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with the Institute of World Economics & Politics under the Chinese Academy of Social Sciences (CASS). useful blog

China has became the No.1 target of trade protectionists and biggest casualty of trade frictions, said Zhong Shan, vice commerce minister, in a meeting earlier this month.

The outlook for exports in the near future is unclear given uncertain demand for Chinese products coupled with barriers going up, experts say.

China's State Council has approved the scrapping of export tax rebates on 406 products including some steel and non-ferrous metals, fertilizers, as well as some plastic useful blog , rubber and glass products, effective July 15, the Ministry of Finance (MOF) said.

The move was employed by the Chinese government most probably to reduce trade frictions, said Qi Xiangdong, deputy secretary general of China Iron & Steel Association.

The scrapping of export tax rebates domestically, along with the anti-dumping duties levied on Chinese Oil-Well Pipe by the United States, made the export of oil pipe products to the United States impossible, said Piao Longhua, Chairman and CEO of Wuxi-based WSP Holdings Limited, an oil pipe producer listed on New York Stock Exchange.

China's steel products exports in 2009 declined 58.5 percent year on year to 24.6 million tonnes, according to Chinese customs.

As China quickly changes its pattern of production, there is a risk of a gap between international and domestic demand, as yet domestic demand cannot replace the international market.

Furthermore, Chinese workers' wages going up raises the cost of production. So, China needs to do more to make its products stand out as the increased production cost will likely be passed onto consumers.

To achieve that goal, China's work force must become more efficient, innovative and skillful.

The predicament of rising trade barriers, rising wages and the possibility of a rising yuan means China must adapt quickly.
BEIJINGlouboutine " Kirchner said., March 24 -- The People's Bank of China (PBOC) useful blog , China's central bank, stepped up efforts this week to tighten excessive liquidity stemming from Chinese banks, as capital on the money market remains abundant throughout the country.
In its open market operations on Thursday, PBOC auctioned 47 billion yuan (7.16 billion U.S. dollars) of three-month bills and sold another 30 billion yuan of repurchase agreements.h Also on Tuesday this week, PBOC issued 50 billion yuan one-year bills and sold 28-day repurchase agreements worth 85 billion yuan.
Offsetting the 109 billion yuan of bills and repurchase agreements that matured, PBOC took 103 billion yuan of liquidity out of the money market this week useful blog , compared to the previo