The China Import and Export Fair, held in Guangzhou has just finished, with a slight decrease in forward orders compared with the last event. Popularly known as the Canton Fair, it generated 179.2 billion yuan ($29.30 billion) in export orders, organizers said in a statement last Tuesday, the final day of the event. That’s 8.6 percent less than last fall’s fair after accounting for currency fluctuations.
The twice-yearly event is China’s biggest trade exhibition and is seen as a forward indicator of demand for the country’s exports.
The importance of the Canton Fair has declined as the world’s second-largest economy seeks to shift away from exports and manufacturing toward domestic consumption and services.