rongsheng import and export trading co ltd made in china

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rongsheng electrical manufacturing is a China Supplier, the following trade report data is derived from its trade data; the company"s import data up to 2022-10-25 total 29 transactions. Based on these trade data, we have aggregated the data in terms of trading partners, import and export ports, countries of supply, HS codes, contact details and other dimensions, which will help you to improve the efficiency of using your foreign trade data.

The graph above shows the market trend analysis of rongsheng electrical manufacturing for the past year, which can be used to understand the current supply cycle and business stability of the company from the trend of different dimensions such as quantity, weight, price and number of transactions.

rongsheng electrical manufacturing is A China Supplier. This Company"s Trade Report Mainly Contains Market Analysis, Contact, Trade Partners, Ports Statistics, And Trade Area Analysis. Official Reference Contact Is From China Original Bill Of Ladings, Including Email, Phone, Fax, Address, And Official Website. Till 2022-10-25，rongsheng electrical manufacturing. A Total Of 29 Transactions. Follow Up The Company, And Then Can Export This Company"s Contact And B/Ls. If There Is New Transactions, We Will Also Inform You By The System.

We Extract The Trade Partners From rongsheng electrical manufacturing"S 29 Transctions.These Companies Are Mainly Located In Other,France,Russia .You Can Screen Companies By Transactions, Trade Date, And Trading Area. While You Can Check Product Type, Quantity, Price, And Trade Frequency Of Each Transaction. This Data Will Help You Study Your Competitors, Maintain And Monitor Your Customers, And Develop Target Users. Through Summary Statistics Of Transaction，We Extract This Company"s Data Of Import-Export Ports And Trade Area, And Then You Can Check Related Data. It Can Calculate The Main Market And Occupation Of rongsheng electrical manufacturing. All Around The World. Help You Deeply Analyze The Target Market, And Scientifically Formulate Production And Marketing Strategies.

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SHANGHAI, Oct 30 (Reuters) - China Rongsheng, the country’s largest private shipbuilder, has secured a cash lifeline that could be worth up to HK$3.23 billion dollars and is looking to change its name to reflect its shift into oil exploration.

Shares in heavily indebted Rongsheng, which were suspended on Aug. 29 after the company said it was in the process of restructuring, surged almost 17 percent higher after trading resumed on Thursday. They reversed gains, and were down 3.7 pct by 0217 GMT.

Rongsheng said late on Wednesday it would issue warrants worth HK$510 million to a Cayman Islands-incorporated investment firm wholly owned by private equity investor Wang Ping, which would entitle subscribers to buy up to 1.7 billion new shares at HK$1.60 each.

This would raise about HK$3.23 billion for Rongsheng, it said. A warrant entitles the holder to buy stock from the issuer at a specific price within a time frame.

The price of the new shares is at a 17.65 percent premium to Rongsheng’s closing price of HK$1.36 per share on Aug. 28, when it last previously traded. It said the subscription shares represent 19.36 percent of the firm’s issued share capital.

Rongsheng, which builds Brazilian miner’s Vale mega-iron ore carriers, came close to insolvency last year before clinching an agreement with banks to extend its loans until end-2015.

As one of the Jiangsu region’s largest employers, the firm has received copious support from the government, which is currently helping Rongsheng with its restructuring.

Rongsheng also said it had signed a debt agreement with a syndicate of domestic banks in Anhui province that would extend its debt payments to the end of 2015.

The firm, which bought a 60 percent stake in an oil exploration company in Kyrgyzstan, also said it was proposing to change its name to China Huarong Energy Company to reflect its expansion into the energy service sector to counter the slump in the shipbuilding industry.

The company, which on Oct. 17 posted a net loss of 3.36 billion yuan ($549.6 million) for the first nine months of the year, said four out of five new oil wells in its Kyrgyzstan project have received satisfactory results in oil production.

Rongsheng has been one of the most prolific casualties of the global shipping slump. The industry is still trying to shake off a glut of ships ordered before the crisis which has sunk freight rates and caused many shipbuilding orders to be delayed or cancelled. ($1 = 7.7552 Hong Kong dollar) ($1 = 6.1136 Chinese yuan) (Reporting by Brenda Goh; Editing by Miral Fahmy)

HONG KONG, Nov 26 (Reuters) - China Rongsheng Heavy Industries Group, the country’s largest private shipbuilder, said its chairman had stepped down just three months after the company posted its sharpest fall in half-year net profit.

