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Saturday, December 23, 2017

Press Release of the Opening of the 119th Session of China Import and Export Fair

Sunchine Inspection: This article of Canton Fair, be worth to recommend.

Mr. Xu Bing, spokesperson of the Canton Fair, Deputy Director General of China Foreign Trade Centre
(Apr. 14^th, 2016, Guangzhou)

Dear friends from the press, ladies and gentlemen,

Good morning! Welcome to the press conference for the opening of the 119^th session of China Import and Export Fair. I would like to take this opportunity to extend our heartfelt gratitude to the domestic and foreign media for your support and interest for the development of the Canton Fair.

With intense but orderly preparation, we are ready for the 119^th Canton Fair, which will open tomorrow.

Nowadays, faced by the complex and demanding situation at home and abroad as well as the mounting downward pressure, China’s foreign trade still have advantages of comprehensive competence and sustainability. The supporting policy for China’s foreign trade is unchanged; The long-term economic fundamentals remain sound; China still has industrial complementary advantages with developed and developing countries; the driving force for foreign trade structural adjustment is quickly shifting. As the barometer of China’s foreign trade, it is crucial to organize the 119^thCanton Fair well for its more remarkable and expected position under such complex circumstances.

The 119^th Canton Fair bears the overall landscape of China’s foreign trade development in mind, and actively implements the concept of “innovative, coordinated, green, open and shared development”. We are committed to the structural reform of the supply front of foreign trade, following the direction of specialization, marketization, branding, internationalization and informatization on the basis of the stability of the overall exhibition pattern. Driven by expertise and wisdom, the Canton Fair puts effort on improving the management, services, structure and quality of exhibitors and their products to build a “Smart Canton Fair” and a “Green Canton Fair”. By doing so, we hope that we can make new contributions to the steady development and structural adjustment of China’s foreign trade.

Now, I will brief you on the basic facts of the 119^th Canton Fair.

1. Exhibition pattern and layout remain stable

The total exhibition area of this session is 1.18 million square meters, and the number of booths is 60,233. There are 24,514 exhibitors from home and abroad.

In this session, there are 59,243 booths and 23,904 exhibitors in the National Pavilion. 16 categories of products will be exhibited in 50 sections. The booth arrangement is as follows: 11,925 brand booths and 47,318 general booths, taking up 20% and 80% respectively. And the numbers of exhibitors in 3 phases are: 8,563 companies in Phase 1, 7,148 in Phase 2, and 8,193 in Phase 3.

In this session, we will continue to set up the International Pavilion in Phase 1 and Phase 3, with an area of 20,000 square meters. There are 990 booths and 6 product areas; and there are 610 enterprises from 48 countries and regions as well as 11 national and regional trade delegations. We will continue to integrate exhibition in the National Pavilion and the International Pavilion in this session. Exhibitors of the household appliances and household textile sectors from home and abroad will be competing on the same stage.

2.We will carry out the reform of the Canton Fair’s supply front and improve the professional level of exhibition.

By carrying out the reform of the supply front and improving the professional level of the exhibition, we have optimized the quality and structure of the companies and exhibits. The 119^th Canton Fair is developed into a more specialized exhibition in the following 3 ways. First, we improve the regulations and procedures of the exhibition management. According to the changes of brand exhibitors, we improve the practicing rules for the booth quantity arrangement. Booth application is available earlier and we release the name list of participating exhibitors one month beforehand. Second, we promote specialized divisions of the exhibits. Based on purchase needs, we have set up 124 divisions in 27 sections, 10 more than last session, among which the bicycle and motorcycle sections will have divisions for the first time. Sections of building materials, hardware, cloths, textiles and garments will be further optimized. Third, we will put more effort on supporting the new subjects. We will perfect the booth arrangement plan for new energy and pet products. In this session, sections of new energy, pet products and outdoor spa facilities have attracted 22 new exhibitors, taking up for 11.5%, and including some domestic enterprises with large sales volume. Exhibitors are more diversified.

We warmly welcome exhibitors from both the developed countries as well as countries along the Belt and Road. There are altogether 374 exhibitors from 33 countries and regions along the Belt and Road, occupying 654 booths and taking up 61% of the exhibitors and 66% of the booths in the International Pavilion. In terms of attracting domestic buyers, we will strengthen the promotion in South China. Moreover, we will hold various forms of match-making activities targeting hot spots of trade in International Pavilion to better the exhibitors’ and buyers’ participating experience.

