China in the Financial Crisis

Since the World Bank forecast China’s 7.5 percent economic growth in 2009, the country has been bracing for an economic fall. Effects of the global fi nancial tsunami are apparent in China. The growth of the nation’s industrial added value stood at 5.4 percent, rather than the expected 7 percent, in November 2008 – the lowest growth since 1999. The US $189.89 billion import/export volume over the same period also represented a 9 percent drop compared with 2007. Pessimism pervades the large clusters of export-oriented     

SOURCE OF THE SURPLUS

The Chinese Government tries to find answers to the country's mammoth trade surplus There's more to China's huge trade surplus than the export factor. February is a good example of that. The month saw $23.76 billion in China's trade surplus, second only to the record high of $23.83 billion in October 2006. According to the General Administration of Customs (GAC), in February, the total volume of China's foreign trade amounted to $140.44 billion, a year-on-year increase of 32.9 percent. Of the total, exports hit $82.1 billion, soaring 51.7 percent, while imports grew 13.1 percent to $58.34 billion.     

Facts and Figures

Ningbo city covers 9,365square kilometers. with a population of 5.33 million. The urbanarea covers l,033 square kilometers, with a population of l.22million.In 1999, the GDP of Ningboreached 107 billion yuan, and itsrevenue was 10.86 billion yuan. Itis an important industrial base ofZhejiang Province, as well as themajor production base for grain,cotton, oil and aquatic products.The export volume of the cityin 1999 was 3.477 billion yuan,the per capita annual expendableincome of urban resid…     

ECONOMY

正Foreign Trade The import and export volume of China expanded 28.5 percent year on year to 11.62 trillion yuan ($1.8 trillion) in the first four months of 2021, up 21.8 percent from the pre-epidemic level in 2019, data from the General Administration of Customs of China (GACC) showed on May 7.     

Traditional Chinese Medicine ＂Making Housecalls＂ Abroad

TONGRENTANG （TRT）, the leading brand of traditional Chinese medicine, realized sales revenues of RMB10 billion in 2009. The export volume reached US $25.44 million, with a year-on-year growth of over 10 percent, allowing the company to continue to hold the title of largest exporter of Chinese patent drugs.     

Hekou-Gateway to Southeast Asia

ONE of the 12 busiest ports on the Sino-Vietnamese border, Hekou saw its total import/export volume leap a stunning 126 percent in the first quarter of this year, compared with the same period in 2004. The total figure stood at an impressive RMB 913.27 million (approximately US $11 million). Hekou Yao Autonomous County in southern Yunnan stands out from other Chinese counties. Covering an area of     

Business in Brief

According to IDC statistics, in 2001 the sales volume of the Chinese software market amounted to US $1.7 billion, an increase of 62.8 percent over 2000. The IDC predicts that between 2001 and 2006, the software market will grow at an annual average rate of 37.8 percent to reach a sales volume of US $8.6 billion, equivalent to 70 billion yuan, in 2006.In the face of the international market slump, software giants such as Microsoft, IBM, HP, Oracle and SAP are looking to China with competition in mind.     

Give and Take:China’s Experience of Agricultural Cooperation

WU Liangyong,a prominent Chinese expert on architecture and urban planning,once said,"You can’t imagine industry without the support of agriculture,or urban life without any connection with the countryside."As the global economy becomes more integrated,international communication about agriculture is growing and,with its massive import and export volume,China is no small player. Its international cooperation on agriculture is becoming increasingly influential in its primarysector development,evolving from focusing on trade,attracting foreign investment and importing technologies to establishing farms abroad,exporting domestically-developed facilities and technologies and participating in the formulation of international agricultural rules.     

ECONOMY/SOCIETY

<正>In the first 11 months of 2022, China’s total import and export volume increased by 8.6 percent year-on-year.Fast-Moving Consumer Goods Market Resilient Despite COVID-19 China’s fast-moving consumer goods(FMCG) sector showed a resilient performance despite the impact of COVID-19.     

ECONOMY

正Hi-Tech Resilience China’s national hi-tech zones have maintained growth despite the impact of the epidemic, a senior official said on July 23.In May, the revenue of hi-tech zones reached 3.27 trillion yuan($467 billion), up 10.3 percent year on year, and the export volume     

Trade Balancing Act

Since China and India established a strategic partnership in 2005, their bilateral economic and trade relations have seen rapid growth. Bilateral trade has increased at an annual speed of 40 percent, resulting in a record volume of $73.6 billion in 2011. However, the trade imbalance between the two countries has also increased over the years, reaching a record high of $53.2 billion in 2016. The trade deficit has become a hot issue demanding the attention of both governments as wel as analytical research.     

