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China Trade with Canada China Trade with Canada(0)

Hu made his remarks during a meeting with Canadian Prime Minister Stephen Harper, whose Conservative government is trying hard to boost ties with Beijing.

The Canadian government said later that China had opened its market to Canadian beef in a staged process. Canada is the first country affected by BSE, commonly known as mad cow disease, to regain access to the Chinese market for beef.

Under the deal announced on Thursday, Canada said China would initially open its markets to Canadian boneless beef, derived from animals under 30 months old, as well as beef tallow for industrial use.

Canada, which sends 75 percent of all exports to the United States, is eager to diversify into other markets to offset weak demand from its main customer.

As China’s energy consumption booms, it is looking to Canada as a stable supplier of resources, and Chinese companies over the past year have begun increasing their investment in Canada’s oil sands.

In a separate deal announced on Thursday, Encana Corp, Canada’s largest natural gas producer, and state-owned China National Petroleum Corp agreed to negotiate a joint venture to develop the Canadian company’s shale-gas properties in northern British Columbia.

Canadian miner Cameco Corp said it had struck a framework agreement that could lead to supplying uranium to plants under construction by China Guangdong Nuclear Power Holding Co.

Source : Konaxis

Trade Deficit Over $8 Bln Trade Deficit Over $8 Bln(0)

“From October last year to March this year, China has turned from a trade surplus of about $20 billion to a trade deficit of more than $8 billion in March,? Wen said to participants of the China Development Forum in Beijing.

That would be the country?s first trade deficit since April 2004.

Wen said China “would never blindly seek a trade surplus.” “On the contrary, China is making efforts to achieve a basic balance in its international payments and that is the direction of our long-term efforts,” he was quoted as saying. Wen said that while the U.S. government was anxious about its 2 million unemployed, “China has 200 million jobless,” the China Daily reported.

Source : Konaxis

China getting more restrictive on trade China getting more restrictive on trade(0)

“Despite the progress achieved in 2009, several specific issues continued to cause particular concern for the United States and U.S. industry, given China’s WTO obligations,” the U.S. Trade Representative said.

Intellectual property rights, industrial policies, trading rights and distribution services, agriculture and services were the main areas of concern, it said.

Such problems can often “be traced to China’s pursuit of industrial policies that rely on excessive, trade-distorting government intervention intended to promote or protect China’s domestic industries,” the report said.

China has continued to use more restrictive export quotas and export duties on lots of raw material inputs, the report said.

The U.S. Trade Representative also highlighted an array of new central, provincial and local government “Buy China” policies, along with a ban on new entrants into China’s basic telecom sector.

The report paid particular attention to China’s attempts to enforce intellectual property rights, saying this remains “a significant challenge.”

U.S. copyright industries estimate that losses in 2008 due to piracy were approximately $3.5 billion for the music recording and software industries, which is little or no overall improvement over the previous year, according to the report.

Source : Konaxis

Trade rebounds in Asia Trade rebounds in Asia(0)

Factory output climbed 19.2 percent from a year earlier, the statistics bureau said in Beijing Friday. Exports slid 1.2 percent, the smallest drop in 13 months, and imports surged 26.7 percent, a separate report showed.

China?s exports to Southeast Asian nations including Indonesia, Malaysia and Singapore rose 21 percent in November and imports from those countries jumped 45 percent. Growth in Asia may accelerate to 5.75 percent next year, almost twice the likely pace of the expansion of the world economy, the International Monetary Fund says.

Retail sales climbed 15.8 percent, compared with 16.2 percent in October, according to the statistics bureau. Producer prices fell 2.1 percent.

Urban fixed-asset investment gained 32.1 percent in the January-to-November period from a year earlier after climbing 33.1 percent through October, yesterday?s data showed.

New loans topped forecasts, at 294.8 billion yuan, and M2, the broadest measure of money supply, grew a record 29.7 percent.

In the trade figures, exports to the U.S. fell 1.7 percent from a year earlier, the smallest decline since shipments began to tumble in November 2008. Exports to Taiwan climbed 13.5 percent, while those to India rose 26 percent.