3. We’ve come up with new ways of promotion and built a precision marketing system

In terms of overseas promotion efforts, we make innovations led by internet application and improve the promotion results by precision marketing. We have held 15 video conferences in 15 countries and regions. We’ve strengthened promotion in countries along the One Belt One Road by holding 9 video conferences in these countries. We’ve cooperated with Qatar Airways for the first time to explore the market in middle-east and Africa. With Facebook and LinkedIn as the key, we’ve built a social media platform connecting 6 international famous social media, achieving all-round promotion in international social media community. We’ve forged ahead to launch “i-Share” series activities. With the help of “Exhibitor Preview” platform, we’ve promoted online match-making and upgraded the informatization level of Multinationals Sourcing Service.

4. We will enrich the function of Canton Fair and promote industrial communication

During the 119^th Canton Fair we will facilitate interaction between exhibitions and conferences, and strengthen industrial communication and brand promotion. In accordance with the government policy, market hot spots and demand, there are in total about 60 conferences and forums held on the topics of international market, industry summit, design and innovation, brand promotion, market trend, and technology research and development, along with a series of events about design exhibit and design match-making.

Canton Fair Design Awards (CF Awards) 2016 is upgraded with new measures. It will set up awards according to 7 product categories for the first time, and it will enrich the composition of the judging panel as well as the subsequent promotional awards. The Canton Fair Product Design and Trade Promotion Centre (PDC) will organize a series of events including design match-making, fashion show and design gathering, providing an extended communication platform for the designers and the brand companies. 100 design companies and institutions from 11 countries and regions will attend the 119^th Canton Fair, covering an exhibition area of 1,622.25 square meters, an increase compared with the previous session.

5. We will drive the “Canton Fair + Internet” initiative and build a “Smart Canton Fair”

We will continue to build the “Smart Canton Fair” and cultivate Canton Fair’s new competitive advantage in the internet age. First, we will optimize the “Exhibitors and Products List” function and “Highlight Products” column to display brand enterprise in advance and help buyers to acquire information about exhibitors and products. The “Highlight Products” covers all the brand enterprises and leading enterprises of new subjects, with 17,000 exhibits. Second, we will integrate the service functions of Canton Fair official Wechat accounts by setting up groups of official accounts with comprehensive services and wide coverage. Third, the service quality of “Internet Service” is enhanced to build better on-site service center and experience marketing center. Forth, we will perfect the Canton Fair official service system of business travel to provide more comprehensive service including the online booking of air tickets and car rental. Fifth, we will optimize the function of “Easy Exhibitor” and improve the information level of exhibition management and service. Sixth, we expand the functions of online management service platform by adding the service functions of information collection, transmission, audition, feedback, application and statistical review of information. Seventh, we will introduce professional service providers to improve the overseas mail delivery rate. Finally, we promote the construction of the supporting system for “Smart Canton Fair.”

6. We are aimed at protecting the intellectual property rights and constructing an equal trade environment

In this session, a “Notice” will be sent in the Easy Exhibitor platform to exhibitors with alleged infringement records and trade disputes to strengthen their self-correction and avoid infringement. At the same time, we will continue to invite law enforcement officers of IPR and experts of trade disputes arbitration and mediation to handle the complaints.

7. We will boost the green development, and ensure the security of the fair

The 119^th Canton Fair will carry out the Green Development Plan of Canton Fair and implement the incentives in order to achieve the coverage of 90% green booths. To enhance the green arrangement of the exhibition and the exhibition effect, we will increase the threshold for the qualification of the enterprises for booth construction, and introduce a batch of enterprises which are good at green design and construction. In this session, we will continue to build green booths along the main aisles and make it 100% coverage in all booths. What’s more, we are striving for the target of overall green booths for brand companies.

In this session, we will put in place the following security measures. The first is to do the risk assessment of epidemic situation, complete the emergency management and report system so as to better deal with the emergencies. The second is to improve the security and protection system of the complex, making sure that the whole complex is monitored through the video surveillance system. The third is to perfect the food security system and strengthen the supervision of the restaurants in the complex, ensuring the food safety of the participants. The fourth is to maintain, reconstruct and update the fire control facilities, laying the solid foundation of the complex safety.

