Month: December 2020

(Xinhua)15:02, November 30, 2020

NANNING, Nov. 30 (Xinhua) — This years China-ASEAN Expo (CAEXPO) has witnessed an increasing number of companies in the region striving to expand their footprints in the Chinese market against the backdrop of the COVID-19 pandemic.

Meanwhile, they are also invigorating the regions digital economy through cross-border e-commerce, including live streaming sales, online shops and sub-applications on mobile devices.

It has been seven years since Kaldu Sari Nabati Indonesia entered the Chinese market, yet it was the Indonesian snacks and beverages manufacturers first time to participate in the CAEXPO, with the hope to make a difference online.

It is actually beyond my expectation. All the visitors have gone through COVID-19 test. And I did not expect that so many people attend this expo. Well, you can see the crowd now. And we are nearly out of stock currently, said Kalina Wong, an online distributor for Nabati, adding that they got a new interested party that wants to be our retailer on the second day of the expo.

During the four-day CAEXPO, Nabati has planned to do live streaming every day on major Chinese e-commerce platforms, including Alibaba-backed Taobao, Pinduoduo and JD. com, as well as sensational video-sharing social networking service Douyin.

Indeed, Chinas live streaming market is a trend now. Because of the pandemic, clients like to use live streaming to purchase, Wong said. On Nov. 27, the first day of the expo, the company managed to gain up to 1,000 orders through live streaming.

China is a good potential market actually … I gained a lot of business opportunities through this expo. Our retail has been very well. Our online (sale) is also doing very well through the China expo. We wish to attend the next China-ASEAN Expo next year, she noted.

No doubt China is the best country in the world in containing COVID-19 and I can see the economy grows very, very fast. So Im actually confident to build up our market share in China, Wong added.

It was Loh Wee Kengs third time to come to the CAEXPO as an exhibitor for Regal Mart International Sdn. Bhd, a Malaysian company that imports and exports foodstuffs.

The general manager of the company called the expo a very good platform for us to come into the Chinese market and a very good window for us to promote our products, because major expos like the CAEXPO and China International Import Expo show the world that how China can attract all the big players in the world to come to China. And we can distribute our products through China to other countries.

Loh also mentioned this year, they have invited an KOL (Key Opinion Leader) to enrich the companys promotion, as they noticed an array of live streaming sales activities for the past few months in China. So we can see for the next five years, online business will be booming.

He noted that the Chinese government has emphasized that in the future China will concentrate more on digital economy and how to utilize e-commerce platforms.

I think this is a very good indicator for us businessmen to follow the countrys policy, and we will focus on e-commerce. This is the development for the future, he said.

In this aspect, Zeng Jinsong, vice president of the Bangkok-based Charoen Pokphand Group, also noted that with much resource devoted, China has been a major player in developing digital economy in the global arena.

He then expressed optimism about a bright prospect for digital economy in not only China, but also the whole Asia, thanks to the signing of the landmark Regional Comprehensive Economic Partnership (RCEP), which includes the 10-member ASEAN, and other five signatories including China, Japan, South Korea, Australia and New Zealand.

The entrepreneur also hailed the CAEXPO as a key platform that brings more and more opportunities for cooperation and communication, and allows various enterprises, big or small, to establish partnership in the region.

For start-ups like BebeBalm, a Philippine skincare products manufacturer, both offline exhibitions and online applications are effective ways to seek out a niche market in China.

Founded in 2018, BebeBalm first came into public sight in bazaars in Shanghai, where it gained a crowd of customers, many being foreigners and expatriates in China.

Apart from offline promotion activities, Carol Ong, the founder of the company, also set up an online selling channel on Mini Program, a sub-application built within Chinas social networking giant Wechat, to solicit more business opportunities.

Yet owing to COVID-19, the CAEXPO was the firms first on-site exhibition this year and it was also the first time BebeBalm got involved in a multiple-nation event.

What were trying to do right now is hopefully with this expo, we can reach out more to the Chinese market, Ong said, adding that they were looking for Chinese sellers to help them, but has also obtained commercial contacts from other countries in the expo.

I came here with the intent of really talking to more China sellers. And then its a bonus that there are businessmen from other countries as far as Dubai, Egypt and Africa, who are interested in our products, the female entrepreneur noted.

