China’s exporters optimistic as foreign buyers flock to see products at Canton Fair in Guangzhou
- Participants, organisers report increased booth count and attendance for major trade fair, which opened on Sunday
- Purchasers drawn to competitive prices and favourable exchange rates as they seek to restock inventory
Chinese exporters are hopeful for an influx of clients – and a concurrent increase in orders – as a major trade fair commences and the world’s second-largest economy slowly rebounds after a period of relative lethargy.
At the Canton Fair, which opened on Sunday in the southern Chinese city of Guangzhou, participants said foreign buyers are far more motivated.
“[A weak] yuan has made Chinese products much more attractive,” said Lam Sing-tin, a Hong Kong-based trader for the Australian market looking for new-energy storage products.
“Other geopolitical factors are slightly more relaxed than in the past, especially in the new energy sectors.”
Jacob Thiessen, a buyer from Mexico on his first trip to the fair since the Covid-19 pandemic, said he would probably purchase more than he had originally planned.
He found the quality and price of many products had not changed much, even compared with the pre-epidemic period.
“The depreciation of the yuan against the greenback also has made Chinese products more attractive,” he said.