HK airport has direct bus to China Hotel Marriott. You can get there first and the Liu Hua Hotel is not far from Marriott. You can walk or take a taxi to the place.
Walk to Guangzhou Railway Station from Liuhua Hotel and then take subway to Zhongda Station. Get out of the subway station and the fabric market is just nearby. It it far away and I think subway is best way.
Also take metro from Guangzhou Railway Station and get off at Gongyuanqian Station (only three stops). Then walk to Beijing Road.

Thanks Mr Jerry for your reply.

So how much will be the bus fare and how long will the journey takes?

But a friend of mine suggested me to take a bus from HKIA and stop at Sheung Shui station. From that station have to take train to Lowu Railway station and taking another train again going to Guongzhou Railway Station. Is this correct?

sorry ,i mistake the answering area.
As I know ,like Jerry refered, taking bus is the most convinent way to get GZ from HK.Cost less than 100 RMB and take 1-2 hours.
"LOWU Railway",I guess it refers to "LUOHU Railway" in shenzhen city? That can work, but not that convenient.