Fall edition of Guangzhou Fair generates business totaling US$21.9 billion

24 October 2006

Guangzhou, China 24 Oct – The first phase of the 100th Guangzhou Fair, which was held between October 15 and 20, generated business worth US$21.9 billion, or 5.8 percent more than last year’s fair and 15.6 percent more than in the session in October last year, officials said.

Transactions for machinery and electronic products totaled US$12.99 billion, accounting for 58.5 percent of the total.

The remaining sectors also saw increases in sales, with footwear sales rising by 3.5 percent as compared with the Spring fair and 15.2 percent against the previous Fall fair.

The European Union, the Middle East and the United States were the biggest buyers with sales of US$6.91 billion, US$3.04 billion and US$2.94 billion, respectively.

Companies from Guangdong, Zheijiang and Jiangsu provinces sold goods totaling US$5.71 billion, US$3.33 billion and US$2.46 billion, respectively.

The second stage of this edition of the Guangzhou fair will be held between October 25 and 30.

The Guangzhou Fair has two editions per year – Spring and Fall –and each is split into two six-day stages, separated by a five-day period.

The Chinese Product Export Fair, better known as the Guangzhou Fair, will change its name in time for its Spring edition to Chinese Product Import and Export Fair, officials have said.

The change in name of Chinese oldest trade fair, according to prime minister Wen Jiabao, aims to reflect the efforts made to achieve balanced trade with China’s trading partners. (macauhub)