Shanghai Daily news

Companies exhibiting at this year's East China Fair in Shanghai set records for export deals to Europe and the United States, netting double-digit increases in sales, fair organizers said yesterday at the close of the six-day event.
Textile and apparel exports made major advances after global quotas covering their products were lifted this year, observers said.
The fair, the second-largest trade exhibition in China, is considered a barometer for the country's export performance for the coming year.
As its doors closed, organizers counted up total export deals worth US$2.97 billion, a 16.2 percent increase from last year's event.
Textile and apparel exports increased 22.5 percent to US$1.78 billion. Deals in light-industry products and arts and crafts reached US$1.14 billion, a rise of 7.7 percent.
European buyers signed contracts worth US$840.1 million, up by almost half from last year, while US buyers bought US$669.9 million worth of products deals, a jump of 69 percent.
Asian buyers netted US$1.3 billion worth of trade deals, down 4.3 percent from the previous fair.
The number of overseas visitors also set a record, exceeding 20,000, up around 9 percent.
Among them, 3,255 were from Europe, a 50 percent jump from last year, and 2,176 from the United States, a 38 percent increase.
"A new round of tough competition has started in the European and US markets among Chinese textile exporters," said Yang Kun of the Shanghai Silk Group. "More exporters are crowding into these two markets, which were previously restricted by quotas, and a price war is inevitable."