China Trade Show
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- Small
commodities fair to lure 110,000 businessmen
Oct. 21 (Xinhua) -- Over
110,000 domestic and foreign business people from 130
countries and regions will display and sell products
during a trade fair from Monday to Friday to in Yiwu
City, east China's Zhejiang Province. More than
200,000 kinds of small commodities produced by over
2,565 domestic and overseas factories are on display
at the 2007 China Yiwu International Small Commodities
Exposition, the fair organizers said on Sunday. There
are 4,500 booths for the exhibitors, covering a floor
area of 90,000 square meters, they said. A
series of lectures, forums and presentations will be
held as part of the international commodities fair,
which was launched in 1995.Last year, the fair reached
a total trade value of 9.45 billion yuan (1.26 billion
U.S. dollars), including 780 million U.S. dollars
export. Yiwu has turned into Asia's largest
marketplace of small commodities ranging from needles
and buttons to lighters and playing cards, since China
launched its reform and opening drive 29 years ago.
Zhejiang, one of the fastest developed provinces in
the country, is home to many factories producing small
commodities in large quantities
- Macao Int'l Trade and Investment Fair opens
Oct. 18 -- The
Macao International Trade and Investment Fair (MIF)
opened here Thursday, attracting 236 commerce and
trade delegations from 50 countries and regions. The
fair, sponsored by the Macao Trade and Investment
Promotion Institute (MTIPI), boasts an event for over
30 seminars, conferences and product promotion
programs. It features a 18,000-square-meter exhibition
area and 889 exhibition booths. The four-day annual
event has become an important trade platform for
enterprises from the Chinese mainland, European and
Portuguese-speaking countries, the organizers said. (Xinhua)
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Four major obstacles to
Chinese foreign trade
People's Daily
Online June 27, 2006 - The period of the 11th
five-year plan is very important for China. According to Zhang Lichuan, a
Director with the Statistical Department of General Administration of
Customs of China, to be a recognized trading power China must commit to
the search for solutions to emerging issues in foreign trade. She also
said that the Chinese government should focus on four major hurdles in the
field of foreign trade.
- Firstly, China should
deal with pressure from international markets that are gradually becoming
saturated. In 2005, the volume of Chinese exports ranked third in the
world, making up 7.3 per cent of the world's total volume, 3.4 percentage
points up from 2000. In 2005, ranked among the world's top ten countries
in terms of export volume, China is growing much faster than the other
nine countries. The growth rate of Chinese exports exceeds the world's
average rate of 13 per cent. As a result, the growth of Chinese exports is
increasingly subjected to international markets.
- Secondly, the cost of Chinese exports is increasing, partly because of the
higher cost of labor and environmental protection. Cheap labor is the
foundation of the Chinese economy. However, the worker shortage apparent
in some areas of China indicates that it is inappropriate to sacrifice
workers' welfare for the sake of low export prices and the Chinese
government should change the situation. In recent years, China has
tightened restrictions on the export of products that consume a lot of
energy, create a lot of pollution or use a lot of resources in their
production. Limited resources and the environment have become major
obstacles to the growth of Chinese exports.
- Thirdly, increasing international
trade protection has caused China to stumble into difficult territory.
China has been involved in the world's largest number of anti-dumping
cases in recent years.
- Finally, the trade imbalance
between China and other countries is getting worse. As the Renminbi
appreciates, Chinese enterprises will face greater exchange risks in
import-export trade. Increasing pressures from the appreciating Renminbi
will create new requirements and challenges for Chinese enterprises
engaged in import-export trade.
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Comment: A game not really worth
the candle!
People's Daily, April 24, 2007 - The United States has filed two lawsuits
against China at the World Trade Organization (WTO) over intellectual
property infringement, charging it with rampant piracy and restricting
American movies and music products and books from entering into the
country. This is the third time the Bush administration, facing
Congressional pressure in the sphere of trade, has lodged complaints
against China and imposed pressure upon it. This US move is not wise, and
will eventually be a pure game not really worth the candle, and even
American media and relevant researchers hold such a viewpoint. (Click
for full article.)