8. We will reduce the cost of the exhibition and enhance the confidence of the exhibitors

Consistent with the spirit of the government policies in support of the stable development and the structural adjustment of the foreign trade, the Ministry of Commerce of China (MOFCOM) recently announces that the 119^th Canton Fair will further reduce the exhibition cost for the enterprises in order to help them explore the international market. The huge reduction on cost is unprecedented. The charge of each booth in National Pavilion has decreased by 4000 Yuan in average, 18% down compared with the 117^th session, totally reducing 240 million Yuan on cost for the exhibitors. The charge reduction for each booth in area C is 5550 yuan, and in area A and area B is 3350 yuan. In addition, MOFCOM requires that all departments shall not charge any other fees to exhibitors, and any one violating the rule will be punished and circulated a notice of criticism.

At last, I’d like to brief you the major events in the next few days.

Opening Reception of the 119^th Canton Fair will be held in Westin Hotel in the evening of April 14^th.

Chinese Home Appliances and Electronics Summit will be held in the No.8 Meeting Room, B floor, Area B in the afternoon of April 16^th.

Canton Fair (Egypt) International Market Forum will be held in the No.8 Meeting Room, B floor, Area B in the afternoon of April 17^th.

The Belt and Road Initiative: Focus on India will be held in the No.2 Meeting Room, C floor, Area B in the afternoon of April 18^th.

Dear friends, to hold the 119^th Canton Fair successfully bears great significance in stabilizing growth, transformation and upgrading of China’s foreign trade. We believe that under the leadership of Party Committee of the Ministry of Commerce and the People’s Government of Guangdong Province, with joint efforts of all the business partners, we will make the 119^th Canton Fair a complete success.

Welcome to cover the 119^th session of the Canton Fair.

Thank you!

Article Source: cantonfair

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UK pay squeeze tightens but unemployment dips

Wages continue to lag behind the cost of living in the UK, while unemployment remains at a 42-year low.

Workers' earnings, excluding bonuses, rose 2.2% in the three months to September compared with a year ago, the Office for National Statistics said.

But they fell 0.5% in real terms when accounting for inflation, marking seven months of negative pay growth.

The number of jobless - people not in work but seeking a job - fell 59,000 to 1.42 million during the period.

With inflation at a five-and-a-half-year high of 3% in October, pay is failing to keep up with higher prices.

UK pay squeeze tightens but unemployment dips33

The unemployment rate remained steady at 4.3% - its lowest rate since 1975 - and down from 4.8% a year earlier.

Minister for Employment Damian Hinds said the unemployment figures showed the "strength of the economy".

"A near-record number of people are now in work," he said. "Everyone should be given the opportunity to find work and enjoy the stability of a regular pay packet."

At the same time, the number of people in work dropped to 32 million, down 14,000 from the last quarter, according to ONS data.

Labour MP Debbie Abrahams, shadow work and pensions secretary, said the figures were further evidence of "Tory economic failure".

She said: "Both employment and real wages are falling while the price of household essentials balloons, leaving millions of people worse off than they were in 2010."

Matt Hughes, a senior ONS statistician, said employment had declined after two years of "almost uninterrupted growth", but was still higher than last year.

The last time there was a bigger fall in employment was in April to June 2015, when the number of people in work dropped by 45,000, according to the ONS.

The simultaneous drop in the number of workers and unemployed people is due to the rise in people who are classed as "economically inactive" - those not working and not seeking or available to work.

This includes people studying, retirees, the long-term sick, or those looking after family, and rose by 117,000 to 8.8 million over the quarter.

Mr Hughes said: "There was a rise in the number of people who were neither working nor looking for a job - so-called economically inactive people."

Separate ONS data showed a bright spot for productivity, which increased by 0.9% in the latest three months - the strongest growth rate for six years.

But this follows a prolonged period of weak productivity since the financial crisis.

Productivity: A volatile measure

By BBC economics editor Kamal Ahmed:

Any port in a storm, but it is sensible to put today's leap in productivity in context.

After six months of negative figures (-0.5% January to March, -0.1% April to June), today's +0.9% jump in productivity is undoubtedly better news.

