UPCOMING EVENTS
42nd InterCham Young Professional Cocktail – 24.2.10
The 42nd InterCham Young Professional Cocktail will be held on Wednesday, 24 February 2010 from 6:30 pm to 9:30 pm at PRIVÉ, G/F., 60 Wynhdam Street, Central.
Ticket price: HK$180 each including 2 standard drinks and canapés.
No admittance without a ticket and tickets will not be sold at the door. Please order your ticket by sending us an email on or before Wednesday, 17 February 2010. First come, first served.
OTHER ACTIVITIES OR INFORMATION
Negotiation of a Free Trade Agreement Between Hong Kong and the European Free Trade Association
The HKSAR Government would commence negotiating a Free Trade Agreement with the European Free Trade Association in early 2010 and the Trade and Industry Department is seeking views from interested parties on the negotiations.
The full consultation document can be found here.
Feedback should be forwarded to the Europe Division of the Trade and Industry Department by 12 February 2010.
Draft Companies Bill - First Phase Consultation
The Financial Services and the Treasury Bureau (FSTB) of the HKSAR Government has recently launched the first phase consultation on the Draft Companies Bill.
The consultation document can be viewed from the hyperlinks below:
FSTB sincerely invites views from you on the proposals mentioned in the consultation document. The consultation period will last until 16 March 2010.
BUSINESS OPPORTUNITIES
WeldEye® - application for welding related fabrication
Weldindustry AS, the leading supplier of welding quality and documentation software in Norway, is expanding their business into the Asian market.
WeldEye® is the complete software application covering all welding documentation and quality requirements for welding procedures, welding certificates, Non Destructive Testing (NDT) and process control of your production. WeldEye® will fit any size and type of organization with requirements from international standards like ISO, ASME, AWS D1.1.
The system is module based and enables managing of documentation and reporting in the project. This provides optimal control and use of resources.
WeldEye® links functions and documents, enabling full traceability for all welding activities before, during and after welding.
WeldEye® can be deployed on standard IT platforms and accessed from any PC (with a browser such as Internet Explorer) and different devices (PDA, mobile phones, etc).
Caps and hats
Huge Fortune Industrial Ltd. is a manufacturer of caps and hats with its own factory in Dongguan, China. They produce all kinds of baseball caps, hats, beanies, gloves, bags, backpacks and routine export to Europe and USA.
UPCOMING TRADE FAIRS & EXHIBITIONS
HONG KONG
APRIL 13 TO 16
HKTDC Hong Kong Electronics Fair 2010 (Spring Edition)
Organiser: Hong Kong Trade Development Council
Venue:Hong Kong Convention and Exhibition Centre, Wanchai
Tel: (852) 2240 4801 Fax: (852) 2824-0026
APRIL 20 TO 23
HKTDC Hong Kong International Home Textiles Fair 2010
Organiser: Hong Kong Trade Development Council
Venue:Hong Kong Convention and Exhibition Centre, Wanchai
Tel: (852) 2240 4359 Fax: (852) 2824-0026
APRIL 20 TO 23
World of Pet Supplies 2010
Organiser: Hong Kong Trade Development Council
Venue:Halls 3F-G, Hong Kong Convention and Exhibition Centre, Wanchai
Tel: (852) 2240 4616 Fax: (852) 2169 9029
APRIL 27 TO 30
HKTDC Hong Kong Gifts & Premium Fair 2010
Organiser: Hong Kong Trade Development Council
Venue:Hong Kong Convention and Exhibition Centre, Wanchai
Tel: (852) 2240 4028 / 4358 Fax: (852) 2824 0026
APRIL 27 TO 30
Hong Kong International Printing & Packaging Fair
Organisers: Hong Kong Trade Development Council and CIEC Exhibition Company (HK) Limited
Venue:AsiaWorld-Expo, International Airport, Hong Kong
Tel: (852) 2827 5078 Fax: (852) 2827 5535
NORWAY
APRIL 8 TO 11
Villmarksmessen (The Scandinavian Game Fair)
Organiser: Villmarksmessen AS
Venue: Norway Trade Fairs Centre, Lillestrøm
Tel: +47 66 77 60 90 Fax: +47 66 98 16 23
APRIL 9 TO 11
Hage 2010 (Garden Fair)
Organiser: Norges Varemesse
Venue: Norway Trade Fairs Centre, Lillestrøm
Tel: +47 66 93 91 50
CHINA
APRIL 4 TO 7
China International Gifts Premium & Houseware Exhibition
Organiser: Reed Huabo Exhibitions (Shenzhen) Co. Ltd.
