| Canton Fair opens 101st session, seeking trade balance |
|
| Monday,April 16,2007 Posted: 15:43 BJT(0743 GMT) chinaview |
GUANGZHOU, April 15 (Xinhua) -- China's largest trade exhibition, the 101st session of the Canton fair, which for the first time features imported commodities, opened in south China's Guangdong Province on Sunday.
The massive trade exhibition, known for the past 50 years as the Chinese Export Commodities Fair, has added the word import to its name and is now formally known as the Chinese Import and Export Commodities Fair.
The fair came about one month after Chinese Premier Wen Jiabao pledged in his government work report made in early March that China will continue adjusting its foreign trade structure and actively promote imports.
The import section this year features the products of 314 foreign companies from 36 countries and regions. They're offering a wide range of products from machinery, automobiles, IT products, household electric appliances, building materials, jewelry and food and agricultural products.
At least 6,000 Chinese corporate buyers have been invited to the fair, which runs from April 15 to April 30.
"By adding booths for foreign commodities, the Fair will transform itself from an exclusive occasion for exports to a platform for promoting both imports and exports," said Gao Hucheng, vice minister of Commerce, at the fair.
Gao said China encourages imports of advanced technology and energy-saving equipment and technology. It also encourages competent foreign enterprises to participate in the imports of major facilities and equipment in China, and welcomes competitive foreign firms and products to enter the Chinese market.
Lam Tin-fuk, executive director of the Hong Kong Trade Development Council, said he has led 40 Hong Kong firms to attend the fair, adding "Introduction of the import section shows that China's foreign trade has shifted from mere export to balanced development of both import and export.
"Having face to face conversation with potential Chinese buyers helps me understand what they want, which is very useful for our products to enter the Chinese market," said Paul Kidwell, general manager of the UK Bathroom Corporation Ltd.
At the fair, cars by Volkswagen, Audi, Ferrari and other trendy foreign cars took center stage in the 10,000-square-kilometer exhibition hall, drawing large crowds of visitors.
Along the exhibits of the world's largest corporations are displays of silverware and garments from Nepal and arts and crafts from Mali, India and Haiti.
Sebastian Kopulande, chairperson of the Zambia-China Business Association, says the fair "is an opportunity for Zambian manufacturers to expand their business", adding that 37 companies from his country are attending.
Chinese exporters still dominate the fair with 14,430 exhibitors participating, 429 more than in the last fair.
Last year, more than 190,000 buyers from around the world signed deals worth 34 billion U.S. dollars, said Xu Bing, deputy secretary general of the fair.
The fair, which is also known as the Canton Fair, is a biannual event that has been held in the spring and autumn since 1957.
By introducing imports to the fair, China aims to increase products sold to the country and lower its trade surplus, said Xu.
|
Bilateral Visits