But it would need at least two more quarters of similarly positive numbers to discern whether this is just normal quarter-by-quarter volatility or the first signs that the productivity slump might be starting to turn.

The ONS measures productivity by dividing the number of hours worked by what is called Gross Value Added, the value of goods and services produced by the UK economy.

It has leapt this quarter because working hours have fallen slightly and economic growth is higher.

Whether we are actually producing more per hour worked - the key to wealth creation and better wages - will only become clear over the next six months.

ONS head of productivity Philip Wales said: "The medium-term picture continues to be one of productivity growing - but at a much slower rate than seen before the financial crisis."

The CBI's head of employment, Matthew Percival, thought the rise in productivity was "encouraging".

He said: "Businesses will be looking for the chancellor to cement progress in next week's Budget and maintain flexibility in the labour market, which remains a mainstay of the UK economy."

Fewer employed and unemployed?

By BBC business correspondent Jonty Bloom:

How can unemployment and the number of people in work drop at the same time?

The unemployment rate is a measure of those people who want to work - and cannot - but the employment rate is a measure of everyone in work.

So you could have a large number of people retiring and only some of them being replaced by unemployed people who are recruited to do their jobs.

Employment will fall, and so will unemployment.

In today's figures, the fall in employment seems to be concentrated amongst the 18-24 year olds, suggesting that part of the reason is that they are returning to education, although the figures are supposed to take such seasonal factors into account.

UK industrial output jumps in September

The UK's industrial output grew at its fastest pace so far this year in September, according to official figures.

Production rose by 0.7% compared with the month before, the Office for National Statistics (ONS) said, boosted by machinery and equipment output.

Separate data showed the UK's trade deficit in goods and services narrowed by more than expected in September.

However, construction output fell by 1.6% in the month, the ONS said.

'Mixed' outlook

The increase in industrial production was better than analysts' forecasts, and the fastest growth seen since December last year.

Manufacturing output - a subset of industrial output - also rose by 0.7% in September.

"Industrial production has risen for six consecutive months, a feat last achieved 23 years ago," said Samuel Tombs, chief UK economist at Pantheon Macroeconomics.

However, he added that the recovery in manufacturing output could be hit by recent rises in the oil price.

Howard Archer, chief economic adviser to the EY Item Club, said the outlook for manufacturing appeared "mixed".

Domestic conditions looked "challenging despite recent decent demand", he said.

"Increased prices for capital goods and big-ticket consumer durable goods, weakened consumer purchasing power, and economic and political uncertainty threaten to hamper manufacturers.

"On the export side, a very competitive pound and healthy global demand are helping UK manufacturers competing in foreign markets. The weakened pound also appears to be encouraging some companies to switch to domestic sources for supplies."

Image copyrightGETTY IMAGES

The UK's trade deficit in goods and services narrowed by £0.7bn between August and September 2017 to £2.75bn, mainly due to trade in goods exports increasing by £1.3bn.

Despite this, the UK's trade performance during the third quarter as a whole worsened, according to the ONS data.

In the three months to September 2017, the total UK trade deficit widened by £3bn to £9.5bn, mainly due to a increased imports, including of machinery, non-monetary gold and fuels.

The construction output data was much weaker than expected. As well as the sharp fall in September from August, output was only up 1.1% from a year earlier - the weakest annual rate since March last year.

The ONS said the latest economic data did not suggest there would be any change to its initial estimate that the UK economy grew 0.4% in the third quarter of the year.

Factory activity accelerated in November, survey says

UK manufacturing activity grew at its fastest pace in more than four years last month, according to a closely watched survey.

The Purchasing Managers' Index index compiled by IHS/Markit hit 58.2 in November, the best level in 51 months.

The report said exports played a "big part" in the expansion.

Separate official data showed that inflows of foreign investment into the UK hit a record last year, boosted by several very large takeover deals.

The Office for National Statistics recorded inward investment of £145.6bn in 2016, up from £25.3bn in 2015.

The investment figures were lifted by some large deals that were completed in 2016, including:

SAB Miller (brewer) bought by Anheuser-Busch InBev
ARM Holdings (chip designer) bought by Softbank
BG Group (energy firm) bought by Royal Dutch Shell

The UK voted to leave the European Union in June 2016, but economists say that vote probably did not have much affect on these figures.

