Last Thursday (Nov 10,2016), one of our African customers booked our Business Guide Service in China, asking us to accompany him and audit the suppliers together in Tianjin for his copper wire scrap business. The supplier is a fully registered new exporter from Tianjin according to their Business License and Export License offered, they picked us up at the hotel with a car, took us to their office and warehouse, we checked the goods, discussed the trade terms, price and packages etc, everything seems to be very normal.
However, on the third day (Nov 12,2016), I took the customer to their office without informing the supplier of our arrival.(We were supposed to check their export qualifications in person.). When we reached their office during the work time that afternoon, everything shocked us. At the same address, on the same door, they changed their Company name, Logo and staff within 2 days ! I asked them for Ms Chen (the sales lady) and they said they did not know her! After that I called my colleagues to further investigate this supplier in China, noting that they used fake information in their export license. By then we came to a conclusion that this was a real business scammer in China.
Features of such business frauds are:
1. Fully registered NEW trade company and exporter but disguised as real manufacturers online;
2. Insist on using their own Shipping Agent;
3. Require 30% deposit in advance by T/T;
4. Offer high quality samples for FREE sometimes to gain trust from the clients;
5. Use very low prices to attract the clients worldwide. (Far below the market price in China.);
6. Scammers are normally from North China at present. According to the case-reports from our clients, Shijiazhuang, Zhengzhou, Qingdao, Dalian,Tianjin etc is notorious for such business scams in China.
Source: Verification Team, STIN Group (www.chinabizservices.com)
Tuesday, 15 November 2016
Saturday, 13 August 2016
Top 10 best China cities for start-up businesses
Chinadaily News: A list of 'Best cities for start-up businesses in Chinese mainland 2016' was jointly released on July 12 by Biaozhunpaiming, Tencent Research Institute and UR Work.
The list was made based on three criteria for start-up businesses - popularity, policy environment and intelligent support. Beijing tops the list with the highest score 96.448, almost 36 points higher than the second runner-up Shanghai.
Here is the list:
1 Beijing
Score: 96.448
2 Shanghai
Score: 59.2638
3 Shenzhen
Score: 51.2196
4 Hangzhou
Score: 42.1493
5 Guangzhou
Score: 41.2384
6 Tianjin
Score: 38.8829
7 Wuhan
Score: 36.1946
8 Suzhou
Score: 35.9827
9 Nanjing
Score: 35.5945
10 Chengdu
Score: 34.0449
Edited by STIN Sourcing Team
The list was made based on three criteria for start-up businesses - popularity, policy environment and intelligent support. Beijing tops the list with the highest score 96.448, almost 36 points higher than the second runner-up Shanghai.
Here is the list:
1 Beijing
Score: 96.448
2 Shanghai
Score: 59.2638
3 Shenzhen
Score: 51.2196
4 Hangzhou
Score: 42.1493
5 Guangzhou
Score: 41.2384
6 Tianjin
Score: 38.8829
7 Wuhan
Score: 36.1946
8 Suzhou
Score: 35.9827
9 Nanjing
Score: 35.5945
10 Chengdu
Score: 34.0449
Edited by STIN Sourcing Team
Monday, 27 June 2016
2016 Top 10 Social Media in China
Social Media, such as Facebook in the outside world, of Europe, USA and other parts of Asia has been also a hit in China.
However, the Chinese Internet Business has their own brand of Social Network. Running with hundreds of millions of users or subscribers, these media is a Gold mine to the e-Marketing Managers.
According to the market survey from Bosi, a local information agent in China, here is the TOP 10 Social Media in 2016:
1. WECHAT
http://weixin.qq.com
2. QZONE
http://qzone.qq.com
3. WEIBO
http://weibo.com
4. TIEBA
http://tieba.baidu.com
5. RENREN
www.renren.com
6. PENGYOU
www.pengyou.com
7. DOUBAN
www.douban.com
8. KAIXIN
www.kaixin001.com
9. ZHIHU
www.zhihu.com
10. TIANYA
www.tianya.cn
You can use above social network platforms to market your items or services in Mainland China.
Source: STIN service team
However, the Chinese Internet Business has their own brand of Social Network. Running with hundreds of millions of users or subscribers, these media is a Gold mine to the e-Marketing Managers.
According to the market survey from Bosi, a local information agent in China, here is the TOP 10 Social Media in 2016:
1. WECHAT
http://weixin.qq.com
2. QZONE
http://qzone.qq.com
3. WEIBO
http://weibo.com
4. TIEBA
http://tieba.baidu.com
5. RENREN
www.renren.com
6. PENGYOU
www.pengyou.com
7. DOUBAN
www.douban.com
8. KAIXIN
www.kaixin001.com
9. ZHIHU
www.zhihu.com
10. TIANYA
www.tianya.cn
You can use above social network platforms to market your items or services in Mainland China.
Source: STIN service team
Wednesday, 22 June 2016
Importing From China - Things That You Need to Know
Setting up a business comes with lots of responsibility. Once you're up and running, staying on top of your day-to-day operations can be a lot of work, and sourcing products to sell takes up valuable time and resources. China remains one of the world's most popular destinations for sourcing across every product category,but its unique marketplace can be difficult to negotiate if you know nothing about the business environment there.At every stage of the procurement process, it's important to get to grips with the peculiarities of the Chinese business world.
Selection of a qualified supplier
There are many ways for you to find out some qualified suppliers in China, the traditional way is to go and meet them at local trade fairs, say, Canton Fair, one of the largest trade fair on the globe.The best way to find some qualified suppliers is to source them at local manufacturing bases,in China, each city has their pillar industries, thus there are tens of hundreds of different manufacturing bases in China, please click here to find out some popular manufacturing bases in China.The most cost-saving way to source Chinese suppliers through online B2B platforms like Made-in-China,Globalsource or Alibaba etc, which allows you to search through high volumes of suppliers using a range of different criteria. It's fast, effective and will make it far easier to single out a few promising prospects from the thousands of companies out there. However,there might be lot of business scammers online as well,they can create anything online,some Chinese companies may have an untranslated or poorly translated website that doesn't tell you all you need, so if you can enlist someone to help you search in Chinese it could a worthwhile step.
Contact these suppliers, explain your business and get a sense of who is genuinely interested in you as a customer. The ones who reply promptly to emails and have all the information you ask for on hand are worth holding onto. Give them a detailed specification and ask for samples - and when they arrive, make sure you check the packaging and instructions as well as the build quality. Do they understand and meet all the right certification requirements for the market where you'll be selling the products? Are you sure that your supplier is a qualified factory? If you're not sure, you can simply check out their registered information with local officials or a Company Verification service from local experts in China.
Auditing of Chinese suppliers
In China,not all the factories or trade companies have the right or qualifications to do business with the overseas partners directly. On the one hand,some small factories or trade companies do not have their own Export License,they have to work with a qualified export agent to 'sell'their items. So legally a qualified exporter or export agent is your direct business partner in such cases. On the other hand,each exporter has their own business business scope, no exporter can export anything whatever you need, some items need special export quota or licenses from the government. If your order is small, you can try to verify their business license and export qualifications with local officials or verify them via a local expert in China like STIN. If your order is large enough, then an on-site third-party factory or supplier inspection service is very important to stop you from future trouble before you place any orders.
