International Business News
Economy
China's economy continues to accelerate at a blistering pace, growing 11.1 percent in the first quarter of 2007 over last year, according to data from the National Bureau of Statistics.  This surge in growth is almost certain to force Beijing to step up efforts to cool the sizzling economy.  The government has already raised interest rates 3 times in efforts to control this rapid growth.  Pressure is also mounting on officials to allow the value of the currency to appreciate more quickly.

Import & Export:
The Chinese Import and Export Commodities Fair is currently under way and will run until April 30th.  This Guangdong fair is expected to attract more than 300 enterprises from 37 countries and various regions.  The big players include the United States, Hong Kong, Taiwan, South Korea and Malaysia.

Fueled by soaring exports and huge investments in infrastructure, factories and energy supplies, China could soon overtake Germany to become the world's third-largest economy, behind those of the United States and Japan.  While most economists called the quarterly growth figures surprisingly strong, they said they were distorted somewhat by a huge injection of government money into the economy, which encouraged lending, as well as by exporters' seeking to avoid foreign tariffs that may be imposed later in the year.

Raw Materials:
Non-ferrous metal production in China is expected to grow by 15 percent this year, led by aluminum and copper, boosted by mounting demand.  The combined production of 10 main metals: aluminum, copper, lead, zinc, nickel, stannum, magnesium, titanium, antimony, and mercury will reach 22 million tons in 2007, up from 19.17 million tons last year, said Kang Yi, president of the China Non-ferrous Metal Industry Association.

Logistics:
The international trade fair for transport, logistics and telematics in Asia will take place at the Shanghai New International Expo Center (SNIEC) from June 17 to June 19.

United Parcel Service, the world's largest package-delivery company, will spend an initial $20 million to build a new hub in Shanghai to raise the level of its air deliveries in China.
DHL dedicated flight connecting Qingdao with Central Asia Hub in Hong Kong

Qingdao Import News Highlights:
The Chinese market currently has a strong demand for energy-saving and environmentally friendly technologies, products and equipment.  Big breakthroughs in this sector may be difficult to achieve given that some of these technologies are subject to export control policies.