In order to ease some pressure for exhibitors amid the global financial crisis, the organizing committee of China Import and Export Fair (also known as Canton Fair), will lower the prices of exhibition booths.

This is the first time in the 52-year history of the Canton Fair that booth charges have been slashed, organizers said.

"As for domestic exhibitors, standard booths in exhibition halls A and B will be cheaper by 1,000 RMB ($146), while booths in hall C will be 2,000 RMB ($292) cheaper for the upcoming 105th session of the fair," Mu Xinhai, spokesman for the fair, announced last week.

The rent for a standard booth, covering an area of 9 square meters, for the three-week fair will be 30,000 RMB, he said.

He added that the organizing committee decided to provide space "free of cost to exhibitors from least-developed countries" as listed by the United Nations, and offer a 25 percent discount to other foreign exhibitors.

According to Mu, the organizing committee has budgeted over 10 million RMB for overseas promotions of the 105th session and plans to invite at least 800,000 overseas buyers.

Additionally, the closing time of the fair each day will be extended by one hour to 7 pm, "so that buyers and exhibitors have more time for business".