Communication with the suppliers
The most important skill you can learn is negotiation. Haggling over the price, minimum order quantity and other terms of your order is far more common in China, and if you're willing to drive a hard bargain you can make real savings from original quote.
Chinese manufacturers usually work on thin margins and quality does have a price, so don't get obsessed with chasing the cheapest price. Equally, you need to be realistic in your order estimates so they can work out exactly what they need to charge to avoid losing money.
Ideally, you would communicate in the same language; hiring a translator is often a necessary step. However,whenever you communicate, always make sure you send follow-up emails in which you reiterate what has already been agreed and ask them to do the same- this will cut down on the adverse impact of the language barrier.
Of course, you also need to make sure you have a contract drawn up by a legal practitioner or a professional purchasing agent in China who has good knowledge of Chinese trade so the terms are enforceable and comprehensive.
In the event of anything going wrong, it would be ideal to discuss the issue over dinner. But of course, that's unlikely to be an option, so Whatsapp, Wechat or Skype or something similar is the next best thing. Be prepared to wait until the end of the conversation to raise the difficult subject.
Quality control management
If you can visit the factory at least once during production, then do so before the order is shipped. Alternatively, if you'd like to save more time and cost, you can consider hiring a professional QC inspection company or sending a qualified person whom you trust. It may seem like you're wasting time and resources, but it will not be frowned upon in China and is vital to make sure everything is running smoothly.
Either way, you should already have an idea of the kind of quality to expect from the samples you've approved.
Payment and delivery
Paying in instalments and hold some back until the shipment has been delivered - a 30-70 percent split between order and delivery payments is common, but this is negotiable if you want to pay less upfront or increase the number of instalments so that some payment changes hands when the goods are received.
One of the most common arrangements in terms of shipping costs if “FOB Shenzhen”, where the supplier pays to get the goods to the port of Shenzhen and then you take over. But of course, this is up for discussion if you'd prefer different arrangements.
Generally, your main delivery options are by air or sea. Air transport is a better option for small volumes or high values, or even if your products happen to be small and delicate - it's faster and can often reduce the risk of damage. Ocean shipping takes longer but is better for bulky and heavier goods. Using a reputable logistics service is vital, since they'll usually be able to manage the whole process for you.
Take the hassle out of sourcing with the ONE-STOP STIN buying office service.
STIN buying office or purchasing agent service can solve the problems for the clients from the beginning to the end, covering: Selection of qualified suppliers; Payment Risk Control; Quality Control; Shipping and Logistics Support; and even after-sale services etc. By taking the stress out of sourcing your products, you'll save valuable time and resources that you can devote to your business. Find out more about how STIN services could help you here.
Source: Alibaba Forum and STIN service team
Selection of a qualified supplier
There are many ways for you to find out some qualified suppliers in China, the traditional way is to go and meet them at local trade fairs, say, Canton Fair, one of the largest trade fair on the globe.The best way to find some qualified suppliers is to source them at local manufacturing bases,in China, each city has their pillar industries, thus there are tens of hundreds of different manufacturing bases in China, please click here to find out some popular manufacturing bases in China.The most cost-saving way to source Chinese suppliers through online B2B platforms like Made-in-China,Globalsource or Alibaba etc, which allows you to search through high volumes of suppliers using a range of different criteria. It's fast, effective and will make it far easier to single out a few promising prospects from the thousands of companies out there. However,there might be lot of business scammers online as well,they can create anything online,some Chinese companies may have an untranslated or poorly translated website that doesn't tell you all you need, so if you can enlist someone to help you search in Chinese it could a worthwhile step.
Contact these suppliers, explain your business and get a sense of who is genuinely interested in you as a customer. The ones who reply promptly to emails and have all the information you ask for on hand are worth holding onto. Give them a detailed specification and ask for samples - and when they arrive, make sure you check the packaging and instructions as well as the build quality. Do they understand and meet all the right certification requirements for the market where you'll be selling the products? Are you sure that your supplier is a qualified factory? If you're not sure, you can simply check out their registered information with local officials or a Company Verification service from local experts in China.
Auditing of Chinese suppliers
In China,not all the factories or trade companies have the right or qualifications to do business with the overseas partners directly. On the one hand,some small factories or trade companies do not have their own Export License,they have to work with a qualified export agent to 'sell'their items. So legally a qualified exporter or export agent is your direct business partner in such cases. On the other hand,each exporter has their own business business scope, no exporter can export anything whatever you need, some items need special export quota or licenses from the government. If your order is small, you can try to verify their business license and export qualifications with local officials or verify them via a local expert in China like STIN. If your order is large enough, then an on-site third-party factory or supplier inspection service is very important to stop you from future trouble before you place any orders.
Communication with the suppliers
The most important skill you can learn is negotiation. Haggling over the price, minimum order quantity and other terms of your order is far more common in China, and if you're willing to drive a hard bargain you can make real savings from original quote.
Chinese manufacturers usually work on thin margins and quality does have a price, so don't get obsessed with chasing the cheapest price. Equally, you need to be realistic in your order estimates so they can work out exactly what they need to charge to avoid losing money.
Ideally, you would communicate in the same language; hiring a translator is often a necessary step. However,whenever you communicate, always make sure you send follow-up emails in which you reiterate what has already been agreed and ask them to do the same- this will cut down on the adverse impact of the language barrier.
Of course, you also need to make sure you have a contract drawn up by a legal practitioner or a professional purchasing agent in China who has good knowledge of Chinese trade so the terms are enforceable and comprehensive.
In the event of anything going wrong, it would be ideal to discuss the issue over dinner. But of course, that's unlikely to be an option, so Whatsapp, Wechat or Skype or something similar is the next best thing. Be prepared to wait until the end of the conversation to raise the difficult subject.
Quality control management
If you can visit the factory at least once during production, then do so before the order is shipped. Alternatively, if you'd like to save more time and cost, you can consider hiring a professional QC inspection company or sending a qualified person whom you trust. It may seem like you're wasting time and resources, but it will not be frowned upon in China and is vital to make sure everything is running smoothly.
Either way, you should already have an idea of the kind of quality to expect from the samples you've approved.
Payment and delivery
Paying in instalments and hold some back until the shipment has been delivered - a 30-70 percent split between order and delivery payments is common, but this is negotiable if you want to pay less upfront or increase the number of instalments so that some payment changes hands when the goods are received.
One of the most common arrangements in terms of shipping costs if “FOB Shenzhen”, where the supplier pays to get the goods to the port of Shenzhen and then you take over. But of course, this is up for discussion if you'd prefer different arrangements.
Generally, your main delivery options are by air or sea. Air transport is a better option for small volumes or high values, or even if your products happen to be small and delicate - it's faster and can often reduce the risk of damage. Ocean shipping takes longer but is better for bulky and heavier goods. Using a reputable logistics service is vital, since they'll usually be able to manage the whole process for you.
Take the hassle out of sourcing with the ONE-STOP STIN buying office service.
STIN buying office or purchasing agent service can solve the problems for the clients from the beginning to the end, covering: Selection of qualified suppliers; Payment Risk Control; Quality Control; Shipping and Logistics Support; and even after-sale services etc. By taking the stress out of sourcing your products, you'll save valuable time and resources that you can devote to your business. Find out more about how STIN services could help you here.