Overall, imports climbed the most in 16 months because of rising commodity prices, the boost to domestic demand from stimulus policies and the low base in November 2008. The trade surplus narrowed to $19.1 billion.

Source : Konaxis

China trade practices China trade practices(0)

China’s trade policies generated big surpluses that contributed to the imbalances behind the global financial crisis that started in the United States in 2008, the U.S.-China Economic and Security Review Commission said.

“If China continues to pursue huge trade and investment surpluses and to accumulate vast financial claims, it will hinder the necessary global economic adjustment, create excess manufacturing capacity and lay the groundwork for the next financial crisis,” the bipartisan commission said in its annual report to the U.S. Congress.

The fiscal stimulus plan that China has used to combat the crisis, which won praise in some circles, mainly supports more exports and “will only exacerbate overcapacity, aggravating the overall problem,” said the 367-page report.

The commission urged Congress to press the Obama administration to pursue a mix of WTO cases, the application of U.S. trade laws and pressure on Beijing to allow its currency to trade more freely.

“WTO cases, while important, are very industry specific, and fail to have an impact on the trade-distorting aspects of China’s industrial policy or to deal with the underlying causes of the U.S.-China trade deficit,” it said.

Source : Konaxis

Beijing China Beijing China(0)

It is also the capital of China. This beautiful city covers an area of 16,640 square kilometers or 6,336 square miles and has a population of roughly 15 million people.

Beijing history dates back to more than 3,000 years and has survived such things as invasions from warlords and foreign powers, devastating fires, and the rise and fall of powerful imperial dynasties but has come out of it all to be, today, a strong, vibrant city.

This rich history has left Beijing with rich cultural treasures. The great wall for one and the most well known is a man made structure that winds for several kilometers. Next is the Summer Palace which has beautiful ancient Royal Gardens. Forbidden City is another of Beijing’s beautiful treasures. It is the largest Royal Palace in the world. Finally there is Tiantan. This is where the Chinese in ancient times would defeat their ancestors, and is also the soul of ancient construction.

The best representations of Beijing though would be the vanishing Hutongs and Square Courtyards. They have become a symbol of Beijing’s life for hundreds of years. One of the best examples is Tian’anmen square. This beautiful site contains clover leaf junctions and has tall amazing skyscrapers all over. The old time feel and modern culture together make Tian’anmen Square a brand new visage for Beijing.

Beijing may now be a modern and fashionable city but you can still experience authentic Beijing life in a variety of different ways. You can do this by visiting the various teahouses, temple fairs, the Hutong and Courtyard and by attending the Beijing Opera Houses.

Beijing is also a city with four distinct seasons. The best time to visit though would be in the late spring and autumn. During these seasons you will be able to experience bright sunshine and blue skies. May is especially a great time to visit because there is a lot of international class performances presented where you can enjoy different types of art from all over the globe. In the winter months you can enjoy skiing in Beihai and view the awesome snowy views on West Hill.

It is not good to dwell too much on the historical past of Beijing though as it will give way to a false impression that it is just another ancient city in its style. This is far from true as you stroll through Beijing you will find that it has just as much in common as let?s say New York.

So yes Beijing does have a vast and awesome history. It has been over 3,000 years in the making which shows through in the cultural designs. There are a variety of places to see and visit in Beijing as you have seen here. The different seasons and sites available make it an ideal tourism spot. Why don’t you book a flight and experience the beauty and culture yourself.

China India China India(0)

During the visit both the nations shared the common vision of pushing through the Strategic Cooperative Partnership between the two nations. Both the premiers of the two countries agreed to promote building a cordial environment having peace and prosperity.

