Shanghai CMP Sinoexpo International Exhibition Co., Ltd., the organizers of Furniture China (China International Furniture Expo), announced that due to the global financial crisis, many Chinese furniture enterprises have experienced declines in their sales & profits. The wooden furniture industry has been especially hard hit hard by the declining exports.
China’s furniture industry has now entered a period of strategic reform, which requires restructuring and industrial upgrade. Thus, a process of diversification has started to re-shape the industry.
The subprime mortgage loan crisis has created an urgency for Chinese furniture manufacturers to improve production efficiency, especially in regional areas that have lagged behind.
According to the report of China National Furniture Association, the general status of China’s furniture industry in 2008 was comparatively good with furniture exports reaching US$27.583 billion, up 22% compared with the same period in 2007. Imports were US$1.222 billion, an increase of 10.7%.
The Chinese central government has recently carried out a series of policies to encourage housing and infrastructure developments, not limited to loosening regulations for tax policy, loan policy for small-and-medium-sized enterprises. These measures a designed to motivate national consumption in order to alleviate the impact of the global crisis.
About Furniture China: From 9-12 September 2009, Furniture China 2009 will be held at Shanghai New International Expo Centre.
European manufacturers and companies from Asia will have a stronger presence at the event this year. The French Furniture Export Association (GEM) will be present Furniture China 2009 with an even bigger French pavilion. Italian companies will be present to showcase the importance of Italian furniture to the Chinese furniture market. Another new highlight this year will be the Vietnam Pavilion, present for first time to display both contemporary and traditional furniture.
Germany, France, UK, Italy, Belgium, Netherlands, Vietnam, Malaysia, Singapore, Thailand, Indonesia and India have all confirmed their attendance and will display their newest products onsite.
The 15th China International Furniture Expo co-located with The 15th China National Furniture Expo & The Autumn Domestic Sourcing Fair
To satisfy the increasing demands for China’s domestic furniture market in future years, the organizers of Furniture China 2009 will jointly organize the 15th China National Furniture Expo & The Autumn Domestic Sourcing Fair with Redstar Macalline at Shanghai Redstar Macalline Global Furnishing Trade Center.
Such joint organization will not only solve the problem of serious shortage of the exhibition space of Furniture China but also attract the retailers of Redstar Macalline to the annual furniture expo every September in Shanghai so as to satisfy the most exhibitors’ demands of expanding the Chinese market.
For further information, contact: Shanghai CMP Sinoexpo International Exhibition Co., Ltd. yolandaxu@cmpsinoexpo.com