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Three days after China Premier Wen Jiabao visiting small and medium factories in Guangdong, the central government will earmark 40 billion (HK$45.7 billion) as a relief plan to help ailing factories in the Pearl River Delta.

Provinical Communist Party Secretary Wang Yang said 35,000 factories in the Delta Region have ceased their operations or moved away in the last five months.  Yet, 40,000 new business spurred up at the same period of time.

The news came on heels of our last post of “China Exporters say Don’t Flinch!”, it demonstrates the fact that the central government is fully aware of the situation, raising tax rebates on exports of textile products and garments and  setting up a pool of fund to the needy industry.

Analysts added that the province is studying ways to control price rises and will announce new measures next month.

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Please send your donations for Sichuan Earthquake Disaster direct to the Red Cross Society or see more details in our previous post.


Seeking for a right supplier to find the right product is the first and foremost issue to buyers. We also got the feedback that finding a reliable supplier to work with, reducing all the hassles in the process of negotiating and contracting is another major concern.

To most suppliers, gaining trust from their clients is the starting point to acquire business.

In an effort to to making suppliers’ profile more transparent to buyers. Alibaba suggested three third-party service providers to offer authenication and verification inspection to its supplier members.

They are

 

Alibaba services providers for authenications and vertifications

 

 

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Ants wqrldphoto courtesty of DreamWorks SKG

Jack Ma, Chairman and Non-Executive Director of Alibaba.com made a forecast that the world economy situation would be as bleak as that in 2001, 2002 where the dot-com bubble have taken place. He warned that the “winter” would probably last as long as three years.

Yet, He still pledged his support to China exporters, manufacturers and suppliers in the wake of gloomy economic sentiment. He suggested that SME in China should behave and work like “ants” which managed to survive much longer than such mammals as lions and elephants through all these years.

“Our Winport project launched two days ago will charge as little fee as we can, we have been thinking to offer the services for free.” Mr Ma said in a recent interview with China Alibaba.com ( The interview was done in Mandarin though).

Alibaba raise investors’ eyebrows by reporting a strong net profit of 300.7 million yuan for the first quarter of 2008 on May 5th, a leap of 111. 7 percent year-on-year and 162 percent quarter-on-quarter, excluding the one-off interest income received from over-subscriptions during IPO in the fourth quarter of 2007. Find out the Full report here

Investors’ sentiments undoubtedly are still haunted by the painstaking experiences earned from the previous internet bubble burst, coupled with the emerging economic dark cloud in the United States, rising RMS value, escalating energy and food prices. Alibaba (1688.HK) closed at HK$14.14 per share last Friday.

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