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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, Jan. 5 (Xinhua) -- Chinese exporters face an increased risk of not being paid for their goods as foreign banks run out of cash and some overseas importers evade paying debts, China's Ministry of Commerce (MOC) warned Monday. "The cases of malicious debt evasion and breach of contracts by importers in certain countries or regions are on the rise," said the ministry in a notice. It attributed the phenomenon to the impact of the deepening global financial crisis. The MOC urged local governments, guilds and overseas Chinese businesses to more closely monitor the credit of foreign importers. Priority should be placed on tracking the credit ratings of foreign lenders, it said. The ministry also called on local governments to support the development of export credit insurance and encourage exporters to carry such insurance by reducing premiums. From January to November last year, China Export & Credit Insurance Corporation (SINOSURE) provided 56.5 billion U.S. dollars of guarantee for exporters against credit risks such as payment default. That is 63.6 percent higher than the same period a year earlier. The reason for the increase is that more exporters sought insurance, company figures show. SINOSURE is China's only policy insurance company undertaking export credit insurance. In that period, SINOSURE paid 210 million U.S. dollars of indemnities, up 174.5 percent from the same period of 2007. In December, the insurer reduced credit ratings for a record 48countries, including the United States. A total of 191 countries were reappraised in December.
BEIJING, Nov. 14 (Xinhua) -- China's government on Friday pledged to make every effort to ensure the safe release of the crew of a Chinese fishing boat seized by Somali pirates off east Africa. The Chinese Foreign Ministry issued a statement saying it was still assessing the situation and trying to obtain more information on the vessel, which was overrun late on Thursday. The ministry would work with organizations abroad to ensure the safe release of the crew, according to the statement. The vessel, owned by Tianjin Ocean Fishing Company, was hijacked by pirates armed with grenade launchers and automatic weapons off the coast of Kenya and was being held off the southern Somali port city of Kismanyu, according to reports on Friday. The 24 crew comprised 16 Chinese, one Japanese, three Filipinos and four Vietnamese, according to China's Ministry of Transport. A Somali pirate leader reportedly said all the crew members were "fine".
BEIJING, Jan. 13 (Xinhua) -- Chinese President Hu Jintao, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, attended an art performance to entertain military veterans and ex-officers on Tuesday. Prior to the performance, representatives of army men participating in the relief efforts against the deadly May 12 earthquake, three taikonauts who operated the Shenzhou-7 manned spacecraft went onto the stage to give Spring Festival greetings to military leaders and veterans. Hu Jintao (R front), general secretary of the Communist Party of China (CPC) Central Committee, Chinese president, and chairman of the Central Military Commission (CMC), shakes hands with old comrades and retired cadres of the army, in Beijing, capital of China, Jan. 13, 2009. Hu watched the performances along with old comrades and retired cadres of the army and extended greetings to them, wishing them all good health and a happy Spring Festival. Artists performed dances, songs and dramas that praise the country's reform and opening-up drive in the past three decades, the current modernization of China's armed forces, and the old days when old generations of servicemen fought for the founding of New China. Also present at the gathering were senior military officials Guo Boxiong and Xu Caihou, and military veterans including Zhang Wannian and Cao Gangchuan.
BEIJING, Jan. 22 (Xinhua) -- Chinese President Hu Jintao paid visits to the Beijing Military Area Command and a local communication station of the Chinese People's Liberation Army (PLA) on Wednesday, just days ahead of the traditional Lunar New Year. Hu, who is also General Secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, first conveyed New Year greetings to the soldiers on behalf of the CPC Central Committee and the Central Military Commission. This year's Lunar New Year falls on January 26. He urged the PLA soldiers to promote military values and make further contributions to national defense and modernization. Chinese President Hu Jintao, who is also General Secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission (CMC), talks with a soldier of Beijing Military Area Command in Beijing, capital of China, Jan. 21, 2009. Hu Jintao paid visits to the Beijing Military Area Command and a local communication station of the Chinese People's Liberation Army (PLA) on Wednesday, just days ahead of the traditional Lunar New Year. Hu conveyed New Year greetings to the soldiers on behalf of the CPC Central Committee and the Central Military Commission The PLA soldiers should be loyal to the Party, love the people, and be dedicated to their career while serving the country and upholding military glory, Hu said. On Wednesday night, Hu joined with army officers and other staff in a gala party held in downtown Beijing. Other senior Chinese leaders attending the party include Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang. Hu Xuzhe (R), an instructor of local communication station of China's People's Liberation Army (PLA) General Staff Headquarters, present a paper cut work to Chinese President Hu Jintao (C, front), who is also General Secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission (CMC), in Beijing, capital of China, Jan. 21, 2009.