Canton Fair Points to Drop in Exports

Sales at China's most famous trade fair have dropped 20 percent amid the global financial crisis, organizers said yesterday.

Transactions at the 105th China Import and Export Fair, or Canton Fair, totaled $13.03 billion, a 20.8-percent drop from the same phase of the 104th session last October, Mu Xinhai, deputy secretary-general of the fair, said.
Figures from the fair have long served as a gauge of China's foreign trade.

A total of 82,520 foreign buyers were present during the fair's first phase from last Wednesday to Sunday. This was a 5.4-percent drop on the comparable period of the 104th session.

According to Mu, there was a decrease in the number of trade deals with the European Union (EU), Japan, Australia and the United States - China's four key export partners. This included a 38.6-percent decrease with the EU, 36.5 percent with Japan, 11.2 percent with Australia and 4.9 percent with the US.