Canton Fair Records Drop in Number of Exhibitors
October 21, 2013
The largest trade fair in China, the 114th China Import and Export Fair (Canton Fair), opened on 15th October at the China Import and Export Fair Complex in Guangzhou this year.
The Canton Fair is held twice each year, and according to media reports, this is the first year since the global financial crisis to record a drop in exhibitor numbers at both editions. The drop is attributed to a subdued global economy and weaker currencies in emerging marketsversus the yuan. A total of 24,517 exhibitors attended the autumn edition of Canton Fair – down 229 and the largest decrease since the drop of 237 exhibitors was recorded during the global financial crisis in 2009. The Canton Fair organiser also estimates a 10% drop in overseas buyers to 188,145.
China’s exports alsofell 0.3% year-on-year in September after rebounding in July and August. Additionally, exports to Southeast Asia fell to a 17-month low. Surveyed Canton Fair buyers and exhibitors are expecting the yuan to further strengthen in the next 12 months which will further negatively affect buying sentiment.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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