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China is known around the world for its electronic goods that are available at quite a reasonable price. Technological innovations round the globe have its share of impact on Chinese economy as well. In the growing trend of globalization countries around the world are in a constant competition with each other, China is among the biggest exporters of electronic goods. The goods among the ones exported by China are,
- CPUs of computer,
- Servers
- Storage Devices
- Computer Monitors
- PC Note Books
- Networking Equipments
- Scanners and Printers
- Computer Input Devices
China’s biggest asset is its export business of information and electronic. In 2004 alone the whole amount of business for Chinese information and electronic goods were of US $ 208.7 billion, while the amount of import business of China was of US $ 181.6 billion the same year. Both the import and the export business in this sector is growing by leaps and bounds over last few years. Computer Products Export in China comprises of a large part of China’s business profit. It is said that 3C’s, the communication products, computer parts and consumer electronic goods are the major elements of Computer Products Export in China. When the growth in the revenue earned by China through the sale of electronic components in 2004 was 28.3%, the growth in the revenue earned by the sale of computer and electronic goods grew up to 43.2%. The growth in the revenue earned by China through the business of consumer electronic goods is 24%.
Chinese economy and law goes hand in hand with the WTO rules of world trade. WTO’s recent revised version of different regulations for allowing better kind of protection against the IPR violations can be expected to begin the show of results for the next few long years. At present China is running a campaign concentrating on almost 15 autonomous regions, provinces and the municipalities, consisting of cities like, Beijing and Shanghai. This is maintained by China to protect the IPR rights. The campaign stresses on the protection of copyrights, trademarks and patents, and also takes care of covering all the imported and exported products, wholesale markets, exhibitions, OEM manufacturing, duplication and printing, etc.
The Chinese government is considering a proposal put in front of the Chinese government in the third part of 2004. This effort was taken to rationalize the corporate income taxes of the country. The modern rate of the single corporate tax could be effective since 2006. The government has a plan in the pipeline for running a pilot program with reformation in the VAT reforms in three of the capital intensive provinces with heavy industry. The new format of the value-added tax is actually a consumption based format that allows deduction in tax on the fixed outsourced assets and also depreciation. According to the modern regulations tax exemption is allowed on fixed assets of different foreign investment projects. The local companies of China are not covered by such provisions.
In order to gain more information on export business of China and trade in China, visit the other pages on the site, Chinaexporthub.com.
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