124th Canton Fair Records US$29.8 billion In Turnover, Hosts More than 70,000 New Buyers
GUANGZHOU, China, Nov. 12, 2018 /PRNewswire/ — The 124th edition of the China Import and Export Fair (Canton Fair, or “the Fair”) has wrapped up after recording substantial increases in export orders to countries in China’s Belt and Road Initiative (BRI). Total export turnover reached 206.5 billion yuan (US$29.8 billion), with 77,733 new buyers attending the Fair, a jump of 2.34%, and buyers from countries and regions along the BRI growing by 0.16% to 84,578.
The Fair hosted a total of 189,812 buyers from 215 countries and regions, while seven of the top ten buyers were BRI countries and regions the such as India and Russia. Exports orders from those countries and regions increased 2.7% to US$9.63 billion, accounting for 32.3% of the total value of orders placed, representing a 2.7% year-on-year increase.
Xu Bing, Deputy Director General of China Foreign Trade Centre, said, “The increasing number of buyers from developing countries and emerging markets at the Fair reflects the optimized structure and steadily-improved quality of buyers.” Diversified global buyers can help enterprises efficiently consolidate traditional markets, explore emerging and potential markets, and optimize their layout in the international market.
Turnover of machinery and electronics products reached US$16.187 billion, while that of light industrial products reached US$7.299 billion, while that of textiles and apparel US$1.514 billion.
Buyers from the electronic and home appliances sectors accounted for 40.2% of total attendance. Buyers looking for consumer goods accounted for 31.3% of total. Home decorations, gifts and machinery buyers accounted for 28.28%, 26.82%, and 26.37%, respectively.
110 out of 250 of the world’s top retailers joined the Fair, with 9 out of the top 10 in attendance, including Wal-Mart, Costco, Kroger, Schwartz, Carrefour, Home Depot, Wallgreens, Amazon and Aldi. Buyers participating Multinationals Sourcing Service included US Harbor Freight, Staples, Lifetime Brands, KESKO Group, Auchan and Lock & Lock Co., Ltd.
For more information, please visit: http://www.cantonfair.org.cn/
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.