Companies that reevaluate their China-based manufacturing operations can remain competitive despite inflation. Executives across China have been quick to mention rapidly increasing labor costs in recent years as one of their top concerns for their China operations. China’s labor costs in the urban manufacturing sector reached ¥31,000 ($4,579) per employee per year in 2010, more than doubling from just ¥12,700 ($1,5...
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Responding to rising trade volumes, Zhengzhou, a business and logistic center in Central China, has started rail service to Hamburg, Germany. The train takes 18 days to make the 10,214-kilometer trip, but that's more than twice as fast as maritime transport. It can also effectively save 80 percent of the cost compared with air shipments, and it's about $489 cheaper on average compared with road transportation, which is a major incentive for the Eurasian Land Bridge, also dubbed New ...
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China’s growing middle class will become a strong source of purchasing power by reaching up to 630 million over the next decade. The primary objective for the Chinese government is to meet the expected demand and become a more customer-driven economy. The Chinese government restricts imports of American goods and has high tariffs on goods Chinese consumers are willing to buy. By decreasing tariffs on the imported goods China could help itself to obtain its objectives. Next will be introduced s...
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Iliana Torres 
Global Sourcing, Quality Control, Quality Management, Supplier Assessment 
Comments Off on Why Being in China Is Compulsory? If you have ever imported from China before, you know how important it is to have a presence on the ground, with your own staff or with external help. Not having one can create many headaches, frustration and can cost you thousands of dollars. Not having representatives in China can be the difference between managing a successful importing project from China or an unsuccessful one. Setting up your own presence in China can be difficult, expensive and time consuming. Therefore, many ...
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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, Quality Control
Comments Off on Trade Surplus Rises in Coming Months China's monthly surplus is expected to "widen" in the coming months though export growth will "decelerate", probably causing some factories to close, said the Ministry of Commerce on Thursday. As domestic and global business conditions deteriorate, some manufacturers and exporters might struggle in the months ahead, with even some going bankrupt, said Zhang Ji, director-general of the ministry's department of mechanical, electronic and high-technology industries. Accord...
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China! In process of becoming the world’s future mastodon and biggest agent in the Trade sector. Starting from your car, your children’s toys, the bag or jean you wear, to electronic devises; they were partially or entirely produced by Asia’s heart, China. At present, important flows encircle the globe. They are due to long term import-export relationships engaged between Europe (even the entire planet) and this nonstop production factory that is China. Deals are concluded and freigh...
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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
