Posts by itorres

How to Make the Best of Alibaba

18

Apr 2012


Global Sourcing, Opportunities
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How to Make the Best of Alibaba

¨          What is Alibaba? Founded in 1999 in Hangzhou, China, Alibaba.com makes it easy for millions of buyers and suppliers around the world to do business online mainly through three marketplaces: a global trade platform (alibaba.com) for importers and exporters; a Chinese platform (1688.com) for domestic trade in China; and a transaction-based wholesale platform on the global site (aliexpress.com) geared for smaller buyers seeking fast shipment of small quantities of goods. Tog...

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More Intra-business to Forsee in BRICS

06

Apr 2012


Global Sourcing, Safety and Compliance
1 comment

More Intra-business to Forsee in BRICS

In the dark shadow of global economic downturn, the trade and economic ministers of BRICS nations including India today collectively call for need to resist protectionist tendencies and to promote international trade as an engine of economic growth and development.   “Adversity of financial crisis is being faced by all. There is a need to work together to overcome from this problem,” Commerce and Industry Minister, Anand Sharma said while interacting with media after the meeting o...

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Increase Shippment Density Creatively

26

Mar 2012


Logistics, Supplier Assessment
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Increase Shippment Density Creatively

Fuel price increases, passed on by the ship owners through surcharges or increased operating costs, have laid waste to transport budgets, at the same time as media, consumers, shareholders and regulators apply pressure on organizations to measure and lower their carbon emissions. This combination has forced companies to look for steps to become more fuel-efficient.   There is already plenty of work going on to reduce emissions in the shipping industry, which annually emits more than a...

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Competitive China Drives US Exports

13

Mar 2012


Logistics, Opportunities
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Competitive China Drives US Exports

Key challenges persist - rising costs and competition for talent rank as top challenges while companies report little improvement in China’s regulatory environment.   “US companies are realizing gains after years of investment in China. That’s the good news. But China is a tough place to do business, it always has been, and this year’s China Business Climate Indices quantify that” said Kent Kedl, Managing Director, Greater China and North Asia, Control Risks.   Th...

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Tax Incentives to Logistics Industry

06

Mar 2012


Global Sourcing, Logistics
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Tax Incentives to Logistics Industry

According to the China Federation of Logistics and Purchasing, logistics costs accounted for 18 percent of the country’s GDP in 2010.   China’s logistics infrastructure has improved significantly during the implementation of the country’s eleventh Five-Year Plan (2006-2010).   On June 8, 2011, Premier Wen Jia Bao announced that “we must make a complete set of policies and measures, and promote the healthy development of the logistics industry.” The resulting logis...

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How WFOE Starts Business in China

15

Feb 2012


Global Sourcing, Safety and Compliance
2 comments

How WFOE Starts Business in China

The Wholly Foreign Owned Enterprise (WFOE or WOFE) is a Limited liability company wholly owned by the foreign investor(s). In China, WFOEs were originally conceived for encouraged manufacturing activities that were either export orientated or introduced advanced technology. However, after China's entered the WTO, these conditions were gradually abolished and the WFOE is increasingly being used for service providers such as a variety of consulting and management services, software development and...

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What Does 2012 Hold in Supply Chain?

08

Feb 2012


Global Sourcing, Logistics, Supplier Assessment
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What Does 2012 Hold in Supply Chain?

Procurement, in the year 2011, witnessed some of the major challenges, especially from a supply chain perspective. Procurement professionals around the globe were seen fighting supply disruptions emerging out of the adverse events that occurred in 2011 which not only resulted in production losses but also negatively impacted company bottom lines. Based on the impact of these threats, various studies are forecasting a loss of €280 billion for the year 2012.   Effectively managing sup...

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Direct Use of Yuan and Yen

11

Jan 2012


Global Sourcing, Logistics
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Direct Use of Yuan and Yen

Chinese Premier Wen Jiabao told visiting Japanese Prime Minster Yoshihiko Noda that China is willing to work with Japan in promoting the direct use of their respective currencies in bilateral trade.   China's central bank announced shortly after the Wen-Noda talks to encourage the direct use of Chinese currency RMB, or the yuan, and Japanese yen in cross-border transactions between China and Japan.   The agreement is expected to give the Chinese yuan a more powerful role in...

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Tariff Implementation 2012 in China

11

Jan 2012


Logistics, Safety and Compliance
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Tariff Implementation 2012 in China

China’s Ministry of Finance recently published the “Tariff Implementation Plan 2012 (shuiweihui [2011] No.27),” where it clarified both import and export tariffs on specific products for next year.   Over 700 types of products will be able to enjoy temporary tariff rates, most of which are lower than the most-favored-nation (MFN) tariff rates.   According to the new Plan,   -  The MFN import tariff rates will remain unchanged   -  52 types of ...

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RMB Kick offs against Aussie Dollar

01

Dec 2011


Global Sourcing, Logistics, Opportunities
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RMB Kick offs against Aussie Dollar

The Chinese local currency renminbi (RMB) kicked off trading against the Australian dollar and the Canadian dollar in the country’s onshore market on Monday. The two new foreign currencies have become the latest additions to the seven other foreign currencies that are currently being traded directly against the RMB.   The RMB opened at 6.1266 against the Canadian dollar on the first day of trading, after the People’s Bank of China (PBOC) fixed the RMB/Canadian dollar’s mid-point...

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