Venue: Beijing China International Exhibition Center, Beijing
Tel: (86)-(755)-33331166 Fax: (86)-(755)-33331168
APRIL 8 TO 11
China (Shanghai) International Boat Show
Organiser: Shanghai UBM Sinoexpo International Exhibition Co., Ltd
Venue:Shanghai Exhibition Center, Shanghai
Tel: (86)-(21)-64371178 Fax: (86)-(21)-64370982
APRIL 9 TO 12
The 15th China Int'l Construction & Decoration Materials Exhibition
Organiser: Dalian Northern International Exhibition Limited
Venue:Dalian Star-Sea Convention & Exhibition Center, Dalian
Tel: (86)-(411)-82538690 Fax: (86)-(411)-82538616
APRIL 15 TO 19
China Import & Export Fair (Canton Fair)
Organiser: China Foreign Trade Centre
Venue: China Import & Export Fair Pazhou Complex , Guangzhou
Tel: (86)-(20)-26089999 Fax: (86)-(20)-83335880
APRIL 18 TO 21
China International Medical Equipment Fair
Organiser: Reed Exhibitions China Head Office
Venue: Shenzhen Convention & Exhibition Center, Shenzhen
Tel: (86)-(10)-85189070 Fax:+(86)-(10)-8518 9060
APRIL 24 TO 26
China Food Industry & Food Export Fair
Organiser: Qingdao Jinnuo Exhibition Co. Limited
Venue: Qingdao International Convention & Exhibition Center, Qingdao
Tel: (86)-(532)-85710837/85785101 Fax: (86)-(532)-85785105
APRIL 27 TO 29
Shanghai Environmental Protection Exhibition
Organiser: Shanghai Zhongmao Exhibition Service Co. Limited
Venue: Intex Shanghai, Shanghai
Tel: (86)-(21)-54592323 Fax:+(86)-(21)-54253480
TAIWAN
APRIL 12 TO 15
AutoTronics Taipei 2010 (2010 Taipei Automobile Electronics Show)
Organisers: Taiwan External Trade Development Council (TAITRA) and Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA)
Venue: Taipei World Trade Center Nangang Exhibition Hall, Taipei
Tel: +886-2-2725-5200 Fax: +886-2-722-7324
APRIL 23 TO 26
Giftionery Taipei 2010
Organisers: Taiwan External Trade Development Council (TAITRA)
Venue: Taipei World Trade Center (TWTC) Exhibition Hall 1, Taipei
Tel: +886-2-2725-5200 Fax: +886-2-2725-1959
APRIL 29 TO MAY 2
2010 Taipei Int’l Sporting Goods Show (TaiSPO 2010)
Organisers: Taiwan External Trade Development Council (TAITRA)
Venue: TWTC Nangang Exhibition Hall, Taipei
Tel: +886-2-27255200 ext. 2262 & 2658 & 2865 Fax: +886-2-27291089
HONG KONG UPDATE
HK's 2010 economic outlook uncertain
The 2010 economic outlook for Hong Kong is subject to uncertainties because the pace of global economic recovery is still unclear, Financial Secretary John Tsang says.
He today told lawmakers Hong Kong's economic performance will inevitably be affected by the external environment.
"Given the sheer size of the US economy, it would be difficult for the emerging economies in Asia to replace the US in leading global economic recovery. According to past experience, double-dip recessions are not uncommon in the US. If the US economy is to show a renewed relapse, it is very likely that Hong Kong's economic recovery will also be affected.
"Reportedly, Paul Krugman has recently indicated that the chance of the US falling back to recession in 2010 can be as high as 40%, while both Martin Feldstein and Joseph Stiglitz have opined that the odds of the US economy seeing a strong recovery in 2010 are small. The International Monetary Fund holds a similar view that the global economic recovery will be weak, and that there are downside risks to the global economic outlook."
Close watch
The Government will continue to monitor the economic situation and, if necessary, introduce measures to ensure that the economic recovery is on solid ground. An appropriate exit strategy is key as this will ensure sustainable economic growth, he added.
"The Government is now consulting the public on the 2010-11 Budget. We will consider the latest economic situation, adhere to the three basic principles of pragmatism, commitment to society and sustainability, and prudently formulate the next budget, maintaining a right balance among expenditure, revenue and fiscal reserves."
