123rd Canton Fair Closes with Strong Growth As Export Volume Rises by 3.1 Percent
GUANGZHOU, China, May 16, 2018 /PRNewswire/ — The 123rd China Import and Export Fair, widely known as the Canton Fair, has concluded by posting robust growth in the value of deals signed. By the event’s end, total export volume reached 189.197 billion yuan (US$30.08 billion), a 3.1 percent increase from last year’s spring session and the highest total for the spring exhibition in four years.
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Machinery and electronic products still lead in trade volume with turnover of US$15.89 billion, accounting for 52.8 percent of the total. Light industrial goods achieved a transaction volume of US$8 billion, which was 26.6 percent of the gross turnover and 7.6 percent increase over last spring. Textile and garment transactions reached US$1.42 billion. The brand exhibition sector also performed well, with US$10.07 billion worth of transactions logged, which accounted for 33.5 percent of the gross turnover.
“The Canton Fair has always adhered to high quality development and we’ve upgraded the fair experience with innovative technologies as well as making it green and pro-environment, the exhibitors have showcased positive progress in new product development, brand building and diversification of market development,” said Xu Bing, Canton Fair spokesman and Deputy Director of China Foreign Trade Centre.
The most influential international exhibition in China, the 123rd Canton Fair was attended by 203,346 buyers from 214 countries and regions, a 5.3 percent year-on-year increase and the highest in five years. The number of buyers from countries included in China’s Belt and Road Initiative reached 90,576, which marked 3.86 percent year-on-year increase.
The 123rd Canton Fair also welcomed 1,076 global chain purchasing companies, 109 of which are ranked among the top 250 worldwide, including Walmart, Carrefour, Schwartz, Amazon and Aldi.
“The Canton Fair is a leading platform to connect global manufacturers and buyers. By optimizing the exhibition layout and structure, we are able to provide precise marketing and matching services to promote imports and exports,” said Xu.
About Canton Fair
The China Import and Export Fair (“Canton Fair”), is held biannually in Guangzhou every spring and fall. Established in 1957, the fair is now a comprehensive exhibition with the longest history, highest level, largest scale and largest number of products as well as the broadest distribution of buyer origins and the highest business turnover in China.