group meeting that Ningbo's international trade has been challenged by an uncertain global economy since the second half of 2012. The weakening external demand, the RMB appreciation, growing inclination of trade protectionism, rising cost, and fierce competitors from surrounding provinces hit trade prospect of Ningbo's exporters. "We have to take the initiative in the tough situation. Ningbo has developed processing industry, and we need to show this advantage through the fair. We are ready for an order battle, and win more orders for this year."

Gang added, Ningbo's exporters, long been targeting at European and American markets, are vulnerable to the current economic weakness in Europe and America. It is a good opportunity to seek potential customers from emerging markets like Brazil, and South Africa.