"Challenges & Rewards: Doing Business with China in 2009" Workshop Scheduled in Chicago

Artisan Business Group announced a new business seminar "Challenges and Rewards: Doing Business in China" scheduled May 1, 2009 in Chicago. Please log on http://www.ArtisanBusinessGroup.com for details and agenda.

Becoming a Federally-designated EB-5 Regional Center in the U.S.

Becoming a Federally-designated EB-5 Regional Center in the U.S.

The PowerPoint presentation is programmed for public and private entities that are exploring and seeking new and unique solutions to help local business growth and economic development through establishing an EB-5 Regional Center designation with the USCIS. EB-5 program has brought in billions of dollars in direct foreign investment and created tens of thousands of jobs in the U.S. Learn the requirements and application process and find out how your area can benefit from foreign investment. The Questions & Answers session allows you to ask 10 questions via email.
For details, log on http://www.midwestUSAChina.com/eb5.htm

Orlando Chapter of the Association of Corporate Growth - Doing Business in China

As the world's most populous countries and one of our most relevant trading partners, China is an important market. Join us to hear how you can take advantage of this growth opportunity. Our panel of experts will answer questions on the international business landscape and investment opportunity.

ACG Orlando featured guests are:

David Alexander, BaySource

Brian Su, Artisian Business Group

Jim Gaynor, LightPath Technologies

Wednesday, January 21

5:30 to 7:30 pm

On-site Registration Avaiable.

Members: $55 Non-Members: $65 (cash or checks only please)

New Location - Sheraton Orlando Downtown

Bank of China report: China to see more interest cuts in 2009

China will continue to see more interest cuts throughout 2009 to enhance market fluidity, according to an economic outlook released by the Bank of China (BOC) here on Monday.

The country's major lender expected the People's Bank of China (PBOC), or the central bank, to lower the benchmark interest rates of both deposit and credit to 1.44 percent and 4.5 percent respectively.

The benchmark deposit and credit rates now stand at 2.25 percent and 5.31 percent respectively after five cuts within three consecutive months from last September.

The PBOC is also expected to further lower the required reserve ratio to 10 percent this year from the current 14.5 percent. The central bank has already conducted four similar cuts since last October to encourage more bank lending for industries thirst for capital.

The country's fiscal deficit is estimated to reach 500 billion yuan (73 billion U.S. dollars) in 2009, up 178 percent from last year's 180 billion yuan, as the government plans to expend billions of dollars on state projects to boost economy.

Despite the four-trillion yuan stimulus package initiated by the government to boost domestic demand, the BOC report said China would not be immune to a global recession. The country would suffer further economic downturn before seeing signs of recovery in 2010.

The bank expected the economic growth to slow to about 8 percent this year, compared with the 13 percent historical peak in 2007.

Chinese premier urges steps to reverse economic slowdown trend

Chinese Premier Wen Jiabao on Monday called for more steps in the first quarter this year to reverse the trend of economic slowdown as soon as possible and realize a good start for the whole of 2009.

Wen made the remarks during the second plenary meeting of the State Council, or the Cabinet. The meeting was held here Monday.

Chinese Premier Wen Jiabao presides over the second plenary meeting of the State Council, or the Cabinet, in Beijing, capital of China, Jan. 19, 2009. Chinese Premier Wen Jiabao on Monday called for more steps in the first quarter this year to reverse the trend of economic slowdown as soon as possible and realize a good start for the whole 2009. (Xinhua/Huang Jingwen)

Please log on http://www.midwestUSAChina.com

Nearly 1,000 toy exporters shut down in Southern China in 2008

Product recalls, rising production costs and the global financial crisis caused almost 1,000 Chinese toy exporters in just one province to shut down last year.

According to data released Saturday by Huangpu Customs, 922 toy exporters in Guangdong Province closed operations in 2008.

That leaves the area with 2,167 toy exporters compared with the 3,089 that were operating in late 2007.

Dongguan, the province's leading toy base, had more than 4,000 factories and some 2,000 suppliers at its peak in 2001.

The numbers began to drop about two years ago.

Rising prices for raw material and labor, along with stronger Chinese currency raised production costs by 25 percent for most companies, according to Li Zhuoming, head of the Guangdong Toy Association.

