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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Iliana Torres 
Global Sourcing, Logistics, Supplier Assessment 
Comments Off on 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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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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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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Iliana Torres
Global Sourcing, Logistics, Opportunities
Comments Off on 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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Iliana Torres
Global Sourcing, Logistics, Safety and Compliance
Comments Off on 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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Container Loading Supervision (4 out 4)
15 Oct 2020
Quality Inspections during Travel Restrictions ( 3 out of 4)
29 Sep 2020
International Sales Contract
23 Sep 2020
