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The 116th Canton Fair Recap

Staff from iAbrasive.com also visited the Canton Fair as interpreters for Zhengzhou Zhongyu Metallic Materials Co., Ltd., an experienced producer of fiberglass backing pads and one-component epoxy resin glue.

From: iAbrasive.comDate: 2014-10-18 09:08:23Views: 470

The 116th Canton Fair

The 116th Canton Fair saw its opening ceremony on Oct. 15, 2014. According to relevant report, this year the exhibition area was 1,180,000 square meters, containing more than 60,000 exhibiting booths. There were approximately 25,000 exhibitors coming from both China and foreign countries. The exhibitors covered various industries, among which the abrasives industry also played a part. Staff from iAbrasive.com also visited the Canton Fair as interpreters for Zhengzhou Zhongyu Metallic Materials Co., Ltd., an experienced producer of fiberglass backing pads and one-component epoxy resin glue.

Canton Fair

According to iAbrasive, Phase 1 featured Electronics & Household Appliances, Lighting Equipment, Machinery, Energy Resources, Building Materials, Vehicles & Spare Parts, Hardware & Tools, Chemical Products, etc. On the first day of the Canton Fair, the passenger flow volume was almost the same as what it was in previous fairs.

Since the beginning of 2014, after experiencing the negative growth in the first quarter, China's foreign trade has witnessed a good momentum of growth. In the third quarter of 2014, China foreign trade total value was ¥7,000,000,000,000, which increased an amazing 7.2% on year-on-year basis. In September, the export increased at a speed of 15.1%, setting a new record in this year. As to the trend in the fourth quarter, we can see from the Canton Fair.

A great many of Chinese exhibitors expressed their concern about the foreign trade exports when faced with the slow global economic recovery and the decline in China's domestic economy. The challenge from international trade protectionism and the fluctuation of labor costs and RMB exchange rate have made it extremely difficult to get orders and product innovation. The only effective solution can be increasing technology and research input, building up independent brand, and developing new products.

Fang Aiqing, the deputy minister of the Ministry of Commerce in China, delivered his point of view towards the current market trend upon his attendance in the 116th Canton Fair. He said that since the beginning of 2014, measures taken by all departments and regions have been effective in improving the business environment of China's foreign trade companies, alleviating the burdens on companies, and arousing the energy of main market players in China. in addition, he revealed that the Ministry of Commerce in China plans to make further efforts to develop methods to promote the stable sustainable development of China's foreign trade. He appealed that under the current situation, China companies shall target transformation and upgrading, improving quality as well as increasing efficiency. What's more, it is especially true that companies should accommodate themselves to the information era and the e-commerce developing trend so as to improve individual competitiveness.

Phase 2 of the Canton Fair is from 23rd to 27th, Oct., major exhibition range may cover Consumer Goods, Home Decorations, and Gifts; Phase 3 is from 31st , Oct to 4th, Nov., during which Office Supplies, Cases & Bags, Recreation Products, Food, Medicines, Medical Devices, Health Products, Textiles & Garments, Shoes, etc. will be exhibited. iAbrasive.com will continue to report the details about our attendance as visitors and other information relatedwith the 116th Canton Fair. The latest news is available at: http://www.iabrasive.com/articles.

Author: Liwei Chu 
Copyright: iAbrasive.com--Abrasives & Diamond Tools Market

 

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