Canton Fair 2009 in disgrace

 Aliuser at Alirens.com  was told the turn-out rate of the first session of the Fair was less than satisfactory. Many buyers who used to be coming from the US and Europe failed to show up. Suppliers picked cheaper accommodation in hostels despite hotels’ further rate-cut. 

Canton Fair night view

Photo courtesy of www.lifeofguangzhou.com

It has been reported that an emergency notice posted by the Business Office of the Canton Fair (广交会), warned firms to be balance their risk and profit while striking deals with an American buyer whose firm had gone bankrupt.

Booth charges have been slashed in Canton Fair  as demand in developed economies continue to be weakening.

 ”Standard booths in exhibition halls A and B will be cheaper by 1,000 yuan ($146), while booths in hall C will be 2,000 yuan cheaper for the upcoming 105th session of the fair,” according to the report.

This is the first time in the 52-year history of the Canton Fair that booth charges have been slashed, organizers said.

The number of attendees is down to 22,104 —  237 fewer than last year, partly because of the economic slowdown by the international financial turmoil. The total included 8,000 buyers from 48 purchase teams.

Some 395 companies from 36 countries, including 12 from five less-developed countries, would be exhibited in the import section, the organizers said.

The organizer also managed to get domestic buyers, including businessmen from large shopping malls, chain stores, and wholesale markets to participate in the fair.

State media reported that buyers had slashed their orders by $13 billion, or a third, compared with the last fair in April. The largest market for Chinese goods is now the Middle East, which bought up $2.76 billion of consumer goods compared to $1.17 billion of European orders and just $770m of orders from the United States.

Related Articles:

• Get a free 2009 Trade Directory
• Ready for the 105th Canton Fair – Chinese Import and Export Fair (广交会) ?
• China Buyers roll in to support Hong Kong Trade Fairs

 
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