(news.gov.hk) 13.1.10
Food waste treatment centre set for 2013
The planned organic waste treatment facility in North Lantau, which can handle 200 tonnes of food waste daily, will be commissioned by 2013-14.
Secretary for the Environment Edward Yau told lawmakers today the Government is planning the development of the modern facility at Siu Ho Wan. By using biological technology, source-separated food waste can be turned into useful resources like compost and biogas.
Almost 3,000 tonnes of food waste is disposed of in landfills daily, down from 3,300 tonnes in 2007. About 70% originates from households and 30% from the commercial and industrial sectors.
Mr Yau said the Government has introduced a good waste recycling partnership scheme with the commercial and industrial sectors to promote good food waste management practices.
"We will jointly produce a code of practice on the management of food waste with [the] sectors to assist them in avoiding and reducing food waste, and to separate food waste at source," he said, adding the participants' experience will be consolidated as guidelines will be disseminated to the sectors through the internet, pamphlets, workshops and seminars.
To further reduce food waste and disposable lunchboxes the Environment and Education Bureaus will invite schools to sign a Green Lunch Charter this year.
The Environment & Conservation Fund has reserved $50 million to help schools conduct retrofitting works and install the facilities necessary for implementing "on-site meal portioning". Applications have already started. New school premises will also be designed to facilitate such an implementation at school.
(news.gov.hk) 13.1.10
Views sought on REIT code changes
The Securities & Futures Commission today launched a two-month consultation to solicit public comments on extending the Codes on Takeovers & Mergers & Share Repurchases to real estate investment trusts, or REITs.
Views are also sought on applying the market misconduct and disclosure of interests provisions in the Securities & Futures Ordinance to listed collective investment schemes.
The Commission believes, given the development of REIT markets in Hong Kong and other parts of Asia, and rising interests in mergers and acquisitions of REITs, it is an appropriate time to review the regulatory regime governing takeovers and mergers of REITs with a view to providing better protection for minority unit holders.
"We believe the proposals represent a step forward in defining a regulatory infrastructure that better protects the interests of investors and assists the further development of Hong Kong's REIT market," the commission's Chief Executive Officer Martin Wheatley said.
The first part of the proposals call for amendments to the REIT Code, including aligning the control structure of REITs with that of listed companies, and to the codes including introducing a set of REIT guidance notes to the codes.
The second part seeks to clarify and enhance the regulation of market conduct regarding dealings in listed collective investment schemes by applying Parts XIII to XV of the ordinance to them. While Parts XIII and XIV deal with market misconduct, Part XV stipulates disclosure of interests requirements for listed companies.
Click here for the proposals. Comments should reach the commission by March 8.
(news.gov.hk) 8.1.10
NORWAY UPDATE
Better outlook for aluminium
Higher prices on the world markets for metals and a stable US dollar exchange rate, have improved the outlook for the aluminium industry, Bergens Tidende reports.
The price for aluminium has increased from less than USD 1500 per ton in March last year to USD 2300 per ton this year.
However, it is still well below the top price of USD 3300 per ton a year ago.
Still, the major aluminium suppliers now see the possibility of re-opening closed-down production capacity.
Communication director Hallvor Molland of the Norwegian aluminium producer is optimistic, but says more than a period of higher prices is needed, before celebration is in order.
Hydro is a global supplier of aluminium and aluminium products, and the third-largest integrated aluminium supplier in the world.
(NRK/Aftenposten) 14.1.10
Travel: Norway recommended by New York Times
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The New York Times recommends the "Stunnig Lyngen Alps" in Northern Norway as one of the "31 places to Go in 2010", and asks "Who needs a penthouse suite when you can book a lighthouse on a private island?" The US newspaper writes that with an acclaimed new opera house and plenty of high-end dining options, Oslo is already a must-visit urban destination. But this year the focus should be on the wilds of the Norwegian countryside. With its dazzling Nordic light and dramatic landscape, Norway is perhaps the most unexplored and exotic corner of Europe.
- Having convinced the world that its fjords and southern coastline make the country a great summer getaway, Norwegians have begun showcasing its charms as a winter destination
The paper says that specialized trekking and ski tours can open up pristine areas of the north like the stunning Lyngen Alps, with high-speed boats to shuttle across the fjord to ski trails that would otherwise be inaccessible.
