Good going for Shanghai firms

Shanghai enterprises participating in the 101st session of the Canton Fair(2007 China Canton Fair) have achieved considerable success at the event, thanks to a series of active measures they took to cope with the negative infl uence of factors such as the renminbi's appreciation, the downgrading of export tax rebate rate and increased labor costs.

One of the success stories concerns Shanghai-based Sanxin International, which launched its new 3SB71 circuit breaker at this year's fair. Developed in February and applicable to various types of buildings,this small new model was aimed at high-end customers and attracted the attention of dozens of clients from Europe and South America. Sanxin International signed contracts worth about $2 million in just the first two days of the fair, which represents an increase of more than 20 percent in contract value from last year.

Shanghai Toy Import and Export Ltd also created new breakthroughs at this session of Canton Fair. It established a partnership with a children's cart factory in Pinghu in Zhejiang Province, developed new products tailored for the overseas market and used all available channels to push sales. Due to proper production and sales activity, the company has recently seen an increase in its number of clients and orders, holding fruitful negotiations with more than 30 foreign clients at the ongoing China Import and Export Fair - the official name for the Canton Fair.

Shanghai Wanxiang Daily Cosmetics Ltd followed the market trend by increasing investments in advanced technology and equipment, which in turn helped the company achieve good results in the two recent sessions of the Canton Fair. The fi rm reaped over $30 million from deals struck in the fairs and in the subsequent period.