The 114th China Import and Export Fair closed on November 4

The 114th China Import and Export Fair closed on November 4 with RMB 19.46 billion of export turnover, according to the organizer. 

It was the first time the figure was announced in RMB since the historical trade fair debuted in 1957. The turnover declined by 10.9 percent compared with the last session in spring, and 3 percent compared with last autumn Canton Fair, announced Liu Jianjun, spokesman of Canton Fair. 

Among the major trade partners of China – the European Union, the United States, Japan, BRICS and the ASEAN countries, the deals that buyers from the United States made in this session were the only ones to have increased, by over 11 percent compared with last autumn's session. The total export turnover of the buyers from BRICS countries, which had always been rising, saw an obvious decrease this time, 12 percent compared with last autumn and 17 compared with this spring. "The export has not yet fundamentally recovered [from recession]," Liu said. 

These cold days of export were also reflected in the decreased number of buyers. For many years the number has kept above 200,000, but it went down to less than 190,000 in this session. However, statistics shows that there was an obvious increase of frequent buyers having attended 10 – 15 times. Liu attributed it to the efforts of the organizer in maintaining the buyer number and attracting stronger buyers. 

Official statistics reveals that only the number of European buyers saw a rise, by 6.76 percent, compared with last session. 

Many exhibitors were happy to see the organizer release the turnover in RMB, hoping that they could use RMB to make deals in the future. Mr. Zhong, manager of a bag manufacturer in Guangzhou, said the fluctuation of exchange rate would influence the company’s profit, using RMB could allow exporters like him to reduce the risk easier.