Source: Alibaba Forum and STIN service team
Sunday, 8 May 2016
China plans platforms to bring manufacturing and internet together
China aims to build internet platforms for manufacturing companies and third-party service platforms for small and medium-sized enterprises to boost mass entrepreneurship and innovation, said Xin Guobin, vice-minister of the Ministry of Industry and Information Technology, on Friday.
Xin said China wants manufacturing enterprises and internet companies to have better cooperation and combine manufacturing resources well with internet platforms.
Xin said State-owned enterprises are encouraged to set up innovation and investment funds and regional industry investment funds and social capital will also be brought in to support internet platform construction, innovative idea incubation and commercialization of research findings.
An executive meeting of the State Council presided over by Premier Li Keqiang on Wednesday made the decision to set up innovation and investment funds in addition to looking over the integration of internet and the manufacturing sector.
Friday, 8 April 2016
STIN Group: China to be the largest exporter for used cooking oil in the coming 5 years
Around 10 factories in China has obtained ISCC EU certificate as of today,even one supplier in Anhui exported 100000 containers of waste cooking oil within only one month last year.
China used cooking oil is the best raw material for bio-diesel production in Europe.
STIN UCO, short for STIN UCO RENEWABLE ENERGY CO. LTD is a part of STIN GROUP, STIN UCO focuses exclusively on the business of Used Cooking Oil, covering the collection, refinement, development, processing, manufacturing and export of all kinds of used cooking oil in China. STIN UCO factory is located in Shenze county, Hebei province, we have used cooking oil collectors working for us in Beijing, Chengdu, Sichuan, Henan and Shandong etc
STIN UCO factory has been certified with ISCC and STIN UCO is striving to be the largest UCO collector, producer and exporter in the coming 5 years. STIN UCO has been successfully exported tens of thousands of containers of UCO to UK and European market so far. STIN UCO factory is able to collect and produce around 5000 -- 10000 tons per month at present, depending on the specific product details from the clients worldwide.
China used cooking oil is the best raw material for bio-diesel production in Europe.
STIN UCO, short for STIN UCO RENEWABLE ENERGY CO. LTD is a part of STIN GROUP, STIN UCO focuses exclusively on the business of Used Cooking Oil, covering the collection, refinement, development, processing, manufacturing and export of all kinds of used cooking oil in China. STIN UCO factory is located in Shenze county, Hebei province, we have used cooking oil collectors working for us in Beijing, Chengdu, Sichuan, Henan and Shandong etc
STIN UCO factory has been certified with ISCC and STIN UCO is striving to be the largest UCO collector, producer and exporter in the coming 5 years. STIN UCO has been successfully exported tens of thousands of containers of UCO to UK and European market so far. STIN UCO factory is able to collect and produce around 5000 -- 10000 tons per month at present, depending on the specific product details from the clients worldwide.
Here are the regular used cooking oil indexes (specifications) that we are exporting to European market at present:
1.FFA (free fatty acids): 5% Max
M&I (moisture and impurities): 2% Max
Iodine Value (IV): Min 80 G IOD/100G
Sulphur Content: Max 30 MG/KG
2.FFA 5% max
M.I. 2% max
IV 85 min
Sulphur 50ppm max
3.Free Fatty Acids - max 5%,
Impurities - max 1%
Water - max 1%
Sulphur - max 50 ppm
Idoine Value min 85+
Polyethylene max 50ppm
4.FFA (free fatty acids): 3% Max
M&I (moisture and impurities): 2% Max
Iodine Value (IV): Min 80 G IOD/100G
Sulphur Content: Max 30 ppm
Water content: 1% Max
Insoluble substances: 1% Max
Unsaponifiable: 1% Max
Polyethylene (PE): 50 ppm Max
5. FFA (free fatty acids): 2% Max
M&I (moisture and impurities): 1% Max
Iodine Value (IV): Min 75 G IOD/100G
Sulphur Content: Max 40 MG/KG
6.FFA (free fatty acids): 2% Max
M&I (moisture and impurities): 1% Max
Iodine Value (IV): Min 80 G IOD/100G
Sulphur Content: Max 35 MG/KG
China still remains largest market for luxury goods
BEIJING - Luxury market observers say that China, the world's largest market, looks likely to continue to make up for the weaker demand elsewhere.
Today, Chinese shoppers account for nearly half of the global luxury market, providing an invaluable demand to brands in every segment. Data from Fortune Character Institute, a Shanghai-based luxury research consultancy, show China's luxury spending in 2015 totalled $16.8 billion, up 9 percent, year on year.
Observers find that educated, well-traveled and tech-savvy younger generation shoppers are emerging as the new target market.
"The Chinese customer is becoming a lot more global,"said Andrew Keith, president of Lane Crawford, the high-end fashion retailer headquartered in Hong Kong."There's a real thirst for newness."
They also find that Chinese consumers are shifting from visibly branded goods to a focus on quality.
"Our research found that 39 percent of wealthy Chinese think the logo is no longer the priority," said Tina Zhou of the Fortune Character Institute. "Now they buy luxury goods for their own enjoyment. Niche high-end brands as well as bespoke products, as a result, are becoming new drivers of luxury consumption."
Keith said women's wear is the fastest-growing portion of the company's mainland China business, accounting for 50 percent of sales.
Today, Chinese shoppers account for nearly half of the global luxury market, providing an invaluable demand to brands in every segment. Data from Fortune Character Institute, a Shanghai-based luxury research consultancy, show China's luxury spending in 2015 totalled $16.8 billion, up 9 percent, year on year.
Observers find that educated, well-traveled and tech-savvy younger generation shoppers are emerging as the new target market.
"The Chinese customer is becoming a lot more global,"said Andrew Keith, president of Lane Crawford, the high-end fashion retailer headquartered in Hong Kong."There's a real thirst for newness."
They also find that Chinese consumers are shifting from visibly branded goods to a focus on quality.
"Our research found that 39 percent of wealthy Chinese think the logo is no longer the priority," said Tina Zhou of the Fortune Character Institute. "Now they buy luxury goods for their own enjoyment. Niche high-end brands as well as bespoke products, as a result, are becoming new drivers of luxury consumption."
Keith said women's wear is the fastest-growing portion of the company's mainland China business, accounting for 50 percent of sales.
Saturday, 12 March 2016
Top 10 key investment fields in China's 13th Five-Year Plan
Beijing -- The People's Congress and the Political Consultative Committees of China are holding the so-called "two sessions" meetings in Beijing to discuss the development goals and policy methods to achieve them for 2016 and the entire 13th Five-Year Plan period(2016-2020).
The draft outline of the 13th Five-Year Plan on national economy and social development was presented on March 5 to the Fourth Session of the 12th National People's Congress for review.
Let's take a look at the 10 key investment fields in the 13th Five-Year Plan:
Agricultural modernization;
Intelligent manufacturing;
Infrastructure;
Environmental protection and eco-friendly goods;
Clean-energy autos;
Internet Plus and 5G telecom technology;
Reform of State-owned enterprises;
Belt and Road Initiative;
Building world-class city clusters in the Beijing-Tianjin-Hebei region;
Healthcare and retirement;
The draft outline of the 13th Five-Year Plan on national economy and social development was presented on March 5 to the Fourth Session of the 12th National People's Congress for review.
