Oic Trade

The Canton Fair has become the most comprehensive trade event in China since its inception in 1957 and the recent move to the larger Pazhou Complex should help with its ever-increasing expansion.   Held twice per year (Spring and Autumn) in Guanzhou, China’s “Flower City”, the fair has the largest scale, the widest variety of exhibits (nearly 20,000) and the most business turnover from nearly 200,000 buyers and expects even higher figures every year.  Instead of the traditional two phases, this year’s edition will be broken into three. Industries are scheduled to present in their respective phases, with each phase running for 5 days from October 15th to November 6th.

Canton Fair 104th Session: 

Phase 1: October 15th – 19th, 2008

Phase 2: October 24th – 28th, 2008

Phase 3: November 2nd – 6th, 2008

The 104th session will focus on industrial products, supplemented by consumer goods. The exhibits fall into 9 exhibition subsections.

1. Machinery and Equipment

2. Small Vehicles and Spare Parts

3. Hardware and Tools

4. Building Materials and Kitchen and Sanitary equipment

5. Electronics, IT Products and Household Electrical Appliances

6. Consumer Goods

7. Decorations and Gifts

8. Foodstuffs and Agricultural Products

9. Raw Materials

There’s no question on how successful of this major trading events in one of the world’s economic leading countries will be when you looked at the impressive statistical data. The previous fair in April welcomed 192,013 overseas buyers, increased by 1.3% compared to that in the last session. The Asia buyers reached 104,265, the European buyers 37,161, the American buyers 27,581, the African buyers 16,666, and the Oceania buyers 6,320 In terms of participating buyers, the top five countries and regions were Hong Kong SAR, America, Taiwan Province, India and Malaysia who enjoyed a business turnover of over USD 30,000 million.(Source: Chinacantonfair.com)

Since China has just opened its arms to the world not too long ago with the expansion of its international investment and also the hosting of some major world events such as Beijing Olympic 2008 which welcomed all people from around the world to get involve, everyone knows that all statistics were just only in the beginning stage.   

For more information regarding The Canton Fair 104th session, check on Chinacantonfair.com. Please also note that business travelers are recommended to solidify their travel plans early, in order to receive – the best deals on their flight and hotel in Guangzhou which provide easy access to the Canton Fair.

It is impossible to be in international trade without involving your bank for all the services they provide such as advice on financial issues and the potential risks involved. It is true that one critical hurdle for SMEs is the lack of information on international trade processes, documentation and banking procedures necessary to carry on with business abroad. For result oriented and cost effective international trade, you will very definitely need access to accurate and timely information and a sound knowledge of banking.



Payment Options in International Trade

Quite obviously all payments in an international trade are made through bank either by way of wire transfer or check with the latter not being preferred for not being the quickest. The following are some of the common ways of payment modes in international trade.

1. Banker’s Draft is a cheaper option and easier to obtain but there is a risk of loss in transit. The only advantage it has against check is quicker credit that the exporter gets.

2. Letter of Credit. This international trade instrument is mutually convenient for both the parties. The exporter gets paid once he produces the copy of BoL (bill of lading) which he receives from the shipping company and the LoC, to the bank, regardless of whether the consignment as arrived at destination or not.

3. Wire transfer is by far the fastest and the cheapest option in which the importer will instruct his bank to transfer the amount to the exporter’s bank account. The first time, the transfer happens in about 10-15 days depending on the destination country and the routing bank. International wire transfers are made through intermediary banks/correspondent banks.

4. Although not in a big way, some China manufacturers accept Paypal for smaller amounts such as US$5,000 but require 3% extra to compensate for the charges. Paypal is the quickest and easiest mode of payment in international trade.

Banks that are serving international trade, understand the crucial role they are required to play. Many large banks maintain worldwide correspondents to provide quick delivery of actual currency, wired money or drafts. You may choose your bank for international trade account on the basis of whether the bank can extend advances against the account receivables. Bank may, however, require your account secured through export credit insurance provided by Export Import Bank of United States. Banks also let you enter into forward exchange contract with your bank and fix the amount of the foreign exchange you receive when you are dealing in convertible currencies. You need your bank to be with you as long as you are in international trade.

Why do people enjoyed the most gold in the world? In terms of history we would find gold always touted as the most valuable objects. So precious possessions such as gold is a measure we classify as rich or as poor. For further in terms of history of gold, then we start at the beginning of civilization Sumer and Egypt. In this civilization of ancient coins and silver coins are an important part of trading. At first the gold coins that are traded only with weight loss which can then be cut into small pieces or drawn into wire. And gold coins, seen more as accounting standards or tax to the lord or shrine, not for general circulation among ordinary people. The first real gold coins were not made until the 6th century BC in Lydia (Western Turkey). They were made of electrum, a natural alloy of gold and silver found in the rivers in this region. Until today it remains the gold of the most valuable property fund gold price is always in the highest position. Even gold is used as an online business tool. For the price of gold or gold was used to find the spot gold price gold this time and online graphics. Gold spot prices have remained began on 12 September 1919 origionally by bullion traders and refiners that time. They are NM Rothchild & Sons, Wilkins Sharps, Pixley & Abell, Samuel Montagu & Co., Mocatta & Goldsmid. Gold prices are set and are designed to provide a level recognized as a baseline for the majority of gold when the price of gold products and derivatives in this entire world market. Thus the gold price is 18 shillings and four swimming ninepence troy ounce.