Monday, 13 July 2009
China raises rebates to shore up exports
The purpose of these rebates are to stimulate more trade between overseas buyers and Chinese exporters, the benefit will be a reduction in your prices on all applicable products shipped after the 1/06/09.
China has raised export tax rebates on more than 2,600 items, including processed farm products, machines, shoes, hats and toys, as of June 1, the Ministry of Finance (MOF) announced Monday.This is the seventh time that the nation raised tax rebates since last August as to shore up exports amid global economic downturn. A ministry official, Liu Shangxi, told Xinhua the latest rebate increase reflected the government's efforts to spur the economy by combining domestic consumption and export industry."China's exports still face difficulties in the short term.
The tax rebate increase would help exporters reduce costs and shore up exports," he said.According to a notice jointly announced by the ministry and the State Administration of Taxation, tax rebates on TV transmitters, sewing machines were raised to 17 percent, and that on canned food, juice, shoes, hats and toys were up to 15 percent.Tax rebates on plastic, porcelain, glass and aquatic products were lifted to 13 percent, steel products, including scissors, to 9 percent and cornstarch, alcohol to 5 percent.
For more information on the full rebate % for the products you source from China please contact richard.ferris@yrclogistics.com
China has raised export tax rebates on more than 2,600 items, including processed farm products, machines, shoes, hats and toys, as of June 1, the Ministry of Finance (MOF) announced Monday.This is the seventh time that the nation raised tax rebates since last August as to shore up exports amid global economic downturn. A ministry official, Liu Shangxi, told Xinhua the latest rebate increase reflected the government's efforts to spur the economy by combining domestic consumption and export industry."China's exports still face difficulties in the short term.
The tax rebate increase would help exporters reduce costs and shore up exports," he said.According to a notice jointly announced by the ministry and the State Administration of Taxation, tax rebates on TV transmitters, sewing machines were raised to 17 percent, and that on canned food, juice, shoes, hats and toys were up to 15 percent.Tax rebates on plastic, porcelain, glass and aquatic products were lifted to 13 percent, steel products, including scissors, to 9 percent and cornstarch, alcohol to 5 percent.
For more information on the full rebate % for the products you source from China please contact richard.ferris@yrclogistics.com
Labels: China, Exports, Rebates
Monday, 22 December 2008
China Loses WTO Appeal (JOC – 12/16/08)
The Appellate Body of the World Trade Organization confirmed Monday that a Chinese tax measure on imported auto parts violates the trade body's rules. In its decision, the WTO’s top court largely upheld a panel ruling in July which backed complaints made against China by the United States, the European Union and Canada.
The latest ruling overthrew one aspect of the July ruling, which held that China's treatment of knock-down car kits contravenes the country's accession commitments to the WTO.
China considers auto parts as a complete vehicle if they account for 60 percent or more of the value of a vehicle, and charges a 15-percent higher tariff on them. The Chinese measure is designed to prevent tax evasion by companies that import whole cars as spare parts to avoid higher tariff rates.
In their complaints, the U.S., the EU and Canada argued that the Chinese tax measure deters automakers from using imported parts to build cars in the country, in violation of WTO rules.
"The WTO Appellate Body confirmed that China’s discriminatory taxation of U.S. auto parts is fundamentally at odds with core WTO principles," U.S. Trade Representative Susan Schwab said in a statement. "Especially in light of the current problems faced by the U.S. auto industry, I expect China to comply promptly with its WTO obligations by removing an unlawful and unfair trade barrier that is harming U.S. workers and manufacturers."
The latest ruling overthrew one aspect of the July ruling, which held that China's treatment of knock-down car kits contravenes the country's accession commitments to the WTO.
China considers auto parts as a complete vehicle if they account for 60 percent or more of the value of a vehicle, and charges a 15-percent higher tariff on them. The Chinese measure is designed to prevent tax evasion by companies that import whole cars as spare parts to avoid higher tariff rates.
In their complaints, the U.S., the EU and Canada argued that the Chinese tax measure deters automakers from using imported parts to build cars in the country, in violation of WTO rules.
