September 13, the lecture, Market Purchase Trading Mode was successfully held in HACOS meeting room by the Agricultural Bank of China(ABC) and HACOS jointly, and it also won great support from Arab Chamber of Commerce.

Staff of the ABC (second from the left), chairman of the Arab Chamber of Commerce(second from the right) and the CEO of HACOS(first from the right)

The lecture, given by HACOS’s CEO, Harvey, and participated by 20 foreign entrepreneurs that specialize in foreign trading business, was covered in a warm and friendly atmosphere. Besides, Harvey’s clear logic and foreign trade knowledge shared during the activity will serve a great guiding significance for foreign trade enterprise. 

Harvey Chan

● Vice-president of Professional Committee 

● For Foreign Business Consultancy of Guangzhou

● CEO of HACOS Business Services

● XIAMEN UNIVERSITY, MASTER DEGREE,EMBA 

● More-than- 8-year experience in foreign business services.

● Has provided comprehensive business solution for over  100 foreign investment enterprises and trade enterprises.

# Here are some information from the activity which may be useful for those who missed the activity

What is Market Purchase Trading mode?

In terms of the export trade problems for foreign entrepreneurs, Harvey introduced three common market purchase trading modes in detail, general trading, tourism trading and market purchase, promoting a better understanding in Chinese trading policy and the differences of trading modes for foreigners who do foreign trading business in China.

Tap to enlarge

Why does Market Purchase 

become more and more popular

 in export business?

As a new industry mode and pattern, market purchase trading not only owns great approval and policy support from China but also ensure various welfare for foreign entrepreneurs.

Activity site of the Market Purchase-Starting Trading New Mode 

What are the advantages?

• Ensure validity of the account and collecting foreign exchange in a safe and lawful way.  

• Reduce dependency on HK accounts or NRA accounts when collecting foreign exchange.

• Regular customs declaration and simple settlement only with formal invoices and bills of lading.

• VAT Invoice is not required and tax exempted by government.

• Market Purchase Trading mode is largely encouraged by Chinese government.

Active discussion among foreign entrepreneurs

Active discussion among foreign entrepreneurs

Change the foreign trading mode if 

you’re restricted by various reasons.

How to trade if you owned account in HSBC but it is closed now?

What if the account in ABC was closed due to various reasons and you are badly in need of money to pay for the goods?

How to export without invoices from factory?

……

During the interactive session, foreign entrepreneurs asked question actively, raising many questions concerning about their own business, and Harvey offered detailed solutions and practical suggestions patiently.

foreign entrepreneurs was asking questions actively

As one of the first units qualified in market purchase trading in Guangzhou, China, HACOS provided thousands of foreigners with business services and solutions with professional knowledge and excellent service attitude.

A foreign entrepreneur was taking photos of the key points of the Power Point

HACOS strives for simplification & 

high efficiency in exports for 

foreign entrepreneurs!

• One of the first units qualified in market purchase trading in Guangzhou, China

• Key export unit supported by government in Yuexiu District, Guangzhou, China

• Volume of exports was over 200 million in 2018

• Professional declaration company and staff

• NVOCC membership 

Foreign entrepreneurs was consulting to HACOS’s staff

Foreign entrepreneur shows great approval and satisfactions towards the activity 

Guangdong is currently projected to receive two strong storms in the coming days, one of which – according to numerous predictions – is expected to morph into a super typhoon.

A standby signal No.1 has been issued in Hong Kong, while the Shenzhen Meteorological Bureau has issued a white typhoon warning. 

The first storm is currently forecast to arrive in southwest Guangdong province at around noon on September 13. The weather system began as a low-pressure area south of Taiwan yesterday morning and was upgraded to a tropical depression later in the day. 

The second storm, Typhoon Mangkhut, is big, and experts are warning that it has the potential to develop into a super typhoon. 

© Image | Twitter@AccuWeahther

Yesterday, Mangkhut cruised over the northern portion of the Mariana Islands. Earlier projections indicated the storm would mount a head-on assault on Guam, although the island escaped largely unscathed.

“We dodged a big one,” said US National Weather Service Meteorologist Landon Aydlett, according to the Guam Daily Post. “Thank God we weren’t looking at a Typhoon Pongsona coming through.” (Typhoon Pongsona slammed the American territory in 2002, resulting in widespread destruction). 

Storm tracking platforms indicate Typhoon Mangkhut will pass slightly to the north of the Philippines on Saturday, September 15, before continuing west towards Guangdong province. 

© Image | typhoon.zjwater.gov.cn

While it’s possible Mangkhut may change course, the storm appears set to make landfall in or around the Pearl River Delta on either September 16 or 17. 

As of 3pm yesterday, Mangkhut was releasing gusts of up to 185 kilometers per hour, according to an estimate published by the Philippine Star. 

By Saturday morning, wind strength may reach 240 kilometers per hour near the eye of the storm. 

To put Mangkhut’s power in perspective, 1991’s infamous ‘Perfect Storm’ in the Atlantic, which killed 13 people, including the crew of the Andrea Gail, the protagonists of the non-fiction novel The Perfect Storm, reached a maximum wind speed of 120 kilometers per hour.  

According to the Philippine Star, the Philippine Atmospheric, Geophysical and Astronomical Services Administration defines a ‘super typhoon’ as a typhoon with “maximum sustained winds of 220 kilometers per hour.”