With Chinese manufacturers flocking to overseas trade fairs to shore up export orders after three years of isolation, markets in developed economies remained their top priority, according to a recent survey conducted by China Trade News – the official newspaper of the China Council for the Promotion of International Trade (CCPIT). The survey was based on interviews with just over 10,000 Chinese companies that attended 190 overseas trade fairs and expos in 38 countries and regions during the year’s first quarter. It showed that 70% of the chosen events took place in five developed countries: Germany, the United States, Japan, Italy and France. In particular, around one-third of exporters went to Germany and another third went to the U.S.
The most popular trade show among Chinese exporters in the first quarter was January’s International Consumer Electronics Show (CES) in Las Vegas. Premier Li Qiang said that China would use all means to stabilize exports to developed economies, while also guiding enterprises to further explore developing countries and regions. China recorded robust export growth in March, up by 14.8% from a year earlier. The strong data, however, was contrasted by alternative economic indicators such as falling shipping rates. Lu Daliang, Spokesman for the General Administration of Customs, warned that China’s trade outlook would remain under pressure due to a “severe and complex” external environment. Aside from developed countries, other hot destinations were the economies of the Belt and Road Initiative (BRI), attracting 27.56% of the survey’s respondents. Companies from China’s major export hubs – Zhejiang, Guangdong and Jiangsu – are the predominant participants in those overseas events, accounting for 35.62% of all Chinese firms, it said.
In an effort to make up for three years of isolation that saw export orders dwindle and foreign investment decline, local governments across China have been organizing overseas trips for manufacturers and exporters since late last year, subsidizing their flights and hotel expenses while ensuring hassle-free visa applications. More than 200 officially organized overseas business trips for Chinese exporters to attend trade fairs have been scheduled for this year, according to the CCPIT, the South China Morning Post reports.