And the country’s indifference to trendy boutique hotels and splashy resorts — long the lament of global tourism professionals — is just what appeals to a more discerning clientele. "Who needs a penthouse suite when you can book a lighthouse on a private island?" writes New York Times correspondent Andrew Ferren.
(NRK) 10.1.10
Major wind power contract to Statoil and Statkraft
The Crown Estate has announced that the Forewind consortium, comprising Norway's Statoil and Statkraft, as well as SSE and RWE Npower has been named as the successful bidder for the largest zone in the third licence round (Round 3) for UK offshore wind farms, Dogger Bank.
The Dogger Bank zone is located off the east coast of Yorkshire between 125 and 195 kilometres offshore. It extends over approximately 8,660 km2 with its outer limit aligned to UK continental shelf limit as defined by the UK Hydrographic Office. The water depth ranges from 18-63 metres.
As the licence holder, Forewind will now begin to carry out the extensive surveys, assessments and planning required for the consent process.
The Dogger Bank zone is large and a possible development has to be carried out stepwise with several projects.
The consortium's commitment is to secure all the necessary consents for the construction and development of Dogger Bank, up to the point of investment decisions, which is anticipated from 2014.
Forewind has agreed with The Crown Estate a target installed capacity of 9GW, though the zone has a potential for approximately 13GW, which equates to around 10 per cent of total UK electricity requirements.
The consortium combines international offshore project delivery and renewables generation experience with UK utility and wind power expertise.
Forewind general manager Frank-Are Steinbakk said:
"The partners in the consortium are very satisfied with the announcement of Forewind as the successful bidder for Dogger Bank. This is an exciting project that is important for all the partners’ ambitions within offshore wind. There are many technical and logistical challenges to be addressed so Forewind will need to both draw fully on the experience of each of the partners and also look for innovative suppliers and contractors to help us ensure we address all the issues and achieve consent."
"Offshore wind is a strategic pillar for Statoil’s new energy business. Our goal is to mature the projects in the Dogger Bank zone up to investment decision, hopefully making profitable and technical feasible projects for the companies. Dogger Bank is a challenging zone where our competence from the offshore oil and gas business will be of significant value," says Margareth Øvrum, executive vice president of Technology & New Energy in Statoil.
UK Energy and Climate Change Secretary Ed Miliband said:
“Our island has one of the best wind energy resources in Europe and today’s news shows we’re creating the right conditions for the energy industry to invest in harnessing it. This is one of the strongest signals yet that the UK is locked irreversibly into a low carbon, energy secure prosperous future.”
Both Statoil and Statkraft are involved in the development of the 315MW Sheringham Shoal offshore wind farm in UK.
(NRK/Press release) 8.1.10
China major importer of Norwegian salmon
China could soon take over from Japan and become Norway's largest market for the export of salmon to Asia. In 2009 only, the export of salmon to China increased by nearly 60 per cent.
Norway is now selling 23,000 tons of salmon to China annually, and last year the export was worth NOK 800 million.
The main reason for the increase is the increasing prosperity among the Chinese, and their focus on healthy food, says Lerøy representative Lu Lu Schjerven.
(NRK) 7.1.10
CHINA UPDATE
Target of Urbanization Rate in Central China by 2015 to Be 48%
The National Development and Reform Commission released the full text of the Planning for Boosting the Rise of Central China on January 11, stating that the urbanization rate in central China will rise to 48% up to 2015, while the present urbanization rate in the area is only 40.3%.
The Planning told that the proportion of central China's realizing economic aggregate will be further raised by 2015, with per capita regional GDP to reach the national average level and the urbanization rate to rise to 48%.
The urbanization level in central China is presently rather low, so to realize the target of 48% means that the future urbanization construction shall be greatly sped up, while the improvement of urbanization rate will have a direct effect on the development of such industries as real estate, infrastructures and consumption and service.
(MOFCOM) 13.1.10
China's 2009 foreign trade falls 13.9% to $2.21 trln with surplus at $196.1 bln
China's foreign trade in 2009 dropped 13.9 percent from a year earlier to 2.21 trillion U.S. dollars and its trade surplus last year slid 34.2 percent year on year to 196.1 billion U.S. dollars, according to figures released Sunday by the General Administration of Customs (GAC).
In breakdown, China's exports in 2009 stood at 1.2 trillion U.S. dollars, down 16 percent from in 2008, and imports reached 1.01 trillion U.S. dollars, down 11.2 percent from a year earlier, said the GAC.
