US Dollar Exchange Rates of 31th March 2009
China Yuan 6.8366
Report from China
China announces measures to stimulate wood products trade
Orders to China¡¯s enterprises for wood products exports
have been falling, as they struggle to raise revenues during
the international financial crisis. The growth in total value
of international trade in wood products grew only 9.6% in
2008, a year-on-year decrease of 13 percentage points. To
respond to the effects of the international financial crisis
and encourage wood products trade, China has taken the
following measures: increasing the rates of the export
rebate tax for 117 wood products items; actively
negotiating with governments of importing
countries/regions such as the US, the EU and Japan to
improve market access for forest products; and
encouraging a quick response to products manufactured by
domestic forestry enterprises, increasing grades and
specifications of products, as well as stabilizing wood
products exports.
Log imports through Rizhao Port rank first in Shandong Province
According to statistics from Rizhao Customs, log imports
through Rizhao Port (including Lanshangang) during
January to February 2009 were 126,000 m³ valued at
USD13.33 million, 7.7 times the volume and 9 times the
value of that in the same period of 2007. Log imports
through Rizhao Port ranked first in Shangdong Province.
Logs through Rizhao Port are mainly imported from New
Zealand and Russia. The main timber species are radiata
pine and white pine.
According to local experts, major log consumer countries
such as the US and Japan have reduced log imports,
resulting in overstocking in export countries. Prices for
imported logs have shown an obvious decreasing trend.
Timber traders find Rizhao Port an attractive destination
for log imports due to its advantageous location,
convenient transportation and customs clearance
environment, and better loading and unloading equipment.
Additionally, more than 10,000 m³ per month of timber
can be processed at the Lanshan timber processing trade
demonstration zone, which was established in 2008. As a
result, Lanshan continues its demand for timber, helping to
boost imports though Lanshangang and Rizhao Ports.
Guangdong furniture enterprises generate USD10.2 billion in 2008
The total output value of the Guangdong forestry industry
in 2008 totaled RMB140.4 billion yuan. The total value of
Guangdong foreign trade amounted to USD15.754 billion.
Of the total, the value of exports was USD10.227 billion
and the value of imports was USD5.527 billion. According
to official statistics, there are 20,000 factories and 2
million employees engaged in timber processing in
Guangdong. There are 6,000 furniture enterprises with
RMB5 million yuan of annual sales revenue. The total
output value of wooden and bamboo furniture from
Guangdong exceeded RMB100 billion yuan in 2008,
making up 30% of the national total.
According to the statistics from Gongbei Customs, the
value of furniture exports through Guangdong Port rose
24% to USD800 million when comparing monthly figures
from January 2009 to February 2009. The US was still the
largest destination market for Guangdong furniture and the
value of furniture exports to the US grew 11% to USD370
million, making up 46% of Guangdong¡¯s total exports. In
addition, the value of furniture exports to Hong Kong
increased 29% (USD180 million), and jumped 49% to the
EU (USD130 million).
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