GUANGZHOU, China, Nov. 29, 2010/PRNewswire-Asia-AsiaNet/ —
Buyer Attendance Decreased Slightly with Slight Growth in Turnover
Witnessing Trend of Enterprises’ Structures in Transition
China’s biggest and most influential professional trade event, the 108th Canton Fair concluded successfully on November 4th. 200,612 overseas buyers from 208 countries and regions around the world attended the fair, on par with 107th session with only a 2.38% decrease, but it was an increase of 5.7% over the same period last year. The top five countries and regions with buyers represented were: Hong Kong SAR, the United States, Taiwan Province, Iran and Russia.
This session of the Canton Fair ran smoothly. Overseas visitors were active in attending the fair and the atmosphere of negotiation was warm. Compared with the 107th session, buyer attendance witnessed a slight decrease while business turnover saw some growth, but not yet to a pre-crisis level. Compared with the figures before the Financial Crisis, it’s rare that the buyer attendance drops slightly while business turnover could achieve a slight increase. It shows that the proportion of effective buyers increased this session, however demand is affected by both the trend of recovery and expectations of uncertainty. Market differentiation also shows that different countries are in different stages of recovery of their domestic markets and that the foundations for a world-wide economic recovery have not been consolidated, and the future remains uncertain.
Mr. Liu Jianjun, Spokesman of the Canton Fair, emphasizes that with the dual impacts of rising prices for raw materials and the appreciation of the RMB, the pressure of bargaining for export enterprises is increasing greatly. In recent years, most enterprises have continuously strengthened their efforts and investments in brand-building and design innovation and generally attached great importance to the research and development of products and the concept of environmental protection. The trend of transition from OEM to ODM is quite obvious.
The next Canton Fair will run during April and May next year, once again in the city of Guangzhou, China.
SOURCE: China Foreign Trade Center (CFTC)