Fiducia Management Consultants, Global Sources, AsiaBridge and Asia Quality Focus all released some fascinating content during Trade Show Season. Fiducia discussed the RMB transitioning into a Global Currency. GS provided insight on two completely different topics within sourcing. AsiaBridge blogged about WFOE [Wholly Foreign Owned Enterprises]. Lastly AQF gave us an hypothetical specific checklist inspectors typically use while conducting inspections. Read on to find out more.
Fiducia Management Consultants reported to its readers, China’s latest move, the AUD can now be ‘fully converted’ to RMB. That’s big news in the sourcing industry because it can easily take away some of the costs when converting currencies. At the moment only three currencies are fully convertible to RMB. Check out the article for more on currencies and the evolution of the RMB.
Dr. Mark McKay described situations relevant to now and thirty years ago. He put into perspective American factories leaving American soil for China thirty years ago. Particularly this is a choice Chinese factories are now facing. Dr. McKay offers three options Chinese factories have. Read on for an interesting look at the current fork in the road facing Chinese manufacturing.
GS posted an article discussing the possibility of China manipulating actual number of exports. GS quoted a Chinese business newspaper saying, “some cities are taking unconventional measures to boost trade data under pressure from higher branches of the government.” Check out the article for more of the facts.
This article by the AQF Operations team is self-explanatory. Inspections are extremely specific. Checklists are made for each individual item in question. Check out AQF’s article for a detailed checklist.
Lawyer Sophie Mao explains to readers how WFOE’s have become more preferable to EJV [Equity Joint Ventures]. Mao gives us a clear understanding about what’s expected when setting up a WFOE. Keep in mind WFOE’s are saved for people who want to go all in, China direct. Check out the article for a better understanding of WFOEs.
A big thank to our sponsors and all the informative content they consistently provide us with. Looking forward to wrapping up Trade Show Season and the beginning of May’s flowers.