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- Confucius Institutes – Promoting Knowledge and Cooperation - Editor, 17 June 2011
- Kunming Fair Promotes Yunnan for Trade Development - Editor, 10 June 2011
- Renminbi as International Trade Currency - Editor, 3 June 2011
- China-Virginia USA Trade Expansion - Editor, 13 may 2011
- Sino-Africa Link Goes Beyond Trade - Editor, 6 may 2011
- China-Australia Energy Talks - Editor, 29 April 2011
- G20 Policy Challenge - Editor, 15 April 2011
Confucius Institutes around the world have the primary goals of teaching the Chinese language of standard Mandarin, as well as to promote cultural exchange and facilitate business activity between China and participating countries. With the rapid development of China's economy, and the world's apparently insatiable appetite for Chinese made goods, the Confucius Institutes are becoming increasingly relevant. With its headquarters located in Beijing the Confucius Institutes fall under the jurisdiction of the Office of Chinese Language Council International. Referred to locally as HanBan, this non-governmental, non-profit organization is associated with the People's Republic of China Ministry of Education.
As the capital city of Yunnan province in south-western China, as well as being the largest city of the region, Kunming hosted the 19th China Kunming Import & Export Commodities Fair along with the 4th South Asian Nations Trade Fair on 6-7 June. The venue for the massive trade show, which featured more than 3,000 exhibition stands from South Asian nations including Cambodia, Thailand, Vietnam, Sri Lanka, Indonesia, Laos, Malaysia and Myanmar, was the Kunming International Convention Center.
As China prepares to launch its renminbi (RMB) as international currency, a number of overseas institutions are reported to have bought up in excess of RMB 10 billion in tradable bonds on the country's interbank bond market. Furthermore, it has been reported that Germany's second largest bank, Commerzbank AG, has introduced the RMB for corporate customers to facilitate the trade between the two countries, making it easier for German businesses to make payments directly to China, and vice versa. So it would appear that, in general, the international community supports the move to internationalize the RMB.
At present China is the second biggest export country for Virginia's trade. The State's Governor, Bob McDonnell, is looking to expand its relationship with China, and establishing a Shanghai marketing office is only the beginning. Numerous companies are already working on exporting and importing with China, such as REO Logistics that will be receiving an aluminum shipment from China for the first time. It is expected that this delivery will become a weekly occurrence and assist in job creation for the local population. That is why cities such as Waynesboro have also been negotiating with China with regard to imports and exports.
According to statistics compiled by the US Heritage Foundation, foreign direct investment by Chinese companies in Africa between 2005 and 2010 totaled more than $44 billion. This includes products and services, as well as Chinese-funded projects on the African continent. The rate of Sino-African growth in trade experienced a ten-fold increase in the decade ending 2010, in comparison with an eight-fold increase between China and the rest of the world.
The Australia-China Economic and Trade Cooperation Forum was hosted in Beijing on 26 April 2011, and positive agreements and relationships were built during the course of the meetings held. Talks held between Julia Gillard, Prime Minister of Australia, and Li Keqiang, Vice Premier of China, were directed at developing the relationship between the two countries in regard to resources and energy to more than the buyer-seller agreement that already exists. Li Keqiang stressed that both China and Australia should strive to develop long term agreements and a more stable bond in regard to energy and resources.
The G20, a group of twenty finance chiefs from around the world, will be meeting to discuss a new policy that will create a system that will be capable of warning the financial market of any imbalances that are occurring in finance as well as trade. It is the first time that China has experienced a foreign exchange reserve that exceeded $3 trillion – an indication that imbalances in the global economy are increasing. Lending has also begun to escalate and it is these imbalances that the G20 are trying to get a firm grasp on.
Recent Articles
- China and Taiwan Continue to Strengthen Trading Ties - Editor, Wednesday 18 January 2012
- China to Upgrade CNAPS for Cross-Border Trade - Editor, Wednesday 4 January 2012
- Philippines-China Trade Shows Impressive Growth - Editor, Wednesday 21 December 2011
- UAE-China Trade Ties Strengthened at 10th CCFS - Editor, Wednesday 7 December 2011
- China Reviews Climate Change Policies - Editor, Wednesday 23 November 2011

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