Of­fi­cial: Weak trade to im­prove sig­nif­i­cantly

China Daily (USA) - - BUSINESS - By QIUQUANLIN and JING SHUIYU in Guangzhou

China’s weak trade will sta­bi­lize and im­prove sig­nif­i­cantly in the months ahead, as de­clines nar­row steadily and the trade struc­ture has been op­ti­mized, ac­cord­ing to a trade sec­tor in­sider.

“A se­ries of new pos­i­tive fac­tors have emerged, con­tin­u­ing to drive the growth of foreign trade,” said Xu Bing, spokesman of the China Im­port and Ex­port Fair, also widely known as the Can­ton Fair.

The 120th Can­ton Fair, which is held twice a year, will open in Guangzhou, the cap­i­tal of Guang­dong prov­ince, on Sat­ur­day, at­tract­ing 24,553 com­pa­nies from home and abroad to dis­play their prod­ucts.

The bian­nual fair, the coun­try’s largest trade event, is con­sid­ered an im­por­tant barom­e­ter of China’s foreign trade.

The num­ber of in­ter­na­tional buy­ers this time will be around 200,000, a slight in­crease over the same pe­riod of last year, ac­cord­ing toXu.

Xu said about 1,700 com­pa­nies, which have de­vel­oped com­pet­i­tive­ness in in­no­va­tion and brand­ing, would be show­cased in the fair.

“With a steady in­crease of foreign buy­ers and ex­hibitors, we ex­pect a slight in­crease in trade trans­ac­tion vol­umes dur­ing the fair,” Xu said.

China’s foreign trade vol­umes shrank by 1.9 per­cent year-on-year to 17.53 tril­lion yuan ($2.6 tril­lion) in the first nine months of the year, whiles ex­ports de­clined to 10.06 tril­lion yuan, down 1.6 per­cent from that of last year. The over­all trade per­for­mance, how­ever, im­proved on a quar­terly ba­sis, as it in­creased by 1.1 per­cent year-on-year in the third quar­ter.

Zeng Dex­i­ang, pres­i­dent of Guangzhou Bosma Tech­nol­ogy Co, said the com­pany’s ex­ports im­proved slightly in the last quar­ter as more cut­ting-edge prod­ucts be­came pop­u­lar items in de­vel­oped mar­kets.

LIN GUIYAN / FOR CHINA DAILY

Foreign vis­i­tors ex­am­ine a juice ex­trac­tor on dis­play at a Can­ton Fair held in Guangzhou, cap­i­tal of Guang­dong prov­ince.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.