Canton Fair opens amid inflation concerns (Oct-15-2011 XINHUA)
GUANGZHOU -- The 110th Canton Fair, officially known as the China Import and Export Fair, opened Friday in the city of Guangzhou, capital of the southern province of Guangdong province. Since this year marks the 10th anniversary of China's entry into the World Trade Organization (WTO), the country is willing to give the world a signal of expanding its imports at the fair.
Canton Fair opens amid inflation concerns (Apr-15-2011 XINHUA)
GUANGZHOU -- The Canton Fair, China's largest trade fair and a key indicator of the country's trade and economic development, opened Friday amid growing inflation concerns weighing on the nation's exporters. In addition to exploring business opportunities, the multitudes of sellers and buyers at the fair, officially known as the China Import and Export Fair, are keeping a close watch on developments in the nation's rising inflation.
China's largest trade fair opens in Guangzhou (Oct-15-2010 China Daily)
GUANGZHOU -- Canton Fair, China's largest trade fair and a key barometer of its trade and economic development, opened Friday amid growing concerns that a stronger yuan would weigh on the nation's exports. A total of 23,599 firms at home and abroad are participating as sellers in the 108th Canton Fair in Guangzhou, capital city of south China's Guangdong province.
China scraps export tax rebates on 406 products (Jun-22-2010 XINHUA)
BEIJING: China's State Council has approved the scrapping of export tax rebates on 406 products, effective July 15, the
Ministry of Finance said Tuesday in a statement on it website. The products included some steel and non-ferrous metals products, fertilizers, (pine oil & resin chemicals,) as well as some plastic, rubber and glass products, the statement said. The research center said in a note that the new measure seeks to discourage exports of energy-intensive products.
Indonesian Exhibition (May-24-2010 SUMMIT TRADE)
WUZHOU: We went to Jakarta, Indonesia for an exhibition "2010 CHINA GUANGXI PRODUCTS EXHIBITION" during May 20-22 for pine chemical
business. Please turn to
Speical | Exhibition Gallery Column for detailed photos.
Fair reflects changing mood (Apr-15-2010 China Daily)
GUANGZHOU: More companies taking part in expo, indicating biz confidence has recovered. The rise in the number of participants
in the latest China Import and Export Fair, known as the Canton Fair, which kicks off on Thursday, is a clear indication that
business confidence has bounced back following the global financial crisis, organizers said.
China's largest trade fair opens amid signs of market uptick (Oct-15-2009 XINHUA)
GUANGZHOU: China's largest trade fair opened Thursday as exporters were upbeat about a market recovery amid improving demands,
while the world's major economies were poised to go out of their predicament after stimulus measures produced results.
Exporters attending the 106th China Export and Import Trade Fair, or Canton Fair in the southern city of Guangzhou, expected
a "prominent" order increase from the last fair in April, when trade value slumped 17 percent when economic downturn took its most bite.
Canton Fair opens with hope despite crisis (Apr-16-2009 XINHUA)
GUANGZHOU: The 105th China Import and Export Fair opened Wednesday in this capital city of southern China's Guangdong
Province, with a backdrop of economic slowdown caused by the international financial turmoil, but it did not dampen confidence
and hope among participants.
China hikes export tax rebates (Mar-29-2009 China Daily)
China on Friday unveiled a slew of tax and foreign exchange policy changes to boost its exports, which saw its worst monthly
decline in more than a decade in February. The government will raise export rebates for textiles, steel, petrochemicals and
electronics starting April 1, the Ministry of Finance said in a notice posted on its website on Friday.
China cuts rates 0.27%, fifth reduction in 3 months (Dec-22-2008 www.gov.cn)
China's central bank cut loan and deposit rates by 0.27 percentage points Monday, effective Tuesday, in the government's
latest move to stimulate the economy. It was the fifth time the People's Bank of China (PBOC) had cut rates since September.
The benchmark one-year yuan lending rate will fall to 5.31 percent from 5.58 percent and the one-year yuan deposit rate will
fall to 2.25 percent from 2.52 percent.
Massive rates cut a surprise to all (Nov-27-2008 China Daily)
The central bank yesterday cut the benchmark interest rate by 1.08 percentage points, the highest in 11 years, to stimulate the
economy battered by the global financial and other economic woes. It also cut the proportion of money six big commercial banks
have to hold as reserve by 1 percentage point to 16 percent.
China to increase tax rebate for light industry (Nov-17-2008 China Daily)
China's Ministry of Finance announced on Monday a list of 3,770 items involved in the third export tax rebate increase this year.
The items include labor-intensive, mechanical and electrical products. New export tax rebate rates on these items were also announced.
The changes take effect December 1.
China cuts rates again to spur growth (Oct-30-2008 China Daily)
The central bank has cut interest rates for a second time in less than three weeks to bolster economic growth in the face of
a worsening global financial crisis. The benchmark one-year lending rate dropped to 6.66 percent from 6.93 percent, while
the one-year deposit rate was lowered to 3.60 percent from 3.87 percent..
China to raise export tax rebates again (Oct-21-2008 Ministry of Finance, MOF)
China is raising tax rebates for certain exports to help producers cope with smaller profit margins as a result of slacking
market demand, the yuan's appreciation and rising production costs. Those rebates will start November 1. The adjustment
involves 3,486 items from labor intensive industries such as textile, garment, etc.
