Latest News:  
Beijing   Sunny    26 / 12 ℃  City Forecast

People's Daily Online>>China Society

China bullish about Canton Fair

By Li Jiabao and Xu Jingxi in Guangzhou (China Daily)

11:06, April 15, 2012

China is "prudently optimistic" about the result of this week's 111th Session of the China Import and Export Fair, or the Canton Fair, the Ministry of Commerce said on Saturday, a forecast that augers well for increased foreign trade.

"We have a prudently optimistic expectation about the export deals during this Canton Fair. We estimate that the value of orders placed by overseas buyers will maintain the record of $37.9 billion set in the autumn session of the 110th Canton Fair last year," Liu Jianjun, deputy director-general of the China Foreign Trade Center of the ministry, told a news conference.

China's GDP grew a less-than-expected 8.1 percent year-on-year in the first quarter, the least in almost three years after an 8.9 percent gain in the fourth quarter, as export and domestic demand cooled, according to data from the National Bureau of Statistics on Friday. The nation reported a moderated import growth of 5.3 percent in March from a year earlier, the General Administration of Customs said on Tuesday, and exports rose 8.9 percent year-on-year.

China's foreign trade development is challenged by an uncertain global economy, Liu said. "The EU debt crisis still haunts the bloc, while major developed economies are troubled by high unemployment and insufficient growth momentum, and emerging markets suffer inflation and a slowdown in growth.

"However, the global market still has a strong demand for China's highly competitive exports," he said, which is why authorities expect the spring fair to generate sales near the record value of the last session.

More than 200,000 foreign buyers will come to the fair (April 15-19), while 104,000 domestic exporters have also applied to attend, according to a news release from the fair.

Wang Yuwen, an analyst with the Finance Research Center of the Bank of Communications, said that "China will regain export growth in the second quarter".

【1】 【2】


Leave your comment0 comments

  1. Name


Selections for you

  1. Yushu holds meeting of reconstruction work

  2. DPRK elects Kim Jong Un as supreme leader

  3. The "Unknown Child" that died on Titanic

  4. Finding the magic in light

Most Popular


  1. Security cooperation is SCO's shining point
  2. Syria ceasefire is not negotiable
  3. Freedom of speech does not protect rumors
  4. China's state-owned firms not 'non-market' entity
  5. China should be patient during peaceful rise
  6. Respond calmly to 'China threat theory'
  7. Why are Chinese goods more cheap abroad?
  8. Hold mainstream of China-ASEAN relations
  9. Asia-Pacific countries should promote free trade
  10. Anelka cannot save Chinese football

What's happening in China

Online shopping gaining popularity

  1. Suspected killer of five apprehended in E. China
  2. TV services reach China's remote rural regions
  3. China launches oil spill response vessels
  4. Storm delays flights in south China
  5. 1st Confucius Institute in N. Ireland opens its doors

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai