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Chinese Ministry of Commerce: An Overview
 

Chinese Ministry of Commerce: An Overview

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This is a presentation I used in a graduate school class in April 2006, as a preface to visiting China. ...

This is a presentation I used in a graduate school class in April 2006, as a preface to visiting China.

For more information and some notes, see:
http://www.ariwriter.com/2008/10/on-the-china-ministry-of-commerce-and-my-first-slideshare/

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    Chinese Ministry of Commerce: An Overview Chinese Ministry of Commerce: An Overview Presentation Transcript

    • MOFCOM : Ministry of Commerce By Ari Herzog April 27, 2006 Suffolk University
    • Birth in March 2003
      • Born to eliminate redundancy
      • MOFTEC (formerly MOFERT)
      • +
      • SETC
      • +
      • SDPC
      • =
      • MOFCOM
    • Departments/offices
      • General Affairs Office
      • Personnel, Education and Labor Department
      • Policy Research Office
      • Law Department
      • Planning and Finance Department
      • Asian Affairs Department
      • Northwest Asian and African Affairs Department
      • Europe Department
      • America and Oceania Department
      • Taiwan, Hong Kong and Macao Office
      • International Economic and Trade Relations Department
      • WTO Department
      • Foreign Trade Department
      • Machinery and Electric Equipment Import and Export Department
      • Scientific Development and Technological Trade Department
      • Market System Department
      • Commerce Reform and Development Department
      • Market Operations Regulation Office
      • Foreign Investment Department
      • External Aid Department
      • External Economic Cooperation Department
      • Import and Export Fair Trade Bureau
      • Industrial Damage Investigation Bureau
      • Information Technology Department
      • Foreign Affairs Department
    • Responsibilities
      • Formulates and coordinates guidelines, laws, policies, regulations, plans, strategies, and administration of domestic and international trade and international economic cooperation
        • foreign investment
        • foreign government loans and assistance programs
        • overseas projects
        • technology trade with foreign countries
        • tariffs, taxation, exchange rates, credit, and pricing
        • economic relations with Taiwan, HK, and Macau
    • Ministers
    • January 2006: FDI in China
      • FDI up 11% in Jan 2006, from Jan 2005
        • $4.55 billion USD
        • HK, British VI, Germany led investment
        • 15 EU countries grew by 70.8%, US by 19.7%
      • 3,044 new foreign firms set up shop
        • 14.5% decrease
    • Future investments
      • PricewaterhouseCoopers survey of CEOs in Jan 2006
        • 55% to invest in China now through 2009
          • 75% want to win Chinese customers
          • 48% want to decrease labor costs
    • Potential tax rate change
      • Today, domestic firms pay income tax rates of 33%, foreign firms taxed at 15%
      • National People’s Congress to discuss in 2006 to unify the rates.
      • Also, plans for future tax breaks.
    • China support of key export brands
      • 2003: 65% market share for top 10 brands of 80 consumer products
      • 80% market share for top home appliance brands
      • 20% of export enterprises had own brands; < 10% of total exports
      • Lack of IPR in tech firms
      Source: Hong Kong Trade Development Council website - www.tdctrade.com/alert/cba-e0507a-3.htm
      • 190 domestic export brands fostered in 2005-2006: includes Haier, Gree, Xoceco, Galanz, Jialing, Huawei, ZTE, Ordos and Threegun
      • 71 from mechanical and electrical industry
      • 55 from textile industry
      • 40 from light industry, arts and crafts
      • 10 from food, native produce and animal by-product industry
      • 7 from metals, minerals and chemicals industry
      • 7 from pharmaceutical and health food industry
    • WTO: China #1 exporter by 2011
      • 2005 world trade volume was > $10,000 billion USD, 13% increase over 2004
      • Largest export increase by Russia (37%), China (28%), and Brazil (23%)
      • Top 3 goods export countries were Germany, US, and China
      • WTO prediction that China would take the place of Germany as the largest goods exporter in 2007 if China maintained 30% export increases
      • WTO prediction that China would be #1 goods exporter by 2010 at latest
      Source: Network Center of MOFCOM, 4/20/06
    • MOFCOM Online Resources
      • China Commodity Net http://ccne.mofcom.gov.cn/
        • Allows free searches for info of 600,000 Chinese enterprises and 2.2 million products
      • World Importers Net http://win.mofcom.gov.cn/en/
        • Free. Promotes intl trade by allowing Chinese and foreign firms to upload pics and descs of products to buy/sell
      • Bizmatching http://bizmatching.mofcom.gov.cn/en/
      • Invest in China http://www.fdi.gov.cn/main/indexen.htm
      • MOFCOM’s US Commercial Counselor (at Embassy) http://us2.mofcom.gov.cn/