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Grim faces of exhibitors at Canton fair
06
May '09
The first two phases of the current Canton Fair have concluded and they together received 135,000 overseas buyers in total, down 4.2 percent with total turnover amounting to US $20.1 billion, down 18.8 percent.

The third phase of the Canton fair will begin from May 3 and will be mainly exhibiting five types of goods, such as textiles, apparel, footwear, luggage and other special product categories. The third phase will have 17 display areas.

In March, China's clothing exports rose 9.9 percent year-on-year, which has been regarded as a warming-up signal by the industry. However, news from the current 105th Canton Fair shows that the situation has not improved significantly.

According to Mr.Cai Gaosheng, Chairman of Silk & Textile Group Co., Ltd. of Guangdong Province, China has increased textile and garment export tax rebate from 11 percent to 16 percent for several times since August last year.

This has helped export enterprises to garner some decent profits, but in order to stabilize orders and customers; profits are more or so lost due to the low prices quoted by buyers.

Fibre2fashion News Desk - China

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