Domestic suppliers still face great opportunities in China despite the economic slowdown caused by the global financial crisis and emerging markets are bringing new momentum for growth for Chinese suppliers, experts said.
"Buyers never stop sourcing. It's their sourcing behavior that changes. China offers great opportunity for both buyers and suppliers as the government's 4-trillion-yuan (US$586 billion) stimulus package gives China's retail sales a boost," an official from Global Sources Ltd, a leading business-to-business media company, said at a pre-show press conference at the China Sourcing Fair.
The Nasdaq-listed company carried out a survey in mid-October after the financial crisis broke to discover what changes there might be in buying behavior next year.
It found 69 percent of the international buyers surveyed were willing to source from China next year while around 30 percent will increase their China sourcing. Buyers in traditional markets tend to place small quantity orders with short-term deliveries but prepared companies can respond to the markets more swiftly, the survey showed.
Philip Cheng, chairman of Serico Design Ltd, said his company has increased productivity and made innovative products throughout the difficulties caused by the crisis and has been surprised to see its overseas orders remain stable.
According to China Customs, emerging markets have performed outstandingly with China's exports to Brazil surging 90.2 percent to US$14.9 billion and exports to India soaring 43.1 percent to US$43.1 billion, in sharp contrast with an 11.2 percent growth of exports to the US.
China Sourcing Fair: Fashion Accessories and Baby & Children's Products will run from today through Friday. Products range from jewelry, handbags and costumes to games.
The show features 470 suppliers from China while global brands Ahlens, C&A, Marks & Spencer, and Pacific Brands are also scheduled to participate in the event.
(Shanghai Daily December 3, 2008)
