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The biannual China Import and Export Fair has long been an event which attracts all traders.

The Canton Fair, as it is known, has been held every spring and autumn since 1957 in the southern city of Guangzhou.

The fair has become the bellwether of the nation’s foreign trade climate. People express their feeling “honoured” to be part of it.

In the early days, over 80 percent of China’s foreign trade deals were done with socialist countries led by the Soviet Union. But in the 1950s, Guangzhou was already the venue for entrepreneurs from Hong Kong, Macao Read more…

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China Business, China Economy, China Trade Import Export event, fair, Guangzhou, history, trade

According to the fair organizers, the 13th Macao International Trade and Investment Fair (MIF) organizers, this fair is expected to attract more participants than ever from home and abroad with its much diversified displays.

The largest trade and economic annual event in the city will be held at The Cotai Strip TM Convention and Exhibition Center at the Venetian Macau from October 23 to 26, said Macao Trade and Investment Promotion Institute (IPIM).

The fair has contributed a lot to Macao in several aspects, such as investment, trade and cooperation with global business partners.

This year’s MIF will see a wider range of exhibiting pavilions, with the main displaying booths featuring companies from the mainland, European Union, and Portuguese-speaking countries. There will also be Read more…

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China Business, China Business News, China Economy, China Trade Import Export business, event, fair, Macao, trade

The China-ASEAN (Association of Southeast Asian Nations) free trade area will be created by the catalyst—-the China-ASEAN Expo.

Gao Hucheng, vice-co-chair of the committee and also China’s vice-minister of commerce, said that the expo’s four successful rounds had made the FTA become true. Read more…

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China Economy, China Trade Import Export ASEAN, China, expo, free, trade

Date: September 9, 2008 Loan No.: C05-P211, C06-P219 Bid No.: 0702-0830CITC6035

1. The People’s Republic of China has received an ODA Loan from JAPAN BANK FOR INTERNATIONAL COOPERATION (hereinafter referred to as JBIC) towards the cost of Yunnan Kunming Water Environmental Improvement Project, and intends to apply the proceeds of the loan to payments under the contracts for procurement of goods (detailed list as follows). Disbursement of ODA Loan by JBIC will be subject, in all Read more…

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China Trade Import Export, Invitation for Bids China IFB CBC, Improvement, JBIC, Water, Yunnan

The 8th China International Ceramics Industry Exhibition will be held from September 16 to 19 in the city of Zibo in east China’s Shandong province.

About 40,000 participants from over 30 countries and regions are expected to appear in this show. It was said that the latest porcelain and pottery and the new technologies belong to more than 1,000 ceramics enterprises would be unveiled at the large-scale exhibition. Read more…

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Facing the export surplus shrink, which is evident from the first-half Customs data, Chinese government may adjust the export policies to support the export business. It is believed that a proposal thrown by China National Textile & Apparel Council had been handed to the State Council, which suggested the tax rebate for textile materials will increase from 11 to 13 percent, and that of the garment sector will raise to 15 from the current 11 percent.

In June alone trade surplus shrank more than 20.6 percent, making it $5.5 billion less than the previous month. The total trade surplus in the first six months this year declined by 11.8 percent to $99 billion. Textile and garment export, the most seriously influenced sectors, declined by 4.2 percent year-on year to the slowest increase in five years. While for a long time the high trade surplus has been the top concern for economic policy. Exports contribute a large part to the overall economic growth. Influenced by the export slowdown, the total economic growth down to 10.6 percent, which is 1.3 percent below that of last year.

The tough situation draws attention from both the companies and policymakers alike. Recently Premier Wen Jiabao Vice-Premier Li Keqiang and Commerce Minister Chen Deming visited export-oriented provinces and visited enterprises, many of which were in the textile sector. These visits were seen as a sign for policy changes.

Last year, when the high trade surplus was the major concern, export tax rebate of many textile materials and garments were removed or cut down. Many favorable policies for them are also removed, because most textile manufacturing enterprises are energy consuming and may lead to environment pollution. Several months after the policy was put into effect, China’s textile companies are challenged by many other unexpected situations, including rising raw material prices, labor cost, the appreciation of the yuan and the slowdown of US economy. These make the industry association of urge for a policy change ever since April.

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China Trade Import Export export policy change, textile and garment export, trade surplus shrink, unexpected challenges

US Secretary of State Condoleezza Rice visited China late June. Her visit definitely represented the friendship and strategic cooperation relationship between China and U.S. During her two-day visit, Rice not only met the minister of foreign minister, but also went to the Sichuan earthquake disaster areas to console the victims and donate some infrastructures to help the rebuilding of earthquake-hit regions. As the first foreign leader who visited the Sichuan Province, she really shared a high reputation by Chinese mass media and public. Moreover, Bush president has declared that he will attend the opening ceremony of Beijing Olympics, although there’re some dissenters boycotting the events for the reason of the misreading of Chinese human rights records. From the attitudes of the leaders of U.S, we may obviously conclude that the Sino-U.S relationship is on a relatively steady condition.

