PROJECT COMPLETION REPORT - International … COMPLETION REPORT DEMAND AND SUPPLY OF TROPICAL WOOD...

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PROJECT COMPLETION REPORT

DEMAND AND SUPPLY OF TROPICAL WOOD PRODUCTS IN CHINA TOWARDS 2020

HOST GOVERNMENT: The People’s Republic of China

EXECUTING AGENCY: Research Institute of Forestry Information and Policy, CAF

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PROJECT NUMBER PD 480/07 REV.2 (M)

STARTING DATE March 1st, 2010

DURATION 29 months(from March 2010 to July 2012, the last five

months are the added time)

PROJECT COSTS ITTO US$ 263 520

Executing Agency US$ 147 468

Total US$ 410 988

THE ORDINAL NUMBER AND

TYPE OF REPORT

2012 01/Project Completion Report

PROJECT TECHNICAL AND SCIENTIFIC STAFF

Roles Name Contact details

Project

Coordinator

Dr. Hu Yanjie Tel: +86-10-62888981

Fax: +86-10-62888981

Email: [email protected]

Main staff Professor Shi Kunshan Tel: +86-10-62888856


Professor Lin Fengming Tel: +86-10-62889732


Dr. Tan Xiufeng Tel: +86-10-62888981


Dr. Liao Xianchun Tel: +86-10-62889719


IMPLEMENTING INSTITUTE

Full name The Institute of Forestry Policy and Information

Chinese Academy of Forestry

Address Wan Shou Shan, Beijing 100091, P. R. China

Telephone +86-10-62889713

Fax +86-10-62887192

E-mail [email protected]

August, 2012 Beijing China

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Table of Contents

Executive Summary ............................................................................................................

1. Project Identification ........................................................................................................

1.1 Context ......................................................................................................................

1.2 Origin and Problem ....................................................................................................

2. Project Objectives and Implementation Strategy.............................................................

3. Project Performance .......................................................................................................

4. Project Outcome, Target Beneficiaries Involvement .......................................................

5. Assessment and Analysis ...............................................................................................

6. Lessons Learned .............................................................................................................

7. Conclusions and Recommendations ...............................................................................

Annex 1: Project Financial Statement .................................................................................

Annex 2: Project Cash Flow Statement ...............................................................................

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Executive Summary

i）With the rapid development of economy and urbanization, China’s demand for wood

products is increasing dramatically and its potential is great in future. Meanwhile, along

with the progress of integrative global economy, Chinese wood products market has

become an important part of international wood products market. In addition, China is in a

critically transitional period, for forest sector, it is experiencing a historic shift from a focus

on timber production to ecological improvement. As the largest production and export

country of furniture, plywood and wooden flooring in the world, the gap between supply

and demand for timber is becoming bigger and bigger. In order to reach the balance

between supply and demand of wood products market, it is the most important task to get

clear understanding of the situation and future trend of supply and demand of wood

products market. In the context, the project will study the factors which influence domestic

consumption and export of tropical wood products in the new era and forecast the supply

and demand of tropical wood products in China in 2020.

ii）The specific objective of the project is to analyze the timber situation in China by 2020

with focus on tropical timber to increase market transparency in China. In order to

promote the development of international tropical forest product markets and satisfy

domestic market demand for tropical wood products, the project will study not only

demand, supply and production within the Chinese tropical forest product markets but

also the position of China's demand and imports within the global tropical forest product

markets. In order to acquire sufficient materials related to supply and demand of domestic

market, the project team will closely collaborate with relevant industrial associations. In

order to improve the forecasting accuracy, qualitative and quantitative methods will be

applied in the project, and forecasting model will be set up to ensure the objective,

accurate results. In addition, participatory method will be adopted in all project activities

and consultative mechanism will be carried out with stakeholders.

iii）Almost all project activities are carried out as planned. At the end, the project has

extended five more months to wait for the updating official data, make further effort in

revising for more concrete results.

iv）The research report entitled “Demand and Supply of Tropical Wood Products in China

Towards 2020” is helpful for Chinese and foreign competent authorities, relevant industrial

societies and enterprises to have sufficient understanding of supply and demand of

China’s tropical forest product markets, thus they could have a basis to follow when they

implement macro management, formulate policies and make decisions. Meanwhile, the

project greatly enhanced the stakeholders’ understanding on the situation of Chinese

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tropical wood products market and its development trends in 2020. This will create better

conditions for achieving the balance between supply and demand, help domestic tropical

forest product producers and traders choose cooperative partners and make feasible

marketing strategies. Furthermore, the capacity of implementing institute has been further

enhanced through implementing the project, close relationship has been established

between implementing institute with related government authorities, some projects

focusing on tropical timber trade have been allocated to implementing institute to continue

collecting information and trade data on forest products.

