Irkutsk
Ulan-Ude

Blagoveshchensk
Chita
Yakutsk

Birobidzhan
Vladivostok
Khabarovsk

Magadan
Yuzhno-Sakhalinsk

Anadyr
Petropavlovsk-
Kamchatsky
Moscow

This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.

China will remain one of the world's major procurement centers in the next 5-10 years

In the coming 5-10 years, China will remain one of the most important global purchasing centers. Such a conclusion is contained in a report presented recently at a forum in Wuhan (Hubei Province, Central China) by the China Logistics and Purchasing Association, reports Xinhua News Agency.

The authors of the document present the results of foreign studies, according to which China is the most competitive country in the manufacturing industry and will remain so in the next five years. The second and third places are occupied, respectively, by Germany and the USA, and Japan closes the top ten.

Up to 90, the percentages of chief executive officers of companies that participated in the surveys recognize China to be extremely competitive in labor cost and supply. For India, this figure is 87 percent, Brazil - 70 percent, and the United States - 39 percent.

China retains its advantages in cheap labor and raw materials, which, along with a well-established supply chain, convenient infrastructure and huge potential demand in the domestic market, allow the country to occupy a significant position in the global procurement system, experts say.

At the same time, the authors of the report draw attention to the increasingly manifested tendency of the transfer of production outside of China. But this, in their opinion, will force Chinese commodity producers to increase their attention to the innovative component of business.

In her speech, the chairman of the China Electronic Trade Participants Association, Qu Weizhi pointed to the fact that in 2013, the total amount of electronic commerce in China amounted to 15 trillion yuan (1 US dollar - 6,15 yuan), with an increase of 25,8 percent against the previous year's level, in that including through the Internet - 1,85 trillion (an increase of 85,12 percent).

Mobile devices, replacing computers, have become the main tools for electronic commerce, said Qu Weiichi. According to her information, the volume of mobile electronic commerce in China for 2013 year reached 96,5 billion yuan.

April 20: current information on coronavirus in the Far East
Digest of regional events and latest statistics