The famed Canton Fair - China's largest export expo for five
decades - will include an imports section for the first time this
year in the latest move to curb the country's rising trade
surplus.
The event, which has been renamed the Chinese Import and Export
Commodities Fair, will run from April 15 to 30, with the imports
section scheduled between April 15 and 20.
"The move reflects the Chinese government's intent to promote
imports and achieve a trade balance with other countries,"
Vice-Commerce Minister Gao Hucheng told a press conference in
Beijing yesterday.
China's trade surplus for the first two months of the year more
than tripled to $39.64 billion compared to the same period last
year.
Exports in February were 51.7 percent higher than exports in
January, while imports rose 13.1 percent, less than half the
previous month's growth.
The imports section at the Guangdong fair is expected to attract
some 300 enterprises from 37 countries and regions. Hong Kong,
Taiwan, South Korea, Malaysia and the United States will be the top
five sources.
Exhibitors will showcase items ranging from machinery,
equipment, household electronic appliances and hardware to gifts,
food and farm products.
So far, 6,000 domestic buyers have agreed to attend, according
to the organizers.
"The organizing committee will provide international sellers
with door-to-door logistics support," said Xu Bing, a spokesperson
for the organizing committee.
Besides the import exhibition, the government is also trying to
balance trade by reducing export tax rebates on energy-intensive
and polluting products.
Gao said: "I think the trade balance will improve in the coming
months as measures to encourage imports take effect."
(China Daily March 27, 2007)