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Hundreds of thousands suppliers and buyers are expected to turn out in the the 104th session of the China Import & Export Fair (Canton Fair). Alibaba debuts the “104th Canton Fair trade show” information today with highlight on new featured products.

 

104th Canton Fair

Alibaba new featured products in the 104th Canton Fair

 

Despite the outbreak of economic turmoil in the last couple of weeks and the wear-off of the hype and joyous feelings from the Olympics Game, international buyers and suppliers explored the opportunities to do business again.

The 104th session of the Canton Fair has split two phases into three. It is now held from October 15 to November 6, 2008.

  • Phase1: October 15th – 19th, 2008
  • Phase2: October 24th – 28th, 2008
  • Phase3: November 2nd – 6th, 2008

Venue: China Import and Export Fair Complex (No. 380, Yuejiang Zhong Road, Guangzhou, China)

 

104th-cantonfair-shopping
104th-canton fair-shopping

 

Another change to be introduced in this session is the use of a new IC card entry badge system for buyers and exhibitors. Previously used E-Pass cards will be replaced by the new IC cards which will be available on site or mailed in advance by Canton Fair organizers.

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Amid the weakening global economy, which will ostensibly slow down China’s export, the People’s Bank of China last week cut the cost of bank loans and reduced the reserve requirement ratio for smaller financial institutions.

In what was seen as a move to help SMEs hit hard by a tighter credit crunch, the central bank announced a 27-basis point cut to the commercial banks’ benchmark lending rate and 100 basis points for the reserve ratio for small and medium financial institutions.

The lowered reserve ratio will free up more funds for small bankers, which will increase lending to SMEs.

China’s exportsincreased 22.4 percent year-on-year in the first eight months of 2008, but down from 27.7 percent in the same period last year. It is believed that worsening US financial market turmoil and rising domestic production costs would have negative impacts on Asia exports and financial markets.

Jing Ulrich, chairwoman of China equities at JP Morgan Securities expected that China would open its purse strings by unleashing relief programs for the export sector, reconstruction spending and high levels of infrastructure investment.

 

People's Bank of China

The People's Bank of China

 Photo courtesy of http://www.newsgd.com

 

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Joseph Tsai, Chief Financial Officer of Alibaba Group told Aliuser that his favorite colour was blue. Yet his heart was orange– Alibaba’s corporate color is “Orange” indeed!!

The comments came after Aliuser got a chance to speak to Mr Tsai before the Mid-Autumn Festival.

Mr Tsai also delved the group’s future strategy, focusing more on infrastructure and technology development. He noted that Alibaba group was rarely seen as a technology-related company now, but it was the corporate vision to get a top ranking in this respect.

During the casual meeting, Mr Tsai explained that the merger of Taobao.com and Alimama.com would be ‘win-win’ for both parties.  As Alimama’s online advertising model has lots of synergy with Taobao’s users and database profile, it could help Taobao’s shop owners to post and manage their advertising online.

In response to the latest decision of blocking search engine Baidu indexing Taobao shops and products in China, Mr Tsai said Taobao has already established a reputation for C2C eCommerce, he expected users would come to Taobao.com directly but not through Baidu.

Things are getting more interesting as Chinese portal Sohu.com, 51.com and Xiaonei have reportedly blocked Baidu from conducting searches of their sites. Anita Davis has more to tell in her report.

Preceding experiences have told us that the relationship between eBay and Google has turned sour as they collided to each other in business development. Would history be repeated itself in the East?

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 With the Consumer prices index (CPI) going down to 4.9 percent in August, the China government can do more to stimulate economic growth as inflation is more or less under control.

According to new agency Xinhua reported on Wednesday, China consumer prices increased by an annual 4.9 percent in August, marking the fourth straight month of decline but the smallest increase in 14 months. 

The reading fell short of analyst expectation as they called for an increase of 5.2 percent.

With shrinking exports and fixed investment possibly leading to economic growth of less than 10 percent this year and 9 percent in 2009. Analysts expected Beijing may relax its lending policy, cut taxes and curb energy price rises to boost the economy, which will help China SME exporters substain their business in the near future.

 

China economy
China economy
 
Photo courtesy of Bloomberg.com/apps/news?pid=20601089&refer=china&sid=adjS_kGupsn0
     

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With joyous Mid-Autumn Festival approaching this weekend, Alibaba.com hosts a “Mid-Autumn Festival Mooncake treasure hunt” in her forum section.

Mid-Autumn Festival in China is one of the major events to celebrate fruit, vegetables and grain harvest. Families and friends will gather together to take part in the custom of worshipping the full moon – a sign of reunion. Moon Cake, which is traditionally stuffed with mashed red beans, lotus-seed paste, cooked egg yolk and perhaps Chinese dates,  are piled up on table to symbolize the thirteen moons of a complete year – 12 moons plus intercalary moon.

The Mooncake treasure hunt will give away Limited Edition Alibaba.com USB Flash Drive to winners. Take a break and find out the details in the Alibaba Mooncake treasure hunt event here.

Alibaba mooncake treasure hunt
Alibaba mooncake treasure hunt

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