Let's take a look at the 10 key investment fields in the 13th Five-Year Plan:
Agricultural modernization;
Intelligent manufacturing;
Infrastructure;
Environmental protection and eco-friendly goods;
Clean-energy autos;
Internet Plus and 5G telecom technology;
Reform of State-owned enterprises;
Belt and Road Initiative;
Building world-class city clusters in the Beijing-Tianjin-Hebei region;
Healthcare and retirement;
China completes drafting its first e-commerce law
BEIJING - China has completed a draft version of the country's first e-commerce law to guide the sector's sound development, a lawmaker said Thursday.
The draft will be submitted as early as possible to the Financial and Economic Affairs Committee of the National People's Congress (NPC) for review, said Uzhitu, vice chairman of the committee, at a press conference on the sidelines of the annual parliamentary session.
After that, the draft e-commerce law will be presented to the NPC Standing Committee for further reading, Uzhitu said.
The legislation is necessary to deal with new problems in data protection and infringements upon customers' interests, he said.
The draft will be submitted as early as possible to the Financial and Economic Affairs Committee of the National People's Congress (NPC) for review, said Uzhitu, vice chairman of the committee, at a press conference on the sidelines of the annual parliamentary session.
After that, the draft e-commerce law will be presented to the NPC Standing Committee for further reading, Uzhitu said.
The legislation is necessary to deal with new problems in data protection and infringements upon customers' interests, he said.
Monday, 1 February 2016
China manufacturing activity contracts, hits 3-year low
BEIJING -- China's manufacturing activity kept contracting in January, pointing to persistent weakness in the sector, data showed on Monday. The purchasing managers' index (PMI) came in at 49.4, down from December's 49.7, according to data released by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The index also marked the lowest level since August 2012, as China's economy is at pains to seek new growth engines as the housing market slowed and industrial overcapacity overhung.
NBS statistician Zhao Qinghe attributed the retreat to slowing factory activity ahead of the Spring Festival, which falls in early February this year, as well as China's ongoing campaign to resolve excessive capacity.
The economic slowdown both at home and abroad also affected aggregate demand and foreign trade growth, Zhao explained.
In breakdown, the sub-index measuring production stood at 51.4, down 0.8 percentage point from a month earlier, and that for new orders settled at 49.5, down 0.7 point.
Source: Chinanews
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The index also marked the lowest level since August 2012, as China's economy is at pains to seek new growth engines as the housing market slowed and industrial overcapacity overhung.
NBS statistician Zhao Qinghe attributed the retreat to slowing factory activity ahead of the Spring Festival, which falls in early February this year, as well as China's ongoing campaign to resolve excessive capacity.
The economic slowdown both at home and abroad also affected aggregate demand and foreign trade growth, Zhao explained.
In breakdown, the sub-index measuring production stood at 51.4, down 0.8 percentage point from a month earlier, and that for new orders settled at 49.5, down 0.7 point.
Source: Chinanews
Top 10 industries with the highest salary in China
Professional services and counseling were ranked among the highest-paid industries, according to a report released by Zhaopin.com, a leading job website and human resource service agency in China.
The report also ranked cities in Chinese mainland based on monthly salary of white-collar workers and Beijing occupied the top rung with an average monthly salary of 9,227 yuan, followed by Shanghai and Shenzhen.
Here are the top 10 industries with the highest salary.
1 Professional service/counseling/Law/Human resource
2 Securities/stocks/futures/investment
3 Intermediary services
4 Online gaming
5 Trust/auctions
6 E-commerce
7 Energy/mining
8 Computer software
9 Real estate
10 Banking
Source: Zhaopin
The report also ranked cities in Chinese mainland based on monthly salary of white-collar workers and Beijing occupied the top rung with an average monthly salary of 9,227 yuan, followed by Shanghai and Shenzhen.
Here are the top 10 industries with the highest salary.
1 Professional service/counseling/Law/Human resource
2 Securities/stocks/futures/investment
3 Intermediary services
4 Online gaming
5 Trust/auctions
6 E-commerce
7 Energy/mining
8 Computer software
9 Real estate
10 Banking
Source: Zhaopin
Good news for businessmen from Middle East: First container train from Yiwu to Tehran launched
The first regular container train linking China to the Middle East is unveiled in Yiwu, East China's Zhejiang province, Jan 28, 2016. The train will exit China through Alataw Pass in Northwest China's Xinjiang and pass through Kazakhstan and Turkmenistan before reaching its destination Tehran, capital of Iran, completing a 14-day and 10,399-kilometer journey.
Catering to the Belt and Road Initiative, the train is expected to further promote China's cooperation with Middle Eastern countries.
Yiwu is a famous production base for small commodities and it has been keeping close foreign trade ties with countries in the Middle East.
There are currently about 4,000 Middle Eastern businessmen living in Yiwu and more than 180 companies set up by Middle Eastern investors. The city witnessed 58.3 billion yuan ($8.8 billion) of exports to the Middle East in 2015.
This regular freight train will greatly benefit the businessman from Iran, Kazakhstan,Turkmenistan and even Pakistan etc.
Source: Chinadaily
Catering to the Belt and Road Initiative, the train is expected to further promote China's cooperation with Middle Eastern countries.
Yiwu is a famous production base for small commodities and it has been keeping close foreign trade ties with countries in the Middle East.
There are currently about 4,000 Middle Eastern businessmen living in Yiwu and more than 180 companies set up by Middle Eastern investors. The city witnessed 58.3 billion yuan ($8.8 billion) of exports to the Middle East in 2015.
This regular freight train will greatly benefit the businessman from Iran, Kazakhstan,Turkmenistan and even Pakistan etc.
Source: Chinadaily
Monday, 18 January 2016
The latest China chemical business fraud
Mr. Petr from Czech Republic confirmed that following Chinese supplier is a professional scammer, they lost more than 8700 USD for plastic raw material business (HDPE):
Dalian Wanhao Chemical Co, Ltd
Add: NO. 6 Gangwan Streed, Zhongshan District, Dalian, P.R. China
Tel: +86 411 39836210
Mobile: +86 131 0983 0862
Website: www.dlwhchem.com
Contact: Mr. Morry Kin (fake name)
Here is their story:
Communicated with the company since November 2014
Placed an order for LDPE Virgin Granula for USD 8760,- on January 5, 2015
No material was shipped.
Last communication from the company was on February 14, 2015
Until today, no other communication took place and no material was shipped
The company is still active on the internet possibly cheating other companies
Following evidence could be available upon request:
Invoice from the Dalijan Wanhao Chemical Co., Ltd.
Confirmation of the invoice payment
Confirmation from our bank that the Dalijan Wanhao Chemical, Ltd did receive the payment of USD 8760,
E-mail communication with Dalian Wanhao Chemical Co, Ltd.
Copy of passport ID of Mr. Morry Kin, who claimed to be Dalijan Wanhao Chemical Co. Ltd. representative and held all the communication with me
Business License of Dalijan Wanhao Chemical Co., Ltd.
Credit Certificate of Dalijan Wanhao Chemical Co., Ltd. with a name
Export License
Submitted pictures of the company from Mr. Morry Kin
Tax certificate of Dalijan Wanhao Chemical Co., Ltd.
