Chinese companies now flock to energy industry meeting

Chinese companies are making a much stronger presence because the industry experiences a downturn. Though the 2017 Offshore Technology Conference (OTC) is less crowded and the displays smaller and less elaborate with crude oil hovering around $50 per barrel.

Image Credit: Internet

"I noticed that the China Pavilion area is much larger, and the number of Chinese companies has increased. I estimate that there are probably 200 to 300 Chinese companies at OTC this year," said Torry Wang, president of Houston-based Amphibian Petroleum Technologies.

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OTC, which runs from Monday through Friday, is the largest event in the world for the oil and gas industry with some 2,300 exhibitors representing more than 100 countries.

The depressed oil price gave Chinese companies more opportunities to come to OTC, which has a long waiting list for exhibitors, explained Wang. His company has been taking part in OTC for seven years.

"A lot of oil and gas companies decided not to show up due to the low oil price, thus freeing up spaces for Chinese companies. Some of them had tried for years to come to this event but couldn't get in until this year," said Wang.

Wang's assessment was partially echoed by Yi Baishui, deputy general manager of CMEC International Exhibition Co. His company has been organizing Chinese companies to participate in OTC since 2008.

"This year we brought more than 50 people from over 20 Chinese companies, much more than 30 some people last year," Yi said.

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"Although there are some policy uncertainties with the Trump administration when it comes to China-US relations, I am very glad to see more business exchanges going on between the US and China," said Zhao Zhenge, general representative of China Council for the Promotion of International Trade (CCPIT). "I am certain the larger presence of Chinese companies at OTC will bring more bilateral business in this industry."

Zhao also will meet with local American and Chinese business leaders to broaden bilateral business cooperation.

Not only are Chinese companies more prominent at OTC, but more of them are selling products to the US oil and gas industry, according to Tim Gonzales, acting director of global business at the American Petroleum Institute (API).

API has led the development of petroleum and petrochemical equipment and operating standards for more than 80 years. It certifies all products and services sold within the industry.

Gonzales said that the number of API-certified Chinese companies has surpassed that of American companies since last year.

"Now we certify more than 3,000 companies from China while we certify just about 3,000 companies in the US. It's very interesting," said Gonzales.

Gonzales said that API, after working in China to bring US standards to Chinese manufacturers, is now interested in working with Chinese organizations and companies to develop industry standards that China requires.

"So that when Chinese companies buy equipment such as pipes from the US, it will be the same as in China. We want to make the standard globally acceptable," said Gonzales, who discussed details with Zhao on how to work together to develop such standard for China.

"This is very encouraging news. It means China economy has become a force to be reckoned with. A recognized standard for China will certainly further benefit business exchanges on both sides," Zhao said.

This year, China's major players are at OTC such as CNPC, Sinopec and CNOOC.

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Trump warms up the US-China tie in first 100 days of presidency

China-US relations is always a matter of great concern to the whole world. Recently, there is new partnerships between two countries.

President Donald Trump's nominee for ambassador to China promised on Tuesday to take a firm line with Beijing on issues from North Korea to trade disputes and human rights, and seemed poised for an easy confirmation by the U.S. Senate.

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"As Governor of Iowa, I saw first-hand the importance of a positive and healthy trade relationship between our two countries," Branstad said here at his confirmation hearing.

Terry Branstad, the nominee for US ambassador to China, said he hopes to use his unique relationships with Chinese President Xi Jinping and US President Donald Trump to positively influence US-China relations.

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"As Governor of Iowa, I saw first-hand the importance of a positive and healthy trade relationship between our two countries," Branstad said here at his confirmation hearing.

Branstad, who is serving his sixth term as Iowa governor and is the longest-serving governor in US history, described his relationship with Xi which goes back to 1985. Branstad was then serving his first term and met Xi, who was leading an agriculture delegation from Hebei province, Iowa’s sister province.

“A connection was made and a friendship was founded. To this day, President Xi still speaks fondly of Iowa and the hospitality he enjoyed there so many years ago,” said Branstad. When Xi visited the US in February of 2012 as China’s vice-president, he went to Iowa to visit the people who hosted him in 1985, people he referred to as “old friends”, including Branstad.

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As the governor of a U.S. state whose economy is mainly driven by agriculture industry, Branstad noted that almost one out of every two rows of Iowa soybeans is sent to China, as well as 33.5 million U.S. dollars in pork in 2016.

Senator Bob Corker, the panel's Republican chairman, blasted China's actions in the South China Sea, and "cyber theft of intellectual property." He warned against focusing on short-term goals at the expense of long-term US interests.

"There's no country in the world that we have so many issues with," Corker said.

