Trade volume at East China Fair hits US$2.3b
The accumulative trade volume at the just-concluded 29th East China Fair in Shanghai stood at US$2.3 billion — the same as last year — with Japan, South Korea and the US the top three countries in terms of trade size.
The total number of overseas buyers and business visitors at the fair edged up 2 percent from a year ago to 22,757 people. Organizers said that there were visitors from 111 countries and regions.
The fair had attracted nearly 4,000 exhibitors, including 452 from overseas companies.
Thirty companies were awarded the innovative prize for exhibiting new products at the fair. Four matchmaking sessions were also held to connect 139 buyers and 287 exhibitors.
Clotheshorse that automatically adjusts the height, and bathroom mattress that can absorb moisture and keep rooms dry, were among the new products displayed by Chinese manufacturers. The total exhibition space was 126,500 square meters, an increase of 2,900 square meters from last year.
Cross-border e-commerce sites were also active participants at the fair as an increasing number of exporters look for purchasers through online channels.
“The exhibition plays an important role for exporters to secure overseas orders and we’ve been pushing for an upgrade in the quality of export merchandise while boosting trade volume with Belt and Road countries,” Deputy Director of the Commerce Department of Jiangxi Province Fang Xiangjun said.
Officials and exporters were upbeat about the trade outlook.
“Textile companies are reacting to new market trends to develop industrial cluster and to expedite overseas expansion as well as the adoption of a smart manufacturing process in the face of rising costs,” said Cao Jiachang, chairman of China Chamber of Commerce for Import and Export of Textile and Apparel.
“Export trade will see new opportunities under the newly announced development plan to seek integrated development of the Yangtze River Delta region and a new round of opening-up efforts is also underway,” Deputy Director Shen Weihua of the Shanghai Commerce Commission told the Import and Export Forum at the fair.
Katherine Zhu, manager of the No.8 Import and Export Department at Shanghai Dragon Corporation, an affiliate of Shangtex Holding Corp, said its Ethiopian sweater factory started operation in mid-2018. It now produces about 100,000 pieces of apparels and garments with the production cost about 20 percent less than those made in southeast Asian countries.
“Overseas garment retailers have seen flat sales performance over the past year and have been demanding a lower procurement price. Having a manufacturing presence in Africa has helped lower our production cost,” she told Shanghai Daily.
The local downstream and upstream industry chain still need two or three more years to grow, she said, adding the garments will be exported to buyers in Europe and the US. It is also the first African manufacturing site for a Shanghai-headquartered company as the textile and apparel company is actively responding to the Belt and Road Initiative.
