Chinese reluctantly turn to emerging markets

Shanghai (CNS) – A number of Chinese businessmen have expressed their intention to concentrate more energy on the pursuit of emerging markets, including Brazil, India and Australia, in light of the current gloomy business opportunities in Europe and the US.

The 22nd East China Fair, scheduled from March 1 to 5 in Shanghai, attracted nearly 3,500 enterprises from China, Japan, Thailand and other countries and regions. People from foreign trade enterprises expressed largely convergent views on the current market situation.

Chen Jian, a sales manager from a Zhejiang printing company, said their company's orders with European companies for the entire year equals only the monthly figures of the same kind in the past. They have started to pay more attention to Brazil and other South American markets since the second half of last year.

Lin Fangming, a salesman for a clothing company in Fujiang Province, said they have seen a sharp decline in orders with their European and US partners. Despite adjusting their business to cope with the situation, Lin worries doing business with companies from emerging markets will offer much lower profit margins than their old partners did.

Yan Feng, general manager for a textile import and export company of Jiangsu Province, cautioned that emerging markets promise profits accompanied with high risks, and he hopes his company can maintain their participation in the European and US markets.