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US
Dollar Exchange Rates of 29th April. 2008
China Yuan
6.985
Report from China
China issues updated Catalogue of Prohibited
Products
On 4 April 2008, the Ministry of Commerce and General
Administration of Customs issued the updated Catalogue
of Prohibited Products in the Processing Trade for 2008
(Circular No. 22/2008). The updated catalogue lists
prohibited products to control high polluting commodities
for export, mitigate risks to the environment and promote
transformation of the processing trade. The Catalogue
covers a total of 1816 ten-digit customs tariff codes. Of the
total, 606 forest products are included, adding 183 forest
products from 2007 and making up 33% of the total
prohibited products. Processing trade contracts involving
newly prohibited products approved before 5 May 2008
may be filed with customs according to relevant
regulations and completed within the contract validity
period. Enterprises under online monitoring can complete
their contracts by 5 April 2009.
Fujian introduces international timber e-trading market
The first third-party online e-business platform for the
national timber industry was recently established in Putian
City of Fujian Province and has formally been opened to
traders. The platform was set up in Putian State Level
Timber Trading and Processing Demonstration Zone. A
sum of 120 million yuan was invested by Zongtong
Timber Electronic Trading Co., Ltd to establish the
platform which covers information on trading and
logistical information. The traders can make online
transactions by gaining information on merchandise on
hand, orders, bidding processes and auctions. The platform
has the function of making orders through global internet
videos, electronic businesses and credit guarantees.
Sunlight Technology Co. (HK) invests USD180 million
in plantations
Sunlight Technology (HK) Co., Ltd has invested USD180
million to establish a 400,000 mu (where 1 hectare equals
to 15 mu) fast growing and high yield plantation and start
a 400,000 m3 high density fiberboard processing project in
Tongnan County of Chongqing City. According to
planning, 10,000 mu of a demonstration site will be built
in 2008 and 50,000 mu of plantation by 2009. The project
will be complete within 8 years. According to planning,
the fiberboard project will be initiated in 2008.
Shandong Port gains first quarter increase in plywood
exports
According to statistics from Qingdao Customs, plywood
exports through Shandong Port during the first quarter of
2008 were 600,000 m3 or USD 210 million in value, up
20%. The average price for exported plywood was
USD356 per m3, up 16% from the same period in 2007.
The main export markets were the US, the European
Union and ASEAN member countries. The US was the
largest market for plywood exports through Shandong
Port. Plywood exports through Shandong Port to the US
were 160,000 m3, down 7% from the same period in 2007;
to the EU 156,000 m3, up 0.5%; to ASEAN countries
72,000 m3, down 8%. Plywood exports to the above
regions totalled 388,000 m3, accounting for 65% of
Shandong¡¯s total.
In the first quarter of 2008 plywood exports from private
enterprises rose 17% to 447,000 m3, representing 70% of
all plywood exports. Plywood exports of state-owned
enterprises fell 40% to 87,000 m3. Plywood exports of
foreign capital enterprises grew 38% to 60,000 m3.
China has been experiencing difficulty in the development
of its plywood industry due to supply and demand
imbalances. Supply exceeds demand in the domestic
plywood market due to output capacity expansion and
China¡¯s strengthening control on the real estate market. In
the meantime, plywood exports are slowing as export
refund rates decrease, the yuan appreciates and foreign
anti-dumping measures continue to be enforced.
Furthermore, profits have been reduced greatly due to
increases in oil and adhesive prices.
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