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Alibaba (HKSE 1688) will be going to hold its Open Sesame event in Istanbul, Turkey on Decemeber 16th.

Date: Tuesday, 16 December 2008
Time: 3:00pm – 6:00pm (Registration starts at 2:30pm)
Price: FREE with event registration
Venue: Grand Ballroom, The Four Seasons at Sultanahmet
Location: Istanbul, Turkey

For those who are interested in the event, please sign up here.

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Boom and Bust cycles are inherent to our global economy. Amid the financial meltdown, Chinese Premier Wen Jiabao took a swiftly move to substain economic growth by excerising a “proactive fiscal policy” and “moderately-loosened monetary policy”.

It is a quick shift from the “prudent fiscal policy ” and “tightened monetary policy” outlined by the mainland government at the end of last year.

The new set of policy apparently is good news to SMEs facing the menace of the financial tsunami. Premier Wen reckoned that loan quota controls imposed by the central bank to commercial lenders would be scrapped to stimulate lending to support key government projects, agriculture and SMEs.

Premier Wen highlighted the fact that a RMB4 trillion worth of economic plan was on its way to boost domestic demand up to 2010.

Also on today’s front-page story is Hong Kong Trade Development Council would spend HK$120 million from its reserves to attract overseas buyers and subsidize local companies to exhibit their goods and services.

The package is largely targeted to 20,000 Hong Kong-based SME companies whose clientes coming from Russia, Eastern Europe, the Middle East, North Africa, Southeast Asia and the mainland.

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The latest release of PPI and CPI gave the China government more leeway to boost the economy, the National Bureau of Statistics said on Tuesday. Aliuser reckons this as a good sign.

The producer price index (PPI) grew 6.6 percent in October – the slowest pace in eight months, compared with 4.6 percent in September.

China’s consumer price index (CPI), the main barometer of inflation, rose 4 percent in October from a year earlier, compared with 8.3 percent in the nine months through September. 

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Morgan Stanely economist Wang Qing and JP Morgan chief economist Frank Gong both expected China exports in October could be slipped by as much as 20 percent despite a resilient export growth in September.

The warning came before China releases its macro date for October in the upcoming week. They said industrial output has slowed faster than exports, indicating that China economy was shrinking faster than expected.

Good news is inflation rate in China is easing continuously, according to Mr Wang. He noted that producer inflation (PPI)  and consumer inflation (CPI) were expected to stay around 7.9 percent and 4.3 percent, respectively. It provide a favorable factor for the China government to adjust its monetary policy.

Aliuser learnt that Alibaba ( HKSE 1688) has earmarked US 30 million on global promotion in an effort to help SMEs to expand its oversea market following a task force was formed in October.

 

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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.


Speaking at the e-Business Champion Awards Reception in Chicago, Arthur Chang of Alibaba told AuctionBytes that the Export-to-China would be beneficial to many international traders who are not very familiar with China market.

Export to China from Alibaba

International suppliers can take advantage of the program by building their storefronts in Alibaba.com. The storefronts would then be translated from English to Chinese, being accessible to most of its 25 million Chinese members.

Mr Chang, Vice President of Global Sales, quoted the latest import and export trading figures in China, saying that the business from “export to China” has jumped 4 times in the last five years. The findings expected another continued surge in the next 10 years.

He contemplated that the trend will go on because:

  • There is a strong and staggering demand for consumers’ items from the growing middle and upper classes in China
  • In the meantime, Chinese manufacturers, who aspired to stay competitive in face of India and Vietnam potential challenges, have imported components and parts with higher quality from other countries.

Mr Chang also said North America was the second largest user base of Alibaba  international site, their members could make use of the trading platform to do sourcing, reaching out to 5 million international users coming from all over 200 countries and regions.

“One of our suppliers can cut 50% of their time in sourcing for the right trade partner,” he concluded.

 Arthur Chang from Alibaba

The program is in line with what we have discussed – “Alibaba set her sight to  UK – “Export to China, Export to the World” earlier  in March 

 

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