A Rapid-growing Foreign-oriented Economy in Rugao

Rugao in Jiangsu Province has sped up its development of foreignfunded enterprises by taking advantage of the ancient city, the Yangtze River and the East Sea, through domestic unity and the introduction of foreign capital, with an open economy as the starting point, and foreign cooperation promoting the     

Supervision Legislation for Foreign Capital Financial Institutions Starting up

Supervision over foreign capital banks should reflect the new concept of equalattention paid to the fully open up and prudent supervision. China Banking Regulatory Commission (CBRC) held "2005National Meeting of Regulating Foreign Capital Banks" from April 7 to 8 in Shenzhen. There were 19leaders from local Banking Regulatory Bureaus, who deal with foreign capital regulating business, attended the meeting.At the meeting, Shi Jiliang, Vice-President of CBRC, said that CBRC is going to set up a trans-department statute cleaning up group, and start the revision of"Administrating Statutes for Foreign Capital Financial Institutions" and "Detailed Rules and Regulations in Implementing".     

Handling the Relationship Between Expanding the Open Policy,Using Foreign Capital,and Protecting Domestic Industry and Markets

It has been our consistent policy to expand the opening policy, while using foreign capital reasonably and effectively. Our experience of economic development since China's economic reform and opening to the outside world 20 years ago has shown that implementing the opening policy, participation in the international division of labour and exchange, the use of both domestic and international markets and resources, and the introduction of a foreign market     

Opportunities for A Low Carbon Future-- China＇s Clean Revolution II

Despite economic downturn, China＇s domestic markets continue to scale up low carbon technology. A new report that was released in Beijing in August by the Climate Group shows that in an incredibly short time China has taken the lead in the race to develop and commercialize a range of low carbon technologies. On the back of ambitious government policies and a new breed of entrepreneurs, Chinese businesses are amongst the top producers of electric vehicles, wind turbines, solar panels and energy efficient appliances. Even with this growth, the opportunities for Chinese and foreign companies are huge. A successful agreement in Copenhagen later this year will open the door to further collaboration and growth.     

China to Be Ranked 3rd in Global Trade

According to the report on China's foreign trade released by Ministry of Commerce on November 12 that the total volume of China's imports and exports this year will reach around US$1.1 trillion, up 30% for the first time. It is expected to rank the 3rd in global trade.The report says that under the favorable domestic and international economic environment, China's foreign trade will     

Huangshan, Approach to Internationalization --Interview with Wang Fuhong, NPC Member and Party Secretary of Huangshan City

In his government work report, Premier Wen Jiabao brought up the ＂24 words＂ principle this year, in which ＂expanding domestic demand and increasing capital growth＂ is an important one. Premier Wen pointed out that we should give full play to the domestic demand, especially the consumption demand a leading role in the economic growth. Secretary Wang Fuhong said in this interview that in order to exert all the positive influence of consumer demand on economic growth,     

China's Nuclear Industry Facing the World

China's nuclear industry has leapt to a new stage in the scientific research and peaceful utilization of nuclear technology since the second boom of its transition from military to civil use in 1980s. Much work has been done through international cooperation, the importation of foreign technology, equipment and capital, and in the opening up of the international market.     

Chinese coal consumption reaches around 1.28 billion tons

The " Analytical report on the prosperity of Chinese industry " made recently points out that the Chinese coal industry continues to go well this year, and that its market continues to be prosperous both in buying and selling. The report predicts that the domestic consumption of coal will be around 1.28 billion tons for the whole year. According to the analysis, thermal power generation will continue to keep steady growth this year, and the demand for the coal     

About CCPIT

Established in May 1952, China Council for the Promotion ofInternational Trade (CCPIT) is the most important and the largestinstitution for the promotion of foreign trade in China. CCPIT aims at promoting foreign trade of China, helping to introduceforeign investment and advanced foreign technologies, enhancing Sino-foreign economic and technological cooperation in various ways, settingup much closer economic and trade relations between China and other     

China Enhances Financial Support for Major Foreign-Funded Enterprises

The Circular on Implementing the Requirements of the State Council and Extending Financial Support to Major Foreign-Funded Enterprises was jointly released by the Ministry of Commerce and the Banking and Insurance Regulatory Commission,in order to enhance financial support for major foreign-funded enterprises.The circular emphasizes that both domestic and foreign enterprises are subject to a unified set of rules,and ensures that foreign-funded enterprises are also eligible for a re-lending and re-discount quota of RMB 1.5 trillion.Foreign-funded enterprises in the key link of the manufacturing industry or those in the business service sector having operation difficulties will be the focus the support program.     