v）When preparing the Project proposal, we had gone through a very through process of

literature search and surveys to gain insight into the changes in forest products market

over the past decade. Therefore, the Project had been adequately designed through the

correct definition of problems, the accurate identification of project objectives, and the

viable choice of implementation strategy. At the same time, we consulted different

stakeholders to solicit their contributions to the proposal, this ensure the Project is able to

create impacts to the right target beneficiaries. In addition, the executive agency through

previous projects in this field have established good working relationships with

government organs and other stakeholders, beneficiaries took active part in project

activities. All these contribute to the successful completion of the project.

vi）Through implementing the project, main lessons learned are summarized as below:

Firstly, as the manufacture and trade center of wood products in the world, it is of

significance to forecast demand and supply of wood products in China in foreseeable

future. Therefore, the project identification is of great importance. Secondly, collaboration

with stakeholders is very important throughout the project. Thirdly, the information

correspondents from key consumer provinces of tropical wood products played important

role in collecting data and market surveys. Fourthly, the international consultant played an

important role in framework design and finalization of project technical report. Fifthly, the

international workshop served as a platform for professionals and stakeholders to

exchange information in the field of wood product markets.

Since China plays an increasing important role in the global processing and trading chain

of tropical wood products, and the Chinese wood product market has a strong appeal to

outside world, it is suggested that ITTO should continuously support depth studies on

Chinese tropical wood market.

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1. Project identification

1.1 Context

i) Social, economic and environmental context

With the rapid development of national economy and constant increases of living standard

of the people, China’s domestic demands for wood products increase rapidly in recent

years. At the same time, due to the rapid development of globalization of the world

economy, and the significant advantage of low labor force cost and huge market potential

in China, global wood products manufactures are gradually transferring to China, some

enterprises from developed countries and regions such as North America, Europe and

Japan are transferring their wood manufacture to China one after another. China has

become the manufacture and trade center of wood products in the world. Therefore, due

to the fast growth of domestic demands and the strong drive of export demands, wood

products manufacture industry develops rapidly in China. China has now become the

largest production and export country of furniture, plywood and wooden flooring in the

world. However, owing to shortage of domestic forest resources, and particularly due to

the fact that commercial timber production for natural forests was drastically reduced

since the implementation of Natural Forest Protection Program (NFPP) in 1998, the gap

between supply and demand for timber is becoming bigger and bigger. Therefore, China

has to import large amount of timber to meet her domestic demands. China has now

become the largest country of logs import and the second largest country of wood

products import in the world. China’s consumption of tropical wood products (log and

sawnwood) was mainly met by international market. China has been and will still be the

focal point for her demands for wood products, especially for tropical wood products in the

global markets.

It is a fact that the awareness of sustainable forest management, combating illegal logging

has been raising, people pay more attention to environmental protection. China has been

subjected to criticism and censure from some NGOs for its imports of great deal of timber,

especially tropical timber from foreign countries. Facing these challenges, Chinese

government take active part in international initiatives such as EU-FLEG to improve

marketing and distribution of tropical timber and timber product exports from sustainably

managed and legally harvested sources and which are legally traded. At the same time,

the guideline of developing forest resources in foreign countries is being established in

order to regulate overseas forest enterprises’ actions. In addition, forest certification

develops rapidly in China. The national standard of forest certification has been issued

and carried out pilot test in some regions in China.

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ii) Project location and relevant national policies

The project location is China. China is in a critically transitional period, for forest sector, it

is experiencing a historic shift from a focus on timber production to ecological

improvement. Forestry must meet not only the diversified demand of social for timber and

other wood products but also the need for ecological improvement and safeguarding

national ecological security in China. Ecological demand has become a priority of society

from forestry in China.

The Forestry Eleventh-Five Year Plan (2006-2010) indicates that China will continue to

implement NFPP, stopping commercial logging of natural forest located in upriver areas of

the Yangtze River and the Yellow River, reducing timber production in Northeast and

Inner-Mongolia state-owned forest areas. At the same time, the Forestry Eleventh-Five

Year Plan attaches importance to forestry industry. It also gives emphasis to the

harmonization of forest ecological system, forest industry system and forest culture

system.

Because of the long period needed for forest plantations to reach maturity and because

plantations in China cannot produce the preferred large diameter and high quality logs,

the country will still rely on imports to meet its demand for large diameter logs. To

encourage imports of raw materials, such as timber, the Chinese government has adopted

the measures to abolish or greatly lower import tariff. In addition, the policy of relaxing

import operation regulations has been developed for domestic enterprises undertaking

timber operation and foreign trade.

In China, the overall strategy to address imbalances in timber supply and demand is to

realize self-sufficiency in fiber timber and non-veneer type wood based panel in 2020,

even produce some surplus while, at the same time, relying on imports for high quality,

large-diameter timber especially hardwoods. The department in charge of forestry has

formulated medium and long-term plans to vigorously develop the building of fast-growing

plantation bases (note: this project was started on August 1st, 2002). At the same time, in

order to combat illegal logging and protect natural forests, Chinese government

formulated a system of domestic logging quota and the NFPP plan.