Zhang Zhirong quit to devote more time to his personal interests and will be replaced by the company’s chief executive officer, Chen Qiang, effective immediately, the company said on Monday in a statement to the Hong Kong stock exchange.

Listed in November 2010, Rongsheng was hit by an insider dealing scandal involving a firm owned by Zhang ahead of the $15.1 billion bid for Canadian oil firm Nexen Inc by China offshore oil and gas producer CNOOC.

Rongsheng said earlier this month that investment firm Well Advantage, controlled by Zhang, had agreed to pay $14 million as part of a settlement deal with the U.S. Securities and Exchange Commission (SEC).

The SEC had filed a complaint in a U.S. court in July against the company controlled by Zhang and other traders, accusing them of making more than $13 million from insider trading ahead of the bid.

In August, Rongsheng posted an 82 percent drop in half-year profit on a dearth of new orders and warned economic uncertainties would continue to weigh on the global shipping market.

Zhang Zhirong has also resigned as chairman of Glorious Property Holdings Ltd, the property developer said, as part of a series of executive changes at the company.

As part of the changes at China Rongsheng, the company said that Zhang De Huang was retiring and had resigned as an executive director and as vice chairman of the board.

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The PMI is usually used to measure the economic growth of various industries, and the line of expansion and contraction is 50%. Index higher than 50% represents the expansion of industry economy, lower than 50% means the decline of economy, index close to 40% indicates that it has the trend of economic depression, slightly greater than 50% means the economy is moving forward slowly, slightly less than 50% means the economy is moving toward recession slowly. The National Bureau of Statistics announced that the comprehensive PMI output index in February 2020 was 28.9%, 24.1% points lower than that in January.[

] Among them, the manufacturing PMI was 35.7%, 14.3% points lower than last month, and non‐manufacturing business activity index was 29.6%, 24.5% points lower than last month.

In terms of sectors, affected by the epidemic, the upstream and downstream of the manufacturing supply chain are faced with different degrees of shutdown and production halt. In addition, the transportation is blocked, which leads to the slowdown even stop of the overall production and supply activities. In February, the manufacturing production index was 27.8%, down 23.% points compared with January. What is more, the residential segregation led to a significant contraction of market demand. The manufacturing new orders index and new export orders index in February were 29.3% and 28.7% respectively, down 22.1% and 20% points from January respectively. On the whole, due to the short‐term impact of the epidemic, the manufacturing sector faced a contraction of both supply and demand in February, making the manufacturing PMI drop to 14.3%.

The non‐manufacturing sector seems to suffers more. Similarly, from the perspective of supply and demand, the business activity index of non‐manufacturing industry in February 2020 is 29.6%, down 24.5% points from February; the new order index in February is 26.5%, down 24.1% points; the new export order index is 26.8%, down 21.6% points. The significant decline in supply and demand led to the overall market downturn, and even led to a significant decline in employment and raw material related indexes. In the non‐manufacturing industry, the construction industry is mainly affected by the shortage of workers and the blocked transportation of raw materials, which results in the delay of operation; the service sector is seriously frustrated in the epidemic due to its natural personnel aggregation and contact attribute, with the business activity index in February being 30.1%, 23.0% points lower than last month.

According to the relevant service industry data released by the National Bureau of Statistics, the information and Internet related service industry and financial industry suffer less, and the decline of the relevant industry index is relatively small. The business activity index of financial industry is 50.1%, which is still strong in the expansion range. The business activity index of telecommunication and Internet software industry benefits from Internet “cloud office” and other conditions, which are higher than the business activity index of service industry by 13.2% and 11.3% points respectively. However, the wholesale and retail industry affected by the supply of manufacturing industry declined significantly, the accommodation and catering, tourism, and transportation industry are experienced the hardest hit. Taking the catering industry as an example, the catering revenue from January to February was 419.4 billion yuan, down 43.1% year on year.

Overall, the epidemic will hit China"s economy in the short term. In the first 2 months of this year, the total retail sales of social consumer goods reached only 5213 billion yuan, down 20.5% year on year in nominal terms (a 23.7% decrease in real terms after deducting price factors), and the investment in fixed assets (excluding rural households) fell 24.5% year on year. However, according to the information released by the National Bureau of Statistics on March 23, despite the impact of the epidemic on all walks of life, China"s economy is still on a long‐term growth path. On the one hand, due to the Spring Festival, weather and other reasons, the main indicators of production, supply and demand, import and export, investment, and so on from January to February account for a small proportion of the total amount of the whole year. On the other hand, because the total economic volume of the second half of the year usually accounts for 55%, the first half of the year accounts for 45%, and the first quarter only accounts for about 20%. So as long as the economic recovery accelerates after the second quarter, we will have the opportunity to make up for the economic losses during January and February.

