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East China Fair shows sluggish trade growth prospects

Xinhua, March 6, 2015 Adjust font size:

Exhibitor numbers and export turnover for a major trade fair in Shanghai declined, indicating gloomy trade growth prospects for China this year, according to data from the East China Fair.

The annual trade fair, which concluded Thursday, received 21,200 overseas visitors, down 1.1 percent year on year. Export deals totaled 2.566 billion U.S. dollars, down 7 percent year on year, according to the fair's organizer.

Japanese customers were still the main force of the five-day fair, accounting for 42 percent of total foreign visitors. However, export deals with Japanese clients dropped significantly due to rapid depreciation of the Japanese yen, which contributed to declining export turnover at the fair.

In contrast, export deals with European, Oceanian and African clients at the fair recorded remarkable growth of 12 percent, 79 percent and 21 percent respectively.

China aims to increase its imports and exports by around 6 percent this year, the lowest target since China joined the WTO in 2001, according to a government work report delivered by Premier Li Keqiang at the parliament's annual session on Thursday.

China's foreign trade increased by only 3.4 percent in 2014, significantly lower than the 7.6-percent rise in 2013 and the 7.5-percent target. Endi