Canton Fair sees Textile & Garment Deals Rise to US$ 0.976 Billion
Source: ccct Date: 2007-04-24
The 101st session of the Chinese Export Commodities Fair (CECF), also known as the Canton Fair, opened in south China’s Guangdong Province on Apr. 15 with an estimated 0.967 billion U.S. dollars in textile and garment deals before the opening ceremony, 3.7% up from last session, and 21.2 percent up from last year’s spring session, accounting for 21% of the total contract value.
Sponsored by the Ministry of Commerce of China and People’s Government of Guangdong Province, and organized by China Foreign Trade Centre, Canton Fair is held twice a year in Spring and Autumn since it was inaugurated in the Spring of 1957. It is China’s largest trade fair of the highest level, of the most complete varieties and of the largest attendance and business turnover. Last year, more than 190,000 buyers from around the world signed deals worth 34 billion U.S. dollars, said Xu Bing, deputy secretary general of the fair.
The exhibition pattern remains as in two phases and at two complexes. The 12-day fair is divided into two phases, the first from April 15th to 20th, 2007, and the second from April 25th to 30th.
Deals on textile were 7.5 percent up from last session, and 52 percent up from last year’s spring session. Deals on garment were 0.8 percent up from last session, and 4.2 percent up from last year’s spring session. Knitting garments sees rise 7.9% while woven garments and accessories have been decreased.
EU and American buyers struck the largest sum of deals at 0.51 billion U.S. dollars, followed by buyers from Middle East, Japan and China Hongkong. The volume of contracts from US has climbed 34 percent while the number from EU has decreased 4.6 percent. Deals from East Asia, Australia and Russia rose 11%, 74% and 47% respectively, the fastest pace in this session.
Private businesses contributed to 28 percent of the total contract value. Deals from state-owned enterprises accounted for 37 percent of the total and those from foreign-funded firms and manufacturer contributed to 43% and 43% respectively.
Besides, The Canton Fair has always attached great importance to the protection of IPR. In the 85th session in 1999, it set up the Complaint Reception Station of IPR Protection to receive complaints concerning IPR infringement. A set of complete IPR protection system, applicable to the actual situations of fair, is established after years of practice.