Yesterday some people bought our products. And they already came back today, she said. What I like about it (the CAEXPO) is that the people (here) are very receptive. And our department of trade said this is a good test market, because if people like it (the brand) here, customers in different parts of China also likely like it.

Ong said they now focus more on online selling through WeChat Mini Program in the post-pandemic era in China and would like to attend the CAEXPO next year. I would say for us its a beneficial way to explore the Chinese market after the pandemic, because were so small right now, and would like to go to all these different channels.

(Xinhua)10:21, November 27, 2020

HANGZHOU, Nov. 26 (Xinhua) — A new China-Europe freight train route linking the city of Jinhua in east Chinas Zhejiang Province to Dourges in France was launched Thursday.

This is Jinhuas first freight train route to France, with the number of China-Europe freight train routes from the city totaling 14.

The first train on the route left Jinhua at around 9 a.m. Thursday, carrying about 3.1 million U.S. dollars worth of cargo including construction machinery and epidemic prevention materials.

Traveling about 11,000 km, the train will pass through Kazakhstan, Russia, Germany and other countries and is expected to arrive in Dourges in 18 days.

The cargo on the train will be distributed to France, Spain, Italy, Poland and other countries from an intercontinental logistics center in Dourges.

As of Thursday, Jinhua had launched 368 China-Europe freight trains carrying 30,378 twenty-foot equivalent units (TEUs) of cargo this year, up 368 percent year on year.

(Xinhua)14:30, November 27, 2020

BEIJING, Nov. 27 (Xinhua) — Profits of Chinas major industrial firms totaled 642.91 billion yuan (about 97.77 billion U.S. dollars) in October, increasing by 28.2 percent year on year, data from the National Bureau of Statistics (NBS) showed Friday.

The pace of growth quickened 18.1 percentage points from September.

In the first 10 months of the year, the profits of major industrial firms expanded 0.7 percent year on year to 5.01 trillion yuan, reversing the 2.4-percent decline in the January-September period.

Specifically, profits of state-controlled industrial firms dropped 7.5 percent from one year earlier to 1.29 trillion yuan, while industrial firms in the private sector saw their profits grow 1.1 percent year on year to 1.48 trillion yuan.

During the first 10 months, profits of the special equipment manufacturing industry saw notable growth of 22.9 percent, with growth also recorded in industries such as agricultural by-product processing, electronic manufacturing, textiles and auto manufacturing. The oil and natural gas extraction industry saw its profits slump 68.5 percent year on year.

Profits in 25 of the 41 surveyed industrial sectors rose from the same period last year, while 16 sectors saw their profits fall, according to the NBS.

Major industrial companies refer to those with an annual business turnover of at least 20 million yuan.

(China Daily)15:27, November 27, 2020

While hunkering down in their homes amid the COVID-19 pandemic, consumers worldwide are increasingly turning to cross-border online shopping for Chinese goods.

Such enthusiasm has been most conspicuous on Chinas AliExpress, the business-to-consumer site selling extensively to some 200 overseas markets. This has been remarkable given that the contagion has partially slowed, if not thwarted, transnational logistics.

AliExpress said the number of merchants who participated in this years Nov 11 online shopping extravaganza rose by 30 percent and the number of items grew by 60 percent year-on-year, though it didnt provide detailed figures. Nearly 2,000 Chinese merchants crossed last years 24-hour sales volume in less than an hour this year.

Key markets like Spain and France needed just half a day to surpass gross merchandise volume achieved in the 48 hours for last years event, according to company data. The international version of the shopping gala normally takes two whole days given the time differences worldwide.

Spain saw gross merchandise volume jump 60 percent compared with the same time last year, with electronics ranging from Chinese-made phones to TV sets topping the shopping carts. France saw gardening tools and home appliances gain the most attention, with the growth of transaction volume and the number of orders both surpassing 100 percent year-on-year.

Brazil was one major beneficiary of a cross-border logistics initiative by AliExpress and sister company Cainiao锛峚 smart logistics network also under the Alibaba umbrella. Joint chartered flights by the pair ensured four direct flights from China to Brazil, halving the average delivery time from two months, with three quarters of all parcels reaching their destinations within 30 days.

