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Vietnam trade fair
Vietnam trade fair, China companies migrate inland on rising costsVisitors walk through the China Import and Export Fair (Canton Fair) in Guangzhou, China. Guangzhou Constant Shoes Co. is set to abandon Guangdong, the southeastern province at the center of Chinas exporting boom since the 1980s, by shifting most of its production 500 kilometers (311 miles) inland. Rising labor costs and a shrinking supply of workers in coastal areas are threatening to sap Chinas strength in exports, which account for more than a fifth of gross domestic product. To cope, the maker of womens and mens fashion footwear chose to tap a pool of cheaper labor in Yongzhou, Hunan province. “Within a year, our Guangzhou factory will only make samples,” sales manager Leon Zeng said. The more companies that join Guangzhou Constant in keeping production within Chinas borders instead of decamping to Asian neighbors such as Bangladesh, Vietnam or Indonesia, the longer the worlds second-largest economy may avoid slumping to less than 5 percent annual growth, an outcome investors in a Bloomberg poll forecast by 2016. vietnamhandicrafts Vietnamese handicraft Handmade viet nam Vietnam trade Handicraft vietnam Vietnam handicrafts Vietnam handicraft products Vietnam exporters Vietnam manufacturer Vietnam ceramic products Solid wood coffee table Vietnam furniture stock Wooden furniture manufacturer Vietnam Solid wood dining set “If we do this shift right, we can buy two decades and avoid shock therapy for the economy,” said Cai Fang, a Beijing- based member of the standing committee of the National Peoples Congress who helped draft Chinas five-year plan through 2015. “We still have low-hanging, Vietnam furniture, Vietnam furniture stock, Vietnamese exporters feel the Vietnam furniture stock / The financial crisis in Europe and resultant weaker consumption is posing a great danger to Vietnamese exporters, many of to pick.” The transition wont be easy. While its new location provides Guangzhou Constant with tax breaks and cuts wages by about 17 percent, transportation costs will rise by about 20 percent because of the longer distance moving goods to port. Supplier shortage Other impediments include fewer suppliers, the reluctance of young inland workers to take factory jobs and a lack of business savvy among, Wooden dining table, Solid wood dining set, 5 Ways to Care For a Wooden Dining Solid wood dining set, While we're getting back to basics this month here at The Kitchn, we wanted to take a look at maintaining wood dining tables local governments, according to manufacturers interviewed by Bloomberg News this month in Guangzhou at the Canton Fair, Chinas biggest trade show. Additional headwinds may come from abroad, as Europes sovereign-debt crisis and high unemployment in the US threaten to undermine global growth. Chinas exports rose at the slowest pace in almost two years in October as Europes deepening turmoil restricted demand. [Vietnam ceramic products - handmadevn - 200] Should companies overcome the obstacles, Chinas share of global exports could more than double to 23 percent in a decade, said Zhang Zhiwei, an economist at Nomura Holdings Inc. in Hong Kong. That would give the country more time to shift away from growth led by investment and foreign sales to a greater reliance on domestic consumption, a central plank of its five-year plan. Slowing growth Chinas economy expanded 9.1 percent in the third quarter from a year earlier, the least since 2009, after five interest-rate increases starting in October 2010 cooled property-price gains. Suppliers of goods used to build or decorate homes will, Sapa tour Sapa tours, Visa on arrival Vietnam, hoiantravel, Vietnam visa online, Information and Communications inspectors punished four websites using the gov.vn domain name for granting visas illegally. as new inland factories help create the need for more low-cost housing, said Andy Mantel, managing director of Pacific Sun Advisors Mantou Fund in Hong Kong. “I look for good companies that are making products that will benefit from the roll-out of social housing,” Mantel said. His fund has held China Liansu Group Holdings Ltd. (2128), a Foshan- based maker of plastic pipes, since last year., Vietnam company law Labour and employment lawyer, Vietnam company law, Famous Vietnam company law / Giving a name to a newly established business turns out to be a difficult job because of the unclear provisions in the Business Furniture Holdings Ltd. (1198), which makes home furnishings and has more than 2,000 stores in China, may rise to HK$4.13 ($0.53) in 12 months, according to Ethel Ng, an analyst with OSK Hong Kong Securities, amounting to an 82 percent jump from HK$2.27 as of 2:14 p.m. in Hong Kong. The company, based in Hong Kong, opened 350 stores in China this year through September, Ng said in a Nov. 4 research note. Fillip for spending Higher wages from the spread of manufacturing will help buoy inland consumer spending, said Mark Mobius, Singapore-based executive chairman of Franklin Templeton Investments Emerging Markets Group, which managed more than $56 billion in assets as of June. That will aid companies such as Uni-President China Holdings Ltd. (220), a Shanghai-based seller of juices, teas, yogurt and instant noodles, said Mobius, whose firm owns the stock. Taiwans Foxconn Technology Group, Chinas biggest exporter, is the highest-profile company to shift some production inland. The maker of Apple Inc.s iPhones and iPads opened a factory in Zhengzhou, the capital of central Henan province, in August 2010, and said in December it will invest more than $330 million in this and several other facilities including one in the southwestern city of Chengdu. Potential gain The inland factories will help boost the operating-profit margin at Hon Hai Precision Industry Co., Foxconns flagship company, as it saves about 40 percent on worker pay, said Daniel Chang, an analyst with Macquarie Securities Ltd. in Taipei. He predicts Hon Hai shares will reach NT$103 ($3.41) within a year, up 23 percent from NT$83.80 at 2:16 p.m. in Taipei. Annual wages of private companies urban manufacturing workers in Guangdong province averaged 21,644 yuan ($3,413) last year, compared with 16,391 yuan in Hunan and 15,495 yuan in Henan, according to government data. [Vietnam furniture stock - kodasaigon - 900] “A move inland is a must for companies in labor-intensive sectors,” Chang said. A rise in urban factory wages of 94 percent since 2005 has led some economists to conclude that China is nearing the so- called Lewis turning point, when surplus labor evaporates, pushing up pay, inflation and consumption. The concept, named after the late economist and 1979 Nobel laureate W. Arthur Lewis, is associated with rapid losses of competitiveness for sweatshop industries in South Korea and Taiwan in the 1980s. Surplus gone “Dramatic” increases in Chinas inflation-adjusted wages since 2004 indicate the “era of surplus labor is over,” the International Food Policy Research Institute said in a May 2010 paper titled “China Has Reached the Lewis Turning Point.” Rising wages are prompting Coach Inc., the largest US luxury-handbag maker, to move some production out of China in the next five years, with Vietnam and India as possible destinations, Lew Frankfort, chief executive officer of the New York-based company, said in May. Average monthly pay in January for “general workers” in Guangzhou was $281, compared with $114 in Ho Chi Minh City, Vietnam, and $54 in Dhaka, Bangladesh, according to data compiled by the Japan External Trade Organization. Lower wages may not be enough to lure some companies away from China. “Vietnam has got problems of its own” including labor strikes and Chinas government tends to be friendlier to business, Mobius said in a telephone interview. Transport challenge “It wont be easy shifting manufacturing to inland China but it has to be done because the alternatives are not that great,” he said. “Roads are getting better, railroads are getting better,” making shipping easier. Migrants working on the east coast also are returning home to take jobs inland, according to Cai, head of the Institute of Population and Labor Economics at the state-backed Chinese