MARKET WATCH

China's central bank cut benchmark interest rates for the second time this year to spur economic development against the backdrop of a possible world eco-nomic recession. Despite the devastating financial crisis, most banks here posted profit increases in the first three quarters. Foreign banks operating in China doubled their profits in the first nine months year on year to more than 10 billion yuan ($1.47 billion), while domestic banks earned 237 billion yuan ($35 billion). The Industrial and Commer-cial Bank of China remained the world's most profitable bank. The October export tax rebate increase might not be enough to help exporters on the edge of bankruptcy, who say cost surges and reduced foreign demand are the root causes of their problems. The government is conducting a survey of the salaries of staff at large state-owned enter-prises and has passed a law to safeguard the nation's state-owned assets.     

MARKET WATCH

TO THE POINT:The Hong Kong and New York listed China Netcom felt early pressure in the new year on news of its diminished telecom sales in 2007.Yet the biggest operator China Telecom came out on top, though barely meeting its year-end targets.China cut the major fuel import duty to cope with a national fuel short- age,while steel export duty was raised again in a bid to curb the export of energy-consuming products.Middle- class breadwinners must report their income from stocks and properties to the tax authorities.Foreign financial institutions will have more access to the Chinese capital market in the new year.     

Huge whirlwind of little Kaiten-Zushi

After the return of Hong Kong in 1997, the business opportunities in the mainland were known to Hong Kong merchants. The merchants who dealt in import and export trade in Shenzhen, including us, were strongly struck by Hong Kong merchants; therefore, we began to think over about the way out: what we should do if import and export trade would doom? Several years before that, we discovered that our kids had been fond of American style fast food; so we thought of talking with McDonald about c…     

Focus

China: The World's Fifth Largest Ad Market China's advertising market continues to grow at an astonishing pace, and is currently worth about RMB 180 billion a year. That makes it the world's fifth largest ad market. However, half of that sum was generated in Beijing, Shanghai and Guangdong alone, and the top ten provinces with the highest business volume accounted for about 90 percent of the total. Net Dealers Rocket to 20 Million China's population of online merchants has soared to 20 million in the last three years. There are now more than 2,000 companies offering e-commerce services. With close to 17 million members, www.alibaba.com is by far the biggest company, and www.hc360.com comes in a distant second. The figures are rising every day. However, according to statistics released by the Ministry of Commerce, the trade volume for all e-commerce conducted in 2005 amounted to just RMB 300 billion. That figure accounts for a mere 3.5 percent of the total sales of small and medium-sized firms.     

DISMAYED OVER TRADE

Seventeen. That's the number of China's actual working days in February, largely due to the Spring Festival. Yet somehow, in such a short working month, exports soared to new highs, causing the trade surplus to boom once again. According to statistics from the General Administration of Customs, exports in February hit $82.1 billion, up 51.7 percent compared with that of the previous year. Imports reached $5834 billion, rising 13.1 percent. The export growth rate was a record. Wang Yifu, Vice Governor of Fujian Province and a member of Chinese People's Political Consultative Conference, shared his views with Beijing Review on how to solve the trade imbalance.     

Introduction to the CCCLA

The China Chamber ofCommerce for Import and Export ofLight Industrial Products and Arts-Crafts (CCCLA), a self-administeredorganization of enterprises that dealwith the import and export trade, rati-fied by the relevant State Councildepartment, was founded in 1988 tocoordinate the light industrial prod-ucts and arts-crafts trades, and to pro-vide service for its member enterpris-es. The CCCLA has the followingfunctions:(1) To conduct research on thecurrent situation and to gain a per-s…     

Cozy Business Ties

Since 1975, Germany has been China's largest trading partner in Europe. China is currently Germany's largest trading partner in Asia, with a trade volume totaling $78 billion in 2006, up 23.6 percent from a year before. Germany has also been the biggest European investor in China, with an accumulated investment of about 10 billion euros ($7.4 billion). German FDI going to China totaled $1.98 billion last year, a year-on-year increase of 29.3 percent. In an exclusive interview with Beijing Review, Jutta Ludwig, Executive Director of the German Chamber of Commerce in China and Chief Representative of the Delegation of German Industry & Commerce Beijing, discusses the secrets of this cozy business relationship, talking about the chamber's role in promoting bilateral economic ties, German investments in China, as well as intellectual property rights (IPR) issues involved in Sino-German technology     

China-Africa Cooperation More Diversified

THE recently issued govern- ment white paper on China- Africa economic and trade cooperation, the second on the topic published since 2OLO, un- derlines the latest achievements of the mutually beneficial cooperation be- tween China and African countries. It shows that in 2012, the total volume of China-Africa trade reached a new high of US $198.49 billion, a year-on- year growth of 19.3 percent. China＇s exports to and imports from Africa also surpassed previous years＇ figures, indicating a growing momentum in this area despite the slow global eco- nomic recovery.     

Social Pot

Local dish mixes atmosphere of friendship with hearty grub The Chinese hotpot a traditional and typical style of cuisine,is going international. Local chain Haidilao is planning to open a restaurant in Westfield Shopping Center in Arcadia,Los Angeles.With more than 70 eateries in 15 cities across China and over 14,000 staff,it is one of the 10 most popular hotpot restaurants in the country.In 2011,Haidilao realized a sales volume of 2 billion yuan($320 million).According to China Business News,