BUSINESS OPP AND TRADE IN CHINA

Companies, both local and foreign are itching their way into Chinese markets, either looking for business opportunities or to expand their business operation in China since its winning of the Olympic bids for 2008, World Expo 2010 and accession to the WTO,

China has been the fastest-growing nation for the past quarter of a century with an average annual GDP growth rate in excess of 10%. Per capita income has grown at an average annual rate of more than 8% over the last three decades. China saw its export and import volume in service trade (excluding government service) stood at US$ 250.91 billion in 2007,an increase of over 30% from the previous year as according to its the Ministry of Commerce (MOC) report in June 2008.

China as the second largest economy in the world after the US, with a GDP of over US$7 trillion (2007) when measured on a purchasing power parity (PPP) basis. In November 2007, it became the third largest in the world after the US and Japan with a nominal GDP of US$3.42 trillion in 2007 when measured in foreign exchange-rate terms.

China is the world's largest producer of rice and is among the principal sources of corn (maize), wheat, soybeans, peanuts (groundnuts), cotton and tobacco. China is one of the world's largest producers of several industrial and mineral products, including tungsten, antimony and cotton cloth, cotton yarn, crude oil, coal and other products.

China's mineral resources are probably among the richest in the world but are only partially developed. China has acquired some highly sophisticated production facilities through trade and also has built several advanced engineering plants capable of manufacturing an increasing range of sophisticated defense and power technologies.

In 2007, the European Union was still China's largest trading partner, and Japan its third largest. China's Trade with the European Union rose 27% year-on-year to US$356.15 billion while Japan reached over US$236.02 billion, up 13.9 percent. Trade between Russia and China increased 44%, year-on-year, in 2007 to US$48.2 billion.Further readings on SearchAnythingEurope.com and SearchAnythingRussia.com

China-US Trade, which totaled only US$5 billion in 1980, rose to $387 billion in 2007. China overtook Japan to become the third largest U.S. export market, and overtook Canada to become the largest source of U.S. imports.Further news can be found on SearchAnythingAmerica.com.com

Trade volume between China and ASEAN (the Association of Southeast Asian Nations) hit US$202.6 billion in 2007, up 25.9 percent year-on-year, as announced by the China-ASEAN Business Council.Further news can be found on SearchAnythingAsia.com.com

Since its adoption of the "Four Modernizations" - agriculture, industry, science and technology, and defence, just a generation ago, China's share of world economic output has grown from 3.4 per cent to almost 12 per cent by 2000. China's booming economy has been hailed as a true economic miracle by many.

China provides huge investment opportunity for many producers of commodities and companies or investors who wish to find a way to place their money into a rich market. On average, China's economy grows by 10% annually. There continues to be encouraging demand for investment and business growth in China for the next decade.

courtesy:Paul Hata

Comments

Post a Comment

Popular posts from this blog

OVERVIEW OF THE FOREIGN EXCHANGE

The foreign exchange market is a platform where the currency of one country could be converted in to that of another country. The exchange rate determines the ratio at which one currency is converted into another currency. The foreign exchange market is one of the most dynamic forces in international business and enables investors to undertake foreign investments worldwide. Without it, international trade and investment on the magnitude we experience today would not be possible. Many international traders use the foreign exchange market to invest for short terms in money markets. Currency speculation is the short-term exchange of funds from one currency to another in anticipation of movements in exchange rates. The rate of return it earns on this investment depends not only on the specific country's interest rate, but also the changes in the value of the concerned currencies in the intervening period. Operating in the foreign exchange market is an ongoing challenge for the Entrepre
Read more

RUNNING A RESTAURANT KITCHEN

Dishwasher: It's hard to relish a simply heavenly gourmet meal in an invidiously stained platter or worse, with dirty forks and spoons. The purely physical job of washing dishes is really thankless, but it's also the most important one in the kitchen. Motivation is the key while dealing with the staff involved in this clearly unattractive task. Most chefs have, in fact, made it big from the washing area. Speedy promotions can make all the difference in the employer's attitude. Preparation cooks: The foundation of the kitchen is based on the manner in which the food is prepared. So the people that are involved in this spade work require more than a standing ovation. From chopping cabbage to making soups and kneading dough, they are always in the thick of things. Make sure they have thorough knowledge of everything, from the store to the operation of the grill and fryer. Line cooks: They get into the act at different cooking stations that use a plethora of cooking techniqu
Read more

TIPS FOR GROWING YOUR BUSINESSES

Here are some of the practical ways that you can help your small business 1) Hire Great Employees When you look for business partners, managers, or any other employee that will have a significant impact on your business, make sure that you find really good ones. If the potential employees aren't perfect than don't hire them. It is much easier to turn down one employee, and hire a new one, than it is to fire one, and then hire a new one. 2) Become a Great Leader In Good to Great they describe something called a level 5 leader. Essentially a level 5 leader is a person who has high will power, and humility. The other characteristic of a "level 5 leader" is that they have a great care for the companies success. They are highly ambitious people, however, there ambition is mainly used for the companies success. In every "Great" Company, there was a "level 5 leader" at the top. If you are the owner of the business, a manager, or otherwise important employ
Read more