GUANGZHOU, China, Nov. 20, 2015 /CNW/ -- Closing on November 4, the 118th installment of the Canton Fair - China's most prestigious trade event - showed slight decrease of overall buyer attendance as well as growth in key areas. 177,544 overseas buyers from 213 countries and regions around the world attended the Fair, a decrease of 4.6% over same period of last year. However, overcoming widespread concern over currency fluctuations, sales of certain key products were significantly up, while many purchasing countries also showed an encouraging increase in buyer numbers.
According to the organizer, the first three days of the Fair witnessed better-than-expected sales for many major Chinese industrial sectors, with home appliances, computers and communications equipment all showing a year-on-year increase in the number of contracts signed. Other high-tech sectors such as mechanical and new energy products also showed an increase in contract volume.
The Chinese home appliance industry, with recent advances in smart products and automation underpinned by cutting edge design, took the lead in attracting the most buyers. Turnover of home appliances in the first session saw a year-on-year increase of nearly 10%, with firms such as Haier, Midea, Hisense and Galanz each making sales of over USD100 million.
These figures aptly illustrate the rising core competitiveness of Chinese appliances. Hisense, for example, has now taken out over 170 patents for its innovative smart televisions.
Hisense is typical of the many Chinese companies exhibiting at Canton Fair who are now focused on developing a new competitive edge in the international arena through enhanced innovation, branding, quality, service and environmental awareness.
The Canton Fair's International Pavilion also proved a big success, attracting over 90,000 visits by November 3. Boasting over 600 companies from 40 countries, the International Pavilion saw its number and diversity of exhibitors significantly up on previous events. There were many famous international brands in attendance, while leading Chinese companies such as Suning and Vanguard sourced products here.
There were also encouraging signs for China's "Belt and Road Initiative" at the Fair. The number of buyers from the South Asian Association bloc, Saudi Arabia and Vietnam all increased, while Thailand (nearly 400%), Sri Lanka (103%), Serbia (97%), Hungary (44%) and Jordan (38%) all boosted their purchasing volumes significantly.
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SOURCE Canton Fair
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