| The 105th Canton Fair closed with 26 billion-U.S. dollar export orders |
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| Friday,May 08,2009 Posted: 15:54 BJT(0754 GMT) |
| From:www.chinaview.cn Article type:Redistributed |
GUANGZHOU, May 7 (Xinhua) -- China's leading trade fair, known as Canton Fair, ended Thursday with export orders valued at 26 billion U.S. dollars, down 16.9 percent compared to the previous fair last October, disclosed by the fair's organizers.
The Canton Fair, with a history of 52 years, opened with the world's close attention amid the global downturn as a barometer for China's import and export situation. Fair sales showed that China's economic situation is still grim despite of the "positive signs".
Mechanical and electrical product deals, which account for half of China's exports in money terms, reached 11.3 billion U.S. dollars, down 19.5 percent. Textile deals was 1.6 billion dollars, down 15 percent, and the daily commodities down 2.4 percent.
More than 165,000 oversea buyers attended the fair, down 5.1 percent from the previous fair.
Although Europe and America are still the major markets for China, the deals are down 28 percent and eight percent respectively compared to the previous fair while agreements increased in new markets, said Mu Xinhai, fair spokesman. China's exports to Argentina, India and the Association of Southeast Asian Nations rose ten, six and seven percent respectively, Mu said.
More companies also turned to the domestic market. Two domestic trade sub-fairs were held during the Canton Fair. Deals volume exceeded 460 million yuan (about 67.6 million U.S. dollars) at one of the fairs, Mu said.
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