The semi-official Taiwan External Trade Development Council (TAITRA), which celebrated its 40th anniversary yesterday, will hold a products fair in China a week later, it said.
It will be the first large-scale exhibition of its kind after the Economic Cooperation Framework Agreement (ECFA) between Taiwan and China was signed on Tuesday in Chongqing, China, TAITRA said.
The Taiwanese products fair, which will open in Tianjin on Thursday next week, was designed to help Taiwanese businesses that will benefit from the ECFA’s “early harvest list” to gain a bigger slice of China’s vast consumer market, TAITRA said.
Under the terms of the trade agreement, 539 Taiwanese items and 267 categories of Chinese goods will be eligible for zero-tariff treatment within two years after the implementation of the ECFA.
The Taiwan-made products range from shoes, bicycles and machine tools to sports products.
At the TAITRA fair, 791 Taiwanese companies, 200 of which manufacture goods on the early harvest list, will showcase their products at 1,900 booths in Hebei Province.
Now in its 40th year, TAITRA has offices in Guangzhou, Nanjing, Dalian, Wuhan, Beijing, Shanghai, Qingdao, Chengdu and Xiamen to help Taiwanese companies explore the Chinese market.
NOT ALL GOOD: Analysts warned that other data for last month might be less rosy due to the virus and analysts expect the PMI to contract again next month Chinese factory activity saw surprise growth last month as businesses went back to work following a lengthy shutdown, but analysts said that the economy faces a challenging recovery as external demand has been devastated by the COVID-19 pandemic, while the World Bank said that growth could screech to a halt. China is slowly returning to life after months of tough restrictions aimed at containing the virus, which put millions of people into virtual house arrest and brought economic activity to a near standstill. The strict measures saw a closely watched gauge of manufacturing plunge to its lowest level on record in February,
The output of the global smartphone industry this year is to contract by 7.8 percent on an annual basis as the COVID-19 pandemic ushers in a global recession, Taipei-based market researcher TrendForce Corp (集邦科技) said in a report on Monday. The global production of smartphones is expected to fall to 1.29 billion units, as the pandemic dampens demand for consumer electronics, leading to a decline in shipments across Europe and North America, TrendForce said. With consumers delaying smartphone purchases and thereby lengthening the device replacement cycle, overall prices would suffer a setback that is expected to negatively affect the profitability of smartphone
ELECTRONICS Lite-On delays sale of unit Lite-On Technology Corp (光寶科技) yesterday said it would postpone the sale of its solid-state drives (SSD) business to Kioxia Holdings Corp, formerly known as Toshiba Memory Holdings Corp, due to disruptions amid the COVID-19 pandemic. Last year, the Taiwan-based electronics components supplier struck the deal with the Japanese firm, agreeing to sell the unit for US$165 million. Citing unfinished integration work due to the pandemic, Lite-On has deferred today’s closing date until further notice, adding that the delay would not have a negative effect on the unit’s operations. AUTO PARTS Hiroca approves dividend Automotive interior parts supplier Hiroca
ALL ABOUT STRATEGY: The company is optimistic, saying that its gross margin should increase year-on-year, but it is scaling back on its plans to expand capacity Quang Viet Enterprise Co (QVE, 廣越), which makes down jackets and garments for sportswear and outdoor brands including Adidas AG, yesterday said that revenue might drop 5 to 10 percent annually this year as some customers trimmed orders in response to the COVID-19 pandemic. That would mark its first revenue decline since 2016. Quang Viet posted record-high revenue of NT$16.26 billion (US$537.45 million) last year, up 22 percent from 2018. Down jackets made up 40 percent of it revenue last year. North Face Inc and Patagonia Inc are this year likely to reduce orders by 20 to 30 percent from a