China’s export orders fell 19% at the opening session of the nation’s biggest trade fair from the same period in 2008, before the global financial crisis deepened, according to an online report by Bloomberg.
The report, which cited information from China’s Commerce Ministry says orders at the Canton Fair in Guangzhou totalled US$17.1 billion (NZ$24 billion) from April 15 to 19.
While the ministry didn’t give a comparison with a year earlier, a previously published figure of $13.03 billion for the same period in 2009 indicates a 31% increase.
The report says: “Enterprises generally reported that foreign trade is still facing many unstable and uncertain factors and they took a cautiously positive outlook.”
The value of orders rose 9.8% from the same period of last year’s autumn fair. The trade show is held twice a year.