China cuts rates to ward off slowdown (Oct-9-2008 CHINA DAILY)
China's central bank announced on Wednesday the decline of reserve requirement ratio by 0.5 percentage points from October 15,
and the decrease of interest rate by 0.27 percentage points from Friday, a move to boost domestic economy amid worries
over global financial crisis.
Cuts to benefit SMEs (Sept-17-2008 CHINA DAILY)
The People's Bank of China on Monday announced a 27-basis-point cut to the commercial banks' benchmark lending rate from
yesterday. The deposit rate will remain unchanged. It was the first time the central bank has cut the benchmark lending rate
since February 2002.
Gum rosin's tax-drawback is cut from current 5% (Jul-30-2008 MOC & SAT)
According to Ministry of Finance and State Administration of Taxation, China is to raise tax rebates for certain textile and
garment exports to help producers. However, export rebates for certain products, including gum rosin, pesticides, medicine,
silver, paint, zinc and battery would be scrapped from August 2008.
China raises interest rate for 6th time (Dec-20-2007 www.gov.cn)
China will raise the one-year deposit interest rate by 27 basis points to 4.14 percent and the lending rate
by 18 basis points to 7.47 percent as of Dec. 21, the central bank said Thursday.
5th interest rate hike to drain excessive liquidity (Sep-15-2007 CHINA DAILY)
China's central bank raised interest rates for the fifth time this year on Friday in an apparent bid to rein in rising food prices,
excessive bank lending, and prevent bubbles in the heated property and stock markets from growing. The central bank raised the one-year
benchmark deposit rate by 27 basis points to 3.87 percent and the one-year lending rate by the same amount to 7.29 percent,
effective from September 15, said a statement on the bank's website.
China raises interest rates 4th time in 2007 (Aug-21-2007 CHINA DAILY)
China's central bank raised the benchmark interest rates on Tuesday for the fourth time this year in an effort to prevent the economy
from overheating and curb accelerating inflation. The one-year deposit rate will increase 27 basis points to 3.60 percent, while
one-year lending rate will rise by 18 basis points to 7.02 percent, effective on Wednesday.
New restrictions on processing trade (Jul-25-2007 MOFCOM)
The Ministry of Commerce and China Customs co-released the No. 44 Notice of 2007, announcing a new list of restricted processing
trade products, mainly involving labor-intense industries such as plastic raw material and plastic processed products, yarn, textile,
and furniture. Altogether 1,853 tariff Nos were included in the list, accounting for 15% of all encoded customs products.
Yuan climbs to new record high against USD (Jul-25-2007 XINHUA)
China's currency, hit a new high against the U.S. dollar on Wednesday. The Renminbi (RMB) stood at 7.5596 yuan to the U.S. dollar,
up 129 basis points from Tuesday's 7.5725 yuan to one dollar. It is the 54th time that the yuan's value hit a record this year,
and also the highest rate since the yuan was revalued by 2.1 percent from 8.28 yuan in July 2005.
Supplement for reducing the tax rebates (Jul-20-2007 CHINATAX)
According to a new supplement circular from China State administration of taxation, the export tax rebates of tariff no. 2906
(cyclo-alcohols and relatives) is adjusted as 5% from Jul. 10, 2007.
Benchmark interest rate raised by 27 basis points (Jul-20-2007 XINHUA)
China will raise one-year deposit and loan interest rates by 27 basis points to 3.33 percent and 6.84 percent respectively as of
July 21, the central bank announced on Friday. This is the third time that China raised the one-year benchmark interest rates this
year.
ICC’s new rules on documentary credits take effect (Jul-1-2007 ICC)
ICC’s universally used rules on documentary credits, UCP 600, come into effect on 1 July 2007. There are new sections on
definitions and interpretations, replacement of the term “reasonable time” with a maximum of five banking days for examining
documents and re-drafted transport articles aimed at resolving confusion over the identification of carriers, masters and agents.
China to adjust export rebate policy (Jun-20-2007 XINHUA)
China's Ministry of Finance said Tuesday that, starting July 1, the country would cut or eliminate export tax rebates for 2,831
commodities representing 37 percent of the total number of items listed on customs tax regulations. It covers widely textiles,
chemicals, plastics, rubber, furniture, base metal, etc. widely.
The PBC raises the RMB benchmark interest rate again (May-18-2007 PBC)
The PBC decided to raise the benchmark interest rate for RMB lending and deposit, effective on May 19, 2007. The one-year
deposit rate was raised by 0.27 percentage points and the one-year lending rate was raised by 0.18 percentage points.
China to cancel the tax rebates of turpentine (Mar-20-2007 CHINATAX)
According to a circular from China Ministry of Finance & State Administration of Taxation, the export tax rebates of tariff no.
38051000, 38059090, 28332920, 28413000 & 28415000 will be cancelled from Apr. 1, 2007.
The PBC raises the benchmark interest rate (Mar-17-2007 PBC)
The PBC decided to raise the benchmark interest rate for Renminbi lending and deposit, effective on March 18, 2007. The benchmark
rate for one-year deposit was raised by 0.27 percentage points from the current level of 2.52 to 2.79 percent. The one-year
benchmark lending rate was raised by 0.27 percentage points from 6.12 to 6.39 percent.
Export/import tariff number adjustment (Dec-30-2006 CHINA CUSTOMS)
China Customs adjusts the tariff number from Jan. 1, 2007 mainly covering machinery & electrical equipments, chemicals, texitiles,
wooden products, base metal & alloy products. It's the biggest adjustment of current export/import tariff number in past 10 years.
