Tag Archives: yiwu news

Yiwu: India Takes Up Traders’ Case With China Again | news.outlookindia.com

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India today asked China to allow two Indian traders facing legal proceedings in this country to return home pending resolution of their case, but Beijing said they cannot leave without paying dues to local businessmen.

The issue of Deepak Raheja and Syam Sunder Agrawal, who had threatened to commit suicide if they were not sent home, was taken up by External Affairs Minister S M Krishna with his Chinese counterpart Yang Jiechi on the sidelines of the BRICS summit in New Delhi.

This was the third time in the last two months that Krishna took up the traders’ issue with Yang, Indian embassy sources here told PTI.

Indian officials said they have been urging the Chinese Foreign Ministry to permit the duo to go back home as they can return whenever the court wants them.

Foreign Ministry spokesman Hong Lei, however, told a media briefing here today that the two should comply with the court order to pay compensation to the Chinese businessmen.

As a country under rule of law, China “protects the legitimate rights and interests of people concerned,” he said replying to a question on the traders.

“As far as we know (a) local court has tried to mediate the case and handled it according to law. Since the two Indian businessmen up to now have not honoured their compensations commitment relevant court has ordered these two not to leave.

“This order is still in effect. Hope the businessmen will truly respond to the demand of relevant Chinese businessmen so that the issue can be properly handled,” he said.

Hong was referring to a lower court’s order in Yiwu. But since early this month, the case has been taken up by a higher court in Jinhua, which reserved its order on the duo’s plea that they were only employees of a company which owed dues to the tune of over a million RMB (USD 1.58 lakh) to the local businessmen.

Raheja said that though they were earlier accused of owing 10 million RMB, the court document only says over a million RMB.

The Indian consulate in Shanghai said they had to arrange a lawyer with the great difficulty as no advocate in the city was willing to take up the duo’s case.

Besides funding their lodging, food and medical expenses for a month, the consulate sent its officials to be present in the court.

A diplomat, S Balachandran, was manhandled when he tried to seek their release in Yiwu court in January.

Indian officials here also met the Chinese Foreign Ministry officials and appealed to them to permit the two to go home as they can return any time the court wants them.

So far the consulate has spent 43600 RMB (about USD 7000) on the case and now stopped the payment saying that they have no provision to continue to pay their expenses. They want USD 128 per day for maintenance.

Meanwhile, the two are on hunger strike since yesterday, a day after they were thrown out of the hotel where they were staying due to pending bills, and sent e-mails to media threatening to commit suicide one after another in a week if they were not sent back home.

The Indian consulate today arranged to get their passports back from the hotel and send them to Yiwu to renew their visas, sources at the embassy here said.

The court has put a travel ban on them.

The Indian embassy and consulate are doing what they can do, an embassy official said. “We have arranged their train tickets for Yiwu and gave some pocket money.”

He said rules permitted Indian missions to provide financial assistance to stranded Indians only for 15 days, whereas in this case the expenses of the duo have been paid for a month.

 

Yiwu Indian Traders Sleeping On Streets of Shanghai

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Beijing, March 29: Two Indian traders who are awaiting judgment from a Chinese court over a bitter dispute with businessmen in the southern trading hub of Yiwu were forced to spend Tuesday night sleeping on the streets of Shanghai because they have run out of money, The Hindu reported. 

Deepak Raheja and Shyamsunder Agarwal stand accused of owing 10 million RMB ($1.58 million) to Chinese traders after the Yemeni owner of their trading firm fled abroad leaving unpaid dues.

The two traders were held hostage in Yiwu for over two weeks in December by Chinese suppliers. They were subsequently allowed to leave for Shanghai following a court hearing, and were being looked after by the Indian Consulate in the city while awaiting the verdict.

     

The Consulate had so far spent around 45,000 RMB ($7,142) on their hotel bills and living expenses, but had to stop payments as they did not have the approval from New Delhi for further funds, an official said.

“We were thrown out of the hotel because we could not pay the bills, and had to spend Tuesday night sleeping on the street,” Raheja said in a telephone interview.