Besides, the significant improvement in the realms of the international trade between the largest developed country and biggest developing country should be highlighted. According to the recent statistics from China’s Ministry of Commerce, China is the second-biggest trade partner of the US and its fastest-growing export market. In addition, show trade volume between the two nations hit a record high $302.08 billion in 2007, 15 percent more than the previous year. With direct investment in China exceeding $56 billion, funding a total of 54,595 projects by the end of last November, the US continues to be China’s biggest source of foreign investment.

However, as China’s entering for the WTO in Nov. 2001, Chinese enterprises began to expand their business in other country, especially in North American and European Union. Since the reform and opening up policy implemented in China, the FDI (Foreign Direct Investment) has become the major source of foreign investment. Notwithstanding, we should not ignore the potentiality and competitiveness of Chinese companies. Haier and Levono have establish their branches in several continents, in order to enlarge the scale of the sales. Similarly, as the pioneer of the outsourcing industry, BPOVIA is not content with the business only in China, expanding their business to the other parts of world has become their new destination. The news comes that BPOVIA will set up its branch in Chicago, U.S, which will absolutely help the company to improve the relationship with the customs. Moreover, the communication between the company and customs will be more direct and convenient. Obviously, both the company and customs will benefit a lot from the business expanding strategy.

Hence, as the development of China’s economy, it’s a trend for the Chinese enterprisers to invest in other countries. BPOVIA, accompanied with other prominent brands, will surly help Chinese enterprises to establish their great images in the world.

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BPO, China Trade Import Export FDI, Sino-U.S relationship

China’s largest steelmaker Baosteel Group, which has signed a 10-year iron ore contract with Fortescue last year, may buy a stake in Australian iron ore miner Fortescue Metals Group Ltd to ensure stable raw materials supply.

“Baosteel will seek a stake in Fortescue when both sides reach an accord on a number of things, including common goals, development strategy and market positioning,” said Xu Lejiang, chairman of Baosteel Group, yesterday at Baosteel’s Majishan Port in Zhejiang province, where he received the first shipment of 170,000 tons of iron ore from Fortescue.

Having already signed contracts with 33 large and medium-sized Chinese steel manufactures for at least 10 years, the third largest iron ore supplier in Australia said it welcome direct investment by major Chinese companies. Furthermore, with most of its iron ore to be sold in China, Fortescue expects to increase annual production capacity to 100 million tons in 2010.

“The Chinese industrial champion takes Fortescue very seriously, and we will encourage its participation in the future of Fortescue,” Andrew Forrest, founder of Fortescue, was quoted by Reuters as saying yesterday.

Liu Yanqi, an analyst at Haitong Securities, said, “The possible alliance is expected to strengthen Baosteel’s power in iron ore price negotiations with Australian miners, such as Rio Tinto and BHP Billiton.”

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BPO, China Business, China Business News, China Trade Import Export, Investment China Australia, Baosteel, China, Fortescue, investment, iron ore

The Ministry of Industry and Information Technology said on Thursday that due to technological innovation, China’s software exports surged in the first four months of this year.

In the January-April period, exports totaled $3.27 billion, up 54.9% year-on-year. And the software sector’s revenue was 193.55 billion yuan, registering an increase of 31.2%.

In 2001, China’s software exports were worth $720 million and the figure rose to $10.24 billion in the year 2007. And the sector’s income was 583.4 billion yuan in 2007, up 630% from 2001, according to the Ministry.

Last year, Chinese software accounted for 8.7% of the global industry, up from 1.5% in 2001.

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BPO, China Business, China Business News, China Trade Import Export, Internet and Hi-Tech China, export, innovation, Outsourcing, software

As Macao’s economy is witnessing a rapid development, many Australians saw “significant opportunities” in the Special Administrative Region (SAR), said Les Luck, Australian Consul-General Hong Kong and Macao, when delivering a speech at an Australian reception in the island city on May 22nd.

The Consul-General said he was impressed by the level of Australians’ engagement in Macao’s economy, working in fields ranging from the hospitality, gaming, construction, infrastructure, transportation and food and beverage sectors.

James Packer, Australia’s richest man, has set up a joint venture, Melco PBL Entertainment, with Lawrence Ho, son of Macao gaming magnate Stanley Ho, and has built the Crown Macao, a six-star casino resort. And a larger integrated casino resort project initiated by Melco PBL is under construction in the city at present.

In addition, statistics released by the Consulate-General show that between 2006 and 2007, Australia’s merchandise trade with the SAR was worth 632.2 million patacas ($79 million), and Australian’s direct exports to the SAR amounted to 565.1 million patacas ($70.6 million) while imports from Macao’s to 67.1 million patacas ($8.4 million).

“We estimate more than 2,000 Australians live in Macao and expect that number will continue to increase,” said Luck.

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BPO, China Business, China Business News, China Economy, China Trade Import Export, Investment China, Joint Venture China Australia, China, Macao, trade