1.2 Origin and Problem

i) Origin

With the rapid development of economy and urbanization, China’s demand for wood

products is increasing dramatically and its potential is great in future. Meanwhile, along

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with the progress of integrative global economy, especially China’s joining in the WTO,

Chinese wood products market has become an important part of international wood

products market. In recent years, more and more international wood products

manufactures moved into China, forest industry developed rapidly in China. It is a fact that

China has become the international center of manufacture, consumption and trade of

wood products in the world.

Driven by both domestic consumption and export demand, the demand for timber

(especially log and sawnwood) increased sharply. Up to now, China is the largest log

import country in the world. Owing to continuously shortage of the domestic timber

especially tropical large-diameter hardwood, as well as increasing timber demand from

furniture and decoration industries, the demand for timber especially tropical hardwood

will increase steadily. In view of the important role that China plays in the global forest

product trades, it is necessary to forecast the supply and demand of Chinese tropical

wood products market.

In addition, more and more countries started to restrict or prohibit exporting tropical logs,

the voice combating illegal logging and trade is becoming stronger and stronger. It is

necessary for Chinese government to take effective measures to readjust the

development of forest industry in the context, and make great effort to reach the balance

between supply and demand of wood products market. In order to realize the objective, it

is the most important task to get clear understanding of the situation and future trend of

supply and demand of wood products market, so as to provide bases to the relevant

authorities for their decision making, as well as provide important market information to

ITTO member countries.

Therefore, as a follow up of the ITTO project PD 25/96 Rev.2（M）(1997-1998), “China’s

Consumption of Forest Products and Its Demand for Them from the International Tropical

Forest Products Market by the Year 2010”, the project will study the factors which

influence domestic consumption and export of tropical wood products in the new era and

forecast the supply and demand of tropical wood products in China in 2020. The outputs

of the project will not only provide references to domestic authorities for making wood

products market policies, but also provide market information to ITTO producer and

consumer countries for making sound marketing strategies, which will help to facilitate

close cooperation between China and other ITTO member countries, and ultimately

promote sustainable development of international trade of tropical wood products.

ii) Main problems to be addressed

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At present, reliable and consistent data and information are not available on the future

demand and supply of tropical wood products market. Most of the existing forecasting

studies on wood demand and supply only touch upon the wood product demand through

domestic consumption, some driving factors such as demand for export have not been

taken into account. In addition, there were different data and information from different

stakeholders on the forest products market because of different definitions of the same

terms, repeated calculation etc. At the same time, lack of coordination and information

sharing among the key sectors has also affected the reliability, consistency and integrality

of the data and information on forest products market. Some stakeholders such as

producers, traders and exporters usually make wrong decisions because of having no

idea on demand and supply of tropical wood products.

All these have a negative impact on achieving the balance between demand and supply of

tropical wood products, in other words, obstructing the sustainable development of

tropical wood products market.

In general, the main problems addressed by the project are as followings:

Lack of reliable and consistent data and information on production of tropical wood

products in China.

Lack of reliable and consistent data and information on consumption of tropical wood

products in China.

Lack of systematical analysis on trade conflicts and trade policy trends.

Framework for consultation among stakeholders has not been established,

2. Project Objectives and Implementation Strategy

i) Project objectives

The development objective of the project is to improve the supply of tropical wood

products from sustainably managed forests to Chinese market and promote sustainable

development of global wood products trade.

The specific objective of the project is to analyze the timber situation in China by 2020

with focus on tropical timber to increase market transparency in China.

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ii) Implementation strategy

In order to promote the development of international tropical forest product markets and

satisfy domestic market demand for tropical wood products, the project will study not only

demand, supply and production within the Chinese tropical forest product markets but

also the position of China's demand and imports within the global tropical forest product

markets. It will provide information to China’s domestic enterprises undertaking tropical

wood products trade, operation, manufacturing and processing. This will be done through

publishing periodical newsletter.

In order to acquire sufficient materials related to supply and demand of domestic market,

the project team will closely collaborate with relevant industrial associations (such as

China National Wood products Industry Association, China National Wood products

Trading Association, Chinese Association of Timber Circulation, Chinese Association of

Architecture Decoration, Chinese Association of Furniture and Chinese Association of

Paper-Making) and General Administration of Customs (GAC, the major source of import

and export statistical data). In addition, contacts and cooperation will be established with

the agencies of major producer and exporting countries set-up in China (including

embassies and trade promotion agencies) and with the industrial associations in China

and overseas.

In order to improve the forecasting accuracy, qualitative and quantitative methods will be

applied in the project, and forecasting model will be set up to ensure the objective,

accurate results of supply and demand in 2020.

In all activities of the project, participatory method will be adopted and consultative

mechanism will be carried out with stakeholders. It is necessary to ensure outputs more

practical, objective and feasible.

iii) Assumptions and risks

This project will involve collaboration with many domestic and international institutions and

there are risks of failed or delayed cooperation. Fortunately for almost all aspects of the

data and information collection there is more than one possible source so the risk of delay

or failed collaboration can be mitigated. For the sake of timely accomplishment of the

planned objectives the project will require collaboration from domestic departments such

as industrial associations, major forest product producing enterprises and trade

companies as well as major forest product markets and trade ports. The project will also

need the support of Chinese government organs (such as the Ministry of Commerce) and

its commercial institutions abroad, the SFA, GAC and National Bureau of Statistics in

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order to collect materials. The risks of failure in this respect can be mitigated as the CAF

through previous projects in this field have established good working relationships with

relevant bodies.