Academician Zhong Nanshan predicted that the epidemic could be basically controlled in June. Therefore, we take June as a turning point to analyze the impact of the epidemic on China"s economy under three different scenarios: first, the epidemic is basically controlled at home and abroad in June, the supply chain is smooth, and the economy is fully recovered; the second is that the situation in China is basically controlled but the situation abroad remains uncontrolled; the third is that affected by imported cases from abroad, the epidemic situation in China appears a serious rebound phenomenon, shocking the whole economy again.

Under the optimistic scenario, the epidemic situation worldwide can be basically controlled in June, and the impact on national economic activities and international trade would basically last until the end of the second quarter. Since March, the epidemic has been gradually controlled in most parts of China, the number of new cases in many areas has been remaining zero for several consecutive days. On March 13, the joint defense and joint control mechanism of the State Council released data that the average operating rate of industrial enterprises above a certain scale except Hubei Province exceeded 96%, and the economy is gradually recovering.

Since the blockade of Wuhan on January 23, 2020, all regions in Hubei Province have successively closed their channels until the end of March. Wuhan remove its blockade in April 8, 2020. Considering the economy contribution of Wuhan to Hubei Province, we conservatively set the suspension time of economic activities of Hubei Province as 2 months, that is, in the first quarter, the GDP of Hubei Province only reached 1/3 of the GDP without epidemic. In 2019, the GDP of Hubei Province reached 4582.831 billion yuan, increasing 7.5%, of which 911.005 billion yuan was completed in the first quarter, with an increase of 8.1%, accounting for 19.88% of the annual output value. Assuming the same growth in 2020, Hubei"s GDP in the first quarter should be 984.786 billion yuan, and the annual output value should be about 4923.9 billion yuan. Affected by the epidemic, the output value of Hubei Province in the first quarter was about 328.2 billion yuan, down about 64% year on year.

Except for Hubei Province, the suspension time and degree of economic activities in all parts of the country in the first quarter are different. The economic slowdown in other parts of China during the epidemic period is not significant, this paper conservatively believes that the period of suspension of economic activities in the whole country (except for Hubei Province) caused by the epidemic is 15 days. In the first quarter of 2019, China"s GDP reached 21 806.28 billion yuan, with a growth rate of 7.9%. With the same growth rate, the GDP of the first quarter of 2020 should be 23 528.98 billion yuan, and that of all regions except Hubei Province should be 22 544.184 billion yuan. Affected by the 15‐day suspension of economic activity, we estimate the output value of the country (except Hubei province) in the first quarter to be 18 786.82 billion yuan. The GDP in the first quarter of 2020 is 19 115.02 billion yuan, down about 12.34% year on year. Therefore, the GDP loss in the first quarter during the epidemic period would be about 4413.95 billion yuan.

According to the National Bureau of statistics, the output value in the first quarter usually accounts for about 20% of the annual output, 45% in the first half and 55% in the second half.[

] As a result, the second quarter accounts for 25% of the national economy. We assume that China"s economy will gradually recover to normal level in the second quarter according to linear changes, and then the output value in the second quarter will be 24 084.37 billion yuan, down 0.7% year on year. Considering that China"s economic growth has always had the tradition of “ensuring 6,” the GDP in 2020 must reach more than 105 031.7 billion yuan, and the GDP in the third and fourth quarters must reach 61 832.3 billion yuan. In the third and fourth quarters of 2019, the output value is 53 022.84 billion yuan, the growth rate must reach 16.61% by 2020.

Generally, the first quarter is the peak consumption season. According to the estimation of the National Bureau of statistics, affected by the epidemic, the retail sales of social consumer goods decreased by more than 1.5 trillion yuan, the consumption of tourism, accommodation and other entertainment decreased by more than 1 trillion yuan, and the consumption demand suppressed by the epidemic was about 1.5 trillion yuan from January to February.[

] These demands will be released gradually after the epidemic, and even the consumption rebound phenomenon would appear. In addition, relatively speaking, the impact of domestic import and export in the first quarter was not significant. In the first 2 months of this year, the total import value and export value decreased by 4% and 17.2% respectively year on year. Import was unaffected while export was slightly affected, but compared with the slowdown and stagnation of the overall domestic economy, it can be ignored. In combination with various situations, the state needs to issue relevant policies to stabilize economic growth from the perspective of consumption and investment, support small and medium‐sized enterprises, encourage enterprise production and stimulate overall consumption.

