Logistics

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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China, 3rd Highest Labor Costs in Asia

01

Aug 2011


Logistics, Quality Control, Quality Management, Safety and Compliance
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China, 3rd Highest Labor Costs in Asia

An average worker in China costs more than the average worker in any other emerging Asian economy, save Malaysia and Thailand, when considered in terms of combined salary and welfare payments, China Briefing has found.   Conducting a review of minimum labor costs, determined by the legal minimum amount stipulated in 15 different countries, and added together with the pertinent mandatory welfare payments due, it is apparent that since the introduction of the revised labor law in 2008, ...

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China’s Logistics: New Artic Sea Way

31

Jul 2011


Global Sourcing, Logistics
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China’s Logistics: New Artic Sea Way

The use of Arctic shipping routes is doubling this year as global warming makes it more convenient to traverse the Arctic Ocean when servicing Russia, Europe and Eastern China.   Escorted by Russian ice-breakers, the Arctic routes are being used from now until October. The first vessel to use the route this year is a Singaporean tanker, carrying gas condensate from the Russian Novatekc Purovsky gas processing plant to the city of Ningbo on China’s eastern seaboard. The arctic route ...

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Yibin Port Impresses

31

Jul 2011


Global Sourcing, Logistics, Opportunities
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Yibin Port Impresses

CHENGDU - The Sichuan Yibin Port Economic Development Zone Industry Cooperation Fair was held in Yibin, Southwest China's Sichuan province, on Saturday, drawing 44 firms, chambers of commerce and international organizations from Japan, South Korea and other parts of China.   Some of them are Fortune 500 firms. They compared notes on development of the Yibin Port Economic Development Zone and sought business opportunities there.   On Friday afternoon, representatives of the...

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Inside View on China’s Logistics

31

Jul 2011


Global Sourcing, Logistics
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Inside View on China’s Logistics

  China's expenditures on logistical services totaled 3.7 trillion yuan ($570 billion) in the first half of 2011, an increase of 18.5 percent year-on-year, statistics showed.   The spending accounted for 18 percent of the country's gross domestic product (GDP), the China Federation of Logistics and Purchasing and the China Logistics Information Center said in a report published on their websites.   The report attributed the growing spending to rising costs for raw m...

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