US Dollar Exchange Rates of 09th December 2016
China Yuan 6.9077
Report from China
Indicators suggest economy stabilising
Economic data from the National Bureau of Statistics
(NBS), which included industrial output and fixed-asset
investment, have been interpreted as providing evidence of
a stabilisation of the
economy and of progress in economic
The press release from the NBS reports industrial output
expanding 6.2 percent year-on-year in November boosted
by output from technology companies and the car industry.
In related news, the November manufacturing purchasing
managers index (PMI) came in at 51.7%, an improvement
over the previous month.
The PMI of large-sized and medium-sized enterprises
were 53.4 and 50.1% respectively and both were above the
Among the five sub-indices comprising PMI, the
production index and new orders index were higher than
the threshold while the employed person index, main raw
materials inventory index and supplier delivery time index
were lower than the threshold.
US group seeks antidumping duty on Chinese plywood
US hardwood plywood manufacturers have again
submitted a petition to their government seeking duties on
hardwood plywood from China.
On 9 December 2016 the US Department of Commerce
confirmed initiation of an antidumping duty and
countervailing duty (AD/CVD) investigation of imports of
Chinese plywood. The US International Trade
Commission will make its preliminary assessment in early
January 2017. If cause is found investigations will
continue and a preliminary CVD will be announced in
February 2017 and its preliminary AD determinations in
A Chinese spokesperson called on the US to comply with
relevant international obligations in the process of dealing
with this case and that investigations should be carried out
in accordance with the WTO rules.
For more see:
In related news China has called on the US and EU to stop
the practice of using prices of products from third party
countries in anti-dumping assessments (the so called
analogue country model). An official complaint has been
lodged by China with the WTO according to media
Sea/rail transport the first choice for enterprises
A cooperation memorandum was recently signed between
Ganzhou Rail Bureau, the Nanchang Rail Bureau of
Jiangxi Province and Zhangzhou Development Zone
wharf in Fujian Province. The deal sets out how the three
will develop a new mechanism for joint quarantine
assessment and processing.
Imported timbers arrive at the Zhangzhou Development
Zone wharf and are transported directly to the Ganzhou
International Port by rail and the cooperative arrangement
on quarantine is the first between ports in Jiangxi and
The combined sea/rail transport model has become the
first choice for most enterprises as it cuts costs and is
convenient requiring only one quarantine declaration, one
inspection and one transport pass. It has been estimated
that freight volumes by this sea/rail mode will exceed
50,000 tonnes this year and rise to 150,000 tonnes in 2017.
Ice cream sticks shipped worldwide
18 tonnes of ice cream sticks were recently exported to
Guatemala and Saudi Arabia from Manzhouli Port. This is
the first time for wood products of the port to be exported
to the Middle East. Up to now, ice cream sticks shipped
from Manzhouli Port have been exported mainly to India,
Japan, South Korea and Indonesia, Australia, New
Zealand and Costa Rica.
In order to encourage exports via the port the Manzhouli
Entry-Exit Inspection and Quarantine Bureau offers
advice, information, technical services and marketing
suggestions to enterprises.
Dafeng port the largest timber processing and trade
base in East China
According to local analysts the development of the timber
industry around Dafeng Port benefits from competitive
advantages in terms of land resources, shipping costs,
traffic environment and trade developments.
Dafeng Port is a sea port and has been listed by the state
government as one of the main ports along the east coast
of China. The district has been included in the Shanghai
Economical Zone and the Yangtze Delta Economical
The area for development at Dafeng Port extends to
around 800 hectares and prices for land on this site are
lower than in surrounding areas.
The Port boasts 18 berths capable of handling some
200,000 containers. Dafeng Port soon be linked to the
high-speed rail network and the timber industry zone will
be connected to 11 provinces and cities by sea/rail
transport. The inspection and quarantine treatment centre
for imported timbers has been completed and underwent
trials in 2106.
Currently, some 60 enterprises with a combined output of
2 million cubic metres of wood products have settled in
the Port¡¯s timber industry zone. It is thought by local
analysts that Dafeng Port will become the largest timber
processing and trade base in East China.