In order to ensure that the commercial enterprises can make up for the economic losses caused by the epidemic as soon as possible and quickly recover to the daily production and operation level, we propose three levels of short‐term support policies. The first is the inclusive preferential policies for all kinds of enterprises under general impact. Major financial and banking institutions can appropriately increase the credit line of small and medium‐sized enterprises, reduce the corresponding loan interest rate, or provide financing guarantee, so as to ensure that enterprises whose capital chain is broken due to the epidemic can get timely financial support. The second level is the incentive policies for enterprises that actively support the people"s livelihood during the epidemic. The government may award certain material rewards and honors to enterprises that actively provide material support, avoid supply interruption and guarantee people"s life during the epidemic period. The third level is the subsidy policies for the severely damaged tourism, catering, retail, and other enterprises. On the basis of the inclusive policy, we should increase the subsidy for such major damaged enterprises and set up special subsidy funds. The payment of real estate tax, urban land usage tax and other taxes can be appropriately postponed or reduced. At the same time, the bank enterprise consultation meeting may be held to realize the full connection between enterprises and banks or financial institutions. Through completely communication, the matching funding institutions can fully understand enterprises’ losses and specific needs, so as to provide effective targeted assistance to realize accurate and efficient matching between enterprise demand and subsidy supply.

In addition, investment and consumption have always been the main driving force for China"s economic development. In terms of investment, first of all, we should focus on the smooth implementation of major projects to ensure the completion of the target tasks. Second, the government can attract social capital to participate in 5G base station, industrial Internet, artificial intelligence and other new infrastructure projects by expanding the scale of special debt, developing political credit finance, and other ways to ensure that infrastructure investment continues to play important role in stabilizing GDP growth. Stimulating residents to expand consumption is also a key way to enhance economy recovery. On the one hand, people"s constrained and repressed consumption desire has gradually rebounded with the improvement of the epidemic situation; on the other hand, some regional governments have taken measures such as issuing consumption coupons to further stimulate the consumer end, which is undoubtedly a “strong shot” in the arm for enterprises.

However, the design of consumption coupons should be more scientific and reasonable, for example, the distribution object should focus on the poor and the distribution field should focus on catering, tourism, entertainment, and other impacted major enterprises of the people"s livelihood, and the whole flow process of consumption coupons should be monitored and traced to ensure that consumption coupons can be spent in the short term, and the enterprises’ revenue in distress can be timely and fully stimulated. In terms of stimulating consumption, the government and enterprises can form a cooperative mechanism, in which enterprises give certain preferential treatment to consumers, and the government gives corresponding support to enterprises, so as to stimulate consumption in various aspects to drive economic operation.

In addition to the government"s relevant subsidy policies, the self‐help measures of enterprises cannot be ignored. The impact of the epidemic has once again stressed the great potential and bright prospects of the Internet economy. Live e‐commerce has gradually become an important channel of transaction and communication channel between merchants and consumers. The amount of live transactions of BESTORE bucked the trend and increased by two times during the epidemic period. Therefore, enterprises should give full play to their subjective initiative, actively explore the digital transformation path, combine online channels with offline entities, and further expand their sales revenue by taking advantage of the characteristics of online economy such as openness, sharing, and lower cost. In addition, upstream and downstream enterprises in the industrial chain should help each other. Leading enterprises can provide financial support to enterprises in trouble by providing advance payment, payment of payables and other forms to relieve their cash flow pressure, so as to get through the industrial chain as soon as possible and restore the supply system in the whole chain.

With the epidemic basically under control in late February and the resumption of work and production in many regions, most media believe that the outbreak will not have a huge impact on China"s economy and will not change the long‐term stable and good situation of the economy. But this is based on the premise that the economy recovers steadily in the second quarter and the overseas epidemic will not affect the domestic economy. At present, the global situation has exceeded expectations. As of April 12, there are more than 1.5 million confirmed cases overseas, including more than 460 000 confirmed cases in the United States, and more than 100 000 cases in Spain, Italy, France, and Germany. In order to prevent the epidemic spreading, more than 20 countries, such as India, Poland and Canada, have announced to close their borders. Italy, Belgium, and other countries have implemented national closure, which will seriously affect the import and export of trade goods around the world, thus hindering the smooth flow of global supply chain, thus impact the economies of all countries.

