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SHANGHAI, March 5 (Xinhua) -- A traditional commodity fair in east China, conventionally regarded as a barometer of the nation's foreign trade, reported less demands from American businessmen than expected, indicating a possible slowdown of Sino-U.S. trade. The 18th East China Commodity Fair, an event held at the beginning of every year, reported around 1,600 American businessmen, far less than expected. "The number of the American businessmen to the fair was only two thirds of those from the European Union, showing the deficient domestic demands of the United States," said Wang Qingjiang, an official with the fair. "The subprime crisis in the United States has shown its influence on China's exports," he added. The 5-day fair registered total business deals worth 583 million U.S. dollars between Chinese companies and the U.S. businessmen, a 1.5 percent dip from last year. Deals worth more than 3.67 billion U.S. dollars were signed at the fair, a 3.52 percent growth from 2007. Deals between Chinese companies and the European Union businessmen added up to 879 million U.S. dollars, a 9.5 percent growth compared with the last fair. Chinese companies and the Japanese businessmen made deals worth906 million U.S. dollars, almost the same amount compared with last year. The fair attracted more than 19,000 businessmen from 145 countries and regions around the world, with more than 60 percent from Asia. According to experts, the fair could indicate the trend in China's foreign trade in 2008.
BEIJING -- China is likely to become the world's second largest consumer market by 2015, said a report released by the Boston Consulting Group (BCG).Chinese shoppers select the luxury Louis Vuitton luggage at the first franchise store in Nanjing, East China's Jiangsu Province, July 25, 2007. [newsphoto]The report is based on a survey of 4,258 consumers in 13 Chinese cities from February to March 2007. According to the report, Chinese consumers are experiencing unprecedented wealth growth which is 3 to 5 times faster than developed countries in the past 50 years. Most Chinese consumers plan to spend more in near future to fulfill their family dreams."The past decade of rapid economic growth has brought prosperity but also uncertainty, resulting in a highly complex consumer market with diverse consumer attitudes," said Hubert Hsu, senior partner and managing director of BCG, at a press conference in Beijing."Capturing the next wave of consumer growth in China will involve developing deep consumer insights and creating marketing differentiation," said Hsu.The report said there are significant generational differences in terms of spending attitude among Chinese consumers. The strong interest in trading up, which means spending more money for more expensive products, was driven up by consumers' increasing desire for better goods and services and rising concern over safety and quality of cheap products.Chinese consumers put more faith in brand names compared with the US consumers and they believe good brand represents quality, safety, effectiveness and durability, said Hsu.Despite strong trading up desires, Chinese consumers continue to "treasure hunt" - make deliberate trade-offs to maximize "value" of their budgets. They use similar strategies for treasure hunting as their counterparts in other countries except several unusual tactics such as group purchase for volume discount, said the report.The report suggested global suppliers in China should establish strong, branded relationships with China's treasure-hunting consumers, provide the kinds of products that appeal to practical concerns and emotional needs, and be willing to customize their offerings to meet the needs of a geographically diverse population.While the retailers must make sure the categories they carry are the ones that treasure-hunting consumers will seek and focus on a product's technical and emotional benefits, said the report.

YANGJIANG, Guangdong Province -- A Chinese salvage team is getting ready to recover the wreckage of an ancient merchant ship loaded with exquisite porcelain from the South China sea on Saturday."If the weather is cooperative, the boat, which has been in the sea for about 800 years, will see the light of day again two days later," said Wu Jiancheng, head of the excavation project.Photo taken on Dec. 20 shows the interior of "Crystal Palace," a glass pool that will be used to put the ancient merchant ship Nanhai No. 1 after its wreckage is recovered from the South China sea on Saturday, Dec. 22. [Xinhua]According to Wu, the excavation is scheduled to begin at 10 am and the ship is expected to be hoisted out of water in two hours.The ship dates back to the early Southern Song Dynasty (1127-1279) and is 30.4 meters long and 9.8 meters wide. It was the first ancient vessel discovered on the "Marine Silk Road" of the South China Sea. It was named Nanhai No. 1, meaning "South China Sea No.1."Wu said, Nanhai No. 1 left port in southern China to trade with foreign countries and sank probably due to stormy waves. It was quickly buried by silt. It was estimated there were probably 60,000 to 80,000 relics on board.To better protect the precious relics and gain valuable information, archaeologists launched an unprecedented operation in early May to raise the wreck and the surrounding silt in a huge steel basket.According to the plan, a crane would first put the basket onto a barge. Tow boats would then pull the barge to a temporary port on Sunday where the basket would be sent to a specially-built museum.In order to avoid damage to the relics