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The 97th Chinese Export Commodities Fair opened Friday in Guangzhou, capital of South China's Guangdong Province, announced a spokesperson for the fair.
He said about 170,000 overseas purchasers are expected to attend the fair, with rising price of raw material and textile export bulwark as the focusing issue.
Yu Guangzhou, vice-minister of Commerce, said at the opening ceremony that China has achieved US$1.15 trillion export trade volume in 2004, and has become the world's third largest foreign trade country.
The country needs to consider optimizing its export commodity structure and shifting foreign trade growth model, said Yu.
Saifuddin Hussain, a merchant from India, said he has come for the fair since 2002, to purchase hardware and building materials. He is now most concerned about the rising price of China's hardware.
China has witnessed a 25 percent increase on textile exports in this year's first quarter, due to the abolishment of the global textile quota. Yu noted that China will negotiate with some countries and regions that are questioning China's rapid textile export growth and find a way to solve trade disputes.
Eight multinational purchasers will attend this year's affair, double the number of last year.
The Chinese Export Commodities Fair, also called Guangzhou Trade Fair, was launched in 1957. It served as an important channel for business exchange between China and overseas before and after China shifted to an opening-up policy in the late 1970s.
(Xinhua News Agency April 16, 2005)
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