Gansu province signs contracts worth $157m at Canton Fair

Updated: 2015-05-07
( chinadaily.com.cn )

A delegation from Northwest China's Gansu province inked $156.82 million worth of agreements at the 117th China Import and Export Fair (Canton Fair). Compared to the last fair, this year's deals saw an increase of 2.17 percent, according to the Gansu Commerce Department.

Gansu's trade volume increased in commodities such as electromechanical equipment, light industrial products, medicine and health and agricultural products.

During the fair, the delegation from Gansu - which consisted of representatives from 78 enterprises - communicated with more than 170 exhibitors from countries sitting along the Silk Road Economic Belt and 21st Century Marine Silk Road, such as Iran, Malaysia, Saudi Arabia and Russia.

Located on the Silk Road, an ancient trade road linking central China and Western Asia, Gansu province tried to put its geographical location advantage and favorable policies into play to expand foreign trade and cooperation.

As a result, it realized $64 million worth of contracts between those countries, 14 percent more than the 116th Canton Fair. The trade and cooperation fields covered hydropower equipment, traditional Chinese medicine and cutting tools. Gansu exhibitors drew a great amount of attention at the fair, held in Guangzhou of Guangdong province in May for their innovative and competitive products.

For example, Lanzhou Foci Pharmaceutical Co, a manufacturer and distributor of traditional Chinese medicine and western medicine in Gansu's Lanzhou city, promoted a series of health products such as donkey-hide gelatin which appealed to many new and regular customers.

In addition, lily products such as quick-frozen lily and lily tea produced by Gansu Hutai Tianrun Trade Co received over $3 million worth of export orders at the fair. And Lanzhou Zhongbang Wire & Cable Group Co, who manufactures wire and cable, signed $500,000 worth of export orders at its first Canton Fair.

Edited by Jacob Hooson