"The WTO Appellate Body confirmed that China’s discriminatory taxation of U.S. auto parts is fundamentally at odds with core WTO principles," U.S. Trade Representative Susan Schwab said in a statement. "Especially in light of the current problems faced by the U.S. auto industry, I expect China to comply promptly with its WTO obligations by removing an unlawful and unfair trade barrier that is harming U.S. workers and manufacturers."
Labels: China
Thursday, 6 November 2008
China Update
A focus post my last trip to China has been to ensure YRCL Europe staff are able to clearly talk to clients about the logistics capabilities of our organisation in China. The pleasing results are that our origin services are adding extra value to our clients which is brilliant. Our China Business Development team are able to provide more information on these service if required. The bonus for me is the more I build these services the quicker I get invited back to China again.
Labels: China
Sunday, 26 October 2008
China boosts export tax rebates on toys and textiles
China has raised export tax rebates on toys, textiles and on more than 3,000 other products, moving ahead on promises to counter a slump that is forcing many factories that produce for overseas markets out of business, to read more about how this might affect your business, please go to our News Feed www.yrclogistics-rss.info
Labels: China, Global Trade Management, International Trade Compliance
Friday, 17 October 2008
China continues to be a strong focus for YRC Logistics
Whilst in China recently, Linda Yang and myself were introduced to a company of significant size who we are providing quality intra China logistics solutions for. Previously YRCL UK would probably not have been seen as a candidate for their International Forwarding, European Transportation or Customs Brokerage but this company was good enough to allow us to meet back in England. We were able to discuss their needs and identified areas with our relevant Subject Matter Experts, that we can provide solutions for their 30 full loads to mainland Europe per week as well as customs brokerage. I owe my friends and colleagues in China a warm and large thank you for the kind introduction to this client.
On a personal note, pre my trip to China I had been working hard to try and reverse the trend of good living over many years and lose some weight. I was concerned that two weeks of great Chinese food & good company would move me backwards. I probably have never eaten so much food or enjoyed so much good company, but what was even better was that I was amazed to return and get on my scales (with one eye shut) to find I had lost 5lbs in weight.
It was simple really when I look back at what I had eaten, beacuase even though I had consumed much more than I would normally, it was mainly fish and meat. There was no bread, pasta, fish and chips (private joke) or Yorkshire pudding. This is all common sense of course but a lesson I have taken onboard and I have altered my eating habits now I am back home and I am now going in the right direction health and weight wise for the first time in many years. I may even need to get a new photo attached to my blog. That is another thing I have thank my Chinese friends for.
On a personal note, pre my trip to China I had been working hard to try and reverse the trend of good living over many years and lose some weight. I was concerned that two weeks of great Chinese food & good company would move me backwards. I probably have never eaten so much food or enjoyed so much good company, but what was even better was that I was amazed to return and get on my scales (with one eye shut) to find I had lost 5lbs in weight.
It was simple really when I look back at what I had eaten, beacuase even though I had consumed much more than I would normally, it was mainly fish and meat. There was no bread, pasta, fish and chips (private joke) or Yorkshire pudding. This is all common sense of course but a lesson I have taken onboard and I have altered my eating habits now I am back home and I am now going in the right direction health and weight wise for the first time in many years. I may even need to get a new photo attached to my blog. That is another thing I have thank my Chinese friends for.
Thursday, 25 September 2008
China Business Development Team
After a recent trip to our offices in China, Linda Yang and I are busy on our China Business Development plans. On that point, we are pleased to welcome Ellen Li to our team.
The basic objective for our China Business Development Team is to link our large organisation in Hong Kong and China with our European capabilities through a group of experts capable of understanding every specific need in this market.
More will follow on this as it develops.
The basic objective for our China Business Development Team is to link our large organisation in Hong Kong and China with our European capabilities through a group of experts capable of understanding every specific need in this market.
More will follow on this as it develops.
Labels: China, Communication, Freight, Global Development Managers, Logistics, Staff
Tuesday, 23 September 2008
Argentina Project
YRCL Argentina secured a large project movement recently.
If any YRC Logistics EU staff are interested to view details of a recent air charter project they can view via the company intranet.
The project consisted of 20 tons/6 units of over-sized mining equipment from China to Argentina by a chartered flight. The biggest piece was as large as 5.4m x 3.6m x 3.8m.
The flight departed Tianjin, China on July 31st and arrived at Comodoro Rivadavia Airport, Argentina on August 2nd.
If any YRC Logistics EU staff are interested to view details of a recent air charter project they can view via the company intranet.
The project consisted of 20 tons/6 units of over-sized mining equipment from China to Argentina by a chartered flight. The biggest piece was as large as 5.4m x 3.6m x 3.8m.
The flight departed Tianjin, China on July 31st and arrived at Comodoro Rivadavia Airport, Argentina on August 2nd.
Labels: Air Freight, China, Freight, Service, Staff, transportation
Friday, 12 September 2008
China update
Linda Yang and I have travelled to Shenzhen, Shanghai, Beijing, Wuhan and Qingdao over the last 2 weeks. We presented to 100+ JHJ staff from these locations, plus numerous other regional JHJ offices with our ideas on how we are going to build our Chinese Business Development team in Europe. I was overwhelmed by the intelligent and visionary discussions we had, I am excited about the proposed future plans and I am looking forward to working closer together. Prior to this overseas trip to China, I thought I had decent knowledge about our JHJ China joint venture, but now my eyes are truly opened.
We operate in many locations that other major multi national logistics companies do not. We actually rent office space to some of them and complete local services for them such as customs clearance and commodity quality checks. Our staff are intelligent, graduate educated and treat every shipment and client as though it is their own business. The management are passionate and treat their staff as though they are their own family, all in all, we have awe inspiring offices.
I met many great people including a wonderful professional in Qingdao who reads all my blogs so I must say hello. Hi Lucy Fan, it was great to meet you and thank you for developing your European expertise and looking after the needs of YRCL Europe and our clients the importers and exporters, and thank you very much for all your hospitality.
Lastly before I travelled to China I planned to reward any of our staff that stood out from my meetings in China. To that note I am proud to say that Martin Wall was given huge praise from many offices. It seems Martin has been able to not only provide great service and communication to our JHJ offices but he has understood the special needs to deal with this market. Martin and I have worked together for over 12years at YRCL and he does provide extraordinary service to our clients. Martin, I thank you and you will receive £500 as a special reward in your salary.
In a few hours I will be heading home with much to do, but also with much excitement about the future development of our China team in Europe.
We operate in many locations that other major multi national logistics companies do not. We actually rent office space to some of them and complete local services for them such as customs clearance and commodity quality checks. Our staff are intelligent, graduate educated and treat every shipment and client as though it is their own business. The management are passionate and treat their staff as though they are their own family, all in all, we have awe inspiring offices.
I met many great people including a wonderful professional in Qingdao who reads all my blogs so I must say hello. Hi Lucy Fan, it was great to meet you and thank you for developing your European expertise and looking after the needs of YRCL Europe and our clients the importers and exporters, and thank you very much for all your hospitality.
Lastly before I travelled to China I planned to reward any of our staff that stood out from my meetings in China. To that note I am proud to say that Martin Wall was given huge praise from many offices. It seems Martin has been able to not only provide great service and communication to our JHJ offices but he has understood the special needs to deal with this market. Martin and I have worked together for over 12years at YRCL and he does provide extraordinary service to our clients. Martin, I thank you and you will receive £500 as a special reward in your salary.
In a few hours I will be heading home with much to do, but also with much excitement about the future development of our China team in Europe.
Friday, 5 September 2008
China acquisition completed
We have now closed on the acquisition of Jiayu, the third largest ground transportation provider in China.
We believe ground transportation is one of the critical elements in the supply chain, and in China it’s a major pain point for many of the clients of YRC Worldwide.
When you consider three years ago we were just getting started in China, to now we have made great progress and it is interesting to view some of the key points.
We have over 250 offices throughout China with approximately 4000 employees. Our revenues on a run rate basis when you include Jiayu will be between $350 to $400 million on an annualized basis. Lastly, from a profitability basis, although many companies told us early on that we would lose money for 3 to 5 years, this has not been the case. In fact, our Joint Venture with JHJ continues to show significant improvement and in July alone they more than doubled their profits compared to July of last year. We’ve always been profitable, every quarter and we have a massive amount of talent on the ground in China.
