Visitors walk outside the venue of the China Import and Export Fair, also known as Canton Fair, in Guangzhou, Guangdong province, China April 16 2023. Picture: ELLEN ZHANG/REUTERS
The first big trade event since China abruptly dropped Covid-19 restrictions and reopened its borders comes as sharply higher borrowing costs in the US and Europe hit demand for Chinese-made goods. “This year will be the hardest for us,” he said, with higher electricity costs caused by the war in Ukraine reducing demand for his decorations even further.
A producer of shaving devices from the eastern city of Ningbo, who asked to remain anonymous to unveil future plans, said the firm has already laid off workers and will lower prices in coming months if orders do not improve.
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