Exports to China vital to US economy, job growth: USCBC

WASHINGTON, Aug. 18 (Xinhua) — Exports of goods and services to China continue to play an essential role in the U.S. economy and job growth, according to a report released Thursday by the U.S.-China Business Council (USCBC).

U.S. goods exports to China totaled 113 billion U.S. dollars last year, down from the previous two years, but China remained the third-largest export market for American goods, USCBC said in an annual report on U.S. state exports to China.

The report noted that the rapid growth in U.S. services exports to China is an important new development of bilateral economic relationship. In 2014, the most recent complete year of available data, U.S. service exports to China reached 42 billion dollars, making China the United States’ fourth-largest services export market.

Despite of a slowdown in China’s economy and trade growth, “U.S. exports of goods and services to China have grown faster than exports to any other major U.S. trading partner over the past decade”, the report said.

U.S. goods exports to China increased 115 percent from 2006 to 2015, while U.S. services exports to China increased more than 300 percent from 2006 to 2014, according to the USCBC.

“Most states have seen significant increases in exports of goods and services to China since 2006,” the report said, adding that thirty-one states experienced at least triple-digit goods export growth to China in the past decade and every U.S. state had triple-digit services export growth to China over the same period.

The report also noted that exports of goods and services to China helped support a wide range of industries including transportation equipment, agriculture, computers and electronics, chemicals, travel and education, business and professional services, and financial services in the United States.

While China is a significant market for American exports, the U.S. has a small share of China’s overall market. U.S. goods accounted for only 6.5 percent of China’s total imports last year, the report said, urging the United States to push forward negotiations with China on a high-standard bilateral investment treaty, which would facilitate and expand U.S. exports to China.

The two countries have held 26 rounds of investment treaty talks since negotiations started in 2008. China and U.S. officials have signaled a willingness to finalize a deal before U.S. President Barack Obama leaves the White House in January 2017.

Read more here: http://news.xinhuanet.com/english/2016-08/19/c_135613304.htm

China to Levy Duties on Some Exports from US, Japan

BEIJING – China will levy antidumping duties on imports of iron based amorphous alloy ribbon from the United States and Japan by requiring deposits for such imports, the Ministry of Commerce said on Thursday.

The move came after the initial findings of an investigation launched late last year showed evidence of dumping, according to the ministry’s website.

Importers will be required to pay customs deposit fees ranging from 25.9 percent to 48.5percent according to the level of dumping.

The ministry did not specify when the measure will take effect.

In November, when China announced its investigation into the sales of iron based amorphous alloy ribbon from US and Japan, it said the probe was likely to end before Nov 18, 2016, but could be extended to May 18, 2017.

Read more here: http://www.chinadaily.com.cn/business/2016-08/18/content_26519072.htm

U.S. punitive duties on solar imports from China disrupt industry chain: MOC

The Ministry of Commerce (MOC) on Tuesday said China was disappointed at the United States’ punitive duties on Chinese solar products, saying the practice disrupted the global industry chain.
“We were disappointed by our U.S. counterpart as we believe its constant anti-dumping and anti-subsidy measures on Chinese photovoltaic products has seriously disrupted the development of the global industry chain,” said MOC spokesperson Shen Danyang during a routine press conference.
The U.S. Commerce Department decided recently to levy anti-dumping duties ranging from 6.12 percent to 12.19 percent and countervailing duties of 19.2 percent on imports of photovoltaic products from China.
Photovoltaic products are beneficial to environmental protection and pollution reduction. With relatively advanced technology, China has developed lot of quality photovoltaic products and services, while importing a large amount of raw materials and equipment, Shen said.
In this respect, and as major photovoltaic markets, China and the U.S. have a promising cooperation future, he said.
Shen said he hopes to enhance dialogue and consultation with relevant countries, including the United States, to solve trade frictions in this field via industrial cooperation to contribute to global climate change tasks.

Didi, Uber yet to submit merger papers to ministry

The Ministry of Commerce said it hasn’t received business declaration from Didi Chuxing and Uber Technologies Inc though both companies announced merger Monday.

Under the deal, Didi Chuxing agreed to acquire the China business of its rival Uber Technologies Inc.

All businesses with large operation scale that may monopolize the market must submit business declaration to the Ministry of Commerce for record, as well as wait for further anti-trust investigation. Companies without such clearance will not be allowed to carry out merger and acquisition in China.

Shen Danyang, the ministry’s spokesman, said as these two companies haven’t submitted business declaration to the ministry, their merger will not become effective and legal.

Didi Chuxing and its previous rival Kuaidi also didn’t submit business declaration to the Ministry of Commerce when they merged last year, according to the ministry.

Read full article here: http://www.chinadaily.com.cn/business/2016-08/02/content_26316244.htm

China FDA stops online med sales

Industry watchdog says that consumers’ interests could not be well safeguarded

Chinese e-commerce giant Alibaba Group Holding Ltd has ceased online sales of medicines on its Tmall platform as the government tightens its control over the country’s nascent e-pharmacy industry.

Tmall, the business-to-consumer site of Alibaba, told its online vendors that the site will stop the online sales of medicines as of August 1, citing changes in government regulation.

Tmall said in a statement that it will “adjust its business model based on the new regulation in order to provide better service to customers within the law”.

The change of regulation put an end to China’s trial of selling drugs products directly to consumers via online third-party platforms. The change of regulation does not apply only to Tmall. Other e-commerce companies involved in selling drugs on third-party platforms, such as Yhd.com have also received the same ban.

A news report posted on the official website of China Food and Drug Administration said that “it is unclear which party (the e-commerce site or the online vendors) should take responsibility when drug products are sold online via third-party platforms”.

“It is difficult to monitor the quality of drug products sold this way and it is not possible to protect the interests of consumers and ensure safe usage of drugs. Therefore, we decided to end the trial operation”, said the report.

Analysts said that the regulation will not significantly hurt Tmall’s medicine business, as only an estimated 20 percent of its sales are drug products. The other 80 percent are health products and medical equipment.

 

Read full article here: http://www.chinadaily.com.cn/business/2016-08/02/content_26307730.htm