MMH    Topics     Blogs

China builds relationship with neighbors


Latest Material Handling News

As noted in our news section, Intra-Asia shipping is booming. And while many trade warriors in the U.S. are having a hard time selling their mission to policy-makers, China is steadily conquering new markets.

Free trade is the highlight of the seventh China-ASEAN Expo (CAEXPO), which opened yesterday in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region.

The first expo held since the China-ASEAN Free Trade Area (CAFTA) was established in January, the EXPO attracted record numbers of businesses looking to take advantage of the new opportunities on offer.

China has removed tariffs on 91.5 percent of products imported from the 10 ASEAN countries, and the average tariff rate is down to 0.1 percent. The six original ASEAN countries, Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore and Thailand, have removed tariffs on 90 percent of Chinese commodities, and cut the average tariff level down to 0.6 percent. The four newer ASEAN countries – Viet Nam, Lao PDR, Cambodia and Myanmar – will achieve this goal in 2015.

From January to August this year China-ASEAN bilateral trade totaled US$185.4 billion, comprising imports worth $97.3 billion and exports worth $88.1 billion, up 54 percent and 40 percent over the same period last year respectively.

“ASEAN is China’s third largest importer and our fourth largest export market,” said Jia Guoyong, deputy director general of the Trade Development Bureau of China’s Ministry of Commerce. “CAFTA, is a new zone for bilateral trade, and will boost cooperation among China and ASEAN members.”

In the first half of 2010, ASEAN direct investment in China reached around $3.1 billion, while China’s non-financial direct investment in ASEAN economies was about US$1.2 billion. As of the end of June this year, cumulative investment volume totaled $69.4 billion.

With the expo as an important stimulus, enterprises from China and ASEAN will benefit from a potential market of 1.9 billion people, covering 11 countries, Jia said.
It is estimated that China-ASEAN bilateral trade will hit the $250 billion mark this year.

The six-day expo will run until October 24, and will center on the development of CAFTA and promotion of favorable trade and investment policies in member nations. With the theme of “free trade and new opportunities,” the expo includes a range of high-level forums on finance, agriculture, brand management, and trade association cooperation.

Commodities with low and zero tariffs, including machinery, electronics and construction materials, are expected to be a highlight of the expo.

For more Logistics Management coverage of “China” click here


Article Topics

   All topics

Blogs News & Resources

Latest in Materials Handling

Registration open for Pack Expo International 2024
Walmart chooses Swisslog AS/RS and software for third milk processing facility
NetLogistik partners with Vuzix subsidiary Moviynt to offer mobility solutions for warehouses
Materials Handling Robotics: The new world of heterogeneous robotic integration
BSLBATT is looking for new distributors and resellers worldwide
Lucas Watson appointed CSO for Körber’s Parcel Logistics business in North America
Hyster recognizes Dealers of Distinction for 2023
More Materials Handling

About the Author

Patrick Burnson's avatar
Patrick Burnson
Mr. Burnson is a widely-published writer and editor specializing in international trade, global logistics, and supply chain management. He is based in San Francisco, where he provides a Pacific Rim perspective on industry trends and forecasts.
Follow Modern Materials Handling on FaceBook

Subscribe to Materials Handling Magazine

Subscribe today!
Not a subscriber? Sign up today!
Subscribe today. It's FREE.
Find out what the world's most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today.

Latest Resources

Materials Handling Robotics: The new world of heterogeneous robotic integration
In this Special Digital Edition, the editorial staff of Modern curates the best robotics coverage over the past year to help track the evolution of this piping hot market.
Case study: Optimizing warehouse space, performance and sustainability
Optimize Parcel Packing to Reduce Costs
More resources

Latest Resources

2023 Automation Study: Usage & Implementation of Warehouse/DC Automation Solutions
2023 Automation Study: Usage & Implementation of Warehouse/DC Automation Solutions
This research was conducted by Peerless Research Group on behalf of Modern Materials Handling to assess usage and purchase intentions forautomation systems...
How Your Storage Practices Can Affect Your Pest Control Program
How Your Storage Practices Can Affect Your Pest Control Program
Discover how your storage practices could be affecting your pest control program and how to prevent pest infestations in your business. Join...

Warehousing Outlook 2023
Warehousing Outlook 2023
2023 is here, and so are new warehousing trends.
Extend the Life of Brownfield Warehouses
Extend the Life of Brownfield Warehouses
Today’s robotic and data-driven automation systems can minimize disruptions and improve the life and productivity of warehouse operations.
Power Supply in Overhead Cranes: Energy Chains vs. Festoons
Power Supply in Overhead Cranes: Energy Chains vs. Festoons
Download this white paper to learn more about how both systems compare.