Monthly Archives: November 2011
1. Cover story
2. Economy outlook
3. Financial strategy
4. Legal spotlight
5. Point of interest
7. Remark from editor
November 21 of 2011 marked the conclusion of the 22nd session of the U.S.-China Joint Commission on Commerce and Trade (JCCT) in Chengdu, China. Established in 1983, the JCCT is the main forum for addressing bilateral trade and investment issues and promoting commercial opportunities between the United States and China.
U.S. Secretary of Commerce John Bryson and United States Trade Representative Ron Kirk co-chaired the JCCT along with Chinese Vice Premier Wang Qishan. U.S. Secretary of Agriculture Tom Vilsack also participated in the discussions. Continue reading
Taiwan’s economic growth for 2011 is projected at 4.51 percent, down 0.05 percentage points from the October estimate, while gross domestic product per capita is expected to reach US$20,246, according to the Directorate-General of Budget, Accounting and Statistics (DGBAS) on Nov. 24. Continue reading
MOFCOM released, on November 11, Report on Chinese Foreign Trade Development (Autumn 2011). It is a review on China’s foreign trade in the first three quarters, and a projection for the whole year and a outlook in 2012.
According to the report, new issues cropped up in domestic economic development with a complex and ever-changing international situation, China laid stress in foreign trade on “stabilizing growth, adjusting structure and promoting balance”. Foreign trade policies remain stable in the main, growth of import and export are steady and rapid, trade structure keeps optimizing, development of foreign trade become more balanced, and progress are made in transforming the pattern of foreign trade. It’s estimated that the growth rate of China’s foreign trade will be high first and low later, import and export of the year could amount to US $3.5 trillion and an growth of 20%. Continue reading
China and ASEAN signed the Protocol on Enforcement of the Second Package of Specific Commitments under the Agreement of Trade in Services of ACFTA
Chinese Minister of Commerce Chen Deming, while attending the APEC Ministerial Meeting inHawaii, met respectively with Indonesian Trade Minister Gita Wirijawan and Thai Deputy Prime Minister and Minister of Commerce Kittirat Na Ranong on November 11. According to Chen Deming, economic and trade cooperation between China and ASEAN countries is increasingly expanding and becoming closer under the framework of China – ASEAN Free Trade Area (FTA), which accords with the common interests of the two sides, and has brought benefits to all our countries. Continue reading
China Shanghai International Arts Festival (CSIAF) is the only state-level International Arts Festival hosted by the Ministry of Culture of the People’s Republic of China and organized by Shanghai Municipal People’s Government. Since 1999, CSIAF, observing the commitment to both innovation and the classics, has successfully been held for thirteen years in a row. Continue reading
Han Zheng, a graduate with a Master’s in Economics from East China Normal University in 1994 and a senior economist, was born in Cixi County, Zhejiang Province in April 1954. He is currently Deputy Secretary of the CPC Shanghai Committee and Mayor of Shanghai. Continue reading
US President Obama advocated joining the Trans-Pacific Partnership (TPP) in the 2011 annual summit of Asia-Pacific Economic Cooperation (APEC). All of a sudden, everybody is asking what TPP is.
According to Wikipedia, “TPP also known as the Trans-Pacific Strategic Economic Partnership Agreement is a multilateral free trade agreement that aims to further liberalize the economies of the Asia-Pacific region. The original agreement between the countries of Brunei, Chile, New Zealand and Singapore was signed on June 3, 2005, and entered into force on May 28, 2006. Six countries –Australia, Malaysia, Peru, Japan, United States, and Vietnam– are negotiating to join the group. Although all original and negotiating parties are members of the Asia-Pacific Economic Cooperation (APEC), the TPP is not an APEC initiative. However, it is considered as a pathfinder for the proposed Free Trade Area of the Asia Pacific (FTAAP), an APEC initiative. TPP negotiations have occurred on the sidelines of APEC summits since 2002. The objective of the original agreement was to eliminate 90 percent of all tariffs between member countries by January 1, 2006, and reduce all trade tariffs to zero by the year 2015. It is a comprehensive agreement covering all the main pillars of a free trade agreement, including trade in goods, rules of origin, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, trade in services, intellectual property, government procurement and competition policy.” Continue reading