3. Project Performance

(a) Specific objective

Specific objective Performance

Analyze the timber situation in China

by 2020 with focus on tropical timber

to increase market transparency in

China

The timber situation in China by 2020 is analyzed

in the research report.

(b) Outputs and related activities

Output 1.1 Research report – Outlook on demand and supply situation of tropical wood

products in China in 2020

Activity Planned Implemented

1.1.1 Conduct 15 domestic

investigations

Completed. 15 domestic investigations had been

carried out in South China (Guangdong, Hainan,

Guangxi and Fujian provinces, 4), East China

(Shanghai City, Zhejiang, Jiangsu and Shandong

provinces, 4), Southwest China (Yunnan, Sichuan

and Xinjiang provinces, 3), North China (Beijing

and Tianjin, 2), Northeast China ( Liaoning and

Heilongjiang Provinces, 2), to collect information

on timber resources, production and consumption.

1.1.2 Collect, collate and

copy relevant materials

Completed.

1.1.3 Compile and translate

research report

Completed.

1.1.4 Publish and

disseminate research

report

Completed. The research report named “Demand

and Supply of Tropical Wood Products in China

Towards 2020” had been completed and

disseminated.

1.1.5 Attend international Completed. Three international exchanges had

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forums been carried out, attending the XXIII IUFRO World

Congress in Seoul, August 2010; Visiting

CENTRAFOR of University of Washington, May

2010; Visiting Forest Products Laboratory of USA,

December 2011.

Output 1.2 Analysis report - Productive capacity of Chinese tropical wood processing

enterprises and the end uses of the imported tropical logs


1.2.1 Collect materials Completed.

1.2.2 Conduct 8 domestic

investigations to typical

wood processing

enterprises

Completed. In order to collect information on the

end use of imported tropical forest products, 8

domestic investigations had been carried out in 2

flooring enterprises and 2 furniture manufacturer

of Guangdong Province, 3 flooring enterprises

and 1 wooden door manufacturer of Zhejiang

Province, 2 plywood manufacturers of Shandong

Province, 2 rosewood furniture manufacturers and

1 flooring manufacturer of Shanghai.

1.2.3 Hold a seminar to share

information among

enterprises

Completed. A information sharing seminar was

held in December, 2010 in CAF.

1.2.4 Analyze data collected

and verify these data

with related

stakeholders

Completed. Project team visited some related

associations and statistic division of SFA to verify

information and data.

1.2.5 Write report and

translate it into English

Completed.

1.2.6 Print and disseminate

the report

Completed. Analysis report on Chinese tropical

wood processing enterprises is available

Output 1.3 Investigation report - A survey on consumers’ preference on tropical wood

products in China


1.3.1 Collect and collate

existing materials, work

Completed. The questionnaire had been worked

out and be distributed during late half of 2010.

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out questionnaire and

distribute it and get

feedback

1.3.2 Carry out 7 domestic

investigations in main

consumption areas

Completed. 7 domestic investigations had been

carried out in Beijing, Guangzhou, Shanghai,

Shenyang, Kunming, Harbin and Nanjing cities to

collect information and make market surveys. In

addition, we got feedback from Wuhan, Chendu,

Taiyuan, Zhengzhou, Xian, Wulumuxi, Jinan and

Hefei cities through correspondents.

1.3.3 Write and translate the

report

Completed.


the report

Completed. The analysis report on consumers’

preference on tropical wood products is available.

Output 1.4 Analysis report - Conflict issues and policy trends on China’s trading of

tropical wood products


1.4.1 Collect, copy and

collate existing

materials

Completed.

1.4.2 Visit to and consult with

stakeholders

Completed. Project team had visited

governmental departments, industry associations,

production enterprises and traders, as well as

representative offices of foreign organizations in

China

1.4.3 Write and translate

report

Completed.


research report

Completed. Analysis report named trade friction

and the countermeasures is available.

Output 1.5 Holding an international workshop – “Perspective on Global Tropical Wood

Products Market: Potential and Challenge” and publishing proceedings


1.5.1 Set up an organizing Completed.

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group to draw plan

1.5.2 Invite 6 participants

from tropical timber

producing countries

Completed. 6 participants from Ghana, PNG,

Malaysia, Vietnam, Myanmar and New Zealand

were invited to be speakers of the workshop.

1.5.3 Invite 15 Chinese

participants

Completed. More than 60 participants attended

the workshop

1.5.4 Hold a workshop Completed. The international workshop -

“Perspective on Global Tropical Wood Products

Market: Potential and Challenge” had been held in

Beijing on October 13-14 of 2011

1.5.5 Publish and

disseminate workshop

proceedings

Completed. The proceeding “Perspective on

Global Tropical Wood Products Market: Potential

and Challenge” had been printed and

disseminated.

