Canton Fair: The impact of the global economic slowdown is clear!

Canton Fair (May 1)
Source: China News Service

Canton Fair: The impact of the global economic slowdown is clear!

-Fourth year of holding, largest trade business meeting struggles-

Canton Fair: ‘Fourth year’

The Canton Fair before COVID-19 was a thriving success with buyers from all over the world gathering.

Canton Fair held face-to-face for the first time in four years (trade business meeting)

The number of buyers has decreased noticeably and it has become a lonely scene.

The contract value during the period was only 25.1 billion dollars (about 3.38 trillion yen).

The contract value during the period will be only 25.1 billion dollars (about 3.38 trillion yen).

That was well below the peak of $38 billion in 2008 and $30 billion in 2019 before the pandemic.

Western buyers

Western buyers were few.

Walmart, Costco, Wholesale, etc.

Mirando Houseware, a company that manufactures mats mainly for customers in the United States and Europe, had almost no customers visiting its booth.

The world view of Jura Katsumata

Bloomberg (May 8th)

We published an article titled “China’s Trade Business Talks Clearly Impacted by Global Economic Slowdown – Struggling to Attract Buyers”.

The Canton Fair, China’s largest trade fair, will be held on April 15th.

It was forced to be held almost online for three years.

Opening in person, it was supposed to be a triumphant return for China, the world’s number one manufacturing powerhouse.

However, due to the slowdown of the global economy, the number of buyers from the United States is also small.

The atmosphere at the venue lacked excitement.

ーThere is a youtube videoー