The two traders have written to the Ministry of External Affairs in New Delhi seeking financial assistance of $128 a day until the verdict is announced.

While thanking the Consulate for its support over the past weeks, Raheja said he is in a “dire” financial situation after paying 900,000 RMB ($143,000) out of his own personal savings to suppliers while he was being held captive. Both traders do not have access to any other funds, he said.

      

The traders have also asked to be allowed to return to India, though there is little likelihood of that until the case is resolved. Chinese prosecutors and dozens of suppliers hold them accountable for a vast sum of money, while court authorities are in possession of their passports.

Hearings on the case began on March 1 at an Intermediate court in Jinhua, near Shanghai. Suppliers accused the two Indian traders of being liable for the dues, and have produced documents and receipts, with the traders’ signatures, to prove their case.

Raheja is arguing that the signatures were made under duress. He said he was only an employee in the firm, which he claimed was owned by a Yemeni national who has absconded. He has also filed a case against the suppliers for kidnapping and torture, and demanded the return of his money.

       

Indian officials have asked Chinese authorities to speed up investigations and announce a verdict soon to resolve the matter. External Affairs Minister S.M. Krishna raised the issue with his counterpart Yang Jiechi during a visit here last month, when he also met the two traders. “It has already been three weeks since the hearing,” an official said. “This situation cannot go on forever.”

2 Indian traders in Yiwu: Kidnapped, assaulted & now abandoned?-

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Kidnapped, assaulted & now abandoned?

29 Mar 2012, 0848 hrs IST

Indian trader Deepak Raheja was freed from the illegal custody of the Chinese just three months ago but now Raheja and his colleague Shyamsundar Agarwal again in deep trouble with no money and Indian embassy stopping financial help they are fending for themselves on the streets of Shanghai. Deepak Raheja, Indian trader, said, “We are sleeping on the footpaths of China. Indian Government is saying that we do not have funds. We cannot leave the country because of the own going case.”

Raheja and Shyamsundar were held hostage in the Chinese trade hub of Yiwu in December after their owner fled leaving behind massive dues. Shyamsundar Agarwal, Indian trader, said, “The consulate in our embassy keeps on saying that they will do something and that we should wait for a day. But we are in very poor condition, neither do we have anything to eat nor do we have any shelter.” The Indian Government is promising action. The fate of these Indian traders now hangs in balance but with the Chinese President Hu Jintao scheduled to arrive in New Delhi today for the BRICS Summit some hope for their return.

via Kidnapped, assaulted & now abandoned?- TIMESNOW.tv – Latest Breaking News, Big News Stories, News Videos.

Yiwu:Indian traders in Shanghai told to ‘honour’ their commitments

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Chinese officials on Thursday said the two Indian traders who have been rendered homeless in Shanghai while awaiting judgement from a Chinese court cannot leave the country unless their case was resolved and they “honoured their compensations”.

Deepak Raheja and Shyamsunder Agarwal have been accused by Chinese traders of owing more than 10 million RMB ($ 1.58 million) after the Yemeni owner of their trading firm in the southern hub of Yiwu fled abroad leaving dues unpaid. The two traders were held hostage in Yiwu for two weeks in December, but allowed by a local court to leave to Shanghai after surrendering their passports while prosecutors investigate the case.

The two traders have been forced to spend the last two nights on the streets of Shanghai after being thrown out of their hotel because they could not pay their bills. The Indian Consulate in the city had so far been covering their expenses, but said it did not have the approval to go beyond the 45,000 RMB ($7,142) it has already spent on the two men.

While the traders have told the Indian media they will go on “a hunger strike” until they are allowed to leave China, such a prospect remains unlikely until the legal procedures run their course.

Chinese officials also stress that the traders still have to answer the charges of suppliers who have lost millions on account of the trading firm where they worked. The firm owes their customers in Yiwu at least 10 million RMB ($ 1.58 million).

“As far as we know, the local court has tried to mediate the case and handle it according to law,” said Foreign Ministry spokesperson Hong Lei.

