China foreign trade

Organizer(s) Adsale Exhibition Services Ltd (and the China Foreign Trade Center)... 

That imports of coke have increased in the United States is mostly due to the high cost of transportation within the United States and the lower cost of shipping by foreign firms. It is cheaper to extract coal in China, coke it and ship it to California than to buy coke from U.S. producers and transport it within the United States. The trade in coke doesn t hurt the U.S. economy any more than the trade in jet aircrafts to China hurts China. Mutual trade is always beneficial to trading partners. 

Foreign trade in 1976 was weakened by the death of China s three leaders, Chairman Mao Tse-tung, Premier Chou En-lai and Chu De, father of the People s Liberation Army, and continuing low foreign trade statistics reflected the miseries of the Chinese people, who at that time brought about, and suffered from, serious production and transportation difficulties. These were incited, as the Chinese like to say, by the oppressions of the infamous "Gang of Four". 

People s Republic of China is not a major trading nation by international standards. The total trade of the United States is about 15 times that of China, and it was only in 1973 that the level of the mainland part of China s foreign trade surpassed that of Taiwan. Also, China s total international trade is a relatively low percentage of its gross national product—about six percent. Yet this is not surprising for a major country that has a massive population, a large domestic market and low per capita income. 

China is an increasingly competitive market. Out of China s total economic activity, only about six percent is devoted to foreign trade. To become part of that small percentage requires the utmost patience, tact and skill. 

Another development is that China National Technical Import Corporation (CNTIC), a unit under Ministry of Foreign Trade, is losing importance to CNCCC, which is under MCI. CNCC is responsible for purchasing and constructing chemical and petrochemical plants with MCI controlling the bulk of funds and the allocation of crude oil, which is used as feedstock. 

China has modernized its economy by opening up to foreign trade and investments, reducing bureaucracy, and fostering the education of skilled labor. 

Chinese exports in 1991 were US 72 billion imports were US 62 billion foreign exchange reserves (excluding gold) are currently US 43 billion (China-Britain Trade Group 1993). 

China s two-decade-plus economic boom has spurred the rapid demand for plastics. The Chinese plastics industry has entered a mature period. Since 1990, the country s plastics consumption has grown 20.1% annually. Chinese industry and agriculture will continue to fuel demand for plastics. The total market demand for plastics increased 10.8% in 2003 to 32.9 million tonnes (metric tons). In order to become less-dependent on plastics imports, China will continue to expand its production capacity in plastic resin quality and variety. Production advanced to 16.9 million tonnes in 2003 and is increasing by 11.3% annually. The foreign trade in plastics will be reinforced in the 21st century. Plastics imports and exports advanced to 16.5 million tonnes and 0.5 million tonnes, respectively, in 2003. 

Documentation prepared for the Chinese customs by importers includes an invoice, a sales contract, a bill of lading, a shipping list, an insurance policy, an inspection certificate and a customs declaration form. For the import items that require a licence or a quota certificate, importers must apply to the Ministry of Foreign Trade. The Letter of Credit is a standard payment method used by Chinese importers for international transactions. The Bank of China has branches in major countries and can issue letters of credit for Chinese importers. The China Import and Export Bank finances foreign trade and has adopted international ISO standards. 

The foremost nonprofits trade promotion organization in the Republic of China on Taiwan (ROC), founded in 1970 to help promote foreign trade, is jointly sponsored by the government and industrial as well as commercial associations. It offers for a fee to registered users a database of Taiwan importers and exporters, searchable by company, product and... 

American traders who have been visiting China since the Chinese opened the door to the US continue to meet their share of frustrations. The Chinese are only now allowing foreigners to deal with end-users of the products, but trade continues to be conducted "Chinese style"—that is, the Chinese reluctantly enter into long-term contracts—but there is still an absence of a conventional legal system in which to conduct trade. 

The liberalization of trade in China has facilitated negotiation and sales for foreign companies, leading to increases in sales volume. 

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