Output 1.6 Publishing the China’s Forest Products Market Information in both Chinese

and English


1.6.1 Collect materials and

solicit contributions

Completed.

1.6.2 Engage 12 specially

invited correspondents

Completed.

1.6.3 Editing and translation Completed.

1.6.4 Printing, publishing and

disseminating

Completed. Twenty four issues of China Wood

Products Market Information have been compiled

and published both in Chinese and English

(c) Schedule

Starting date: March 1st, 2010

Duration: 29 months (from March 2010 to July 2012, the last five months are the added

time)

(d) Total amount of expenditure

The total amount of expenditure is US$ 263 520 from ITTO contribution. Overall project

budget were spent as planned.

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4. Project Outcome, Target Beneficiaries Involvement

i）The extent to which the project specific objective was achieved

The specific objective of the project is to analyze the timber situation in China by 2020

with focus on tropical timber to increase market transparency in China.

The project research report analyzed the timber situation in China with a focus on tropical

timber. This report is organized as follows: Chapter 1 presents information on China’s

forest resources. It includes forest area, inventory level, ownership data and the type and

category of China’s forest resources. It divides forests into natural and plantation forests

and describes tropical forests. Chapter 2 examines the production and consumption of

wood products in China. Historical trends are established from data collected on logs,

sawnwood, wood-based panels, veneers, wood flooring, wood furniture and wood chips.

Distinctions in the trends are made between tropical and non-tropical products. Chapter 3

examines international trade in wood products. The sources and destinations of products

from and to China are recorded. The analysis contains information on both value and

volume of trade activity. As in previous chapters, distinctions are drawn with respects to

tropical wood products trade activities. Chapter 4 introduces China’s timber consumption

and domestic supply situation in 2010. It then forecasts consumption to 2015 and 2020.

In Chapter 5 the forecast model for supply and demand for tropical wood products is

presented. The model was developed for the project and reviewed by experts in the field.

Chapter 6 presents policy recommendations in order to alleviate the conflicts between

supply and demand of tropical timber.

In order to complete the research report, major project activities and outputs included data

collection, analysis and preparation of interim reports, two separate analysis reports and

an investigation report, including the analysis reports on the productive capacity of

Chinese tropical wood processing enterprises and the end uses of the imported tropical

log were finalized and use to develop this final research report. Outreach activities

included publishing and disseminating China’s Forest Products Market Information, and

holding seminars and an international workshop, which are useful tools to increase

information transparency of China’s wood product markets. A newly-created forecasting

model for the supply and demand of tropical wood products in China, and questionnaires

for enterprises and consumers were developed for the project.

Therefore, as a follow up of the ITTO project PD 25/96 Rev.2（M）(1997-1998), “China’s

Consumption of Forest Products and Its Demand for Them from the International Tropical

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Forest Products Market by the Year 2010”, the project had studied the factors which

influence domestic consumption and export of tropical wood products in the new era and

forecast the supply and demand of tropical wood products in China in 2020. The specific

objective had been achieved to great extent. The outputs of the project will not only

provide references to domestic authorities for making wood products market policies, but

also provide market information to ITTO producer and consumer countries for making

sound marketing strategies, which will help to facilitate close cooperation between China

and other ITTO member countries, and ultimately promote sustainable development of

international trade of tropical wood products.

ii）The situation existing

The situation after project completion is described as bellows:

Firstly, the research report entitled Demand and Supply of Tropical Wood Products in

China Towards 2020 has been finished and disseminated, its content not only touching

upon the analysis of factors influencing tropical wood products supply and demand in

China, but also forecasting supply and demand trend in 2020 through data analysis and

forecasting model, providing feasible scenarios and suggestions on how to satisfy future

market demands and realize balance between supply and demand, which is helpful for

Chinese and foreign competent authorities, relevant industrial societies and enterprises

undertaking tropical forest product operation to have sufficient understanding of supply

and demand of China’s tropical forest product markets, thus they could have a basis to

follow when they implement macro management, formulate policies and make decisions.

Secondly, through conducting domestic investigations, holding stakeholders’ consulting

meeting, seminars and international workshop, expanding the exchange network of

international forest product information, especially publishing the reference materials

(analysis reports and investigation report, and newsletters), the project greatly enhanced

the stakeholders’ understanding on the production, demand and trade situation of Chinese

tropical wood products market and development trends in 2020. This will create better

conditions for achieving the balance between supply and demand and sustainable

cooperation between China and producing and consuming countries of tropical timber. At

the same time, this is also helpful for domestic tropical forest product producers and

traders choose cooperative partners and make feasible marketing strategies.

Thirdly, after completion of the project, the capacity of the ITTO supported Tropical Forest

Product Information and Consultation Center of China has been further enhanced, its

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resource and information base is expanded, its links with the wood products sector in

China and in producer countries become closer and closer. Producers and traders at

home and abroad can timely understand the market situation of tropical wood products

through the newsletter “Chinese Wood products Market Information”.