Impeccable delivery is also guaranteed thanks to bonded warehouses established across five nations from Belgium to Spain that are able to cover European Union member nations. Local transportation typically takes on average three days, while intracontinental delivery is achieved within a week.

The speediest cross-border delivery occurred in South Korea, with less than 48 hours delivery from a warehouse in Weihai, Shandong province.

Commercial activity was also kicked up a notch thanks to the growing popularity among global audiences of livestreaming, where merchants speak in real time to promote their products and give out limited-duration coupons to entice prospective buyers.

The practice, which originated in China, is picking up steam elsewhere. AliExpress said the platform has hosted nearly 10,000 livestreaming sessions with accumulated viewers topping 8 million, jumping tenfold compared with last year.

In an effort to boost sales, AliExpress also unveiled a real time livestreaming translation feature to allow merchants and livestreamers to tap into international business opportunities. The new feature currently supports simultaneous translation from Chinese to English, Russian, Spanish and French.

We will continue to provide a Chinese-style online shopping experience to hundreds of millions of users around the world through technological innovation, deep consumer insights and logistics infrastructure development, and help small and medium-sized businesses and consumers overcome the challenges posed by the pandemic, said AliExpress General Manager Wang Mingqiang.

(Xinhua)17:12, November 27, 2020

BEIJING, Nov. 27 (Xinhua) — U.S. electric car maker Tesla has launched a recall of 870 vehicles in China, citing defective parts that could increase the risk of accidents, Chinas top quality watchdog said Friday.

The recall involves some imported Model X vehicles manufactured between March 16, 2016, and July 31, 2016, according to a statement from the State Administration for Market Regulation.

The automaker promised to conduct tests on the recalled vehicles and replace defective parts free of charge, while advising users to drive carefully before their cars are fixed.

(Xinhua)11:40, November 28, 2020

BRUSSELS, Nov. 27 (Xinhua) — After roughly one-month at sea, the vessel carrying the first batch of made-in-China Tesla Model 3 heading for Europe has arrived at Zeebrugge port in Belgium on Thursday evening, according to the Automatic Identification System (AIS) data of the vessel.

Docking at the wharf International Car Operators (ICO) Terminal, the vessel loaded with Tesla vehicles started the unloading process at 2:10 p.m. local time Friday as a first deep blue Model 3 drove off the ship.

A total of some 7,000 sedans were manufactured in Teslas Gigafactory in Shanghai, China, before launching its journey to Europe last month. The first batch, about half of the Model 3 vehicles, has arrived, while a second is scheduled to arrive early December, an on-site staff told Xinhua.

Those electric vehicles will then be shipped to countries including Germany, France, Italy, Spain, Portugal and Switzerland for sale.

Tao Lin, vice president at Tesla, told Xinhua that the U.S. carmaker gained more confidence in China after getting through the pandemic and benefiting from Chinas economic recovery.

Calling it a milestone for Teslas Shanghai Gigafactory, Tao said the export of China-made Tesla cars will continue as the plant further expands its production capacity.

She noted that the design of the Gigafactory in Shanghai is fully in line with international standards, which ensures its products are able to satisfy diversified consumption needs from all over the world.

The Shanghai plant had churned out more than 85,000 vehicles with an industrial output of over 21.6 billion yuan (about 3.2 billion U.S. dollars) by the end of September, with its weekly production stabilizing at 3,500 to 4,000 vehicles. Exports of vehicles and batteries from the plant are estimated to reach 450 million U.S. dollars within the year.

Earlier this year, Tesla delivered the first batch of made-in-China Model 3 sedans to the public, one year after the company broke ground on its first overseas plant.

Tesla China announced Friday that it plans to build a supercharger manufacturing factory in Shanghai, which is expected to be operational in the first quarter of 2021.

With a planned investment of 42 million yuan (about 6.4 million U.S. dollars), the plant will produce 10,000 superchargers annually, mainly the V3 model, at the initial stage. The company claims that a V3 supercharger can add 250 km of range by charging for 15 minutes.

Currently, Teslas superchargers used in China are all imported from the United States.

(Xinhua)12:39, November 28, 2020

BEIJING, Nov. 27 (Xinhua) — Chinas auto manufacturing sector saw profits rise 6.6 percent year on year to 421.15 billion yuan (about 64.05 billion U.S. dollars) in the first 10 months of 2020, industry data showed on Friday.

