The 2009 International Sourcing Fair in Shanghai, which ends today, made foreign buyers happy but disappointed a few domestic suppliers because of fewer orders and lower prices.
"We are quite happy with the results," said Michael Mayhaus, purchasing manager with Amazonen-Werke H Dreyer GmbH & Co, a German agricultural machinery producer. "Can you believe I received 60 contacts in two hours on the first day of the fair and found many of them are quite good?"
It was the second time Mayhaus had taken part in the fair.
Mayhaus said the company would significantly increase its purchases in China because of its competitive prices, instead of sourcing in Europe.
But Chinese suppliers were not as satisfied with many complaining about the difficulty in obtaining orders.
"We got nothing from the fair this time," said Zhang Jiong, president of Shanghai Qianbo Co, which makes knitted sweaters. "The demand from overseas markets seems to remain bad."
A two-day auto part sourcing fair, part of the event, opened at Shanghai Automobile Exhibition Center in Jiading District yesterday. Attracting 42 companies from 15 countries, the organizers expect it will secure orders of US$2 billion worth of parts.
Meanwhile, IZB, a leading European trade fair for the automotive supplier industry, is to be held in Shanghai next March.
It is being held outside Europe for the first time.