The 120th Canton Fair Concludes with Increasing Trade Volume of USD27.89 billion
GUANGZHOU, China, Nov. 9, 2016 /PRNewswire/ — The 120th China Import and Export Fair (the Canton Fair) successfully closed on November 4, 2016 with the total exports deals of 187.301 billion yuan (USD27.89 billion), a 3.2 percent year-on-year increase compared with the 2015 Canton Fair in fall. 185,704 buyers from 213 countries and regions participated at the fair, seeing a 4.6 percent year-on-year growth.
This year’s Canton Fair embraced more international buyers mostly for electronics & household electrical appliances, consumer goods, home decorations, gift and machinery. Number of buyers from Asia, Europe, the Americas and Oceania showed 4.22 percent, 6.53 percent, 10.91 percent and 0.11 percent year-on-year growth respectively.
Xu Bing, Canton Fair spokesman and deputy director of China Foreign Trade Centre, noted that the concept of the 120th Canton Fair was to emphasize on innovation development and global industrial insight sharing. “Continually growing for 60 years into an international and open platform for global professionals to exchange ideas and share information, the Canton Fair now marks the latest demonstration of technological achievements and industrial trends worldwide.”
Mechanical and electrical products takes lead in trade volume at the 120th Canton Fair with USD15.10 billion, a 1.8 percent year-on-year increase, making up 54.1 percent of the total turnover. It’s followed by light industrial products, achieving USD7.2 billion and textile and clothing with USD1.63 billion.
The trade volume tops in the European Union (USD7.1 billion), BRIC (Brazil, Russia, India, China) (USD3.8 billion) and US (USD3.71 billion) with year-on-year increase reaching 5.6 percent, 11.5 percent and 14.7 percent respectively.
Xu indicated that the increasing amount of deals and participants is one of the positive outcomes from Canton Fair’s innovative and multi-functional development as a comprehensive fair. “The number of pre-registered buyers via our global new media channels reached 70,000 this year.”
About Canton Fair
China Import and Export Fair, also known as the 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.