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China holding up well in sourcing plans
(Agencies)
Updated: 2009-02-19 17:11

Many international buyers expect to source more goods from China this year even as they plan to cut overall spending on imports, according to a survey released on Thursday.

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Global Sources, which matches buyers and sellers of Chinese goods, said 54 percent of respondents to its annual importer survey are budgeting on spending less on imports in 2009; however, 40 percent plan to buy more from China, with another 17 percent expecting no change.

"That tells you that China remains centre stage as the main supply base for these buyers," Craig Pepples, the chief operating officer of Global Sources, said in a telephone interview.

Global Sources received survey responses from 129 companies that import more than $1 million of goods.

A companion survey showed Chinese suppliers in an optimistic mood, with 36 percent of 202 export-focused companies and 57 percent of 191 domestically-orientated firms expecting double-digit sales growth this year.

"Are the orders coming back? I'm hearing from suppliers that yes, they are," Pepples said from Hong Kong.

"They're not as large often in terms of volume, but it seems like some of the inventory levels are down low enough that they need to be replaced. That is encouraging, but we're not seeing the light at the end of the tunnel yet," he said.


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