In December 2009, monthly trade amounted to 243 billion U.S. dollars, which represented a year-on-year increase of 32.7 percent and a month-to-month rise of 16.7 percent.
Last month, China's exports were worth 130.7 billion U.S. dollars, up 17.7 percent from a year earlier. December's imports hit record monthly high to reach 112.3 billion U.S. dollars, up 55.9 percent from the same period of 2008, according to the GAC.
(MOFCOM) 11.1.10
Beijing's per capita GDP estimated to exceed $10,000 in 2009
The annual per capita GDP in Beijing was expected to top 10,000 U.S. dollars in 2009 as the national capital expected an over 9.5 percent economic growth for the same year, said an official with the municipal economic planning agency Thursday.
Beijing expected to rake in financial revenue totaling 202.7 billion yuan (about 29.8 billion U.S. dollars), up 10.3 percent year on year, said Zhang Gong, head of the Beijing Municipal Development and Reform Committee.
The income of urban and rural residents were estimated to rise by 9 percent and 12 percent respectively in 2009 compared to 2008 figures, said Zhang.
Government policies and investment had helped boost local industries amid the global downturn, Zhang said. The city's industrial added value was expected to grow by about 8 percent and the service sector by more than 10.5 percent in 2009, accounting for 73.5 percent of Beijing overall economic strength.
Beijing also strengthened infrastructure construction in 2009 to raise its capability for sustained development, Zhang said. The length of highways and track traffic lines in operation reached 884 kilometers and 228 kilometers respectively currently. The city still has 276.7 kilometers of track traffic line under construction, he said.
The annual per capita GDP in Beijing was more than 9,075 U.S. dollars in 2008 and the figure was 7,370 U.S. dollars in 2007.
(MOFCOM) 9.1.10
China reveals plan to develop Hainan into global tourism destination
The Chinese government said on Monday that it aims to build the southern island of Hainan into a top international tourism destination by 2020.
The country also plans to develop the only tropical island province to be a platform for international economic cooperation and cultural exchanges, according to a statement of the State Council, or the Cabinet, released on Gov.cn.
The island will also become a base of agricultural production and a base for developing resources and services in the South China Sea, said the statement.
The government said it would maintain the healthy development of the island's property sector and encourage developers to build premium hotels and resorts. It also supports family-run hotels and property-rental services.
Efforts should also go to the financial sector in the island by pushing forward the trial program of cross-border trade RMB settlement and backing qualified tourism firms to get listed in the stock market.
The plan also includes measures to promote modern tropical agriculture in Hainan, including tropical fruits, aquatic products and others, and expand its agricultural cooperation with Taiwan.
The government will further extend its favorable visa-free policy to five other nations including Finland, Denmark, Norway, Ukraine and Kazakhstan from the previous 21 nations including the United States, Japan and Canada.
The statement also said the government would boost the island's development by expanding oil and gas exploration, offering more duty free services, improving transportation networks, developing logistics, reducing pollution, building more information networks and infrastructure.
The government plans to lift the value-added output of tourism in Hainan to more than 8 percent of its gross domestic product (GDP) by 2015 and more than 12 percent by 2020, the statement said. Figure of how much value-added output of tourism accounted for in the province's GDP in 2008 was not available.
Hainan's preliminary GDP stood at 145.9 billion yuan (21.36 billion U.S. dollars) in 2008, up 9.8 percent year on year.
(MOFCOM) 5.1.10
TAIWAN UPDATE
Taiwan plans to sell NT$520 bil. of bonds in 2010
Taiwan plans to sell about NT$520 billion of debt with maturities of two years or longer in 2010, Finance Minister Lee Sush-der said yesterday.
The Ministry of Finance (MOF) will hold 15 auctions of bonds to raise funds for spending, it said in a separate statement given ahead of a briefing in Taipei yesterday. The government also plans to conduct 11 Treasury bill auctions this year, Lee said at the briefing. It sold NT$470 billion of bonds in 2009.
Taiwan's legislature Tuesday approved a budget deficit of NT$162.8 billion for 2010 as taxes are cut to help stimulate the economy. The government is expected to sell bonds to fund the shortfall and a projected NT$66 billion debt repayment, the Directorate-General of Budget, Accounting and Statistics said Tuesday.
Lawmakers also cut planned spending for this year by 1.2 percent to NT$1.715 trillion from a proposed NT$1.735 billion. The expected revenue this year remains almost unchanged from the Cabinet's proposal for NT$1.552 trillion.
