Faster, Better, More
In the latest of the sustained upgrading of China's transport infrastructure, the People's Daily on Saturday reported the commencement of construction of two new railway lines to link Fujian on the southeastern coast with inland areas. One of the lines is to start in Xiamen, a port city facing Taiwain, and will continue for over 500km along the coast to Shenzhen. Upon completion in 2011, travel time between the two cities will require less than three hours (compared to the current eleven hours). The second project will be a 600km railway linking Nanchang in Jiangxi with Fujian province.
With plans 'on track' to drastically reduce travel times, the China Sourcing Report today reported that over 80 million digital still cameras will be produced in China and Taiwan this year, up 27% year-on-year. Greater China accounted for more than 73% of global shipments of this product in 2006, and is forecasted to take an even greater share in 2007. Chinese manufacturers are aware of the highly competitive nature of the global digital still camera market, and hence are increasingly targeting mid- to higher-end markets with advanced products and competitive pricing, ultimately leaving a more robust manufacturing base. In addition, more than 65% of Greater China's manufacturers are preparing for an increase in output in the next 12 months by expanding production capacity.
And with Chinese Vice-Premier Wu Yi assuring American companies in a keynote address in Beijing on Friday that China's door will remain open 'forever' and the country receptive to foreign investment, current trends are not likely to change direction soon. More than 70% of all U.S. firms investing in China made a profit in 2006, Wu said, and she assured her audience that China's position to value foreign capital will not be changed.
All just more sings that the future of sourcing in and from China will likely be faster, better and more....
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