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- Australian Trade Delegation Visits China - Editor, 5 August 2011
- Canton Fair Prepares to Welcome the World - Editor, 29 July 2011
- Growing China's "Middle-Class" - Editor, 22 July 2011
- Real Estate Developments and Restrictions in China - Editor, 15 July 2011
- Utah USA to Host US-China 2011 Conference - Editor, 8 July 2011
- Europe-China Links Strengthened - Editor, 1 July 2011
- China-UK Summit: Partners for Growth - Editor, 24 June 2011
Australia's Trade Minister Craig Emerson is currently leading a delegation representing more than eighty Australian businesses in a visit to a number of China's so-called 'second tier' cities. The first stop on the Australian trade tour was the city of Guangzhou, the capital city of the Guangdong Province, where the delegation will meet with Vice Governor Zhao Yufang. Dr Emerson has noted that, as the Trade Minister of Australia, he will be concentrating his efforts on developing and strengthening trade relations with China, as well as Indonesia, Korea, Japan, Vietnam, Malaysia and India, rather than pursuing trading partners further afield. The second stop on the itinerary of the Australian delegation was Changsha, the capital city of Hunan Province in south-central China, where they were met by the city's Mayor Zhang Jianfrei and a delegation of top officials.
Generally referred to as the Canton Fair, the China Import and Export Fair has been held in the city of Guangzhou twice a year since the spring of 1957. Hosted by China's Ministry of Commerce together with the People's Government of Guangdong Province, it is by far the largest trade fair in the country, having the largest variety of products, the largest number of exhibitors and visitors, and being the networking platform for the largest number of business deals signed and sealed at one venue. The more popular name of the event is a reference to the historical name of the city, Canton, which was also previously known as Kwangchow. Guangzhou is the capital of the Guangdong Province.
Amid concerns about the widening gap between the very wealthy and those living in poverty, the Chinese government has made known its intention to steer the economy in the direction of developing the country’s domestic market, rather than looking to the export market for growth. The focus will be on moving citizens of China from the below-the-breadline bracket into middle-class, while at the same time growing the wealth of the current middle-class, all with a view to promoting social harmony and preventing discontent among the masses.
In an effort to cool China's property market and prevent a real estate bubble, authorities have already put in place restrictive measures to curb speculative buying in so-called first-tier cities. These measures include restricting the number of houses that can be bought by families, and not just individuals. Having achieved some degree of success, these measures are set to spread out to second and third-tier cities which are currently experiencing a tremendous real estate growth. At a recent State Council meeting, Premier Wen Jiabao urged cities experiencing dramatic property price increases to meet targets for affordable public housing, while at the same time intensifying their efforts to cool the real estate markets under their jurisdiction.
Taking place at the Little America Hotel in Salt Lake City, Utah, on 14-16 July 2011, the US-China Trade, Culture and Education Conference 2011 aims to provide a platform for professionals and influential decision makers to network, exchange ideas, and explore new possibilities of working together in a way that will benefit both the United States and China. The delegation travelling to the United States for this inaugural conference includes more than 180 of China's top government officials, academics and business leaders. With the US economy taking strain, and China's increased presence beyond its borders, this conference is very timely and is expected to be well supported.
During his visit to Germany, as part of a trip that included a China-UK Summit in the United Kingdom and a stop in Hungary, Chinese Premier Wen Jiabao reportedly offered to assist Europe with its debt crisis by buying up the sovereign debt of beleaguered euro zones if called for. While no specifics were revealed as to the extent of possible aid and which countries would be the recipients, some see the offer as a beneficial strengthening of ties between China and Europe, while others caution against looking to China to rescue Europe's common currency. This is the first time Germany and China have consulted at ministerial level with the aim of boosting trade.
Chinese Premier Wen Jiabao has departed today (Friday June 24) for a scheduled visit starting in Hungary, and including the United Kingdom and Germany. Analysts have noted that the support of China in buying up European debt has played an important role in the euro currency holding its own and not depreciating despite economic instability of some member countries. This assistance from China has its own agenda, however, being that of increasing the international influence of the yuan (renminbi) and facilitating a gradual appreciation of its currency. It is thought to be most likely that Wen Jiabao will confirm China's support for the EU, especially in light of the fact that the EU is China's largest export market, and the health of the economy of EU member countries is vital to China’s economic growth prospects.
Recent Articles
- China and Taiwan Continue to Strengthen Trading Ties - Editor, Wednesday 18 January 2012
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- UAE-China Trade Ties Strengthened at 10th CCFS - Editor, Wednesday 7 December 2011
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