China’s biggest and best-known event for international buyers, the recently concluded Canton Trade Fair, saw a 17.5 per cent drop in orders since the last fair in spring – the first such decline since the 2003 SARS outbreak.
Total contracts signed at the fair amounted to US$31bn, down 16 per cent on last year’s autumn Canton Trade Fair, reported the Morning Star.
A survey at the fair showed many international buyers were worried about the bleak economic outlook. Many had cancelled orders, or were only buying for the short term.
The propensity for short-term purchases, most of them for the coming spring season, mean Chinese exporters face uncertain times in the latter half of the year.
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