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Cover Story

China's Top 200 Foreign Traders

The General Administration of Customs of the People's Republic of China has issued the 2007 List of China's Top 200importers and exporters.

China has maintained an annual growth rate of more than 20% in foreign trade for the past six years, and last year wasno exception as the total volume rose to a record USD 2.1738 trillion. Exports by the top 200 exporters in 2007 grew by animpressive 28.2% over 2006 to a total of USD 328.55 billion, which accounted for 27% of the value of China's total exportsfor the year. Similarly, imports by the top 200 importers rose by 25% to a total of USD 370.12 billion, which was 38.7% of thevalue of all the country's imports in 2007.

Foreign companies account for 146 of the top 200 exporters and for 76.3% of the USD 250.6 billion export volume ofthe top 200. The 45 state-owned companies on the list exported a total of USD 66.33 billion, constituting 20.2% of the wholevolume. Six collective enterprises and four privately owned firms are also included, composing export values of USD 8.33billion and USD 3.27 billion, respectively. Huawei Technologies Co., Ltd., one of China's best private IT corporations, ranksat number 10 on the list, up from 19 in 2006, with an incredible annual growth rate of 57.9%. Among the top 200 importers,there are 124 foreign finns, 63 state-owned enterprises, 6 collective firms, and 7 private companies.Paving Russia's Roads, Driving Your Way

Vladimir Putin, the outgoing president of Russia, has said "a modem transport infrastructure is the real road to Russia's future."Accordingly, the Kremlin is now striving to implement an ambitious program to improve its highways, railroads, and airports. Theplan is to construct 39,000 miles of new roads and 5,300 miles of railways by 2015, and an investment ofUSD 1 trillion is expectedto be raised over these l0 years, with 80% of it coming from private sources.This enormous building campaign will afford a plethora of investment opportunities. Some foreign and domestic companies havebeen invited to bid on the building projects, and the winners will operate the facilities they build ih exchange for toll revenues.Although risks exist, plenty of investors are likely to be enticed by the potentially immense profits.New Inspection Order Issued

The Administrative Measures for the Quantity &Weight Inspection and Appraisal of Import and ExportCommodities became effective on October 1, 2007. Theorder defined the scope of the implementation of the quantityand weight inspection and appraisal. Besides the obligationsof inspection agencies, domestic consigners, consignees,and their agents, those of related institutions and individualswere also included. Moreover, the locations, declarations,and styles for declaring the quantity and weight inspection ofbulk import commodities and commodities in packages wereclarified. The links between quantity and weight inspections,and the specific method to handle such connections, werealso specified. Furthermore, the relations between inspectionagencies of imported and exported commodities and otherinspection institutions were made clear, and a new chapternamed Legal Liability was added. Any party found to be inviolation of relevant items will be punished.