ANHUI PROVINCIAL PEOPLE'S GOVERNMENT DECIDES TO SPEED UP THE USE OF FOREIGN CAPITAL

On February 12,the Anhui ProvincialPeople's Government made a decisionon the speeding up of the use of foreigncapital.The decision involved the followingseven aspects: 1.To seize the opportunity to reviseideology and to open up a new situation formaking use of foreign capital.The decisionurges the various localities to seize the righttime to shift their focus to making good useof their own advantages,and improving thelocal investment climate and the quality ofservice in the light of their actual conditionsso as to absorb more foreign funds.Meanwhile,enterprises must be led to face the marketand to join equal competition so as to pushforward the use of foreign funds to a new     

Qinghai's Strategy For Foreign Economic and Trade Development

Qinghai Province in northwest China has recently drawn up its strategy for foreign economic and trade development. The highlights include optimizing its investment climate, developing channels for introducing foreign capital and making good use of foreign funds, the development of natural resources and the reform of its medium-to-large enterprises to improve and benefit the development of its poverty-striken     

Lin Zhongjie On Commercial Insurance Companies

China's insurance industry has gradually picked up the pace to open the domestic insurance market along with the deepening reform of its insurance system. In addition to a few domestic insurance companies, some foreign insurance companies given approval to handle insurance business in China have also joined the market. In the face of the serious situation, how and what should China's insurance industry do? To this     

Coca-Cola＇s Acquisition Over Huiyuan Juice

China＇s Anti-Monopoly Law, the foundation stone of the market economy, started to be implemented since August 1st 2008. After half a year of investigation, Coca Cola＇s acquisition of Huiyuan Juice was put to a stop by Ministry of Commerce on March 18th 2009. It became the first abortive case since the implementation of the Anti-Monopoly Law and caused strong repercussions home and abroad. While the nationalists applauded for the decision, overseas media generally took a skeptical attitude, considering it as a case of trade protectionism. This phenomenon requires a rational interpretation and guidance for the domestic and international media. On the one hand, acquisition by foreign capital may bring advanced technology and management experience and promote economic development; on the other hand, it may lead to the monopoly of relevant market, hamper competition and cause some domestic brands to disappear. We should look at Coca Cola＇s acquisition of Huiyuan Juice from two aspects. There are both advantages and disadvantages in acquisition. Anti-monopoly law enforcement agency should not only pay attention to the damage to competition brought about by acquisition, but also to its positive role in promoting economic development. It should balance the pros and cons so that it can reach a rational conclusion and maintain the authority of law. Chinese society is better to take a balanced attitude to acquisition by foreign capital, and prevent nationalism to go spread unchecked. At the meantime, the international media should not overreact to this case, which could become the excuse for other countries to practice trade protectionism. The Chinese government simply made a misleading yet not wrong decision at a wrong place in a wrong time.     

Foreign Exchange Rate Reform

China must expand opening up and develop foreign trade and economic cooperation to make the Chinese and international economies complementary and speed up the modernization drive. The most basic needs are to intensify restructuring of the foreign trade system, set up rules and regulations in line with the international     

Managing Abundance to Avoid A Bust in Latin America

Latin American (LA) economies today are at a challenging juncture as key global conditions have aligned in very exceptional ways, representing a double tailwind for many countries of the region.These countries must figure out how to best respond to a sustained period of unusually easy foreign financing conditions and large capital inflows.At the same time, they face high world prices for their commodity exports, another source of abundance that is likely to be persistent but not permanent.Such conditions are, of course, in many ways favorable, creating opportunities with important upsides.But such conditions can also lead to an accumulation of important vulnerabilities for the future.There are challenges both while these conditions persist and during the transition after they end because severe dislocations and crises may arise if the good times are improperly managed.Indeed, some of Latin America's own past experiences with the "problems of plenty" have illustrated that good times can be followed by bad endings.     

Canton Fair： where business is being done

In order to help export-oriented enterprises tackle the financial crisis and explore domestic sales market potential, the Ministry of .Commerce has recently issued a notice that the 106th Canton Fair will continue its work of promoting domestic and foreign trade, not only by holding domestic sales promotion meetings but also by setting up ＂Domestic Purchasing Centers＂ in which paid booths will be offered to domestic buyers.     

Reform of and Improvements to China's Foreign Trade System

Before China adopted the reform and opening up policy in 1978,its foreign trade was governed by mandatory planning,and the state absorbed both the profits and the losses of enterprises.Since the reform and opening up policy was initiated,China's foreign trade system has completed the transformation from mandatory planning to giving full play to the fundamental role of the market-from state monopoly to full openness,and from indiscriminate egalitarianism to giving enterprises discretionary management power and making them responsible for their own profits and losses.During the negotiations over the restoration of its GATT (General Agreement on Tariffs and Trade) membership and entry into the WTO,and after it became a WTO member,China gradually adopted international trade practices,and established a unified,open foreign trade system compatible with multilateral trade rules.     

The Wolf Is Coming?——Multinationals s Entry and Effect on China s Manufacturing Industry

Nowadays,China has become the country that introduces the largest amount of foreign capital.Up to June 2008,the accumulative total number of foreign- invested enterprises in China is over 632 thousand:the total amount of actual use of foreign capital is over US$582 billion.There are over 400 multination- als of top 500 investing in China,30 of which set up regional headquarters,and     

China's Foreign Trade Got Good Performance

At present,due to the severe global COVID-19 pandemic,changes that used to take a century to happen have sped up,while the global environment is becoming more complex and uncertain.In 2021,China’s foreign trade had good performance.According to the data from the General Administration of Customs,in 2021 China’s foreign trade,both imports and exports grew quickly,topping USD 5 trillion and USD 6 trillion in one year,and reaching a new record high.Meanwhile,the quality of China’s foreign trade was improving steadily,making a good start for the foreign trade industry during the 14th Five-Year Plan period.