All of these developments mean we can offer our clients more value in this key market which is great postition to be in.
My blog updates may be a bit limited over the next 2 weeks as I am in China viewing some of these exciting developments.
We believe ground transportation is one of the critical elements in the supply chain, and in China it’s a major pain point for many of the clients of YRC Worldwide.
When you consider three years ago we were just getting started in China, to now we have made great progress and it is interesting to view some of the key points.
We have over 250 offices throughout China with approximately 4000 employees. Our revenues on a run rate basis when you include Jiayu will be between $350 to $400 million on an annualized basis. Lastly, from a profitability basis, although many companies told us early on that we would lose money for 3 to 5 years, this has not been the case. In fact, our Joint Venture with JHJ continues to show significant improvement and in July alone they more than doubled their profits compared to July of last year. We’ve always been profitable, every quarter and we have a massive amount of talent on the ground in China.
All of these developments mean we can offer our clients more value in this key market which is great postition to be in.
My blog updates may be a bit limited over the next 2 weeks as I am in China viewing some of these exciting developments.
Labels: China, JHJ, Logistics, transportation
Wednesday, 13 August 2008
China Developments
On 20th December 2007 YRC Logistics entered into a definitive agreement to acquire one of the largest ground transportation providers in China. This has given YRC Logistics extra services in China with 30,000 clients, 1,800 employees, 3,000 trucks, over 190 facilities in 80 cities with full transportation and distribution capabilities. In addition to the joint venture with one of the largest freight forwarders in China, JHJ, in 2005, this now gives YRC Logistics tremendous scale in China. As you may have already read in my blog, we are actively recruiting China experts, to be based in our European offices to cope with the extra demands. This really is an exciting period for YRC Logistics and staff that are interested in the fascinating market with China. To find more about our China capabilities please click http://www2.yrclogistics.com/yrcwlogistics.aspx?pgID=1046 or call 0800 6129374
Labels: China, JHJ, transportation
Tuesday, 12 August 2008
I am back and refreshed
I am back and refreshed from a 2 week family vacation in sunny Spain and being an avid sports fan I am keen to start watching the Olympics. I did manage to catch the opening ceremony and what an awesome experience that must have been if you were there live. I am actually going to China in September as with our growing China presence we are setting up the next stage in Europe for our China Business Development team. I am also really excited to view YRC Worldwide advertised on tv during the Olympics coverage, they can also be viwed by following http://yrcw.com/press/video/index.html. All the speakers are YRC Worldwide staff and a few are from YRC Logistics EU. I just hope I don't lose them to television contracts!
PS - we are still looking for more China logistics experts to join our fast growing team please contact muhammad.shah@yrclogistics.com or leave a comment for more information.
PS - we are still looking for more China logistics experts to join our fast growing team please contact muhammad.shah@yrclogistics.com or leave a comment for more information.
Labels: China, Freight, Olympics, Staff
Thursday, 10 July 2008
Have you read the latest headline in our news feed?
China Scrambles on Construction and Pollution to Meet Olympic Deadlines
Just one month before the Aug. 8 opening ceremony of the Beijing Olympics at the citys new National Stadium, numerous hurdles remain for organizers. Among the biggest: Worries about persistent pollution cloud the horizon, prompting the closing of scores of factories. www.yrclogistics-rss.info
Just one month before the Aug. 8 opening ceremony of the Beijing Olympics at the citys new National Stadium, numerous hurdles remain for organizers. Among the biggest: Worries about persistent pollution cloud the horizon, prompting the closing of scores of factories. www.yrclogistics-rss.info
Thursday, 15 May 2008
China shaken by massive earthquake
I had a good overseas trip and feel relaxed and ready to face work head on, but the earthquake in China puts work into perspective, so before I talk about anything else, my thoughts and prayers go to YRC Logistics staff and anyone else impacted by the terrible earthquake in China. If you are interested in reading more about this, we have a full story on our news feed. www.yrclogistics-rss.info
Labels: China, Earthquake
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