http://www.ebsi.ie/images/stories/newslider/rotator302.jpg With the upcoming ICC Banking Commission meeting to be hosted by the ICC National Committee in China from 21-23 April 2010 in Beijing, eBSI Trade Brief has compiled this quick guide to the meeting and useful starting points for anyone wishing to know more about the most populous market in the world.
The Banking Commission Meeting itself will be preceded on 20 April by a Trade Finance Forum organised by ICC China which will comprise of two sessions: a morning session on URDG 758 and Demand Guarantee Practice which will be led by Dr. Georges Affaki vice-chair of the ICC Banking Commission and chair of the URDG 758 drafting Group followed by an afternoon session Documentary Credit Master class led by ICC Technical Advisor Mr Gary Collyer.
The Banking Commission Meeting itself is themed ‘Trade Routes to Recovery’. With this in mind, besides the standard Banking Commission activities of discussing new rules and deciding on draft opinions relating to Trade Finance Practice, a number of interventions will be focused on regional developments following from the global financial crisis, a panel discussion presenting the latest ICC Global Trade Finance Survey 2010, a panel moderated by Vincent O’Brien comprising the major trade facilitation initiatives will relate their reaction to the credit crisis and elaborate on specific measures taken to maintain and expand their much needed trade supports. The initiatives proposed by the G20 agenda will be explored.
The Banking Commission Conference will conclude with a panel discussion on the Globalisation of Trade will focus on the future of trade finance with a special focus on emerging solutions such as supply chain financing, open account trading, e-commerce among other areas.
ICC Banking Commission Meeting and Related Events The ICC Banking Commission will be the focal point of a number of events to be held in Beijing, China from 20-23 April 2010.
20 April 2010
9.30 – 17.00 ICC China Trade Finance Forum
21 April 2010
13.00 – 18.00 ICC Banking Commission Meeting
18.30 – 20.30 Dinner Reception
22 April 2010
09.00 – 18.00 ICC Banking Commission Meeting
18.30 – 20.30 Dinner Reception
23 April 2010
09.00 – 17.00 Banking Commission Conference
Trade Routes to Recovery.
Basic Economic Facts
GDP: $8.767 trillion (2009 est.)
GDP per head: $6,500 (2009 est.)
Annual Growth: 8.4% (2009 est.)
Inflation: -0.8% (2009 est.)
Major Industries: mining and ore processing, iron, steel, aluminum, and other
metals, coal; machine building; armaments;
textiles and apparel; petroleum; cement;
chemicals; fertilizers; consumer products,including footwear, toys, and electronics;
food processing; transportation equipment,including automobiles, rail cars and locomotives, ships, and aircraft;
telecommunications equipment, commercial space launch vehicles, satellites
Major trading partners: Hong Kong,
United States, Japan, South Korea, Germany
Exchange rate: (Renminbi Yuan (RMB).
US dollar USD 6.82
Euro EUR 9.32
Japanese yen JPY 0.076
British pound GBP 10.65
Russian rouble RUB 0.223
Reserves of foreign exchange and gold:
2.206 trillion USD
China’s Contribution to Stabilising Trade Finance
Through buying bonds from the IFC, China has supported the IFC’s Global Trade Finance Program, which will provide liquidity support to financial institutions engaged in trade finance. In fact, China has provided liquidity to the trade financeprograms of a number of regional multilateral development institutions.
President Hu Jintao pledged at the G20 summit in Washington in November 2009 that “China is willing to actively participate in the trade financing plan of the IFC”.
Since it became a formal member of the Inter-American Development Bank (IDB) Group in January 2009, China has contributed $200 million, $75 million and $75 million to the IDB, the Inter-American Investment Corporation and the Multilateral Investment Fund under the group, respectively.
Port of Dalian – Gateway to China Mrs. Mahin Faghfouri, President of the International Multimodal Transport Association (IMMTA) and Vincent O’Brien, IMMTA Trade Finance Advisor presents on trends in multimodal transport at the 4th Global Shipping Summit in Dalian Port China in November 2009.
Port of Dalian is the most northern ice-free port in China. It is also the largest multi-purpose port in Northeast China. It is the
trade gateway to the Pacific. It is the second largest container transshipment hub in mainland China.
Port of Dalian has established trading and shipping links with more than 300 ports in 160 countries and regions of the world.
There are 68 international and domestic container shipping routes. Port of Dalian handles at least 100 million in cargo throughput annually.
The port has 80 modern berths – 38 are deep water berths for vessels of over 10,000 metric tons deadweight (DWT).
|Useful Websites on China
Bank of China
Ministry of Commerce
Doing Business in China
China Chamber of Commerce & Industry
Government of China
China Stock Market News
China Development Gateway
|China Business Marketplace – Alibaba
People’s Development Bank of China
China Development Bank
China Business Guide
China Coverage from CIA World Fact Book
China Business News
US Government Export Guide to China