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GUANGZHOU, Oct. 20 (Xinhua) -- Chinese exporters, faced with dwindling foreign orders amid global economic slowdown, are diverting their attention to domestic markets. At the ongoing Canton Fair, China's leading trade fair, businesses that canvass foreign buyers are also focusing on the local market as their customers in the Western nations are dragged into recession by the global credit crisis. Qiao Guan, board chairman of the Jiangsu Hotwind Sauna Equipment, said his company is planning to divert some of the business from abroad to the domestic market. The company's sales in the United States, which accounted for about 30 percent of its total exports, had dropped by more than 20 percent this year, Qiao said. He hoped the local sales could compensate the decreasing orders in the foreign market. "We have completed research on the domestic market, which shows some exported goods are affordable and have good sales prospects in the local market," he said. The Himin Solar Energy Group, based in east China's Shandong Province, produces solar water heaters that are sold both at home and abroad. Xue Xinwen, head of the firm's international trade department, said the company had been losing orders as some Western countries canceled subsidies on environment-friendly imports. "We have sent more staff to market our products to local infrastructure authorities and companies," he said. "Domestic consumption has been greatly boosted by a robustly growing economy, creating positive situations for exporters to go local," he said. But the readjustment can be difficult. Li Jianlan, a worker with Wanji Plumbing Materials Co. Ltd, based in Ningbo, said an exclusive exporter like her company lacked channels and brand loyalty in the domestic market. "These are two different kinds of markets, and it takes a lot of work to be familiar with the ways business is done with local buyers," she said. Some goods that are made for export are deemed too expensive for Chinese buyers. Huang Yan, general manager of the L-bright Export Manufacture Corporation, said it had been very difficult to sell its products to domestic buyers as they lacked a price advantage. Local governments, aware of the trend, are taking action to encourage the conversions. Guangdong Province, the country's major exporting base, issued a notice in June, ordering local quality inspection authorities to provide needed technical assistance to exporters.
BEIJING, Oct. 31 (Xinhua) -- Chinese shares dropped 1.97 percent on Friday, the month's last trading day. The benchmark Shanghai Composite Index lost 1.97 percent, or 34.82 points, to close at 1,728.79. The Shenzhen index was down 1.19 percent, or 70.33 points, to close at 5,839.33 points. The combined turnover was 35.23 billion yuan (5.03 billion U.S.dollars), compared with 49.35 billion yuan on the previous trading day. Losses outnumbered gains by 656 to 199 in Shanghai and 576 to151 in Shenzhen. Almost all sectors fell except industries related to aircraft making after the Commercial Aircraft Corporation of China Ltd. (CACC) announced Chinese indigenous regional jets would be sold to the United States, analysts said. CACC is not a publicly traded company. Coal companies suffered the most losses. Kailuan Clean Coal Co.lost 7.21 percent to 10.3 yuan. Taiyuan Coal Gasification Company fell 4.34 percent to 7.50 yuan. "I don't think the fall was related to recent mine accidents. It was a reflection of diminishing global energy demand," said Alex Xue, analyst with JL McGregor & Company. The finance sector also dropped by an average of 3 percent. CITIC securities lost 2.46 percent to 17.84 yuan. Bank of Communications fell 4.20 percent to 4.33 yuan. According to estimates from Friday's China Securities News, third-quarter profits of the country's 1,466 listed companies would fall 10.17 percent from the same period a year ago and 18.41 percent from the previous month to 206.09 billion yuan. Operating net cash flow fell 51.75 percent to 827.4 billion yuan in the first three quarters. Analysts said rising material costs and weakening demand led to slumping profits. The country's industrial output value growth slowed to 11.4 percent in September, the lowest rate since April 2002, the National Development and Reform Commission said on Thursday. Despite the latest rate cut, which was viewed as helpful to stabilizing the stock market, analysts said the market could possibly continue falling. The long-term affects from the rate cut are yet to been seen.

