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BIZCHINA / Top Biz News |
US$37b export deals sealed at Canton FairBy Zhan Lisheng (China Daily)
Updated: 2007-10-31 09:46 The 102nd session of the China Import and Export Fair (Canton Fair) concluded yesterday, with export deals reaching US$37.45 billion. The figure represents growth of 2.9 percent from the 101st session in April and 10 percent from the 100th session a year ago. According to Xu Bing, spokesman for the Canton Fair, mechanical and electrical products occupied the lion's share of the deals, with transactions reaching US$15.62 billion - 41.7 percent of the total and growing 6.4 percent from the 101st session. Light industrial products occupied the second place, with deals of US$12.18 billion, or 32.5 percent of the total. Xu said several commodity categories that are witnessing tariff rebate policy adjustment saw a dip in their transactions, among which were garments, footwear, toys and motorcycles. Deals of garments fell 8.8 percent from the 101st session to US$3.02 billion; footwear, 9.2 percent to $1 billion; toys, 10.7 percent to $900 million; and motorcycles, 30.7 percent to US$290 billion. He said most deals were struck with businesspeople from the European Union, the United States and the Middle East. Those with Asian countries including South Korea, Kyrgyzstan, Tajikistan and Uzbekistan saw a major leap. Deals with businesspeople from the European Union were worth US$12.05 billion, up 7.1 percent; the United States, US$5.83 billion, up 7.8 percent; and the Middle East, US$4.42 billion, up 3.9 percent. Delegations from coastal regions including Guangdong, Zhejiang, Jiangsu, Shandong and Shanghai won most of the deals, he added. Deals the Guangdong delegation raked in were worth US$9.73 billion; Zhejiang, US$4.91 billion; Jiangsu, US$3.95 billion; Shandong, US$3.18 billion; and Shanghai, US$1.88 billion. Data on import deals were not available. The spokesman said the fair's organizing committee verified that 537 exhibiting firms, including three from abroad, violated IPR, and rid five Chinese firms that have been found to have violated IPR twice, of the exhibition qualification for six consecutive sessions in the next three years.
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