In the second scenario, although the epidemic situation in China has been under control in the second quarter, the spreading of foreign epidemic situation has seriously affected China"s import and export, and most of the domestic commodities have to be exported for domestic sale. In 2019, China"s total import and export of goods reached 31.6 trillion yuan, an increase of 3.4% year on year. According to the forecast by the Prediction Science Research Center of the Chinese Academy of Sciences on January 8, 2020, it is estimated that China"s GDP growth rate will be about 6.1% in 2020, among which consumption, investment, and net export will drive 4.4%, 1.4%, and 0.3% of GDP growth respectively, and the trade surplus is about $411.4 billion. According to the situation of previous years, there is little difference in the total value of import and export in each quarter. Suppose that the net export in the third quarter of 2020 accounts for 1/4 of the annual net export, that is, the GDP output value is about $102.85 billion.

According to statistics, affected by the domestic epidemic, the total value of China"s exports from January to February is $292.45 billion, down 17.2% year on year; the total value of imports is $299.54 billion, down 4% year on year.[

] If the global epidemic is not effectively controlled in June, it will be difficult for China"s import and export activities to be carried out smoothly under the situation of multi‐national border blockade. Home isolation will reduce the total social demand. In the case of factory shutdown and residents staying indoors, the social demand will only be reflected in some basic protective materials and living materials such as masks, disinfectants, toilet papers, etc. The shutdown of factories will further lead to the fracture of the industrial chain, and the production of various commodities will be delayed, so China"s import and export will continue to be affected in the third quarter. In the third quarter of 2019, China"s total export value is $654.46 billion, import value is $535.38, resulting in a trade surplus of $119.08 billion. If the decline is 17.2%, the net export value in the third quarter of 2020 is estimated to be $98.6 billion due to the impact of the overseas epidemic. Compared with the above $102.85 billion, the net export loss in this scenario is about $4.25 billion, once again raising the difficulty of “ensuring 6” of the China"s economy.

At present, there are many problems in the national foreign trade, such as the supply and marketing fracture, inventory accumulation, capital shortage, etc. The operation of foreign trade enterprises has great uncertainty. How to take precise and effective measures to reduce the impact of the global outbreak on the country"s import and export and improve the efficiency of the resumption of cross‐border transactions is of great significance to stabilize the country"s economic development.

We put forward the following foreign trade policy suggestions: first, in terms of financial and tax support, we should expand the scale of credit for foreign trade enterprises, launch special subsidy funds, appropriately cancel the guarantee and mortgage of foreign trade funds, strengthen tax relief, set up green channels for foreign trade to simplify business approval procedures, to solve the problem of capital shortage of foreign trade enterprises as soon as possible and effectively reduce the burden of enterprises. Second, in terms of market development, local governments, and foreign trade industry should actively cooperate to build a trade service platform and provide relevant trade demand, policy, and legal information around the world in a timely manner. Meanwhile, the government should encourage the full application of Internet of things, artificial intelligence, and other new technologies in business development, so as to enhance the competitiveness of China"s foreign trade enterprises on the international stage.

] While the domestic situation has stabilized, the number of confirmed cases abroad has increased sharply. As of April 7, the number of confirmed cases (number of confirmed cases = cumulative number of confirmed cases—cumulative number of cured cases—cumulative number of deaths) in China is 2229, and the number of confirmed cases in foreign countries exceeds 1 million (Figure 4). The proportion of foreign imported cases in the daily new cases in China has been increasing gradually (Figure 3). As of 24:00 on November 18, 2020, a total of 3735 cases had been imported from abroad.

In scenario 3, if the foreign epidemic situation does not get better in June, and China failed to take appropriate precautions such as proper control of entry and exit, the increasing number of imported cases is likely to lead to a large‐scale outbreak of the epidemic in relevant areas in China again. In addition, the global supply chain would continue to stagnate under the influence of the epidemic, which might cause great obstacles to the recovery and rebound of China"s economy in the second quarter. At that time, the medical teams that have been withdrawn in batches will fight again, and cities will be closed again in different degrees. Some economic activities will be suspended, and the scene in the first quarter will be repeated, and even worse. The most serious period after the outbreak of the epidemic is during the Spring Festival holiday. The central government mobilized the whole country to assist Hubei Province, and guaranteed the supply of various medical and living materials to the greatest extent. If the epidemic comes again, we will also take measures to put out the threat of the virus again. However, the battle in half a year will have an inestimable long tail effect on China"s economic growth in the second half of the year, and China"s GDP in 2020 may probably show a negative growth state.

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