In addition, implementing institute established more close relationship with governments

such as State Forestry Administration, Ministry of Commerce during implementing the

project. The Plan and Financial Department of SFA pay more attention to tropical wood

market and related trade issues, some projects focusing on tropical timber trade has been

allocated to implementing institute, some cooperative activities on African forestry are also

being conducted between CAF and Ministry of Commerce.

iii）The participation of target beneficiaries

The project team has been contacting with domestic beneficiaries, for example, by means

of telephone, emails, holding seminars etc, to know what they need and to provide

domestic and oversea wood products market information in multiple ways for their

reference to develop policies and coordinate production and marketing.

For overseas beneficiaries, the project team has been contacting them through field visits

or by telecommunications and to know international market information and related

policies, as well as their requirements.

During implementing the project, target beneficiaries and their participation are as

followings:

Government authorities, including State Forestry Administration, Ministry of

Commerce and Customs etc., will mainly participate in activity 1.1.2, 1.1.4,

1.2.4, 1.4.2 and 1.5.3.

Related associations, including National Forest Industry Association, National

Timber Distribution Association etc., will mainly participate in activity 1.1.4, 1.2.1,

1.2.3, 1.3.1, 1.4.2, 1.5.3 and 1.6.1.

Tropical wood products enterprises, including domestic enterprises and foreign

companies in joint-venture or independent venture, will mainly participate in

activity 1.1.4, 1.2.3 and 1.5.3.

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Tropical wood products traders, including domestic traders and some

multinational corporations who are eager to access Chinese market, will mainly

participate in activity 1.1.4, 1.4.2 and 1.5.3.

Large domestic forest products markets which play an important role in tropical

wood products distribution, will mainly participate in activity 1.3.1, 1.3.2, 1.5.3

and 1.6.1.

End consumers of tropical wood products will mainly participate in activity 1.3.2.

Just as mentioned above, the outputs of the project will be useful for target beneficiaries,

for example, the research report is helpful for Chinese and foreign competent authorities,

relevant industrial societies and enterprises undertaking tropical forest product operation

to have sufficient understanding of supply and demand of China’s tropical forest product

markets, thus they could have a basis to follow when they implement macro management,

formulate policies and make decisions. The reference materials, including analysis reports,

investigation report and newsletters, are also helpful for domestic tropical forest product

producers and traders choose cooperative partners and make feasible marketing

strategies.

iv）Project sustainability

At present, forest products market and international trade is one of the most important

research fields of Research Institute of Forestry Policy and Information (RIFPI), CAF. With

the establishment of Center for International Forest Product Trade of SFA in implementing

institute, SFA has allocated related projects to RIFPI, which ensure the sustainability of

market information collection and trade database.

Through implementing the project, project team has established close relationship with

some foreign research institutes, such as CENTRAFOR of University of Washington,

Forest Products Laboratory of USA, proposal on forecasting model of forest product will

be proposed for future further cooperation. At the same time, the project team will

continue to keep information exchange with them, so as to distribute updating North

American market information to domestic stakeholders, because North American is one of

the most export market for China.

In addition, the capacity of the ITTO supported Tropical Forest Product Information and

Consultation Center of China has been further enhanced, its resource and information

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base is expanded, its links with stakeholders become closer and closer. All these have laid

a good foundation for future following up research on market of tropical wood products in

China.

5. Assessment and Analysis

i）Project rationale and project identification process

As a follow up of the ITTO project PD 25/96 Rev.2（M）(1997-1998), “China’s Consumption

of Forest Products and Its Demand for Them from the International Tropical Forest

Products Market by the Year 2010”, a good foundation had been laid for developing the

Project. When preparing the Project proposal, we had gone through a very through

process of literature search and surveys to gain insight into the changes in forest products

market over the past decade. At the same time, we consulted different stakeholders to

solicit their contributions to the proposal, including Forest Products Statistic Division of

State Forestry Administration, Customs, National Timber Distribution Association, National

Forest Industry Association, and some enterprises such as Krono (Beijing) Wood Based

Panel/Flooring Co. Ltd. The rationale had been well researched and project activities

formulated with inputs from stakeholders. Some international agencies, such as GFTN of

WWF and TNC had also contributed to the process.

ii）The results of the identification process

From the realized Project performance and outcome, it can be seen that the Project had

been adequately designed through the correct definition of problems, the accurate

identification of project objectives, and the viable choice of implementation strategy. At the

same time, the identification process is closely linked to different stakeholders, this ensure

the Project is able to create impacts to the right target beneficiaries.

iii）Critical differences

According to the project document, the project duration was 24 months. Actual project

duration is 29 months after 5 months extension due to waiting for new annual official data

and the official release of Twelfth Five-Year Development Plan (2011-2015) for forest

sectors.

2011 is called a “plan year” in China because it is the beginning year for the Twelfth

Five-Year Development Plan. Related industries which have impacts on demand and

supply of timber developed their official Five-Year Plans in 2011. These plans were

20

released in the early half of 2012 and provided important references for revising and

polishing the final project reports.

iv）Time and project inputs

As mentioned above, there is five months extension for the project duration. It is better if

the ending date is in the midterm.