caused by a change of environment and pressure, the ancient ship would be put in a huge glass pool. There, the water temperature, pressure and other environmental conditions would be the same as the sea bed where the ship lay.The pool, named "Crystal Palace" is 64 meters long, 40 meters wide and 23 meters high. It contains seawater and is about 12 meters in depth."It will be sealed after the ship and the silt are put in," said Feng Shaowen, head of the cultural bureau of Yangjiang City, Guangdong Province.Feng said visitors would be able watch the on-going excavation of the ship through windows on two sides of the pool.As early as 2,000 years ago, ancient Chinese traders began taking china, silk and cloth textiles and other commodities to foreign countries along the trading route. It started from ports at today's Guangdong and Fujian provinces to countries in southeast Asia, Africa and Europe.Nanhai No.1, accidentally found in 1987, was located some 20 sea miles west of Hailing Island of Yangjiang City in South China's Guangdong Province, in more than 20 meters of water.Green glazed porcelain plates, tin pots, shadowy blue porcelains and other rare antiques have all been found during the initial exploration of the ship.Guangdong has earmarked 150 million yuan (US.3 million) to build a "Marine Silk Road Museum" to preserve the salvaged ancient ship.Unlike the traditional practice of excavating relics on sunken ships first and then salvaging the vessel, no more relic excavations would be made until the boat "gets used to its new home," said Wu."Actually, archaeologists will conduct thorough excavations of the ship later in the pool."It is believed that a successful salvage would offer important material evidence for the study of China's history in seafaring, shipbuilding and ceramics manufacture.
The US government should withdraw its complaint against China to the WTO over the intellectual property rights (IPR) issue, China's top IPR official reiterated on Tuesday. "The Chinese government has always been firm in protecting intellectual property rights and attained significant achievements in this respect. It's not a sensible move for the US government to file a complaint against China to the WTO," said Tian Lipu, director of the State Intellectual Property Office (SIPO). The United States filed two WTO complaints against China over copyright piracy and restrictions on the sale of US books, music, videos and movies early April. "As far as I know, negotiators from China and the US are still in the consultation stages within the WTO framework," Tian said, speaking at a seminar organized by the World Intellectual Property Organization (WIPO) and SIPO in Beijing. He said that it was still hard to predict the result of the consultation since it was the first time China had handled such a complaint. "But we will respond to it positively according to WTO rules and fight through to the end," Tian vowed. According to rules set by WTO, trade negotiators from both countries should try to resolve the dispute within a 60-day consultation period from the day the complaint was lodged. Otherwise, the United States can ask the WTO to establish investigative panels. Tian said it was unreasonable for the United States to ignore the huge progress achieved by China in IPR protection. He stressed that the amount of invention patent applications in China ranked fourth in the world last year and it increased by 28.4 percent on average between 2000 and 2006. "IPR protection is a natural option for building an innovative country. It also serves China's goal for overall development. Therefore, the Chinese government will continue its efforts to protect IPR and combat copyright piracy no matter what decisions the US makes," Tian noted.
WUHAN -- The rainstorm and floods have killed 68 people and 25 others were missing in central China's Hubei Province since the flood season began in June, according to local government. Another 402,200 people have been evacuated from affected areas, said Liu Hui, deputy head of the disaster relief office under the provincial civil affairs department at a press conference on Sunday afternoon. Hubei, which is also called "the province of thousands of lakes", has experienced six major rainstorms since June, which have triggered floods in more than 2,000 rivers, mountain torrents and landslides, causing an economic loss of more than 3,800 million yuan, said Liu. The central and local governments had allocated more than 90.5 million yuan of relief fund to the affected areas and all the evacuated people have been well accommodated, said Liu. "The evacuated residents have been arranged to live in tents, government buildings, schools or at their relatives and local governments have sent medical teams to treat the injured," said Liu. The official with the provincial flood control office warned local government of preparing for new floods as heavy rainstorms were said to hit Hubei from Tuesday to Friday. "Although the large rivers, like the Yangtze and the Hanjiang Rivers, remain calm so far, the water level of 2,000 rivers of smaller size have risen dramatically, posing a serious threat to the flood control in the counties where the dams are poorly maintained," said Guo Zhigao, deputy director of the provincial flood control office. In addition, most of the reservoirs in Hubei have used out its capacity and some were even reported with leakage and overflow, according to Guo. More than 90,000 people have been patrolling on the dams and around the reservoir and residents nearby have been asked to evacuated to safe places. (One U.S. dollar equals 7.6 yuan)
来源:资阳报