Are Chinese exporters faring well? The latest session of the China Import and Export Fair, known as the Canton Fair, a bellwether for the trade climate, could offer some clues.

The first phase of the Canton Fair's fall session witnessed export deals worth $21.15 billion, up 12.3 percent from the fair's last session in April, said Canton Fair Deputy General Secretary Liu Jianjun. The number of foreign buyers totaled 98,000, down 5.5 percent.

Despite showing signs of recovery, the hard-hit export sector has yet to fully regain its lost ground due to costs inflation, a stronger yuan, and simmering protectionism, said Liu.

The Guangdong Fenglu Aluminum Co. Ltd., for example, has suffered painful losses from restrictions imposed by the developed countries, Chen Nuansen, a marketing manager of the Chinese company, told the Nanfang Daily.

The U.S. Government is likely to slap 137-percent anti-subsidy duties on Chinese aluminum profiles, dealing a heavy blow to the exporters, he said.

"While our orders from the traditional Western markets dry up, the emerging markets in the Middle East and Southeast Asia are bursting with vitality," said Wu Jianfeng, export manager of Guangzhou Hongyu Group.

In addition, it is easier to gain a foothold in the emerging markets where distribution channels are not deeply entrenched and local competition is not insuperable, he said.