Despite a rebound in contracts signed at the world famous Canton Fair, which finished on May 5, Chinese exporters remain cautious about the global trade outlook.
The 107th China Import and Export Fair, or the Canton Fair, saw the value of export contracts rise 12.6% from its autumn session last year to $34.3 billion (NZ$6.9 billion), according to ChinaDaily.com, quoting Chen Chaoren, a spokesman for the Fair.
But the figure is still 10.3% lower than the corresponding session in 2008, the report says. Trade resulting from the Fair contributes significantly to China’s overall trade volume.
“The rebound (in the Fair contracts) will help consolidate China’s recovery in foreign trade, but uncertainties still remain,” Chen was quoted as saying.
Exporters were still taking cautious steps. Short-term contracts signed at the Fair were up, to 53%, according to Chen who said that Chinese exporters remained worried about complicated trade conditions, such as the unstable global economic recovery, rising trade protectionism and higher production costs.
The recent session of the Fair attracted 203,996 overseas buyers from 212 countries and regions around the world, down 1.3% from its spring session in 2007.
As the world’s largest exporter, China’s exports grew by 24.3% in March year on year to $112.11 billion, while imports jumped 66% to $119.35 billion, leaving a $7.24 billion deficit, the first one since May 2004.
