A stronger renminbi and high raw material prices discouraged buyers from attending the China Import and Export Fair (or Canton Fair) in Guangzhou this week, the South China Morning Post reported. According to Canton Fair spokesman Liu Jianjun, the event registered 199,266 attendees, down 2.3% from its spring session in April. The show is a key indicator of the mainland’s export economy; Liu blamed the increasing relative value of the renminbi, inflated raw material prices and labor costs for slowing sales at the trade show. He said trade sales had improved but have not yet returned to pre-crisis levels. In addition, a new rule excluding participation by service providers also caused some manufacturers to sit out the event. Chinese purchasing managers’ indexes in October showed unexpected growth in manufacturing activity driven by rising input prices.
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