Number of US buyers at Canton Fair increases 7.85 percent year-on-year, despite trade tensions

Source:Global Times Published: 2018/5/6 14:13:39

The 123rd session of China Import and Export Fair, widely known as the Canton Fair, has seen the number of buyers soared 5.3 percent year-on-year, which was 5-year record high.

The Canton Fair, largest and most important trade fair in China that was held in Guangzhou, South China's Guangdong Province. As of Thursday, it recorded transaction volume of 189.2 billion yuan ($30.1 billion), up 3.1 percent year-on-year, according to a statement the fair sent to the Global Times on Sunday.

In spite of the escalation of trade disputes between China and the US, the number of US buyers increased 7.85 percent year-on-year, to 11,929, the statement noted. Still, some of them held reluctant attitude toward making deals. The transaction in some sectors including home appliances, shoes and garments also dropped. 

Many US buyers hope that trade disputes will cause a "lose-lose" situation for both countries, which also hurt global supply chain and eventually damage interests of US consumers.

Machinery equipment was ranked as the top among traded products at the fair, according to the statement. The total transaction volume of above mentioned products reached $15.89 billion, accounted for 52.8 percent of the total transactions.

Meanwhile, buyers from countries and regions along the routes of Belt and Road initiative showed much strong intention of making deals.

Posted in: ECONOMY

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