US Dollar Exchange Rates of 28th November 2009
China Yuan 6.8284
Report from China
Forest industry revitalization
Five departments including the State Administration of
Forestry, the National Development and Reform
Commission, the Ministry of Finance, the Ministry of
Commerce and the State Taxation Administration recently
released their plan for the revitalization of the forest
industry 2010-2012. This will serve as the foundation for
an action plan to support the industry through the current
global economic crisis.
The plan aims to raise the output value of the sector and to
maintain growth of around 12% annually. This it will aim
to achieve in 3 years by focusing on support for 100
national leading enterprises and 10 large wood industry
clusters
.
The output value of the forest industry is set to increase
from RMB1.44 trillion in 2008 to RMB2.26 trillion in
2012. The planned output of the wood-based panel sector
will be around 100 million m3. The total value of wood
products trade is expected to be over US$90 billion of
which US$50 billion would be for export.
Export products such as wood-based panes, wood flooring,
furniture, wooden doors will be given priority. To meet
these targets timber imports are forecast to be over 60
million cu.m (log equivalent). The number of employees
in wood processing sectors is set to increase to 57 million
from the current 45 million.
Log price down
According to statistics from Tianjin Customs, during
January to October log imports through Tianjin Port
jumped almost ten fold to 221,000 cu.m valued at
US$26.36 million but the average price for logs fell 54
percent to US$119 per cubic metre. The logs were mainly
imported from New Zealand, (114,000 cu.m or 52%). The
main importers are private enterprises which accounted for
around 127,000 cu.m.
Hebei furniture exports up
In October the value of furniture exports from Hebei
Province rose 7 percent to almost US$19 million, being
the highest monthly figure since the beginning of 2009.
During January to October furniture exports fell 15
percent to US$140 million.
The European Union and the USA are the largest markets
for Hebei furniture. Furniture exports to the EU grew 11
percent to US$65 million for the year to date. However,
furniture exports to the USA fell 34 percent. The value of
exports to the two main markets (EU and USA) accounted
for 70 percent of the total. Exports to Asian markets had
mixed fortunes. The value of furniture exports to Japan
rose 22 percent while exports to South Korea fell 25
percent.
Local experts suggest that China¡¯s furniture exportoriented
enterprise should diversify their markets
especially as the EU and US markets are becoming very
demanding and it is both costly and difficult to meet the
requirements in these markets.
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