Guangzhou Fair Forecasts Fine Prospects for China's Foreign Trade

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Last updated at: (Beijing Time) Friday, May 03, 2002

Guangzhou Fair Forecasts Fine Prospects for China's Foreign Trade

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Signs suggest that China's foreign trade this year will be better than expected. Sources from the 91st China (Guangzhou) Export Commodities Fair said that a record 120,576 people visited the fair, up 18.9 percent from the previous one.

Business deals worth 16.85 billion U.S. dollars were struck at the fair, up 26.7 percent from the 90th one, said the sources. The fair closed on Tuesday in Guangzhou, capital of Guangdong Province, the China Export Commodities Fair which lasts for two weeks, is widely considered a barometer of China's foreign trade.

Experts attributed the major rise in the number of visitors and business deals struck at the 91st fair to a growing demand from a recovering world economy.

Hu Chusheng, secretary-general of the China Export Commodities Fair, however, stressed great efforts should be made to focus on innovation in commodities for export.

In the first quarter of the year, China chalked up 122.06 billion U.S. dollars in imports and exports, up 7.7 percent from the same period last year.

Exports were valued at 64.66 billion U.S. dollars, up 9.9 percent, while imports were 57.4 billion U.S. dollars, up 5.2 percent.

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