Global Sourcing

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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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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China Being EU’s Top Trade Partner

01

Nov 2011


Global Sourcing, Logistics, Safety and Compliance
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China Being EU’s Top Trade Partner

Trade between China and the European Union (EU) totaled 35.6 billion euros ($49.4 billion) in July, allowing China to overtake the United States as the EU's largest trade partner, the Ministry of Commerce said, citing the latest statistics from Eurostat.   The overall value of China-EU trade in July exceeded that of the EU and the United States by 800 million euros, accounting for 13.4 percent of the region's total imports and exports, according to data released by the EU's statistics...

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China: ASEAN Prime Trade Partners

01

Nov 2011


Global Sourcing, Logistics
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China: ASEAN Prime Trade Partners

Indonesian exporters and importers regarded China and ASEAN countries as their prime business partners within the next six months, a report released by Hong Kong Shanghai Banking Corporation (HSBC) said on Wednesday.   The report that was yielded from the results of a bank's Trade Confidence Index (CTI) survey said that Germany was also considered as a potential trading partner with positive trade growth prospect.   The report also said that China, Singapore, Japan, the Uni...

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India v.s. China

02

Sep 2011


Global Sourcing, Logistics
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India v.s. China

It seems to be a national obsession in India: measuring the country’s economic development against China’s yardstick.   At a recent panel discussion to commemorate the 20th anniversary of India’s dismantling parts of its socialist economy, a government minister told business leaders to keep their eye on the big prize: growing faster than China.   “That’s not impossible,” said the minister, Palaniappan Chidambaram, who oversees national security and previously w...

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Blue Economy in China

29

Aug 2011


Global Sourcing, Logistics
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Blue Economy in China

Coastal areas of Shandong, Zhejiang and Guangdong to spearhead sector development   The oceans have often played an important role in shaping the history and charting the destiny of nations. But in modern times the oceans have taken on a different hue with a strong blue (marine) economy holding the promise of steady and sustained economic growth.   China, despite its vast huge coastal resources, has never been able to gain significant economic advantage from them due to...

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China’s New Biggest Export Destination

29

Aug 2011


Global Sourcing, Logistics
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China’s New Biggest Export Destination

China became South Africa's top export destination at the end of 2010 due to strengthened bilateral trade links, according to South African ambassador Bheki Langa.   Investment between the two countries surged to nearly seven billion US dollars at the end of last year, the ambassador told Xinhua in a recent interview. China Customs statistics show that trade between China and South Africa totaled $25.6 billion throughout 2010. Imports from South Africa reached $14.8 billion dur...

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Manufacture set for slower contraction

26

Aug 2011


Global Sourcing, Safety and Compliance
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Manufacture set for slower contraction

China's manufacturing may contract at a slower pace in August as the world's second-biggest economy weathers slumping global confidence.   A preliminary reading of 49.8 for a manufacturing index released by HSBC Holdings PLC and Markit Economics on Tuesday compares with a final reading of 49.3 for July. The final August number is due on Sept 1. A reading below 50 indicates a contraction.   The data suggests that growth in China is moderating rather than collapsing and the s...

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