The growth picked up from the 3 percent gain seen in the first three quarters, according to the China Association of Automobile Manufacturers (CAAM), citing data from the National Bureau of Statistics.

The sectors profits accounted for 8.4 percent of total profits among industrial companies with annual revenues of more than 20 million yuan.

Earlier CAAM data showed Chinas auto market maintained recovery momentum in October, with sales rising 12.5 percent year on year to 2.57 million as the market warmed alongside government policies to spur consumption.

Auto sales totaled 19.7 million in the first 10 months, down 4.7 percent year on year.

(Xinhua)09:54, November 25, 2020

The number of Chinese enterprises in commercial aerospace industries has exceeded 160, according to an international aerospace forum held in Wenchang City, south Chinas island province of Hainan on Tuesday.

The enterprises cover the manufacturing of rockets and satellites, satellite tracking and control, the operation services of communications satellites and remote sensing satellites and other industries, said Wan Yanhui, head of the assets management department of China Aerospace Science and Technology Corporation at the Wenchang International Aviation Aerospace Forum.

China has carried out over 50 international commercial launches and completed the delivery of 14 satellites in orbit, Wan added.

The company also plans to build Wenchang into an international spacecraft launch center and an exchange and cooperation platform for aerospace to promote the development of commercial aerospace industries.

(Xinhua)10:25, November 25, 2020

Recognizing Hong Kongs advantages in green bond deals, 71 percent of existing issuers and 100 percent of existing investors in the market have plans for future green bond deals, a report said Tuesday.

Existing issuers consider the broad scale of international investors, availability of government subsidies, and low legal and marketing expenses as important advantages of the Hong Kong market, the Hong Kong Institute for Monetary and Financial Research (HKIMR) said in its report.

Meanwhile, some surveyed investors said they were motivated by the presence of socially responsible issuers and transparent information disclosure of Environmental, Social, and Corporate Governance (ESG) in Hong Kong, according to the report.

Green bond is a type of debt issued by public or private institutions which use the funds for environmental purposes.

With its first green bond issued in 2015, Hong Kong has become one of the major green bond hubs globally. By the end of 2019, green bonds arranged and issued here had totaled 26 billion U.S. dollars.

Over the years, regulators and policymakers have been actively promoting the development of the local green bond market, as multiple incentive policies have been launched to attract market participants to join the great green wave, Edmond Lau, senior executive director of the Hong Kong Monetary Authority (HKMA) said.

Mainland entities were the largest issuer, accounting for more than 70 percent of the total market in Hong Kong, the report showed. Financial institutions and corporate issuers contributed around 50 percent and 35 percent respectively.

In addition, the report advised Hong Kong to further improve the transparency of ESG information disclosure, promote convergence towards international green bond practices, and broaden incentive policies in a bid to perfect the infrastructure and encourage participation in the market.

The HKIMR was established by the HKMA in August 1999 and then became a subsidiary of the Hong Kong Academy of Finance in June 2019.

(Xinhua)11:19, November 25, 2020

The U.S. governments National Intellectual Property Rights Coordination Center (IPR Center) and Amazon on Tuesday announced the launch of a joint operation to prevent counterfeit goods from entering the Untied States and help protect consumers.

According to the announcement, the joint operation will analyze data and conduct targeted inspections aimed at preventing counterfeit products from entering the U.S. supply chain. The IPR Center and Amazon will leverage evidence obtained during the operation to expand on-going investigations, to hold bad actors accountable to the fullest extent of the law.

This operation will be led by Amazons Counterfeit Crimes Unit, which was created earlier this year to support law enforcement investigations and to initiate civil litigation against counterfeiters, the company said.

U.S. Customs and Border Protection (CBP) and DHL are also supporting the operation.

The IPR Center plays a critical role in securing the global supply-chain to protect the health and safety of the American public, said IPR Center Director Steve Francis. However, our efforts are increased with partners like Amazon to identify, interdict, and investigate individuals, companies, and criminal organizations engaging in the illegal importation of counterfeit products.

By combining intelligence from Amazon, the IPR Center, and other agencies, were able to stop counterfeits at the border, regardless of where bad actors were intending to offer them, said Dharmesh Mehta, Amazons vice president of Customer Trust and Partner Support.