More than 24,500 firms join Canton Fair

Despite a small decline in participants from the spring session, firms have still flocked to take part in the China Import and Export Fair in an attempt to tap more markets and improve brand image.

The fair is taking place against a backdrop of shrinking Chinese exports in September, signaling reduced global demand for the country's products.

"A total of 24,517 companies are taking part in the fall session, a drop of 229 on the spring session," said Liu Jianjun, spokesman for the event, widely known as the Canton Fair and seen as a barometer of China's foreign trade.

"In the fall session, the number of booths totals 59,539, eight more compared with the spring session," Liu said.

The fair opens on Tuesday in Guangzhou, capital of Guangdong province.

Liu said the drop in participants is mainly because of weakening global economy.

Meanwhile, the organizer of the event, which is held twice a year, is adjusting strategies and trying to help more large companies.

As before, about 80 percent of participants are small firms, while 20 percent are large companies owing branded names, Liu said.

However, as the opening of the fair coincides with the first day of the Muslim Corban Festival, Liu said there will be a decline in buyers from Muslim communities.

Liu predicts a slight increase in buyers from the United States as the US economy slowly recovers, along with more buyers from Japan as China's trade with that country shows signs of increasing.

The fair has decided to release its turnover in yuan (converted?from US dollars) when it ends, to accelerate internationalization of the Chinese currency.