The 119th Canton Fair Draws to a Close with Business Deals Totalling USD28 Billion
GUANGZHOU, China, May 11, 2016 /PRNewswire/ — The 119th China Import and Export Fair (Canton Fair) drew to a successful close on May 5. Total accumulated deals at the show amounted to RMB182.288 billion (USD28.084 billion).
The number of overseas visitors to the Fair rose to 185,596, a 0.43% year-on-year increase; with Hong Kong, India, the U.S., Taiwan, South Korea, Thailand, Malaysia, Russia, Indonesia and Australia the ten most well represented. 92 of the Top 250 Global Retailers in 2015 — including Wal-Mart, Home-Depot, Tesco and Carrefour – were also in attendance together with representatives from over 200 other countries and regions across the world.
Of the overseas buyers, 39.44% were from the electronics and electrical household appliances industries, 30.49%, 28.45% and 27.05% respectively were from the consumer goods, home decorations and gifts industries and 24.26% represented the machinery sector.
Commenting on the deals made at the event, Xu Bing, spokesperson of the Canton Fair, said, “Most orders were made within the Brand Zone where the trading number reached USD 9.32 billion, 6% more than last year and 33.2% of the total trading volume. This shows buyers have clear preferences for doing business in this way, and that there is less sensitivity to price changes but more focus on product and service quality.”
As organizer, CFTC made a number of improvements to this edition of the Canton Fair, focusing most notably on rules, operations and management, safety and overall services. One example is the significant advancements in intellectual property protection, with its designated reception center to deal with any concerns over potential infringements.
Also CFTC drove the “Smart Canton Fair” by integrating social media platforms such as Facebook and LinkedIn, launching “Highlight Products”, improving its WeChat service account, and providing more accommodation and travel service options. About 25,000 new buyers registered through social media and search engines.
The 120th Canton Fair will open in October 2016 and will continue to provide an outstanding exhibition service platform for all attendees.
About Canton Fair
China Import and Export Fair, also known as the Canton Fair, is held biannually in Guangzhou every spring and autumn. Established in 1957, the Fair is a comprehensive exhibition with the longest history, highest level, largest scale and largest number of products as well as the broadest distribution of global buyers and the highest business turnover in China.