Top: Regional: Asia: China: Business and Economy

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Industries

Iron and steel, coal, machine building, armaments, textiles and apparel, petroleum, cement, chemical fertilizers, footwear, toys, food processing, automobiles, consumer electronics, telecommunications.


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Overview

In late 1978 the Chinese leadership began moving the economy from a sluggish, inefficient, Soviet-style centrally planned economy to a more market-oriented system. Whereas the system operates within a political framework of strict Communist control, the economic influence of non-state organizations and individual citizens has been steadily increasing. The authorities switched to a system of household and village responsibility in agriculture in place of the old collectivization, increased the authority of local officials and plant managers in industry, permitted a wide variety of small-scale enterprises in services and light manufacturing, and opened the economy to increased foreign trade and investment. The result has been a quadrupling of GDP since 1978. Measured on a purchasing power parity (PPP) basis, China in 2003 stood as the second-largest economy in the world after the US, although in per capita terms the country is still poor. Agriculture and industry have posted major gains especially in coastal areas near Hong Kong, opposite Taiwan, and in Shanghai, where foreign investment has helped spur output of both domestic and export goods. The leadership, however, often has experienced - as a result of its hybrid system - the worst results of socialism (bureaucracy and lassitude) and of capitalism (growing income disparities and rising unemployment). China thus has periodically backtracked, retightening central controls at intervals. The government has struggled to (a) sustain adequate jobs growth for tens of millions of workers laid off from state-owned enterprises, migrants, and new entrants to the work force; (b) reduce corruption and other economic crimes; and (c) keep afloat the large state-owned enterprises, many of which had been shielded from competition by subsidies and had been losing the ability to pay full wages and pensions. From 80 to 120 million surplus rural workers are adrift between the villages and the cities, many subsisting through part-time, low-paying jobs. Popular resistance, changes in central policy, and loss of authority by rural cadres have weakened China's population control program, which is essential to maintaining long-term growth in living standards. Another long-term threat to growth is the deterioration in the environment, notably air pollution, soil erosion, and the steady fall of the water table especially in the north. China continues to lose arable land because of erosion and economic development. Beijing says it will intensify efforts to stimulate growth through spending on infrastructure - such as water supply and power grids - and poverty relief and through rural tax reform. Accession to the World Trade Organization helps strengthen its ability to maintain strong growth rates but at the same time puts additional pressure on the hybrid system of strong political controls and growing market influences. China has benefited from a huge expansion in computer internet use. Foreign investment remains a strong element in China's remarkable economic growth. Growing shortages of electric power and raw materials will hold back the expansion of industrial output in 2004.


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Agriculture - Products

Rice, wheat, potatoes, sorghum, peanuts, tea, millet, barley, cotton, oilseed; pork; fish.


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Consumer goods

China International Consumer Goods Fair (CICGF), approved by the State Council, co-sponsored by Ministry of Commerce P.R.C. and Zhejiang Provincial People's Government, is the international consumer goods fair with high grade and large scale held in China.

CICGF is held in the famous harbor city of Ningbo June 8-12 every year. Four sessions have been successfully held since 2002.In June 2003,China International Consumer Goods Fair online began run. Italy's a perennial online trade platform offer for consumer goods merchant with advanced technology of network. From worldwide multinational buyers foreign offices importers and exporters and suppliers come from another provinces and cities can not limit with time, place and space. It achieves more internationalization specialization and standardization online trade show than tradition fair.

CGFAIR is a EC platform supported by Ministry of Commerce P.R.C.. It will help Chinese companies to use network technology effectively develop EC and find more trade chance and more developing space in international consumer goods market. At the same time, it offers more goods and stock chances for international buyers. It can show the level of EC application and development of Chinese companies.


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References

http://www.cicgf.com
http://www.consumergoodsworld.com



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