The 122nd Canton Fair Closes with US$30 Billion Turnover, Showing Stable Overall Trade Situation
GUANGZHOU, China, Nov. 13, 2017 /PRNewswire/ — The 122nd China Import and Export Fair (Canton Fair) ended successfully on November 4 with a total of 191,950 buyers from 213 countries and regions attending, up by 3.36% over the 120th session.
The cumulative export turnover reached 198,65 billion yuan (US$30.16 billion), marking an 8.2 percent year-on-year increase.
Machinery and electronic products continued to lead in trade volume, making up 52.7 percent of the total turnover, seeing a 5.4 percent year-on-year increase. This was followed by light industrial products and textile and clothing. Turnover at the brands sections has grown by 13.6 percent, while the pet sector also received large number of inquiries.
Xu Bing, spokesman for the Canton Fair, noted that the fruitful results were achieved thanks to the growing number of buyers and their purchasing power.
Some participants include:
- 84,445 buyers from Belt and Road Initiative countries with a 3.48 percent year-on-year increase;
- A total of 104 companies listed in the latest Top 250 Global Retailers, including eight of the top 10 companies among which were Walmart, Kroger, Walgreens Home Depot, Carrefour, Aldi, Tesco and Amazon;
- 1,086 international companies and sourcing groups, such as Auchan (France), KESKO (Finland), Taurus (Spain), Staples (US), Harbor Freight Tools (US), Lifetime Brands Inc (US), Kawan Lama Group (Indonesia) and LOCK&LOCK (South Korea).
In addition, the 122nd Canton Fair hosted 50 events that covered trending topics in the international market, industry forum, design and innovation discussion, technology R&D, branding and marketing, regional industry promotions and new product releases.
Some of the events were:
- “UAE on the Belt and Road” – China-UAE Purchasing Matchmaking;
- The Canton Fair (UK) international market forum;
- The Canton Fair Sourcing Day-United Nations and International Organization.
“We are thrilled to see the Canton Fair continuing to promote global trade by maintaining optimizing exhibition sections to improve the precision in attracting investment,” said Xu. “We wish that in the upcoming 123rd Canton Fair we will meet more new businesses and work together to reshape the international trade market, taking it into a new era.”
About Canton Fair
The China Import and Export Fair, also known as the Canton Fair, has been held biannually in Guangzhou since 1957. It is the largest exhibition with the widest array of products, most diverse selection of buyers and highest business turnover in China.https://syrianewsgazette.com/the-122nd-canton-fair-closes-with-us30-billion-turnover-showing-stable-overall-trade-situation/General