How to check out similar business fraud in China ? A basic Company Checkup service or an on-site Factory Inspection and Auditing service would be a key in China.
Dalian Wanhao Chemical Co, Ltd
Add: NO. 6 Gangwan Streed, Zhongshan District, Dalian, P.R. China
Tel: +86 411 39836210
Mobile: +86 131 0983 0862
Website: www.dlwhchem.com
Contact: Mr. Morry Kin (fake name)
Here is their story:
Communicated with the company since November 2014
Placed an order for LDPE Virgin Granula for USD 8760,- on January 5, 2015
No material was shipped.
Last communication from the company was on February 14, 2015
Until today, no other communication took place and no material was shipped
The company is still active on the internet possibly cheating other companies
Following evidence could be available upon request:
Invoice from the Dalijan Wanhao Chemical Co., Ltd.
Confirmation of the invoice payment
Confirmation from our bank that the Dalijan Wanhao Chemical, Ltd did receive the payment of USD 8760,
E-mail communication with Dalian Wanhao Chemical Co, Ltd.
Copy of passport ID of Mr. Morry Kin, who claimed to be Dalijan Wanhao Chemical Co. Ltd. representative and held all the communication with me
Business License of Dalijan Wanhao Chemical Co., Ltd.
Credit Certificate of Dalijan Wanhao Chemical Co., Ltd. with a name
Export License
Submitted pictures of the company from Mr. Morry Kin
Tax certificate of Dalijan Wanhao Chemical Co., Ltd.
How to check out similar business fraud in China ? A basic Company Checkup service or an on-site Factory Inspection and Auditing service would be a key in China.
Features of Chinese L/C Business Fraud
Several L/C business fraud cases in China have been witnessed among our clients worldwide, here are the features of those cases.
1.Chinese L/C business fraudsters - actually located in North China: Shijiazhuang, Zhengzhou, Qingdao, Dalian, Tianjin - create a new trading and export company, usually for one year and pretend to be manufacturers online but they will never put on their Business License and other certificates on their website.
2.Their websites are rent for one year from non traceable hosts (Korea, USA etc.) and composed of standard-modules, all the websites have an absolutely identic layout with the same functions. Also they will use ‘fake address’ or non-exist address on their website.
3. They do not present their complete set of documents and licences for due diligence with different kinds of trivial excuses:
a. Company / Business Licence (they will offer fake licenses sometimes)
b. Bank Account Licence (and the complete bank coordinates and contact data of the bank officer)
c. Foreign Trade Registration / Export Licence
d. Copy of Tax Registration
e. ISO Certificates
f. Copy of the ID-card of the company owner and general manager
g. Coordinates of the Insurance Company and the contact person
h. Coordinates of the Shipping Company and the contact person
The range of their different (rotten) excuses is nearly unlimited...
4. If you ask for the direct phone number and the direct email address of the director of the company or the general manager, you will never get, indifferently how many times you ask for. They normally use a mobile phone number or a single emailbox to contact the buyers. No fixed office number is available.
5. If you ask them to accept local third-party‘on-site factory auditing or inspection’services, they will decline or disappear suddenly. Normally the big importers will use professional auditing services to protect their interests in China, especially when they know nothing about Chinese. Only local experts can find out the truth for them in China sometimes.
6. They insist on their own shipping agency and on the fact that they will do by themselves the quality and quantity control. Some professional scammers will be able to change the items in the container during the transportation in China, say, from the factory warehouse to the port yard.
7. Payment:
(a.) they insist on a pre-payment/deposit of usually 30% TT, but do not give any guarantee for the countervalue
(b.) they do not accept a Bank Guarantee or a deferred LC
(c). if the accept LC, then only an irrevocable, confirmed, non divisble, non transferable LC 100% at sight
8. They offer big quantities of commodities (non ferrous metals) for prices which are far below the world market prices (even the manipulated LME prices).
9. After they have sent their offer, you get ’bombed‘ by their standard emails every day:
?Hello, my dear friend, how are you? When will you open the LC for us? Please tell me again the name and coordinates of the issuing bank.“
10. They will sign with you any kind of agreements and issue whatever document you want and ask for (Working Agreement - IMFPA - Guarantee of Price and Delivery etc.), because they know from the very beginning, that they will disappear and never keep the agreements.
11. They use a 'fake’identity card or‘steal’a real identity card to register a company.
12. Conspiracy with their shipping agent:
(a.) they change the goods inside the container on the way to the yard with a fake seal number (or they even dismantle the container door without breaking the seal number.)
(b.) they issue a falsification/fake of a real, existing, official BL; they get the original BL number from their contact person from the shipping agency
13.After they have got the money, they disappear - they do not answer your mails. The phone line is 'dead’, the fax (if they have... usually they use only one number for phone and for fax) does not connect; they disappear from Skype as well... There is no possibility to get into contact with them.
Please read here to know how to cope with such cases in China.
Source: STIN Verification Team and Dr. Harald Dasinger,a sourcing expert from Germany
1.Chinese L/C business fraudsters - actually located in North China: Shijiazhuang, Zhengzhou, Qingdao, Dalian, Tianjin - create a new trading and export company, usually for one year and pretend to be manufacturers online but they will never put on their Business License and other certificates on their website.
2.Their websites are rent for one year from non traceable hosts (Korea, USA etc.) and composed of standard-modules, all the websites have an absolutely identic layout with the same functions. Also they will use ‘fake address’ or non-exist address on their website.
3. They do not present their complete set of documents and licences for due diligence with different kinds of trivial excuses:
a. Company / Business Licence (they will offer fake licenses sometimes)
b. Bank Account Licence (and the complete bank coordinates and contact data of the bank officer)
c. Foreign Trade Registration / Export Licence
d. Copy of Tax Registration
e. ISO Certificates
f. Copy of the ID-card of the company owner and general manager
g. Coordinates of the Insurance Company and the contact person
h. Coordinates of the Shipping Company and the contact person
The range of their different (rotten) excuses is nearly unlimited...
4. If you ask for the direct phone number and the direct email address of the director of the company or the general manager, you will never get, indifferently how many times you ask for. They normally use a mobile phone number or a single emailbox to contact the buyers. No fixed office number is available.
5. If you ask them to accept local third-party‘on-site factory auditing or inspection’services, they will decline or disappear suddenly. Normally the big importers will use professional auditing services to protect their interests in China, especially when they know nothing about Chinese. Only local experts can find out the truth for them in China sometimes.
6. They insist on their own shipping agency and on the fact that they will do by themselves the quality and quantity control. Some professional scammers will be able to change the items in the container during the transportation in China, say, from the factory warehouse to the port yard.
7. Payment:
(a.) they insist on a pre-payment/deposit of usually 30% TT, but do not give any guarantee for the countervalue
(b.) they do not accept a Bank Guarantee or a deferred LC
(c). if the accept LC, then only an irrevocable, confirmed, non divisble, non transferable LC 100% at sight
8. They offer big quantities of commodities (non ferrous metals) for prices which are far below the world market prices (even the manipulated LME prices).
