China-US transactions drop sharply during major trade event

Transactions between Chinese exporters and buyers from the United States during China’s largest trade event dropped sharply, mainly due to the trade conflicts between the two economic powers.

“The ongoing trade conflicts posed impacts on US buyers, bringing uncertainties to the international trade market,” said Xu Bing, spokesman of the China Import and Export Fair.

The twice-a-year China Import and Export Fair, widely known as the Canton Fair, concluded on Sunday in Guangzhou, the capital of South China's Guangdong province.

According to Xu, transactions between China and the US during the fair dropped 30.3 percent, compared with the spring session last year.

“The number of buyers from the United States also dropped slightly,” Xu said.

However, deals between China and countries and regions related to the Belt and Road Initiative increased to $9.63 billion, according to Xu.

“Buyers from these countries and regions present at the fair have been looking for new products from Chinese manufacturers, which would help them explore the international market,” Xu said.