China News recently reported that China’s largest trade show, the China Import Export Fair (also known as The Canton Fair), closed on May 5 in Guangzhou, Canton Province. The 115th Canton Fair, widely regarded as “China’s International Trade Barometer,” attracted significantly fewer foreign attendees than last year, while the volume of signed export agreements also fell. Over 55 percent of the foreign procurement representatives were from Asia. Those from Europe and North American combined held only around one third of the foreign customers. The main region that saw an increase of the number of buyers was Africa. This round of the Canton Fair concluded with a total export volume of US$31 billion, which represented a 12.64 percent decrease from last year. The Spokesperson for the Fair indicated that the outcome was slightly disappointing; however, it correctly reflected a very slow recovery of the global economy, especially in China’s “traditional European and American markets.” Another key observation at this Fair was that most (more than 80 percent) of the contracts were short-term contracts (less than six months into the future).
Source: China News, May 5, 2014