China to import 355 mln
tons of iron ore next year
Xinhua,
Dec. 30, 2006 - China
will import the bulk of the world's increasing demand for iron ore next
year, with imports expected to rise by 30 million tons to 355 million tons
in 2007,an industry report says. The China Iron and Steel Association (CSIA)
predicted that international demand and supply would remain stable next
year. China's largest steelmaker, the Baosteel Group Corp, has settled the
iron ore price for 2007, at a 9.5 percent increase from last year, with
the major iron ore producers, including Brazilian Companhia Vale do Rio
Doce (CVRD). (Full
report)
China to adjust export tax rebate rates from
tomorrow
China will
adjust some of its export tax rebate rates from tomorrow, aiming to
achieve greater trade balance, according to a joint statement by five
government agencies. (Click
for full report)
Monthly trade surplus hits new
high
Nov. 8,
2006 - China said Wednesday its trade surplus hit a record monthly high in
October as exports soared and import growth fell amid government efforts
to cool off the sizzling economy. The surplus in October jumped to US$23.8
billion, up 27 percent from the previous high of US$18.8 billion in
August, according to the General Administration of Customs. That raised
China's total surplus for the first 10 months of the year to US$133.6
billion, already exceeding the US$102 billion surplus for all of 2005, the
agency said. China's growing trade gap has fueled demands by Washington
and other trading partners for Beijing to raise the value of its currency,
the yuan. October was the fifth time this year that the monthly trade
surplus has reached a new record high. The surplus set records in May,
June, July and August before briefly dropping back to US$15.3 billion in
September. (Click
for full report)
Sino-Japanese trade hits new record
Aug. 29, 2006 - Japan's trade with China jumped almost 10% in the
six months to June, setting a record high for a seventh straight year
despite diplomatic frictions. Total trade between the two Asian
economies came to 99.2 billion dollars in the first-half period, up
9.9 percent from a year-earlier, the Japan External Trade Organization
(JETRO) reported Monday. (Click
for full report)
China's technology imports
up 45.2%
China's
technology imports reached 17.95 billion U.S. dollars in the first
nine months of this year, up 45.2 percent over last year, reported the
Ministry of Commerce (MOC) on Monday. Contracts for copyright licenses
constitute the largest part of the total contracted fund, with a
year-on-year growth of 57.5 percent. The European Union (EU) is the
largest technology exporter to China with a contracted value of 7.54
billion U.S. dollars, up 32 percent. (Click
for full report)
August trade surplus hits
record
China Daily, Sep. 12, 2006 - China posted a record trade surplus of
US$18.8 billion in August, far exceeding the previous peak of US$14.6
billion the previous month, according to the General Administration of
Customs. The August surplus, the fourth consecutive monthly record,
was driven by a 32.8 per cent jump in exports from a year earlier,
which outpaced the 24.6 per cent rise in imports. August exports
recorded US$90.8 billion while imports were US$72 billion. China
posted a trade surplus of US$94.65 billion in the first eight months,
up 57 per cent over the same period last year. Exports rose nearly 26
per cent to about US$600 billion while imports reached US$505 billion,
an increase of 21.6 per cent.
China Raises Foreign-Currency Ratio to Ease Pressure
(Update2)
Aug. 30, 2006 - (Bloomberg) -- China ordered lenders to increase the
amount of foreign-currency deposits they hold at the central bank for the
first time since 2004, to curb investments boom and ease pressure on the
yuan to strengthen. (Click
for full report)
China relaxes QFII rules to
attract more overseas investment
BEIJING, Aug. 25 (Xinhua) -- China
announced Friday its revised rules on qualified foreign institutional
investors (QFII) in a bid to attract more non-speculative overseas
investment for its stock markets. Under the new rules, more overseas
foreign institutional investors will be eligible as qualified investors in
the Chinese A-share markets as the threshold for QFII was slashed
significantly. The China Securities Regulatory Commission, which made
public the rules in cooperation with the country's foreign exchange
watchdog and the central bank, said it will also increase the quota of
foreign investment in the Chinese stock markets.
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