Canton Fair: record overseas visitors fail to inspire bumper sales, but some Chinese exporters fare ‘much better’
- A record 246,000 international visitors flocked to the spring session of the Canton Fair, but deals signed rose by only 10 per cent from the previous edition
- Organisers said around 160,000 visitors attended from countries involved in China’s Belt and Road Initiative, with 50,000 from Europe and the US
Overall transaction volumes at the spring edition of China’s largest trade event rose by only 10.7 per cent from the previous edition despite overseas visitor numbers hitting an all-time high.
Participants at the spring session of the semi-annual Canton Fair signed US$24.7 billion worth of deals during the three-week event, organisers confirmed on Sunday.
But the figure for the fair, which is widely seen as a gauge for the health of China’s trade and industrial progress, was noticeably below the US$29.3 billion from the last pre-pandemic fair in late 2019.
Visitors from Europe and the US only numbered 50,000 – representing less than a quarter of all overseas buyers – despite growing by 11 per cent from November’s edition.
Organisers did not disclose transaction data for European and American buyers, other than to say that the per capita price per customer was “high”.
By contrast, around 160,000 visitors attended from countries that have signed up to China’s belt and road plan, representing an increase of 25 per cent from the last fair.
Interest came mostly from India and Middle Eastern countries, said Xie Junping, a fabric exporter from the eastern province of Zhejiang.
Orders were “much better” than in October and November, he said, estimating a 20 per cent increase.
Products from China’s booming alternative energy and smart tech sector dominated the displays during the fair, with visitors flocking to booths for electric vehicles and smart mobility devices.
Yan Wei, a sales manager from the Yueda Intelligent Agricultural Equipment in the eastern province of Jiangsu, said visitor numbers and order volumes were “much better” than the previous fair in the autumn, estimating that new orders had increased by 10 per cent.
“Not too many American buyers were interested in our new products, but there were a few Canadian merchants and one customer had already signed an order for a prototype,” he said, adding that the firm was focused on growing exports to Russia, the US, South America and Europe.
One of their main products, a tractor designed to meet North American emission standards that also has hydrostatic transmission technology, was priced at about 60,000 yuan (US$8,288), nearly 50 per cent cheaper than models offered by competitors from Japan and South Korea.
“Competition in our industry is fierce, and prices have been transparent for a long time. There is no room to cut prices,” added Yan.
Canton Fair organisers said they expected momentum from the event to continue, with buyers making appointments to visit factories and inspect production capacity.