ABOARD DESTROYER WUHAN, Jan. 12 (Xinhua) -- A Chinese mainland navel fleet on Monday began to carry out an escort mission for four merchant ships including one from Taiwan in the Gulf of Aden off Somalia. The mission is also escorting two other ships from Shanghai and one from the Philippines to protect them against pirate attacks. A Chinese navy helicopter keeps alert over a cargo ship in the waters of the Gulf of Aden on Jan. 12, 2009. At 6:00 a.m. (0300 GMT), the four ships set out in a line for a voyage of 553 sea miles (1019 km), accompanied by the destroyer Wuhan. Two groups of naval special forces were aboard the first and the last ships. Another Chinese destroyer Haikou will join the mission later in waters, where the pirates are more likely to appear. Rear-Admiral Du Jingchen, commander of the naval fleet, said safeguarding transport in the Gulf of Aden and maintaining security of ships was the common wish of all pacifists including compatriots across the Taiwan Straits. The Gulf of Aden is a key trade route linking the Indian Ocean with the Mediterranean via the Suez Canal. Chinese missile destroyer Wuhan (R) escorts a cargo ship in the waters of the Gulf of Aden on Jan. 12, 2009. The Chinese fleet started to carry out the second escort mission against pirates in the Gulf of Aden on Monday. The fleet, including the two destroyers and one supply ship, conducted its first escort mission from Jan. 6 to 8. The fleet has about 800 crew members, including 70 soldiers from the Navy's special force, and is equipped with missiles, cannons and light weapons. The London-based International Maritime Bureau said more than 100 vessels had been attacked in the Gulf in 2008 and more than 10ships are still being held for ransom.
ADDIS ABABA, Nov. 10 (Xinhua) -- China's top legislator Wu Bangguo said here on Monday that his country attaches great importance to its development of relations with Ethiopia. "My current visit to Ethiopia is aimed at bringing the existing all-round cooperative partnership to a new level and injecting new life into the traditional friendship between the two sides," said Wu Bangguo, chairman of the Standing Committee of China's National People's Congress (NPC). Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress(NPC), the country's top legislature, meets with Ethiopian President Girma Wolde Giorgis (R) in Addis Ababa, capital of Ethiopia, on Nov. 10, 2008. "This is my first visit to Ethiopia. During my visit I witness the Ethiopian people's affection towards the Chinese people, and Iextend my good wishes to the Ethiopian people," said Wu during his meeting with Ethiopian President Girma Woldegiorgis. "As a true friend of the Ethiopian people, we are happy to see the achievements made by Ethiopia in implementing the agriculture-led Industrial development plan in recent years. We are also happy to see that Ethiopia has become an example of how to meet the UN Millennium Development Goals (MDGs) ." "I yesterday had very good talks separately with Teshome Toga, speaker of Ethiopian Council of People's Representatives, and Speaker of Ethiopian Federal Council Degefi Bula, reaching many important consensuses," said the Chinese top legislator. During his talks with the two Ethiopian speakers, the two sides agreed to strengthen exchanges and cooperation between the two countries' legislatures as part of their efforts to push for improvement of people-to-people friendship, strengthening mutual political trust and promoting mutual benefit in economic cooperation, according to Wu. Wu is on a five-African nation tour. Ethiopia is the third leg of his two-week-long visit to Africa. For his part, Ethiopian President Girma said his country is satisfied with the better relations with China. The president said he is very happy with China's decision to set up an agricultural technology demonstration center in Ethiopia. He believed the demonstration center is conducive to furthering the agricultural cooperation between Ethiopia and China, improving Ethiopia's agricultural development level and helping the country's efforts to reduce poverty. During the talks, Wu appreciated Ethiopia's commitment to the one-China policy. Wu pledged that China will speed up the construction of the demonstration center, which helps deepen the realistic cooperation in areas like farming.
BEIJING, Oct. 23 (Xinhua) -- China voiced its strong dissatisfaction and stern opposition to an award from the European Union (EU) to a Chinese criminal. "We express strong dissatisfaction and stern opposition (to the award)," Chinese Foreign Ministry spokesman Qin Gang said in a written statement in response to the award on Thursday evening. The European Parliament (EP), a supervisory and consultative organ of the EU, announced on Thursday it would select Hu for the Sakharov Prize. On April 3, Hu was sentenced by the Beijing No. 1 Intermediate People's Court to 3.5 years imprisonment, with one year's deprivation of political rights. The verdict said Hu, an unemployed father aged 34 and the holder of a college degree, libeled the Chinese political and social systems, and instigated subversion of the state, which is a crime under Chinese law. "Hu is a convicted criminal who is now in jail for subverting the state", Qin said, noting the award to Hu, in disguise of "protecting the human rights," is fabricating facts and confusing truth and has fully exposed its political attempt to interfere in China's internal affairs and infringe upon the country's judicial sovereignty. "The fact has already proved and will continue to prove that such an act can neither change the fact of China's social development, nor deceive the European people," Qin said.
来源:资阳报