“Since the two Indian businessmen up to now have not honoured their compensation commitment, the relevant court has ordered them not to leave. This order is still in effect. We hope the businessmen will respond to the demand of the relevant Chinese businessmen so that the issue can be properly handled.”

Mr. Raheja and Mr. Agarwal have said they were only employees in the firm and it was the Yemeni owner who was responsible for the payments.

However, Chinese traders have produced documents and receipts in court, with the signatures of the Indian traders, acknowledging the dues. The Indian traders said the documents were signed under duress.

Hearings began in an Intermediate court in Jinhua, near Shanghai, on March 1.

According to one legal expert familiar with the workings of the Chinese system, even the best outcome for the traders would possibly be deportation without jail time but would likely also entail a heavy fine, one which Mr. Raheja says he will be unable to pay. “Even if the owner is Yemeni, if he cannot be found, it is very hard to imagine the authorities letting foreign nationals leave scot free when there are angry Chinese traders still owed money by the same firm,” the expert said.

With the trading firm’s Yemeni owner still untraceable, Mr. Raheja told The Hindu he is in a “dire” financial situation, having already paid 900,000 RMB ($143,000) out of his own personal savings while he was being held captive. He has also demanded compensation for his money and for the trauma he faced while being illegally detained by Chinese suppliers.

Indian officials have asked Chinese authorities to speed up investigations and announce a verdict. With three weeks having passed after the hearing, an official said the “situation cannot go on forever.”

via The Hindu : News / International : Indian traders in Shanghai told to ‘honour’ their commitments.

Yiwu Rural Cooperative Bank Won Honors

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.“Ensure that in 2011 the newly developed 2000 acres of land successfully on Dendrobium candidum, continuing the bigger and stronger Dendrobium business” is a top priority of leading agricultural enterprises in Zhejiang Province Sen Yu Industrial Co., Ltd. this year, with the Agricultural Bank of China Yiwu points fast line 1160 million loan in place, the responsible persons Yu How-sin was finally relieved.

　　Zhejiang Sen Yu Industrial Co., Ltd. is mainly engaged in planting, sales, flagship product, “Moriyama” brand Dendrobium fighting, the country has greater visibility, the total area of ​​3385 acres of existing planting base, where in 2011 a total of 2570 acres of new planning new planting area of ​​1,000 acres, requires a lot of capital investment, that the business situation, the Agricultural Bank of China Yiwu Branch initiative to come for the corporate finance advice, less than a few days, 11.6 million yuan of loans to corporate accounts, lines long the Zhangshan Ming said that the bank Senyu company’s actual financial requirements, continue to intensify support to help enterprises bigger and stronger.

　　In recent years, the Agricultural Bank of China Yiwu Branch continue to increase efforts to support three rural economy, and to deepen the “three rural financial services as an important measure in support of Yiwu Economic Development. Up to now, the Bank of agriculture-related loans reached 11.184 billion yuan, accounting for 77.61% of total loans, the first two months of this year has been added agriculture-related loans of 537 million yuan to support the development of the Yiwu three rural economy.

　　It is understood that the Agricultural Bank of China Yiwu branch will be based in Yiwu practical help. “Rural” economic development, starting from the four areas. First, the strong support of Yiwu national, provincial-level leading agricultural development in a timely manner to meet the financing needs of the leading enterprises. Second, the International Trade City market and Nongmao Cheng market as the starting point, and actively promote “market + farmers” marketing model, efforts to expand the effective coverage of market quality customers, cultivate the core customer base, giving priority to the size of credit market customers. To raise the overall level of agriculture-related financial services. Actively cultivate the customers of the the Huinong card quality, merit-based payment of microfinance loans issued this year, the Huinong card 10350, issued microfinance loan of 45.7 million yuan.Fourth, vigorously implement the agro-business links “and benefit farmers” project, promote the use of Jin Yinong mobile service pack installed, the township rural Huinong cash to facilitate the farmers to use the card to further broaden the channels for agriculture-related services. (Zhou Zongrong)

　　Agricultural Bank of China Yiwu Branch

　　Help three rural economic development

　　Recently, the Provincial Rural Credit Union awarded Yiwu rural cooperative banks, “top ten rural banks, three of the Headquarters building an advanced society” and “civilized norms demonstration unit honorary title in recognition of its business development, asset quality, financial effectiveness of services “rural” and the outstanding performance of the small micro-enterprise.