Separately, Lee said Taiwan's National Stabilization Fund invested NT$59.9 billion in stocks last year.
The value of the stock investments has risen to about NT$80 billion, Lee said.
(TaiwanHeadlines) 14.1.10
3rd terminal at Taoyuan airport may be built on BOT model
The third terminal at Taiwan Taoyuan International Airport may be constructed under the build-operate-transfer (BOT) model and the possibility of foreign investment in the project will not be excluded, an official said Monday.
The third terminal will be far larger than the two existing terminals at the airport, according to the Ministry of Transportation and Communications (MOTC) official.
In light of the involvement of foreign professional bidders in the planning, design and operation of other major airports in Asia, the official said, the MOTC does not rule out the possibility of allowing foreign investment in the construction and management of the new terminal, under the BOT formula.
The BOT formula allows private business groups to build and operate a public infrastructure construction project for a specified period of time and then transfer ownership to the government.
The official said that in November this year the Taiwan Taoyuan International Airport Administration is scheduled to be converted into a state-run corporate body that will be in charge of the development and management of the whole airport and its surroundings, which will be tentatively known as the Taoyuan Airport Park.
The park will form the backbone of an ambitious Taoyuan Aerotropolis development program -- one of the 12 iTaiwan Projects outlined in President Ma Ying-jeou's campaign platform.
According to the official, the park will be spread over a total area of 2,528 hectares, which will include the airport's original 1,200 hectares and another 1,328 hectares to be acquired from private owners and naval authorities and will incorporate adjacent free trade zone.
The MOTC has commissioned a professional consulting team to come up with a comprehensive aviation park development blueprint that is expected to be ready in May for presentation to the Cabinet for approval.
The ministry will brief officials from the government's economic and financial departments and other relevant public agencies on a mid-term report on the blueprint later Monday.
(eTaiwannews) 11.1.10
Low-price era will come to an end in Taiwan
A tariff-free trade zone of six members of the 10-country Association of Southeast Asian Nations (ASEAN) plus China took effect on Jan. 1, 2010, and the remaining four ASEAN members will join the zone by 2015.
Because the ASEAN countries have a total population of 1.8 billion people, a combined gross domestic product of an estimated US$6 trillion, and trade volume of US$4.5 trillion, the forming of the free trade zone is expected to reshape the world trade landscape.
The new tariff-free trade zone has worried some in Southeast Asia, however, who have complained that low-priced products from China will impact the textile, garments, electronics and machinery sectors in Malaysia, Singapore, Indonesia, Thailand, and the Philippines.
Similar arguments have been made to suggest that Taiwanese industries will suffer from inflows of low-priced products from China once Taipei reaches a proposed economic cooperation framework agreement (ECFA) with Beijing.
While the dumping of low-priced products from China has seriously impacted manufacturing industries in many parts of the world, it is worth noting that China's economy is undergoing structural change.
Industries are restructuring, production costs are on the rise, and pressure is mounting on commodity prices and China's currency to surge higher.
As the era of low prices is at its end for China, Chinese products can no longer expect to compete in international markets simply based on a pricing advantage. The changing environment will force China to adjust its production and sales strategies.
From this perspective, people are advised to set aside their biases and not to block the progress of signing the proposed ECFA.
(eTaiwannews) 9.1.10
Taiwan's December exports grow 46.9 percent
Taiwan's exports amounted to US$20.03 billion in December 2009, the highest level in 14 months, according to statistics released by the Ministry of Finance (MOF) Thursday.
The amount marked a 46.9 percent increase year-on-year, which was also the steepest year-on-year rise since 1991, the ministry said in a statement.
Taiwan's exports began to post negative growth in September 2008 amid a global economic recession and did not end the contraction streak until November 2009.
On the import front, Taiwan posted an impressive 56.2 percent annual growth in December, with the amount hitting a 15-month high of US$18.38 billion.
The growth rate was the highest since 1991 and December also marked the second straight month in which imports registered a positive growth year-on-year.
As a result, Taiwan enjoyed a trade surplus of US$1.65 billion last December, according to MOF statistics.
(eTaiwannews) 7.1.10
CONTACTING THE CHAMBER
Mr. Sidney Wong, Executive Secretary, at Tel.: (852) 2546 9881 / Fax: (852) 3003 6506, e-mail: info@ncchk.org.hk. Address: c/o Royal Norwegian Consulate, Rooms 1510-12, West Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong.
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