Branstad took a hard line on the South China Sea, saying, "China cannot be allowed to use its artificial islands to coerce its neighbors or limit freedom of navigation or overflight."

Trump has taken an "America First" approach to trade. Branstad also stressed the importance of opening markets to agricultural goods, protecting intellectual property and addressing China's "unfair and illegal" sales of low-priced steel.

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Trump's let China open its market to American beef as the start of trade enforcement

China has agreed once more to allow U.S. beef exports to that country, ending a ban in effect since 2003. The deal was struck over the weekend between President Donald Trump and China President Xi Jinping, according to the Financial Times. 

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After meeting with Chinese officials at Mar-a-lago last week, Treasury Secretary Steven Mnuchin appeared optimistic that a number of quick deals could be reached.

“We focused specifically on a more balanced economic relationship, specifically on trade,” he told reporters after the meeting. “And we focused on the desire to have very specific action items, both in the short term for the next time we get together, as well as what the goals are over the year.”

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As a result, China’s citizens have not had access to wholesome beef products that U.S. citizens enjoy every day. A three-ounce beef patty has about 155 calories and provides 25 grams of protein to help a person get their daily work completed. Beef also provides important nutrients including zinc, vitamins B12 and B5, iron and selenium, and eating a protein product like beef helps curb cravings.

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Now is a good time to encourage the reopening of U.S. beef imports to the China.

There is no doubt the United States produces some of the highest quality steaks in the world which commands a premium for those products. However, the domestic market does not produce enough lean beef from cull cows and bulls to mix with fatty trim from fed cattle to fully supply the domestic ground beef market.

  

Cattle producers and consumers have many questions regarding beef imports and exports, and hopefully some of those questions will be answered here.

If you are importing product from China (or any other country), now is the time to double check what you are doing with your trade and customs programs and to make darn sure that you are not bringing in product that will cost you a lot of money or maybe even jail time. There is a new sheriff in town and he does not like imports.

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See How China's New Business Rules Offer You Indeed Opportunities

China’s President Xi attended the World Economic Forum in Davos this Tuesday. And he is the first Chinese president to join this forum.

President Xi Jinping takes the podium on the first day of the World Economic Forum.

Davos, Switzerland, Jan 17，2017

 [Photo/Agencies]

As mentioned in Business Insider:

Three days before Donald Trump is set to be inaugurated as the 45th US president, a world power with which he has taken an at-times adversarial approach has become the unlikely leader at the world's most visible gathering of economic elites.

During his address to the annual meeting of political and business leaders, Xi said openness is the primary solution to the global economic slowdown.

    

"No one will emerge as a winner in a trade war," he said.

Xi established himself as an unlikely defender of the trade-based global order that Trump and others have dismissed on the way to electoral victories. He addressed a crowd full of business leaders and politicians, but his message was squarely aimed at one person: Trump, who on the campaign trail excoriated China's trade policies and threatened to slap a tariff as high as 45% on Chinese imports.

During his campaign, Trump promised to raise tariffs on Chinese goods and declare Beijing guilty of keeping its currency artificially low. That would be a first step toward imposing sanctions. But in fact, for the past couple of years China has been intervening in markets to prop up its currency, not push it lower.

In an unusual turn of events, Xi's speech drew a sharp rebuke to an incoming American administration that has advocated protectionist trade policies and discussed withdrawing from global climate-change agreements. "There's no point in blaming economic globalization for the world's problems," Xi said.

He called for a "new growth model" that takes into account climate change, aging populations and increased automation.

Xi hit hard on the metaphor of the world economy as an "ocean," saying countries "must have courage to swim in the global market."

"We should not develop a habit of retreating to the harbor whenever encountering the storm, for this will never get us to the other shore of the ocean," he said.

Some of the elites listening in Davos, Switzerland, hailed a statesmanlike, even Barack Obama-like speech from Xi as the first Chinese head of state to attend the World Economic Forum — even if it depicted a Chinese commitment to open markets that falls short of reality.

"Whether you like it or not, the global economy is the big ocean you can't escape from," Xi said in delivering the forum's opening plenary speech, introduced by the forum's founder and chair, Klaus Schwab.

Xi and first lady Peng Liyuan attend the annual meeting of the World Economic Forum.

Davos , Tuesday

[Photo/Agencies]

Xi's high-profile speech also came at a time of burgeoning tensions between China and the new US government. Trump infuriated Chinese leaders last month when he spoke with Taiwan's leader, and he has continued to leave open the US's "One China" policy, which states that Taiwan is part of a single China.

Two leading state-run newspapers threatened earlier this week that China would "take off the gloves" if Trump continued on his current path with respect to Taiwan, calling the One China policy non-negotiable.

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