The number of buyers and transactions at the 116th Canton Fair, which closed on November 4, both dropped month-on-month, further highlighting the challenges currently faced by China’s exports.
There were 186,104 buyers attending this session of the Canton Fair, from 211 countries and regions, a decrease of 1.07% compared with the 115th session; the total transaction volume was 179.203 billion yuan, a decrease of 6.1% compared with the same period of the 115th session. Among them, export transactions to major trading partners such as the EU, the United States, BRICS countries, the Middle East, and Japan have all declined, ranging from 4% to 19%. Only ASEAN and South Korea have experienced an increase.
For the third consecutive Canton Fair, both the transaction volume and the number of buyers continued to decline within a narrow range. “The recovery of traditional markets is weak and demand in emerging markets is weak. The situation is not optimistic.” Canton Fair spokesman Liu Jianjun said.
At this Canton Fair, 51,292 regular buyers attended the fair more than 10 times, a month-on-month decrease of 0.36%; 33,292 buyers attended the fair more than 15 times, a month-on-month increase of 2%. “The overall increase in old buyers shows that buyers still fully recognize the effectiveness of the Canton Fair platform.” Liu Jianjun said. “Foreign trade has entered a new normal, shifting from high-speed growth to medium-to-high-speed growth.” Liu Jianjun said that the current complex global economic situation has caused my country’s foreign trade to face severe tests. At the same time, the Canton Fair has gradually transformed from a trading platform into a platform for display and information exchange. Orders will be placed on the spot less often, and more will be continued in depth after going back. The order volume will not be reflected until a few months later. “Under the new normal, companies pay more attention to cultivating new advantages. In the past, simply competing on price is no longer enough. Companies must rely on brand, technology, quality, and service to compete with their opponents.”
The Canton Fair, held twice a year, is regarded as the “barometer” and “wind vane” of my country’s foreign trade situation. Market participants believe that although the “double decline” trend is rare, it is not surprising to see it appear now. From the perspective of the international market, continued weak demand, turmoil in some regions, and major epidemics affecting the flow of trade personnel are all objective reasons for this situation.
