US Dollar Exchange Rates of 28th
June 2011
China Yuan 6.4642
Report from China
China to reduce import tariffs
Yao Jian, the spokesperson for the Ministry of Commerce,
indicated recently that China will further reduce import
tariffs, expanding the tariff reductions on medium and
high-end products.
Since the beginning of 2011 the growth of consumption in
China has slowed but, in general, the growth in retail sales
has been high over the past few years.
Domestic consumption will continue to be the driving
force for economic growth in the country and the move to
reduce tariffs is being undertaken to sustain domestic
consumption.
Yao Jian is reported as saying that the Ministry of
Commerce intends to undertake a reorganization of its
structure in be more effective in stimulating an expansion
of domestic consumption.
Panel mills in Linyi City establish outlets in the U.S
Wood-based panel production is labour intensive and
many mills in China have production capacity in Linyi,
Jiashan, Xuzhou and Pizhou to take advantage of available
labour.
Wood-based panel exporters are facing many challenges
including anti-dumping claims in several markets,
increasing prices for raw materials and labour costs are
rising quickly. Therefore, the profits of wood-based panel
enterprises are slipping and are now said to be only
between 3 and 5 percent.
In order to respond to this unfavorable situation many
wood-based panel companies in Linyi City, Shandong
province are extending their businesses to include overseas
distribution.
With the help of a local wood-based panel association, 10
enterprises in Linyi City have established a wholesale
market in the US to coordinate the sale various products in
the American market so as to maximise returns through
removing the agents and distributors and through
competitive pricing.
Yantai Penglai port in top ten timber import ports
China¡¯s top ten timber import port management companies
are:
Rizhao Group Co.,Ltd
Manzhouli Port
Shanghai International Port Business (Group) Co., Ltd
Suifenhe Port
Jiangsu Wanlin International Jingjiang Yingli Business
Co., Ltd
Tianjin Port (Group) Co.,Ltd
Taicang International Container Terminal Co., Ltd (TICT)
Changhsu Xinghua Port Co., Ltd
Zhangshou China Merchants Port Co., Ltd
Yantai Port Group Penglai Port Co., Ltd
Logs are one of the main items through Penglai Port on the
Shandong peninsula. Log imports through the port in 2010
totalled around 700,000 cubic metres, taking the port into
the list of major timber ports.
Penglai Port invested more than Yuan 5 million to build a
200,000 square metre timber trading market in 2005 as
well as a further Yuan 20 million to bring in log moving
equipment from New Zealand. The annual average growth
rate of the port¡¯s log throughput was over 90 percent for
the past 5 years.
Logs imports through Penglai Port are expected to exceed
800,000 cubic metres in 2011 and exceed 2 million cubic
metres during Twelfth Five Year Plan period.
Japanese furniture enterprises transfer production
Japan has been establishing furniture production
enterprises in China for more than ten years and this trend
is continuing due to the high cost of furniture
manufacturing in Japan.
The level of Chinese furniture production technology is
now high and Japanese enterprises are increasingly buying
Chinese made furniture for the Japanese market.
It has been reported that Japanese furniture enterprises
have recently established furniture production bases in
Dalian City, Shandong Province and Dongguan City,
Guangdong Province.
France a new trade partner for panel exporters inManzhouli
Recently, a batch of composite multi-plywood
manufactured by Manzhouli Baoda Wood Industry Co.
Ltd was exported to France after inspection by the
Manzhouli Entry-Exit Inspection and Quarantine Bureau.
France is a new export destination for wood-based panel
exports to Europe through Manzhouli Port. Other recent
European destinations include Germany and Italy.
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