China’s largest trade fair takes on greater role in global economic downturn
GUANGZHOU, China, April 1, 2012 /PRNewswire-Asia/ — As the United States and Europe grapple with economic uncertainty, the Canton Fair has become an even more essential platform for foreign businesses seeking trade opportunity and new territory for business.
(Video: http://www.multivu.com/mnr/55419-tap-into-the-china-opportunity-at-the-canton-fair )
(Photo: http://www.prnasia.com/sa/2012/02/15/201202151945196456.jpg )
The Canton Fair is the largest trade fair in China, drawing the best of Chinese manufacturers and more than 2,000 foreign companies from over 50 countries every year, including the US, Japan, Germany, Italy and the UK. In response to the global economic crisis, the fair had adapted in recent years to present new opportunities for foreign and Chinese businesses, as well as buyers.
“A restructuring global economy offers opportunities for trade, as well,” Zhong Shan, China’s Vice Minister of Commerce, said in a recent speech. “When preparing for the Canton Fair we have to follow the notion of scientific development and the ‘Steady Growth, Adjust Trade Structure and Promote Trade Balance’ policy to seize the opportunities and take on the challenges.”
The 111th session of the Canton Fair comes at an ideal time for foreign businesses as the Chinese government has also decided to boost imports to achieve a more equitable trade balance as part of its 12th five-year plan.
Luigi Capretto, owner of a Italian company called Foccacia Tech which makes bespoke air-conditioning units, says his business has boomed since he first started exhibiting at the 2004 Canton Fair, a year after first visiting as a buyer. “The Canton Fair put me in touch with many Chinese property development companies, architects and designers and now I even manufacture in China,” he says.
Foreign buyers will find plenty of opportunities to connect with Chinese businesses at the fair, as well. Robert ZQB, president of Spectra Cina, Inc., said he first exhibited at the fair in 1994 and now conducts about $50 million worth of business each year as a buyer. “In just 15 days, we can see the best products assembled in China, which makes us feel like we’ve had a travel all around China,” he said.
The 111th session of the Canton Fair will be held from April 15 to May 5 at the China Import and Export Fair Complex in Guangzhou, China.
For more information, please visit: http://www.cantonfair.org.cn
SOURCE: China Foreign Trade Center (CFTC)