China Industry Tenders and Bids

Get access to latest China industry tenders and bids. Find business opportunities and government contracts for China industry tenders, industry tenders, China machinery tenders, China equipment tenders, China industrial tenders, China industrial plant tenders, China industrial machinery tenders, China industrial equipment tenders, China construction material tenders. Find China industry bids, tenders, procurement, RFPs, RFQs, ICBs. Search for China industry tenders online. The economy of the People's Republic of China is a developing market-oriented mixed economy that incorporates economic planning through industrial policies and strategic five-year plans. Dominated by state-owned enterprises and mixed-ownership enterprises, the economy also consists of a large domestic private sector and openness to foreign businesses in a system described as a socialist market economy.State-owned enterprises accounted for over 60% of China's market capitalization in 2019 and generated 40% of China's GDP of US$15.66 trillion in 2020, with domestic and foreign private businesses and investment accounting for the remaining 60%.As of the end of 2019, the total assets of all China's SOEs, including those operating in the financial sector, reached US$78.08 trillion. Ninety-one of these SOEs belong to the 2020 Fortune Global 500 companies. China has the world's second largest economy when measured by nominal GDP, and the world's largest economy since 2014 when measured by Purchasing Power Parity. It has been the second largest by nominal GDP since 2010, with data relying on fluctuating market exchange rates. A forecast states that China will become the world's largest economy in nominal GDP by 2028. Historically, China was one of the world's foremost economic powers for most of the two millennia from the 1st until the 19th century. The government began its economic reforms in 1978 under the leadership of Deng Xiaoping. As a result, China has the world's fastest-growing major economy, with growth rates averaging 10% over 30 years. China has four of the world's top ten most competitive financial centers, more than any other country. China has three of the world's ten largest stock exchanges, both by market capitalization and by trade volume. As of 12 October 2020, the total market capitalization of Mainland Chinese stock markets, consisting of the Shanghai Stock Exchange and Shenzhen Stock Exchange, topped US$10 trillion, excluding the Hong Kong Stock Exchange, with about US$5.9 trillion. As of the end of June 2020, foreign investors had bought a total of US$440 billion in Chinese stocks, representing about 2.9% of the total value, and indicating that foreign investors scooped up a total of US$156.6 billion in the stocks just in the first half of 2020. The total value of China's bond market topped US$15.4 trillion, ranked above that of Japan and the U.K., and second only to that of the U.S. with US$40 trillion, as of the beginning of September 2020. As of the end of September 2020, foreign holdings of Chinese bonds reached US$388 billion, or 2.5%, of the total value, notwithstanding an increase by 44.66% year on year. In macroeconomics, an industry is a branch of an economy that produces a closely-related set of raw materials, goods, or services. When evaluating a single group or company, its dominant source of revenue is typically used by industry classifications to classify it within a specific industry. However, a single business need not belong just to one industry, such as when a large business diversifies across separate industries. Industries, though associated with specific products, processes, and consumer markets, can evolve over time. One distinct industry (for example, barrel making) may become limited to a tiny niche market and get mostly re-classified into another industry using new techniques. At the same time, entirely new industries may branch off from older ones once a significant market becomes apparent (as the semiconductor industry becomes distinguished from the wider electronics industry). Industry classification is valuable for economic analysis because it leads to largely distinct categories with simple relationships. However, more complex cases, such as otherwise different processes yielding similar products, require an element of standardization and prevent any one schema from fitting all possible uses."

GlobalTenders, one of the largest and most trusted sources for Tendering opportunities and Business Intelligence. With the aim of making information easier to access, Global Tenders was established as a business connect platform in 2002. GlobalTenders has more than two decades of experience in tender business.

On GlobalTenders you'll find the most comprehensive and authentic Tenders Database. GlobalTenders collects tender notices, contract awards, procurement opportunities from various sources. Some of sources for Australia Government Contracts and Tenders are:

Government Tenders Sites
Ministry Tenders Sites
Government Tender Bulletins
eTendering System
Central Government Tenders Websites
Public Procurement System
eTender Portal
Tender Periodicals
Government Eprocurement Sites
Government Department Tenders Sites
State Government Tenders Sites
Municipal Corporation Tenders

Global Tenders, through its proprietary algorithms offers an advanced yet simple to use search option through which the notices can be filtered according to the keywords, sectors, regions, product classifier, deadline, estimated cost with an option to export the results or set as daily email alerts.

Invitation to tender

An invitation to tender (ITT, otherwise known as a call for bids or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been previously assessed for suitability by means of a supplier questionnaire (SQ) or pre-qualification questionnaire (PQQ).

The term "notice inviting tenders" (NIT) is often used in purchasing in India.

An ITT differs from a request for quotation (RFQ) or a request for proposal (RFP), in which case other reasons (technology used, quality) might cause or allow choice of the second best offer. An RFP is a request for a price from a buyer but the buyer would also expect suggestions and ideas on how the project work should be done. RFPs are thus focused on more than just pricing/cost, they entail a bit of consulting from the contractor or vendor. The closest equivalent to an ITT in the mainstream private sector is an RFP which, since public money is not involved, typically has a less rigid structure.

Typology

Open tenders, open calls for tenders, or advertised tenders are open to all vendors or contractors who can guarantee performance.
Restricted tenders, restricted calls for tenders, or invited tenders are only open to selected pre-qualified vendors or contractors. The tender stage may form part of a two-stage process, the first stage of which (as in the expression-of-interest (EOI) tender call) was itself advertised, resulting in a shortlist of selected suitable vendors.
Sole source tenders, where only one potential supplier is invited to submit a tender.

The reasons for using restricted tenders differ in scope and purpose. Restricted tenders can come about because of:
- confidentiality issues (such as in military contracts)
- the need for expeditiousness (as in emergency situations)
- a need to exclude tenderers who do not have the financial or technical capabilities to fulfill the requirements.

A sole source tender may be used where there is essentially only one suitable supplier of the services or product.

Other types of proposal and terms in use include:
EOI – expression of interest
IFB – invitation for bids
ITN – Invitation to negotiate
ITV – invitation to vendors
RFA – request for applications
RFD – request for documentation
RFI – request for information
RFO – request for offers
RFP – request for proposal
RFQ – request for quotation or request for qualifications
RFS – request for services

The online tender process typically involves the following steps:

Publication of tender notice: The procurement agency publishes the tender notice on their website and other online platforms.
Bid submission: Suppliers access the tender documents online, prepare their bids, and submit them electronically before the deadline.
Bid evaluation: The procurement agency evaluates the bids electronically based on the evaluation criteria specified in the tender documents.
Contract award: The contract is awarded to the successful bidder, and the procurement agency notifies all bidders of the outcome.

Note that the tender process may vary depending on the procurement agency and the type of tender. Therefore, it is essential to carefully review the tender documents and follow the instructions provided.

Some portion of this article uses material from the Wikipedia article "Invitation to tender", which is released under the Creative Commons Attribution-Share-Alike License 3.0. Tags: China Industry Tenders, China Industry Bids, China Industry Global Tenders, China Industry International Tenders, RFPs, RFQs, EOI, ICBs, Contract awards.