The 111th installment of China's biggest trade fair got underway in Guangzhou on Sunday. More than 10,000 buyers and companies are using the event as a platform for growth in challenging economic times.
So while the rest of the globe is still mired in recession, China's huge potential is drawing in more and more companies hungry for a slice of that market. And that market continues to expand.
Reporter: “Five years ago, this exhibition was still called The China Export Fair. Its rebranding as an import and export fair was more than a symbolic gesture - with China’s rapid economic development, the consumers’ demand for imported merchandises also grew at an amazing speed.”
Some overseas companies have already been in China for many years. They are really enjoying the benefits of their foresight - and see still more to come in the future.
Hermen Van Den Burg, CEO of Watchphone said, "It’s very rapidly changing, amazing, if I look back to 25 years ago when I first came to China, and I have had a company here for nine years. The last couple of years seemed to be changing very very rapidly. We see that Chinese consumer know more and more what they want."
Latecomers are a little more uncertain about how they will fare.
Thijs Fabels, managing director of Ultrasun International B. V said, "I have to wait a little bit while as this is my first exhibition here, so I have to see what the response is."
Despite this changing picture, the imbalance between imports and exports is still there. Compared to 60,000 exporters, only 900 importers are showing their products to Chinese buyers. With the government’s effort to reduce trade surplus, it is a good beginning for companies looking to break into the Chinese market.
The 111th installment of China's biggest trade fair got underway in Guangzhou on Sunday. More than 10,000 buyers and companies are using the event as a platform for growth in challenging economic times.
