Canton Fair Textile Orders Reduced By 20%

Faced with the rising Renminbi exchange rate, the difficulties of mainland export enterprises are gradually emerging. The China Import and Export Fair (Canton Fair), which is regarded as the index of China's export situation, is facing a cold front this year. The turnover of the first day of the Guangdong regiment has been reduced by nearly 5. Insiders pointed out that the order of textile enterprises also decreased by 20%, exhibitors repeatedly complained. "Business is too difficult this year". Most textile exhibitors feel this way at this Canton Fair. It is understood that the two day since the opening of the Canton Fair, buyers from Europe and the United States have significantly reduced, and textile and garment, footwear, toys and other enterprises are facing the problem of declining turnover, of which the export situation of textile enterprises is most obvious. Europe and the United States less than Guangdong first day transaction reduced by 5% of textile exhibitors said that the usual European and American businessmen, now can not see, only goods in Africa or the Middle East merchants, only a few guests in the morning, only the United States orders, has dropped to less than 20%. As a matter of fact, this year's cold export situation of the Canton Fair began to appear on the first day of the opening. As the highest volume of turnover in the previous transaction, the turnover on the first day of this year was only about 290 million dollars, down nearly 5 from the turnover of 420 million dollars on the first day, reflecting the serious situation of Guangdong's indifference. The problem of cold exports is more than just happening at the Canton Fair. The seventh China Dongguan international shoes exhibition, which opened in Dongguan the day before yesterday, is also quite cold compared with the past. Almost all the export orders for participating enterprises are sharply decreasing, and the US orders have been cut by half. Although the outside world blamed the export predicament on the subprime mortgage crisis in the US, export companies believe that the most profound impact is the appreciation of the renminbi. Due to the rapid growth of production costs and the acceleration of RMB appreciation, the export enterprises should make up for the loss of profits by increasing the price, resulting in bargaining between buyers and sellers, causing the transaction to be in a stalemate. Many exhibitors at the Canton fair said that the increase in the RMB exchange rate against the US dollar, at least reduced their trading volume by 10%, because the dollar depreciated, exhibitors had to raise their quotations to 10% to 20%, but at the same time, the volume of exports decreased by 20%. "If we do not raise the quoted price, we will lose money, raise the quoted price, and reduce the turnover. It's hard for us. " Exhibitors so described. A bedding company in the United States says that every year, the company purchases the bedding products at the Canton Fair, but this year's procurement is more difficult. On the one hand, the US consumer market is seriously shrinking. On the other hand, Chinese exporters have to raise their prices. Therefore, he only asked the price of other exporters and decided to make a decision in a few days.