9. After they have sent their offer, you get ’bombed‘ by their standard emails every day:
?Hello, my dear friend, how are you? When will you open the LC for us? Please tell me again the name and coordinates of the issuing bank.“
10. They will sign with you any kind of agreements and issue whatever document you want and ask for (Working Agreement - IMFPA - Guarantee of Price and Delivery etc.), because they know from the very beginning, that they will disappear and never keep the agreements.
11. They use a 'fake’identity card or‘steal’a real identity card to register a company.
12. Conspiracy with their shipping agent:
(a.) they change the goods inside the container on the way to the yard with a fake seal number (or they even dismantle the container door without breaking the seal number.)
(b.) they issue a falsification/fake of a real, existing, official BL; they get the original BL number from their contact person from the shipping agency
13.After they have got the money, they disappear - they do not answer your mails. The phone line is 'dead’, the fax (if they have... usually they use only one number for phone and for fax) does not connect; they disappear from Skype as well... There is no possibility to get into contact with them.
Please read here to know how to cope with such cases in China.
Source: STIN Verification Team and Dr. Harald Dasinger,a sourcing expert from Germany
Basic ways to find out Chinese business fraud before payment
China is not only the largest exporter but also the largest importer for lot of general commodities on the globe, suggesting that 99.99 % of the Chinese businessmen are quite honest and reliable enough. However, scammers do exist everywhere on the globe, as a professional auditor and sourcing expert in China, I'd like to share some basic skills on how to find out the Chinese business fraud before payment:
1. Homepage/Website/Full contact ways
Scammer and cheater usually rent an internet domain from an American or Chinese host for one year. After one year, the homepage does not exist any longer - as well as the company. No email-address, no phone-/fax-number works any more. The contact person (usually it is only one or two !) disappears completely and can not be reached by any means any more.
The homepage in each case is from the same‘mold’or‘standard’- it means a ready-made/pre-manufactured one. Layout, design, functioning etc. of the site are almost the same in all cases - only the name of the company, phone number, email address, name of contact person are different.
90% of these scammers do not use a fixed office phone number, they just listed out a mobile phone number online. They used‘fake ID card’to buy a SIM card and get a mobile phone number, which could be disappeared at any time in China.
It is always mentioned on these sites only one single contact person, only one email-address, only one number which is phone and fax at the same time. There is no real, serious company presentation - only generalities which in all cases coincide to 90%.
There is nothing telling about the company history, company values, employee/staff, and management etc. They may know little English, or just use machine to translate or employ a young girl to work for them.
There is nowhere on the site mentioned any official registration number, tax number etc. as well as the contact data of the official governmental authorities where it can be proved that this company really exists and has all necessary legal licences. There are nowhere mentioned the bank coordinates, so that the company can be proved about its credit and reputation.
100% of the scammers use‘fake'or‘none-exist'addresses in China, they just created an address online and it cannot be reached at all. With a simple ‘on-site inspection’you can find out the truth, especially when the order is large enough.
2.Too low prices
Check the market price in China first before you IMPORT !
China is well-known for the ‘cheap or low’ prices for most of the items on the globe. However, please bear in mind that China is also the largest consumer for lot of luxury and high quality products. Almost every factory has different quality level products, catering for the importers from Europe, US, Middle-East and Africa, if you pay more, the quality will be good, and vise versa.
The scammers normally trap the importers with extremely low prices, far beyond the market prices. You have to check out market price and their export qualifications first before further discussion if you are offered a very low price.
3.Payment terms and bank account
Scammer and cheater always ask for pre-payment, usually 30%TT in advance. It seems to be normal in the international business as they need cost to prepare the raw materials, however, the importer should have their registered information or export qualifications first before payment, especially when the order is very large.
LC 100% at sight is also not 100% safe now. Some professional scammers will use ‘fake documents’ to get the money, please read here to know more about such cases. They do not issue a PB of 2% - because they do not have the money and they are not credit worthy. Of course, the best solution is that you can use little money to employ local verification or auditing service to solve these troubles in China.
Another important thing is the bank account. We have witnessed several cases that some professional scammers use ‘UK, Dubai or HK offshore company’ to receive the money in China. For example, they can register an offshore company in Hongkong or UK or Middle East, the company name is exactly the same with a big company name or well-known company name here in China. Then the client is required to pay to their offshore trade company account (which does not exist in Mainland China), they will disappear after they get enough money and repeat the scam story again and again. In this case, company bank account verification is also very important now, espcially for large orders.
4.Licences and export qualifications
In China, every factory or exporter must have their own Business License, from their official Business License, you can find out their authorized business scopes in China, you can also find out whether they are a real factory or not in China. In this case, a basic verification service is very important before payment if you know nothing about Chinese.
Scammer and cheater are not able to present a business licence - not a company licence, not an export licence, not a production licence, even if they state, that they are direct producers/manufacturers. Some used a ‘fake’ license to trap you. If they present one, it is only in Chinese and no European buyer will understand what kind of licences it is and what it is written in this licence.
Except for the business license, some other certificates or licenses are very important as well in doing international business in China, say, Export License, Export Quota (for some special items), CE, SGS, UL, Halal, ISO certificate etc. Do not forget to check out their export qualifications and bank credit before payment! A formal purchase contract, on-site factory auditing or inspection service, pre-shipment QC inspection and loading process supervision service etc play a very important role in doing safe and smooth business in China !
Source: STIN Verification Team and Dr. Harald Dasinger, a sourcing expert from Germany
1. Homepage/Website/Full contact ways
Scammer and cheater usually rent an internet domain from an American or Chinese host for one year. After one year, the homepage does not exist any longer - as well as the company. No email-address, no phone-/fax-number works any more. The contact person (usually it is only one or two !) disappears completely and can not be reached by any means any more.
The homepage in each case is from the same‘mold’or‘standard’- it means a ready-made/pre-manufactured one. Layout, design, functioning etc. of the site are almost the same in all cases - only the name of the company, phone number, email address, name of contact person are different.
90% of these scammers do not use a fixed office phone number, they just listed out a mobile phone number online. They used‘fake ID card’to buy a SIM card and get a mobile phone number, which could be disappeared at any time in China.
It is always mentioned on these sites only one single contact person, only one email-address, only one number which is phone and fax at the same time. There is no real, serious company presentation - only generalities which in all cases coincide to 90%.
There is nothing telling about the company history, company values, employee/staff, and management etc. They may know little English, or just use machine to translate or employ a young girl to work for them.
There is nowhere on the site mentioned any official registration number, tax number etc. as well as the contact data of the official governmental authorities where it can be proved that this company really exists and has all necessary legal licences. There are nowhere mentioned the bank coordinates, so that the company can be proved about its credit and reputation.
100% of the scammers use‘fake'or‘none-exist'addresses in China, they just created an address online and it cannot be reached at all. With a simple ‘on-site inspection’you can find out the truth, especially when the order is large enough.
2.Too low prices
Check the market price in China first before you IMPORT !
China is well-known for the ‘cheap or low’ prices for most of the items on the globe. However, please bear in mind that China is also the largest consumer for lot of luxury and high quality products. Almost every factory has different quality level products, catering for the importers from Europe, US, Middle-East and Africa, if you pay more, the quality will be good, and vise versa.
The scammers normally trap the importers with extremely low prices, far beyond the market prices. You have to check out market price and their export qualifications first before further discussion if you are offered a very low price.