Large quality recalls by international toy giants, including Mattel Inc., also hurt the industry as Western countries raised standards to ensure toy safety.

The financial crisis compounded the situation as consumption fell and fewer orders came in.

Just in Dongguan, about 20 percent of the small toy factories closed last year, according to Huangpu Customs.

China is the world's largest producer and exporter of toys, with Guangdong alone contributing about 70 percent of the overall output.

In 2008, Guangdong exported 6.1 billion U.S. dollars worth of toys, up 3.6 percent from 2007. The growth rate for 2008, however, was 19 percentage points smaller than that in the previous year.

China to almost double railway investment in 2009

Amid a surge in planned infrastructure projects next year aimed at boosting domestic demand, China plans to almost double its investment in railways to about 600 billion yuan (87.9 billion U.S. dollars). The money is part of the 4-trillion-yuan stimulus package announced by the government earlier this year. In 2008, China spent 330 billion yuan on railways, according to a national conference on railway construction held here Wednesday. Part of next year's 600 billion yuan would be used to build a total of 5,148 km of new rails, said Minister of Railways Liu Zhijun at the meeting. The money will also help put five passenger-dedicated, high-speed lines into operation next year, according to Liu. These rails will link the central city of Wuhan to the southern city of Guangzhou; Zhengzhou in central Henan Province to Xi'an in northwest Shaanxi Province; Ningbo to Wenzhou, both in east China's Zhejiang Province; Wenzhou to Fuzhou in southern Fujian Province; and Fuzhou to Xiamen, also in Fujian. The ministry also planned to start 70 new projects next year with part of the money. Those projects will need a total investment of 1.5 trillion yuan to be completed, Liu said. RAIL TRANSPORT STRAIN TO BE EASED Liu also predicted railway travel would be much easier by 2012. Currently, there are not enough seats for all the people who want to travel, especially during the Spring Festival every year, when millions are on the move. "There could be a historical change in the country's railway transport by 2012. The bottle-neck restraints both in passenger and cargo transportation could be removed," he said. Railways inside the country would reach 110,000 km by 2012. About 13,000 km of passenger lines, which allow trains to travel between 200 to 350 km per hour, would be put into use. "Such coverage of passenger rails should be able to ensure that passenger needs are satisfied," he said Rail lines across the country added up to 78,000 km at the end of 2007. The ministry also plans to add more rails to busy routes and to provide separate rails for passenger and cargo transport. This should also help boost transport capacity and efficiency by 2012. Liu envisioned inter-city rail systems would be put into place by 2012 in populous regions, such as the Shanghai-led Yangtze River Delta, Guangzhou-centered Pearl River Delta and Beijing-led Bohai areas. Construction on railways began to boom in China after the country initiated a mid- and long-term plan in 2004. Liu said the country revised the plan this year so the distance of rail lines would increase to 120,000 km by 2020, from the original goal of 100,000 km. The country also raised rail speeds to help with passenger flow. The latest change came in April last year. About 1.46 billion people traveled by rail this year, up 10.9 percent from last year. Both transport capacity and efficiency had improved after train speeds increased, Liu said. In addition, 3.3 billion tonnes of cargo had been delivered by rail, up 4.9 percent year on year. Log on http://www.midwestUSAChina.com.

China's external trade estimated to grow 18% in 2008

China's foreign trade probably reached 2.55 trillion U.S. dollars last year, up 18 percent from 2007, according to an analysis released on Sunday by the General Administration of Customs. The trade surplus was about 290 billion U.S. dollars, it said. In the first 11 months of 2008, external trade was 2.38 trillion U.S. dollars, up 20.9 percent year-on-year. The growth rate was 2.6 percentage points below the year-earlier level. The 11-month trade surplus was 255.95 billion U.S. dollars, up 6.9 percent year-on-year. Customs officials said that because of the worsening financial crisis and ensuing global recession, China's foreign trade fell 9 percent last November year-on-year, the first monthly decline since October 2001. During November, exports fell 2.2 percent, vs. growth of 19.1 percent in October, while imports slid 17.9 percent, vs. a rise of15.5 percent a month earlier. The report predicted that as the financial crisis further affected the real economy and external demand shrank, China's exports would decline further. Log on http://www.midwestUSAChina.com.