　　It is understood that in 2011, under the correct leadership of the higher authorities and the Yiwu municipal government of Yiwu the IICA line leadership team unity and cooperation, forge ahead, the better to complete the tasks of the higher authorities, the business is booming, workers cohesion is further enhanced. The end of December 2011, the Bank deposits balance of 29.708 billion yuan, 21.889 billion yuan of the loan balance.

　　In 2011, Yiwu IICA line active implementation of the headquarters building and branch transformation project “, the headquarters organizational structure to optimize the recycling of combing and re-set up headquarters positions, clear departments and job responsibilities boundary. Continue to push forward the transformation of outlets, the implementation of the network flat, vertical management, revision and improvement of non-directly under the branch ranking assessment methods, according to different regions, the scale of the implementation of the different license management and financial resource allocation management, the larger the business, the level of management than The high non-immediate branch gradually transition to the headquarters of a management assessment. Actively carry out the construction of the benchmark bank, strict process of service delivery, import outlets counter service levels improved significantly, and significantly reduced customer complaints, and the the Yiwu IICA line image of public praise.

　　In addition, Yiwu IICA line always adhere to the priority to credit funds needed for agricultural production, agriculture loan to open a green channel to ensure that farmers apply for a loan is simple and transparent procedures; set up 153 help farmers teller service points, an effective solution to remote villages Small farmers withdrawals and payment problems; actively carry out financial support for agriculture in transition upgrade activities, to increase funding support for high-tech agricultural enterprises, agricultural technological transformation projects, brand agricultural development projects, and actively promote the industrialized operation of agriculture and promotion of agricultural processing and conversion value. Closely around the city to build a beautiful rural, developing modern agriculture “hot, increase the focus on urban and rural integration support to implement actions to actively promote the comprehensive reform of the urban and rural. As of the end of December 2011, Yiwu rural cooperative OK agriculture-related loans totaled 19.056 billion yuan, an increase of 2.848 billion yuan. In support of small businesses, Yiwu rural cooperative bank take full advantage of the credit means to facilitate SME restructuring and upgrading promote the Yiwu small and medium enterprises for independent innovation and energy saving and emission reduction. Constantly improve the “six mechanisms” construction of small businesses, to improve the small business financial services. Growth of small micro-enterprise campaign, to be in Yiwu International Mall surrounding suburbs occupies part of the town center to set up 3 to 6 small micro-enterprise loans to franchisees, provide one-stop financial services for small and micro enterprises, and arranged $ 10 billion special credit funds to support small and micro enterprise development. (Yong-Sheng Zhang)

　　The Jinhua Bank Yiwu Branch

　　To carry out the service etiquette skills training

　　ICBC ICBC

　　e pay a small shortcut to pay the new experience

　　In order to better meet customers’ online shopping and e-commerce activities such as micro-payment needs, the innovation of the Industrial and Commercial Bank of China launched a new online micro-quick pay service — ICBC e payment. At present, ICBC e-commerce merchants have to pay to complete a small online payment operations supported by ICBC e.

　　Holders of the ICBC accounts and to transact business at the bank counter reserved for individual customers of the mobile phone number, can be opened online self use “ICBC e payment services required to apply for U shield, without having to install a control driver of the line portal (www.icbc.com.cn) or the Personal Internet Banking, customers can self-opened through the bank account of the phone number + 6 (or 4 digits account alias) + dynamic password ” authentication, complete electronic payment transactions. ICBC also provides a dot counter, self-service terminal channels to customers for the opening of ICBC e payment, to facilitate customers to choose. At present, ICBC e to pay mainly for the single amount of micro-payment of less than 1000 yuan, the large-value payment through ICBC Internet banking, mobile banking.

