| Electric appliance steals show |
| Friday,October 17,2008 Posted: 11:16 BJT(0316 GMT) Canton Fair News |
 In defiance of the financial crisis, household electric appliance companies stole the show at the current 104th Canton Fair. On the first day of the fair, the household electric appliance zone became a focus of the domestic and foreign buyers. Almost all famous brands in China, such as Haier, Gree, Hisense, TCL, Changhong, Chunlan, Chigo and Galanz, made their debut at the fair. However, the high-profi le debut is based on the unoptimistic international fi nancial background. Infl uenced by the appreciation of renminbi and the depreciation of the US dollar, China's exports of household electric appliance have decreased by big margin. Statistics indicate that among the main exported products of the 11 categories that exceeded a value of $1 billion in 2007, electric fan, electric heater and microwave oven showed a negative growth of 21 percent, 11.9 percent and 2.1 percent respectively this year. Output growth of the four products of air-conditioner, compression refrigerator, washing machine and vacuum cleaner also saw a big-margin decrease. Staff members at the overseas departments of Haier, TCL and Chunlan show that price hike of raw materials, international fi nancial crisis and the appreciation of renminbi have infl uenced "Made in China" products as well as their overseas business expansion. The fair has not only tightened relationship with overseas customers but also provided a platform for Chinese household electronic appliance enterprises to showcase their strength. A staff member from the market department of Chigo believed that an enterprise should,in order to cope with international fi nancial changes, commit itself to independent innovation and developing products with independent intellectual property right to be upbeat in the market. Professionals who can understand changes of international fi nancial environment and development trend of international economy should also be trained. |
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