3.Payment terms and bank account
Scammer and cheater always ask for pre-payment, usually 30%TT in advance. It seems to be normal in the international business as they need cost to prepare the raw materials, however, the importer should have their registered information or export qualifications first before payment, especially when the order is very large.
LC 100% at sight is also not 100% safe now. Some professional scammers will use ‘fake documents’ to get the money, please read here to know more about such cases. They do not issue a PB of 2% - because they do not have the money and they are not credit worthy. Of course, the best solution is that you can use little money to employ local verification or auditing service to solve these troubles in China.
Another important thing is the bank account. We have witnessed several cases that some professional scammers use ‘UK, Dubai or HK offshore company’ to receive the money in China. For example, they can register an offshore company in Hongkong or UK or Middle East, the company name is exactly the same with a big company name or well-known company name here in China. Then the client is required to pay to their offshore trade company account (which does not exist in Mainland China), they will disappear after they get enough money and repeat the scam story again and again. In this case, company bank account verification is also very important now, espcially for large orders.
4.Licences and export qualifications
In China, every factory or exporter must have their own Business License, from their official Business License, you can find out their authorized business scopes in China, you can also find out whether they are a real factory or not in China. In this case, a basic verification service is very important before payment if you know nothing about Chinese.
Scammer and cheater are not able to present a business licence - not a company licence, not an export licence, not a production licence, even if they state, that they are direct producers/manufacturers. Some used a ‘fake’ license to trap you. If they present one, it is only in Chinese and no European buyer will understand what kind of licences it is and what it is written in this licence.
Except for the business license, some other certificates or licenses are very important as well in doing international business in China, say, Export License, Export Quota (for some special items), CE, SGS, UL, Halal, ISO certificate etc. Do not forget to check out their export qualifications and bank credit before payment! A formal purchase contract, on-site factory auditing or inspection service, pre-shipment QC inspection and loading process supervision service etc play a very important role in doing safe and smooth business in China !
Source: STIN Verification Team and Dr. Harald Dasinger, a sourcing expert from Germany
Saturday, 2 January 2016
Top 10 best cities for business on Chinese mainland
Thanks to its comprehensive strength, especially its advantage on passenger transport and freight index, Guangzhou topped the list of best cities for business on the Chinese mainland in 2015, according to a report recently released by Forbes China.
Among the top 10, Beijing climbed the highest, up three spots compared to last year when it ranked 7th. The result is due to excellent performance in many fields such as urban size index and labor index.
On the other hand, Wuxi dropped the most. However, its labor index remained high because it absorbed many talents with preferential policies, including nine Nobel Prize winners.
The 2015 ranking still saw a strong presence of cities located in the eastern region.
Developed regions, including the Yangtze River Delta, Pearl River Delta and the Beijing-Tianjin-Hebei region, claimed 48 spots in total.
According to the report, this year's ranking was the 12th of its kind and evaluated 100 cities on the Chinese mainland based on eight business criteria, including labor index, urban size, spending power, passenger transport, freight, private economy, operational cost and innovation capacity.
The following are the 10 best cities for business on the Chinese mainland in 2015.
No 1 Guangzhou
No 2 Shanghai
No 3 Shenzhen
No 4 Beijing
No 5 Hangzhou
No 6 Nanjing
No 7 Ningbo
No 8 Wuxi
No 9 Qingdao
No 10 Chengdu
Source: Chinadaily
Among the top 10, Beijing climbed the highest, up three spots compared to last year when it ranked 7th. The result is due to excellent performance in many fields such as urban size index and labor index.
On the other hand, Wuxi dropped the most. However, its labor index remained high because it absorbed many talents with preferential policies, including nine Nobel Prize winners.
The 2015 ranking still saw a strong presence of cities located in the eastern region.
Developed regions, including the Yangtze River Delta, Pearl River Delta and the Beijing-Tianjin-Hebei region, claimed 48 spots in total.
According to the report, this year's ranking was the 12th of its kind and evaluated 100 cities on the Chinese mainland based on eight business criteria, including labor index, urban size, spending power, passenger transport, freight, private economy, operational cost and innovation capacity.
The following are the 10 best cities for business on the Chinese mainland in 2015.
No 1 Guangzhou
No 2 Shanghai
No 3 Shenzhen
No 4 Beijing
No 5 Hangzhou
No 6 Nanjing
No 7 Ningbo
No 8 Wuxi
No 9 Qingdao
No 10 Chengdu
Source: Chinadaily
Top 10 news events of China in 2015
1. Deadly stampede tragedy in Shanghai
The stampede happened on the last night of year of 2014 as tens of thousands of people assembled on Shanghai's historic riverfront walk to see a new-year skyline show in the Pudong financial area on the opposite side of the Huangpu River.
36 people were killed from a 12-year-old to a 37-year-old among whom 34 were residents of the Chinese mainland, 1 was from Taiwan and one was a Malaysian citizen.
Shanghai and other big cities soon cancelled big gatherings and rolled out safety regulations on crowd control after the accident as the government was caught in the backwash of criticism for not putting in place effective preparation measures to cope with the crowds that flocked to the Bund.
2.Unfortunate shipwreck
The Eastern Star cruise ship sank on the Jianli section of the Yangtze River on June 1, killing 442 passengers and crew on board the ship as only 12 survived.
The Eastern Star, with 403 tourists, 46 crew members and five travel agency employees aboard, was on a 11-day trip along the Yangtze River when it was overturned by a tornado on the night of June 1.
The 76.5-meter vessel had been in service for nearly 20 years and could carry up to 534 people. It underwent annual maintenance in late 2014 and was certified to cruise until April 25, 2016.
Search and rescue operations have ended on June 13 and the investigation result released on Dec 30 says the reason for the shipwreck was the heavy storm during freak weather.
3. Stock market rollercoaster
The A-share market suffered a free fall from June to August in 2015 when the market regulator tightened leverage norms. Funds panicked, a selloff ensued, and even global markets shivered, worried over further slowdown in the world's second largest economy.
The benchmark Shanghai Composite Index crashed 45 percent in less than two months. The rout wiped out $5 trillion of market value and prompted the regulator to launch an unprecedented rescue.
The plunge delayed reform of the Chinese stock market, prompting the regulator to intensify crackdowns on market manipulators and insider trading. Several senior executives of CITIC Securities, the country's largest brokerage, were investigated for alleged insider trading.
4.Tianjin blasts
Catastrophic explosions happened at midnight on Aug 12 in Tianjin where large amounts of toxic chemicals were stored in warehouses including around 700 tons of sodium cyanide.
162 people died including 96 firefighters, 11 policemen and 55 residents nearby. The eleven missing include eight firefighters and three residents. Hundreds remain in hospital.
People are shocked to know how dangerous the neighborhood they lived in was as few people even knew about the existence of the hazardous chemicals before the blasts.
5.V-Day parade
China held a V-Day military parade on Sept 3 for the first time in Beijing to commemorate the 70th anniversary of the end of World War II and the victory of the war of China's resistance against the Japanese invasion.
Twenty-three heads of state and government leaders and over 100 foreign VIPs or relatives of wartime heroes attended the parade to share the moment with China.