　　ICBC e pay to provide customers with a convenient, fast payment service, is also a very good job in protecting the safety of customer funds. The opening of the business and transaction authentication are handled in the bank-side, all customer information in the bank-side input to ensure that customer information security; use of bank security authentication mode, all mobile phone dynamic password text messages by the Industrial and Commercial Bank SMS Banking service number 95588 directly Send to facilitate the effective identification, phone dynamic password and transaction elements to bind one-time pad, to enhance transaction security; opened when customers can self-set to set aside the authentication information to effectively assist clients to identify fake payment page; account aliases to use provide a full range of security features and self-adjust transaction limits for the safety of customer funds. The business has been introduced on sought after by the majority of online shopping lovers, nearly three months, the province has more than 20,000 users to the opening and use the new business. To allow more customers familiar with and accustomed to using this new micro-quick payment as soon as the Zhejiang Branch of ICBC will join e-commerce sites in the province introduced a number of marketing activities, allowing customers to experience a new payment method at the same time, the better to enjoy the wonderful benefits of ICBC and merchants.

　　Not Miller, to stand. “Etiquette is the organic integration of a person external beauty and inner beauty is the foundation for healthy development of financial institutions. On the evening of March 21, the the Jinhua Bank Yiwu Branch organizations of all counter and employees nearly 100 people to carry out special training for service etiquette skills.

　　Training conference, Zhejiang Normal University Senior Lecturer, etiquette training Li Xiangxiang combination of Bank of actual work, starting from the counter and employees how to improve the taste of the culture, learn to communicate with customers, vivid language, detailed case there may be insufficient to service work, learning etiquette skills, services, terms of basic specifications, service standards, literacy knowledge of professional etiquette and everyday social etiquette, personal image, etiquette, telephone etiquette, dinner etiquette, administrative etiquette and other aspects of a full range of training, to go from a sitting posture, from the face of a smile, nod, shake hands and introduce, from dress to language, such as one by one to explain.

　　Penetrated into every detail of the counter and service through training, etiquette, so that the window to effectively regulate their demeanor in the daily work and life, and continually enhance the service capabilities, the intentions of interpretation services is gold to finance the essence of “corporate image . (Wang Dong)

　　Shanghai Pudong Development Bank innovative custom models to meet the financing needs of SMEs

　　Recently, the Shanghai Pudong Development Bank “silver reign” to support the growth of SMEs Action Launching Ceremony held in Yiwu. This means that the total behavior of the Shanghai Pudong Development Bank Yiwu SME tailor-made silver reign business in full swing in the international business city, the size of loans of 1.5 billion will be earmarked for the support the market of small and medium-sized enterprises (businesses) the development of effective alleviate the problem of financing.

　　Shanghai Pudong Development Bank, Branch of Hangzhou and Yiwu branch of three linkage, based on regional characteristics and tailor a customized set of financing, guarantees, value-added service capabilities in one financial platform for Yiwu SMEs, Shanghai Pudong Development Bank adhering to the “customer centric “concept is an important measure.

　　Settled as the first national joint-stock commercial banks in Zhejiang, Hangzhou Branch of Shanghai Pudong Development Bank has been the small and medium enterprises as their closest partners, and whenever necessary, and constantly improve the business strategy.2000 merit-based linkage, the size of both the 2005 clearly one of the important areas of new small businesses as a business development, in 2006, the Hangzhou branch of the Shanghai Pudong Development Bank have begun to actively explore and practice the franchise mode of small and medium businesses. The end of 2009, the branch SME business center was formally established SME business has taken a big step forward by leaps and bounds.

　　There are a set of data can strive to the efforts made by the Hangzhou Branch of Shanghai Pudong Development Bank in which to support SME development. As of the end of December 2011, the People’s Bank of statistical standards for SMEs, SMEs table within the full jurisdiction of Hangzhou Branch of Shanghai Pudong Development Bank loan balance of 58.1 billion yuan, 11.3 billion yuan over the beginning of new; in the 34 branches of the Shanghai Pudong Development Bank, Hangzhou The branch number of SME customers and loan increment are listed first.