This year's Canton Trade Fair, which opened on Sunday (15 October) has notable differences from the forty-three that preceded it.
This year's Canton Trade Fair, which opened on Sunday (15 October) has notable differences from the forty-three that preceded it. The fair contains a wide range of goods the Chinese have not put on view before. And the Chinese are pushing sales more vigorously because they are eager to boost their foreign currency earnings.
SYNOPSIS: The New China news agency spelled out what it called a 'significant change'...to sell what the buyers want, instead of simply what is produced and not needed. The fair, the agency said, would increase the business of processing for foreign customers who supply designs, raw materials, or parts. In the past, the fair has been primarily a show-window, with no strong sales pitch directed at the trickle of visiting buyers.
This year, hundreds of foreign businessmen were expected for the month-long fair, some on the new Hong Kong air charter planes, and others on the Hong Kong-Canton hovercraft ferry, which starts next month. The Chinese want to clinch some of the business these buyers formerly placed in the more interesting markets of Hong Kong and Taipei.
The London Financial Times sees the changed emphasis as a recent projection of China's recent and sudden acknowledgement that it must, however reluctantly, join the sellers and profit-makers of the twentieth-century. Chinese industry has been urged to improve the quality and range of consumer goods, mainly on export products. The revenues would go towards building cash reserves to buy imports for development schemes.