Bank of China USA’s Post

Chinese firms will be traveling abroad in 2024 to make deals and expand their markets. The China Council for the Promotion of International Trade (CCPIT) plans to arrange for over 1,000 groups of enterprises to visit foreign countries to participate in exhibitions, conduct market research, and hold business talks. The visits will focus on important trade and economic partners such as Europe, North America, Japan, South Korea, the Association of Southeast Asian Nations, and Latin America. CCPIT aims to further assist Chinese firms in expanding their overseas markets, following an increase in China's foreign trade in 2023. #AsiaOperations #TradeIssuesandNumbers #China Follow us for daily updates on risk and operations in Asia! https://lnkd.in/gtACVEM6

China looks forward to expanding economic ties with Russia — authorities Official spokesperson of China's Ministry of Commerce He Yadong was optimistic about bilateral economic interaction, noting its "continuing steady development" The Chinese government will try to keep the positive trend in trade and investment relations going with Russia, official spokesperson of China's Ministry of Commerce He Yadong said. "The Ministry of Commerce together with the relevant authorities will endeavor to implement the important consensus reached by leaders of the two countries. We will strengthen the positive dynamics in Sino-Russian trade and investment cooperation," the spokesperson said at a briefing. The official was optimistic about bilateral economic interaction, noting its "continuing steady development." Beijing intends to expand interaction with Moscow in such areas as digital commerce, he noted. China is interested in jointly promoting projects with Russia in e-commerce and other promising areas, the spokesperson said. China plans to increase the level of cross-border communications with Russia, strengthen ties between companies and regions of the two countries, and "enrich the substance of Sino-Russian trade and economic cooperation," he added. Trade turnover between China and Russia surged by 26.3% in 2023, reaching a record $240.11 bln, China’s Main Customs Administration said last week. #business #finance #financialservices

Amid rising trade tensions with Western governments, Chinese businesses are increasingly turning to countries like Vietnam and Mexico for investment opportunities. As the US imports more from countries beyond China, Chinese businesses are also boosting exports to these countries. Read more: https://bit.ly/4bCht9L If you have any concerns about international imports or experts, our trusted trade experts are on hand to assist you. Please reach out: www.braumillerlaw.com #ChinaExports #USImports #InternationalTrade

Our great leap backward in China trade ignores China specialists by Katie Howe Last week Prime Minister Albanese cheerfully welcomed the Chinese government’s removal of import duties on Australian wine. Following numerous government-to-government talks held in Canberra and Beijing over recent months, it was seen as a positive step in a new era of Australia-China relations. While Australia was one of the first countries to acknowledge modern China, back in 1971, in recent years there’s been a great leap backward in trade, investment and diplomatic relations. Despite the advantages of early engagement, generations of well-trained China specialists, a steady increase of Chinese migrants and plenty of Australians living in China as expats, relations continue to develop in fits and starts. #defence #defenceindustry #manufacturing #manufacturingnews @PatConroy1 Pat ConroyKatie Howe #China #trade https://lnkd.in/guGu83Yu

How Chinese New Year Affects International Trade - Between February 10th and 17th, 2024, China celebrates the Year of the Dragon, a culturally significant festivity that plays a significant role in the global landscape of foreign trade. During these celebrations, it's common for many Chinese factories and suppliers to suspend their operations, causing delays in production and shipment of goods. Maritime transport, already affected by the armed conflict in the Red Sea (the primary trade route between Europe, Asia, and North America), may experience additional increases in freight costs. This, in turn, impacts the demand, prices, and volumes of products imported and exported by China. To tackle these challenges, it's crucial for importing and exporting businesses to plan ahead, adjusting schedules to avoid delays and additional costs. An essential tip: maintain proactive communication with your suppliers and update your logistical planning to minimize the impact on business operations. For more information about international trade, leave your comments and follow us. #Logistics #internationalbusiness #importexport #asianbusiness #china #strategicsourcing #business #sourcing #steel #sourcingsolutions

Amazing progress towards Central Asia regional economic, investment and trade integration as a result of 7th heads of state’s consultative meeting in Astana on August 9th! Regarding practical measures, Central Asian republics are set to eliminate tariff and non-tariff barriers, mutually recognize certificates of conformity, harmonize regulations, digitize customs operations and phytosanitary procedures, and consider mutual access to public procurement. Other proposed ideas included establishing Central Asia business council, allow free travels of Central Asia citizens with domestic passport IDs! Many of the above measures were developed and recommended by the business community, regional subgroups such ones of e-commerce, tourism, green economy and agribusiness, and included in the final communique of the US lead B5 plus 1 forum in Almaty in March this year. Great to see real actions, and direct attribution of the B5 plus 1 regional business dialogue platform to the process of Central Asia economic, trade and investment integration:

FROM Mayaro to Carenage, Chinese restaurants, supermarkets and casinos have lined rural and urban roads, long before Trinidad and Tobago and China established official bilateral trade ties 50 years ago. While they shared modest relations early on, the trade volume between the two countries has increased significantly in the past decade. TT became the first English-speaking Caribbean state to cross US$1 billion in trade with China for the first time in 2019, peaking at US$1.34 billion last year. TT exports mainly comprised energy products, such as liquefied natural gas (LNG) and petrochemicals; imports comprised machinery, electronics, clothing, and other consumer goods. The trade arrangement has evolved in recent years through legislation, encouraged by China’s ambassador to TT Fang Qiu, who sees the diplomatic ties as a blueprint for equitable partnerships and mutual benefit between countries of all sizes. Click here to read more: https://lnkd.in/gy5TpWBF

China looks to RCEP partners for economic growth. China is working with its partners in the Regional Comprehensive Economic Partnership to open up markets, increase fair competition and rules-based trading, Chinese officials and experts said at a recent forum. China, as the largest economy within the RCEP framework, is set to work closely with other member countries to unlock the full potential of the agreement and ensure that its benefits are shared by all for win-win cooperation, they said at the fourth edition of the RCEP Media and Think Tank Forum. RCEP officially came into being in June 2023 year, with its 15 signatory countries being China, Australia, Japan, New Zealand, South Korea and the 10 member states of the Association of Southeast Asian Nations (Asean). The forum, themed ‘Shared Benefits, Win-win Cooperation’, was held by the Publicity Department of the CPC Hainan Provincial Committee, China Daily and the China Institute for Reform and Development. “Looking ahead, the RCEP is set to unleash more vitality as member countries make significant strides in enhancing connectivity and boosting trade and investment,” said Hu Kaihong, a member of the Affairs Council of the Publicity Department of the Communist Party of China Central Committee. Read full news article on China's economic growth here - https://lnkd.in/eqnFtanv #china #economic #growth #economy #asia #global #education #business #success #international #finance #students #trade

2024 marks an important year and it is the 10th anniversary of the entry into force of the Sino-Swiss Free Trade Agreement—a landmark agreement that has significantly strengthened bilateral trade. On Monday (1st July), Switzerland and China singed a memorandum of understanding (MoU) and agreed to formally launch negotiations to upgrade the bilateral free trade agreement (FTA). #Switzerlandglobalenterprise #SGE #SBHChina #SwissExport #Export #SwissSMEs #SMEs