US Dollar Exchange Rates of 25th February
China Yuan 6.6894
Report from China
Regulatory body targets woodbased panels
China¡¯s new market regulator, the State Administration for
Market Regulation (SAMR) recently published a
catalogue detailing which industrial products will fall
under its supervision. Wood-based panels and wood
flooring are listed in the catalogue.
SAMR is a result of the reshuffling of several government
agencies undertaken in 2018 aimed at elimination of
duplicated effort, streamlining regulations and improving
coordination between ministries. SAMR will oversee
market controls such as regulating anti-monopoly
behavior, intellectual property rights, drug safety
supervision and the issuance of business licenses.
Profitability of timber enterprises increased in 2018
According to the National Statistics Bureau, profits made
by industrial enterprises (with an output value of RMB 5
million plus) was RMB6,635 billion, a year-on-year
increase of 10%.
Of 41 industries surveyed the profits of 32 rose and for 9
there was a decline in 2018. The annual operating incomes
of furniture manufacturers in 2018 rose 4.5% to RMB708
billion and the annual profit of furniture manufacture in
2018 rose 4.3% to RMB43 billion.
The annual operating incomes of timber processors as a
whole rose 2% in 2018 to RMB921 billion but profit
levels fell 1.5%.
The costs of producing furniture in 2018 rose 3.8% to
RMB590 while the cost of production in timber
China¡¯s first plywood mill in Liberia
According to the Liberian media, China is about to
establish its first plywood mill in the country. The
plywood mill will be built by Shangyou Wood Industry
Development Co., Ltd, one of China¡¯s rubberwood
The plywood mill will go into operation by 2020.
Speaking to the press in Liberia a company official said it
will be hard to find enough good quality rubberwood for
milling in Liberia but that the company is optimistic on
Steady growth in value of forest sector output
According to the State Forestry and Grassland
Administration the total output value of the forest industry
sector reached RMB7.33 trillion in 2018, a year on year
increase of almost 3%. The value of forest products trade
(import and export) totalled US$160 billion.
The scale of China's forest industry has been continuously
expanding and its industrial structure has gradually
improved. The primary and secondary industries have
made steady progress and the growth of the tertiary
industry represented by forest ecotourism and health care
sector has seen remarkable growth at around 20% in 2018.
In promoting the development of the forestry sector, the
State Forestry and Grassland Administration identified a
number of national forestry demonstration zones,
economic forests and non-forest demonstration bases as
well as key national enterprises.
The State Forestry and Grassland Administration has
committed to promote national forest ecological labelled
products, improve forest product standards and quality
inspection and expand certification systems.
The State Forestry and Grassland Administration ia also
committed to introduce supportive policies which will
include subsidy mechanisms for afforestation, forest
tending and loans for relevant projects. Funds will also be
available to address poverty alleviation and further
expansion of processing.