During the project implementation, executive agency gave great support on personnel and

equipment, financial resources, data resource etc. Project team members are actively

responsible in their roles and stakeholders actively contribute support to the project when

necessary. ITTO manager and international consultant also provided valuable comments

and ideas during project implementation. Therefore, project inputs are adequate.

v）External influences, assumptions and risks

There was little external influence that had impacted on the successful completion of this

project except for the delay release of official data and plan (refer to section iii). The

executive agency through previous projects in this field have established good working

relationships with government organs (such as the Ministry of Commerce) and its

commercial institutions abroad, the SFA, GAC and National Bureau of Statistics in order to

collect materials. In addition, Center for International Forest Product Trade of SFA which

affiliated to the executive agency provides a broad platform for further cooperation with

different stakeholders. All these can mitigate the risks of failure in collaboration with many

domestic and international institutions.

vi）Project beneficiaries

As mentioned in section 4 above, beneficiaries took active part in project activities. The

research reports of the project are helpful for target beneficiaries to get clear

understanding of the situation and future trend of supply and demand of wood products

market, which will provide bases to the relevant authorities for their decision making, as

well as provide important market information to ITTO member countries. The newsletter

reported relevant information on Chinese wood products market timely. It is an effective

way to ensure effective communication and information exchange among beneficiaries,

especially to establish close relationship with forest industry associations and typical

enterprises to keep abreast of new development on production and demands of forest

products. The following two tables show the main benefits which the project can provide

for direct and indirect beneficiaries through publishing reports and newsletters, holding

21

seminars and workshops, conducting market survey and enterprises investigations etc.

The project’s direct beneficiaries Benefits from the project

China’s policy making forestry and

international authorities

Get references for making wood products

market policies to achieve the balance

between demand and supply

Domestic companies, enterprises and

trading markets engaging in tropical forest

product trade and operation

Get market information for making sound

marketing strategies

Select the right international partners and

expand trade in wood products from

sustainably managed sources

Domestic companies and enterprises

engaging in tropical forest product

production and processing

Learn more on the production, demand and

trade situation of Chinese tropical wood

products market and development trends in

2020, which is helpful to make future

production plan.

Access to market information for making

sound marketing strategies

Get opportunities to participate in decision

making process of developing forest

industry plan

International companies and enterprises

engaging in tropical forest product trade

with China

Learn more on the production, demand and

trade situation of Chinese tropical wood

products market and development trends in

2020


marketing strategies

Find Chinese partners

International companies and enterprises

engaging in tropical forest product

production and processing

Learn more on demand and trade situation

of Chinese tropical wood products market

and development trends in 2020


production strategies

The project’s indirect beneficiaries Benefits from the project

Domestic organizations of government and

industry in charge of forest product

production, trade, supply and circulation

Get references to adjust existing

management

22

Consumers of tropical wood products Know more information on forest products

market

Domestic research and teaching institutions Get more information on China’s forest

products market, it is helpful for future

research and teaching

Government agencies and industrial and

trade organizations in China (eg.

representative office) for ITTO member

countries who engage in the trade of wood

products with China

Get sufficient understanding of supply and

demand of China’s tropical forest product

markets, which provides a basis to follow

when they implement macro management,

formulate policies and make decisions.

Relevant international organizations such

as ITTO, FAO, UNECE, WWF and WB

Get sufficient understanding of supply and

demand of China’s tropical forest product

markets, it is good for their future projects in

China

vii）Project sustainability

The sustainability of the project had been discussed in section 4. Almost all stakeholders

were of the opinion that this Project should be continued. Several government authorities

had express their interest in participating in the following activities since China plays an

increasing important role in the global processing and trading chain of tropical wood

products.

With the new trends of international trade of forest products, such as Lacey Act and EU

timber regulation, Chinese forest industry faces severe challenges from export market. At

the same time, new domestic market structure will be established during the Twelfth

Five-Year Development Plan (2011-2015). It is necessary to continue the research on

forest products market to understand its changes and future trends. Considering that

China has become the international center of manufacture, consumption and trade of

wood products in the world, the depth studies on Chinese forest products market will

greatly contribute to the sustainable development of global wood products market.

6. Lessons Learned

a) Project identification and design matters

Driven by both domestic consumption and export demand, the demand for timber,

especially log and sawnwood, increased sharply in last decades. Up to now China is the

largest log import country. In 2006, before the project was implemented China’s log

imports reached 32.15 million m3, up over 200 percent from 1998. It is estimated that

23

China’s consumption of wood products would increase at annual rate of 15 percent. It is of

significance to forecast demand and supply of wood products in China in foreseeable

future. Therefore, the project identification is of great importance.

In addition, while developing the project proposal, the Executing Agency had completed a

market survey and the results were discussed during a few stakeholders’ meetings. The

views and suggestions gathered from these discussions and consultations were valuable

inputs for developing the proposal. The very thorough project designing and planning

process contributed a lot to the smooth execution of project activities.

b) Operational matters

Collaboration with stakeholders is very important. During implementing the project, the

project team had been keeping close contacts with stakeholders, such as statistical

institutions, forest authorities, industrial associations, manufactures and customs, etc.

