The Chinese government raised export tax rebates on more than 600 export products, to shore up exports amid global economic downturn.
The Ministry of Finance (MOF) announced on Monday that as of June 1, export tax rebates on products such as machines, shoes, hats and toys will be increased by amounts ranging from 5 to 17 percent.
The government raised tax rebates for the seventh time since last August.
Source: China Daily. Click here to read the full article.
There may never have been a better time to trade with China.
Let ChinaOneCall interpret and translate for you, and help you cross the cultural and business barriers. And remember it is not just exports from China, but also imports from the West to China which are growing, particularly design, IT, architectural and financial services, high fashion clothing and cosmetics. If you can’t find a supplier, or a costumer, we or our partners will be able to help. Let ChinaOneCall help you prosper.
Over the next few months don’t be surprised to hear a lot about China as the planet’s first green superpower. The State Council of China’s cabinet will soon release the details of a staggeringly large “new energy” programme that could make China a global leader in renewable energy and low – carbon technology.
China, a country that already makes most of the world’s solar panels and wind turbines will invest, as reports in the domestic media and from foreign diplomats suggest, between 1.4 trillion (US$200 bn) and 4.5 trillion yuan (US$600bn) over the next ten years in nuclear power plant, solar and wind farms, hydroelectric dams, “green transport”, “clean coal” and super efficient electric grids.
For full article, click here.
Last month 80 business representatives from the Chinese mainland visited Taiwan with bulging wallets and a long shopping list. But the importance of their four-day trip went far beyond the $2.2 billion worth of orders.
The group, organized by The Mainland Association for Cross – Straits Economic and Trade Exchanges was representing 35 companies, including IT and home appliances giants Lenovo, Haier, Chanhong, ZTE and made a step forward towards expanding trade between the Chinese mainland and Taiwan.
Product orders from that trip worth $827 million would be filled by July, and goods worth of $1.4 billion would be delivered by the end of this year, the head of the delegation, Li Shuilin announced.
Source: China Daily. For the full article, click here.
Remember Mandarin also is the main dialect of Taiwan. So we can help with trade with and travel within Taiwan. In Taiwan (and Hong Kong , Macau and other areas) traditional characters are used whereas in most of mainland China (and also in Singapore) the simplified version is common. ChinaOneCall can translate to or from either writing system.
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In a realistic but ultimately optimistic New Year Message to members of the UK’s leading Anglo-Chinese business society, The 48 Group Club, its chairman, Stephen Perry, wrote China faced its biggest challenge in 30 years. When the international markets collapsed due to Fannie Mae and Freddie Mac, Bear Sterns & Lehman Bros all collapsing too, China was suddenly thrown into a major review of policy, of options, and of fall-back positions.
China has almost $US two trillion in reserves, although $US 500-600 billion of that may be caught up in the Fannie Mae/ Freddie Mac debacle. China has a budget surplus and only about 25% of GDP is the state compared to Europe, which is generally over 40% and rising. So China has a lot of scope for stimulating the economy, but effective targeting and avoiding waste and corruption is a real challenge and will hold China back from huge amounts being thrown at the problem too fast.
Stephen Perry’s advice for those involved in China? Don’t dream. Be realistic. Listen to those who are close to China and not to the prejudiced media. We cannot expect a sudden change in China’s stock markets, although it would be welcome. We cannot expect China to suddenly suck in the world’s excess capacity. But they will make moves in the raw materials markets to replenish stocks and maintain growth above 7%. Probably the 4th quarter and 1st quarter of next year will be less than China’s leaders would require but the years of 2008 and 2009 will probably meet their minimum demands.
For those who have not already obtained a copy of ChinaOneCall’s How to do Business in China, please click here. The guide contains valuable information and tips on how to get started and approach China armed with the knowledge on how to tackle many situations.