Paul Hollingsworth, UK Economist at Capital Economics, pointed out that the big deals were likely to have been planned well in advance of the vote.

He also said it was impossible to say if inflows of investment would have been even greater without the Brexit vote.

"I think 2017 could be the more challenging year for FDI (foreign direct investment), though, as Brexit draws closer," Mr Hollingsworth said.

'Mixed' outlook

The compilers of the purchasing managers' survey said the results indicated UK manufacturing had "shifted up a gear" last month.

At 58.2, the PMI index suggests strong growth as any reading above 50 indicates expansion.

"The domestic market remained strong but new export orders primarily from the US and Europe were a big part of this overall picture of success," said Duncan Brock, who contributed to the report.

But some economists question whether UK factories can maintain their current pace.

"The outlook for manufacturing appears mixed. Domestic conditions look challenging despite November's healthy orders," said Howard Archer, chief economic advisor to the EY Item Club.

Ikea's tax affairs to be investigated by the EU

The European Commission is to open an in-depth investigation into Ikea's corporate tax structure.

The Commission said Dutch-based Inter Ikea, one of the Swedish giant's two divisions, may have been given unfair tax advantages by the Netherlands.

European Competition Commissioner Margrethe Vestager said all firms "big or small, multinational or not, should pay their fair share of tax".

The EU will look at whether Ikea's tax affairs breach EU rules on state aid.

Under EU law, member states cannot give selective tax benefits to multinational groups that are not available to other firms.

"The Commission has concerns that two [Dutch] tax rulings may have given Inter Ikea Systems an unfair advantage compared to other companies," it said.

The move is the latest crackdown by the EU competition authority on tax deals between EU countries and multi-nationals.

A spokesman for Inter Ikea Group said the way it had been taxed "has in our view been in accordance with EU rules".

"It is good if the investigation can bring clarity and confirm that," he added.

Two tax deals

The Commission's Ikea inquiry is focused on two tax agreements between the Netherlands and Inter Ikea which it alleges "have significantly reduced" the firm's taxable profits in the Netherlands.

Netherlands-based Inter Ikea operates the franchise business of Ikea. It collects royalties from other parts of Ikea and pays little tax on the proceeds.

The Commission says that in 2006, a Dutch tax ruling enabled Inter Ikea to pay a "significant" annual licence fee to another Ikea unit in Luxembourg, thereby shifting revenue to a jurisdiction where it remained untaxed.

Then in 2011, after the Luxembourg tax scheme was deemed illegal, Inter Ikea arranged a second tax ruling with the Netherlands.

This ruling focused on a loan deal with an Ikea unit in Liechtenstein, which enabled Inter Ikea to shift "a significant part of its franchise profits" to a low-tax jurisdiction.

A senior Dutch EU official said it would look at the details of the case.

"The Netherlands fully supports the Commission's work," they added.

Richard Murphy, professor of practice in international political economy at City University, said Ikea's tax arrangements were "unusually complicated" and as a result, an EU probe was "inevitable".

"Is their level of tax disproportionate to their overall activity in a country is undoubtedly what [the European Commission] are looking at here," he said.

Analysis by BBC business correspondent Jonty Bloom

Image copyrightGETTY IMAGES

The European Commission is not so much worried about different countries in the European Union having different tax policies, in fact considering it is supposed to be one, seamless market, there are a whole range of company tax rates and policies across the EU.

What it does not like are tax deals that are available for one type of company, huge multi-nationals, but not to everyone else.

Your local High Street furniture store has enough trouble competing with the likes of Ikea, with its massive stores, name recognition, buying power and marketing budget, without Ikea also having access to tax breaks that it could never use.

That is why Ikea is just the latest in a long line of giant companies that the European Competition Commissioner Margrethe Vestager has gone after.

She has already had Amazon, McDonalds and Apple in her sights, and this is big-game hunting; Apple alone was found to have benefited to the tune of £11.5bn in unfair tax breaks.

Image copyright GETTY IMAGES

Image captionThe EU's competition chief Margrethe Vestager is worried giant firms are gaining unfair advantages over smaller rivals

The Commission has recently ordered various member states to collect billons of euros' worth of back taxes from Apple, Starbucks, Amazon and Fiat.

The European Commission is worried that giant companies gain an unfair advantage over smaller rivals which have no chance of using similar tax schemes.