| 104th Canton Fair kicks off |
| Thursday,October 16,2008 Posted: 11:12 BJT(0312 GMT) Canton fair News |
On October 15, 2008, the 104th Canton Fair, which is recognized as the barometer of Chinese foreign trade, opened in Guangzhou. The crowded attendees on the first day indicated a high popularity of the fair. Under the influence of the global economic situation, this fair will provide the "last chance" for many enterprises to win the orders. Meanwhile, many enterprises are willing to make a judgment and forecast on the economic development of next year through the fair. Considering the outbreak of the financial crisis in the USA, before the opening of the fair, both the attendees and the related parties wondered whether this canton Fair would be as popular as those held before, and whether there would be so many deals made through the fair. Most attendees worried about that there would be less purchasers and orders at this fair. The products first exhibited at the fair include consumer electronics, electrical and electronic products, hardware, auto parts and illumination products. Some people predicted that there would not be a great number of purchasers attending the fair. However, at around 10:00am, many foreign purchasers were found walking on road to the Chinese Export Commodities Fair Pazhou Complex. Similarly, many foreign purchasers could be found in front of the booths of the fair. Bai Chongyang, general manager of Xiamen Sun Young Corporation which exhibits its products on the Booth F20 of Construction Material Exhibition Area 11.2, said that, in case of such an international economic situation, it could be a great surprise that so many people attended the fair on the first day. In such a special period, most attendees from different provinces of China expect to feel the "temperature" of the future economic development at the fair. Many enterprises admit that, the Canton Fair will be the last chance for a turnover before the settlement at the end of the "hardest" year. They hope that the fair could be a "wind vane" which is indicative to the economic development of the next year. Because of the disadvantageous international economic circumstance and the tight situation of foreign trade, many Chinese enterprises urgently want to develop more customers through the fair. An employee from Guangzhou Xinhui Aluminum Products Co., Ltd said that, influenced by the financial crisis, their company got no more orders than they did last year so that they failed to reach their goals for this year. He also gave an example. The orders got by the company from Indonesia last year reached about $500, 000 to $600,000, which was far higher than that of this year. So they hoped that more customers could be developed through this fair. He said, "It is a hard year for foreign trade development, and we consider this fair to be the last chance for the development in this year." |
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