The economic and trade relations between the two nations is on a fast pace and the bilateral trade has surpassed dollar 51 billion mark in 2008 which is a neat 34% increase from 2007. The security and defense have also been an agenda in maintaining bilateral relations. The ?Join Hands 2008? was a joint army exercise that was successfully conducted in India ? the subject being combating terrorism. The bilateral relations between the international and regional affairs were also strengthened. Issues such global warming and eventual climate change, Doha round talks and international recession and financial crisis were also discussed amicably. Both the nations worked in a manner that they could get positive results at the G-20 meeting in Washington. The G-20 meeting was successful for both the nations and they could collect substantial amount of money.

According to President Hu Jintao, the bilateral relations between the countries are at their best. The two countries have agreed to carry out exchange programs in which the government sectors and political parties will be exchanging their views and cooperation. Even the youth of the two countries will be visiting the nation under the exchange programs. The dialogues on foreign policies, defense and security and on anti terrorism will be continued. One fascinating outcome of the whole process is that the countries are going to hold China Festival in India and India Festival in China. The celebrations will take place in 2010. The two nations have also decided to work closely on the Asian affairs.

There are certain points where both the nations have to work out in a better way. For example the number of tourists in both countries was limited to 570,000 which actually stand at a mere 0.02% of the total population of both the countries. The technical and visa constraints have to be lifted.

Both the nations are emerging economies; hence they both have extensive potential to develop further. They have to improve their trade imbalance and increase the investment levels. China accounts for a total of 0.03% of the total foreign investment in India. This level should be increased in order to create favorable ambience.

The best way to enhance the relationship and bilateral relations is to politically trust each other. Reinforcement of the exchange programs especially in the academic side, NGO?s and media, will bring about a lot of positive results. The two countries share a common interest concerning various important issues.

Since both the economies have received recognition on the international level for their efforts to sustain and contain the current global crisis, they should further talk in strengthening the cooperation between them.

US, China trade cooperation US, China trade cooperation(0)

“History tells us that openness and cooperation is all the more important amidst a crisis,” Chinese Commerce Minister Chen Deming said in a speech just before China Telecom signed contracts with Cisco, Microsoft, Dell, Emerson and Alcatel-Lucent.

“Trade protectionism will not restore growth. On the contrary, it will exacerbate recession,” Chen said.

Another company, China Mobile also closed deals with HP, Alcatel-Lucent, Oracle, Emerson, Sun Microsystems and Cisco, while China Construction Bank signed with Microsoft, IBM, HP, and Cisco. There were also deals between Ford and Amway with their Chinese counterparts. Details of the deals were not released at the event.

Alcatel-Lucent said it had signed a $1 billion agreement with China Mobile and a $700 million deal with China Telecom to provide network upgrades, integration and maintenance services in 2009.

Chen said the contracts showed China’s “unequivocal” opposition to protectionism and how growth in the Chinese economy would help create jobs abroad.

The three Chinese trade delegations to the U.S. included large State-owned enterprises and private corporations in mechanical and electronic engineering, light industry and investment. They travelled to 14 states, looking for opportunities for trade and investment in small business, environmental protection, high technology and energy conservation.

China’s persistent trade surplus with the United States, a source of tension between Beijing and Washington, hit a record $266.3 billion in 2008.

However, the global recession has hurt both countries’ exports and increased the temptation for governments around the world to raise import barriers to protect local companies.

The visit was an opportunity for Chen to acquaint himself with his US counterpart Locke and US Trade Representative Ron Kirk. Both of the US officials took office last month.

On the other hand, Locke and Energy Secretary Steven Chu, two Chinese Americans in Obama’s cabinet, are expected to visit China in September. Locke said he may be accompanied by a large US delegation.

U.S. Trade Representative Ron Kirk said he looked forward to working with Chen to finish the long-running Doha round of world trade talks and to tackle bilateral trade disputes through the U.S.-China Joint Commission on Commerce and Trade.

While China turns to high-profile channels to communicate with the US, it is prepared to protect the interests of its companies.

“China will resort to the World Trade Organization if the US takes unfair actions against Chinese companies,” Chen said.

The US International Trade Commission on Thursday approved anti-dumping duties ranging from 74 to 101 percent on welded steel line pipe from China that it said was sold at unfairly low prices.

Source : Konaxis

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