President Xi Jinping also announced to cut China's troops by 300,000 by the end of 2017 to show the nation's resolve to sticking to the path of peaceful development.
12,000 troops and 1,000 foreign troops from 17 countries participated in the parade.
6.CPC Fifth Plenary Session
China is about to march into its 13th Five-Year Plan from 2016, a plan that was proposed and adopted during CPC Fifth Plenary Session from OCT 26 to 29 amid China's new normal of slower economic growth.
The plan shifts China's focus on raising energy output and improving its energy supply structure with specific wind, solar power, and oil exploration targets.
The second child policy and the goal to alleviate poverty drew much attention worldwide.
7. Xi-Ma meeting
President Xi Jinping and Taiwan leader Ma Ying-jeou met and had face-to-face talks in Singapore on Nov 7.
The meeting is the first between the leaders from both sides of the Straits in 66 years since 1949, hailed as a milestone for cross-Straits relations and a breakthrough in leaders' communication.
It gained much attention from the world though they weren't expected to sign any agreement nor deliver a joint communique but merely exchanged views on promoting peaceful development of cross-Straits relations.
8. Landslide in Shenzhen
A landslide buried 33 buildings at the Hengtaiyu industrial park in Shenzhen City on Dec 20, leaving seven people dead and 75 missing.
It was later proved to be a work safety incident-- the result of the collapse of waste construction material used for landfill --rather than a geological disaster.
The local government apologized to victims and 12 people who were involved are being detained. 52-year-old Xu Yuan'an, chief official who approved the waste dump site, fell to his death.
The Supreme People's Procuratorate announced it would investigate the case for suspected malpractice crimes while the search is still on.
9. AIIB starts operation
The Asian Infrastructure Investment Bank, the first international financial institution proposed by China, was formally set up in December 2015.
The AIIB mainly focuses on supporting infrastructure construction projects in the Asia-Pacific region as China looks to strengthening economic ties with the neighboring economies.
The bank has garnered the approval of 17 countries including China, Australia, the United Kingdom, South Korea and Germany.
10. Smog depresses the northern cities
Several alerts of smog attacks during the winter destroyed the general impression that air pollution is improving when severe smog blanketed the cities for days.
Some cities like Beijing started practicing regulations such as limiting the number of vehicles and suspending school on days with severe air pollution.
Source: Chinadaily
The stampede happened on the last night of year of 2014 as tens of thousands of people assembled on Shanghai's historic riverfront walk to see a new-year skyline show in the Pudong financial area on the opposite side of the Huangpu River.
36 people were killed from a 12-year-old to a 37-year-old among whom 34 were residents of the Chinese mainland, 1 was from Taiwan and one was a Malaysian citizen.
Shanghai and other big cities soon cancelled big gatherings and rolled out safety regulations on crowd control after the accident as the government was caught in the backwash of criticism for not putting in place effective preparation measures to cope with the crowds that flocked to the Bund.
2.Unfortunate shipwreck
The Eastern Star cruise ship sank on the Jianli section of the Yangtze River on June 1, killing 442 passengers and crew on board the ship as only 12 survived.
The Eastern Star, with 403 tourists, 46 crew members and five travel agency employees aboard, was on a 11-day trip along the Yangtze River when it was overturned by a tornado on the night of June 1.
The 76.5-meter vessel had been in service for nearly 20 years and could carry up to 534 people. It underwent annual maintenance in late 2014 and was certified to cruise until April 25, 2016.
Search and rescue operations have ended on June 13 and the investigation result released on Dec 30 says the reason for the shipwreck was the heavy storm during freak weather.
3. Stock market rollercoaster
The A-share market suffered a free fall from June to August in 2015 when the market regulator tightened leverage norms. Funds panicked, a selloff ensued, and even global markets shivered, worried over further slowdown in the world's second largest economy.
The benchmark Shanghai Composite Index crashed 45 percent in less than two months. The rout wiped out $5 trillion of market value and prompted the regulator to launch an unprecedented rescue.
The plunge delayed reform of the Chinese stock market, prompting the regulator to intensify crackdowns on market manipulators and insider trading. Several senior executives of CITIC Securities, the country's largest brokerage, were investigated for alleged insider trading.
4.Tianjin blasts
Catastrophic explosions happened at midnight on Aug 12 in Tianjin where large amounts of toxic chemicals were stored in warehouses including around 700 tons of sodium cyanide.
162 people died including 96 firefighters, 11 policemen and 55 residents nearby. The eleven missing include eight firefighters and three residents. Hundreds remain in hospital.
People are shocked to know how dangerous the neighborhood they lived in was as few people even knew about the existence of the hazardous chemicals before the blasts.
5.V-Day parade
China held a V-Day military parade on Sept 3 for the first time in Beijing to commemorate the 70th anniversary of the end of World War II and the victory of the war of China's resistance against the Japanese invasion.
Twenty-three heads of state and government leaders and over 100 foreign VIPs or relatives of wartime heroes attended the parade to share the moment with China.
President Xi Jinping also announced to cut China's troops by 300,000 by the end of 2017 to show the nation's resolve to sticking to the path of peaceful development.
12,000 troops and 1,000 foreign troops from 17 countries participated in the parade.
6.CPC Fifth Plenary Session
China is about to march into its 13th Five-Year Plan from 2016, a plan that was proposed and adopted during CPC Fifth Plenary Session from OCT 26 to 29 amid China's new normal of slower economic growth.
The plan shifts China's focus on raising energy output and improving its energy supply structure with specific wind, solar power, and oil exploration targets.
The second child policy and the goal to alleviate poverty drew much attention worldwide.
7. Xi-Ma meeting
President Xi Jinping and Taiwan leader Ma Ying-jeou met and had face-to-face talks in Singapore on Nov 7.
The meeting is the first between the leaders from both sides of the Straits in 66 years since 1949, hailed as a milestone for cross-Straits relations and a breakthrough in leaders' communication.
It gained much attention from the world though they weren't expected to sign any agreement nor deliver a joint communique but merely exchanged views on promoting peaceful development of cross-Straits relations.
8. Landslide in Shenzhen
A landslide buried 33 buildings at the Hengtaiyu industrial park in Shenzhen City on Dec 20, leaving seven people dead and 75 missing.
It was later proved to be a work safety incident-- the result of the collapse of waste construction material used for landfill --rather than a geological disaster.
The local government apologized to victims and 12 people who were involved are being detained. 52-year-old Xu Yuan'an, chief official who approved the waste dump site, fell to his death.
The Supreme People's Procuratorate announced it would investigate the case for suspected malpractice crimes while the search is still on.
9. AIIB starts operation
The Asian Infrastructure Investment Bank, the first international financial institution proposed by China, was formally set up in December 2015.
The AIIB mainly focuses on supporting infrastructure construction projects in the Asia-Pacific region as China looks to strengthening economic ties with the neighboring economies.
The bank has garnered the approval of 17 countries including China, Australia, the United Kingdom, South Korea and Germany.
10. Smog depresses the northern cities
Several alerts of smog attacks during the winter destroyed the general impression that air pollution is improving when severe smog blanketed the cities for days.
Some cities like Beijing started practicing regulations such as limiting the number of vehicles and suspending school on days with severe air pollution.
Source: Chinadaily
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