Without assistances of these stakeholders market surveys would not have been done

successfully. At the same time, close collaboration with stakeholders also ensure the

timeliness of the execution of project activities and enhance further overall quality and

quantity of the outputs.

The information correspondents from key consumer provinces of tropical wood products

played important role in collecting data and market surveys. The project engaged 12

correspondents who provided project team with information and data on tropical wood

products in China timely during implementation of project. These information is very useful

for editing the newsletter ‘‘China’s Forest Products Information’’ as well as for writing

project reports.

The international consultant played an important role in framework design and finalization

of project technical report. According to project document, an international consultant will

be hire to assistant project team to accomplish project work. In the light of that the United

States is the most important trade partner of China in wood products as well as its mother

tong is English, the project invited an American professor from the Center for International

Trade of Forest Products, University of Washington as the project consultant. The

international consultant is an expert in model who came to China and worked together

with project team for two weeks and worked back in USA for another two weeks to assist

project team to finalize the technical reports. The consultant is very conscientious and

made a due contribution to the project.

Consultations with international organizations were founded to be beneficial to the

planning and execution of this project. TNC, which carried out a RAFT (Responsible Asia

24

Forestry and Trade) project in China, WWF and Rainforest Alliance etc. had provided

constructive comments which directly and indirectly enhanced the overall planning and

execution of this project.

Keeping regular communication with foreign research institute, ITTO, beside the

scheduled project Technical Committee Meetings, has provide crucial guidance to

implement the project and manage all related activities.

The international workshop served as a platform for professionals and stakeholders to

exchange information in the field of wood product markets. The international workshop

entitled Perspective on Global Tropical Wood Products Market: Potential and Challenge

was successfully organized in October, 2011 in Beijing. About Sixty participants from

home and abroad attended the workshop. The participants shared information on global

tropical wood product markets from presentations by participants from international

organizations and different countries.

Documenting the outputs of the project by compiling and publishing newsletters provided

the necessary profile uplifting for the project. These newsletters and posters prepared by

the Executing Agency had been distributed through the Center for International Forest

Product Trade of SFA, as well as during regional and international events such as the Asia

- Pacific Forest Week (Beijing, 2011) and XXIII IUFRO World Congress (Seoul 2010).

7. Conclusions and Recommendations

i）Conclusions and recommendations

The project, PD 480/07 Rev.2 (M) Demand and Supply of Tropical Wood Products in

China Towards 2020, was approved at the 44th ITTO Council session in Yokohama in

2008. The project, which was a follow up to ITTO PD 25/96 Rev.2(M), was aimed at

improving the supply of tropical wood products from sustainably managed forests to

Chinese market and promoting sustainable development of global wood products trade.

The project analyzed the timber situation in China with a focus on tropical timber to

increase market transparency in China. Major project activities and outputs included data

collection, analysis and preparation of interim reports were completed to achieve this

objective. Outreach activities included publishing and disseminating China’s Forest

Products Market Information, and holding seminars and an international workshop. A

newly-created forecasting model for the supply and demand of tropical wood products in

China, and questionnaires for enterprises and consumers were developed for the project.

25

This final report of this project contains information and materials on tropical wood

production, consumption and trade that had been collected for analysis and compilation. A

consulting meeting was held to collect stakeholders’ opinions and suggestions, and

formed part of the analysis. Two separate analysis reports and an investigation report,

including the analysis reports on the productive capacity of Chinese tropical wood

processing enterprises and the end uses of the imported tropical log were finalized and

used to develop this final report.

Through forecasting timber demands from different consuming sectors (end uses), such

as wood-based panel sector, pulp and paper sector, wood furniture sector, infrastructure

construction sector, construction, decorating, repair and remodeling sector, and other

timber consuming sectors, the total demand for industrial timber in China (excluding waste

paper, branch wood, small-diameter logs and processing residues) was estimated to be

601 million m3 for 2020 in log equivalent. Regarding timber supply capacity of domestic

forest resources, the timber supply potential is estimated at 463-473 million m3 in log

equivalent for 2020.

Using the dynamic model, which was established using a comprehensive analysis of

factors affecting tropical timber supply and demand, the development trend of tropical

timber supply and demand was forecasted and analyzed using mathematical software. It

was forecasted that China’s tropical timber supply would be 8.22 million m3 and the

demand will be 20.61 million m3, so the gap would be 12.39 million m3 in 2020.

It is clear that there will still be big gap between timber supply and demand in 2020.

Chapter 6 of final report presents policy recommendations in order to alleviate the

conflicts between supply and demand of tropical timber.

In general, the project activities were conducted successfully and contributed important

findings through effective project design and inputs. The conclusions and

recommendations are summarized as below:

Identification

China is one of the largest countries in production, consumption and trade of tropical

wood products. With the rapid development of national economy and fast increase of

people’s living standards, China’s demands for tropical wood products will continue to

increase and this will certainly affect word timber markets. Therefore it is of great

importance to analyze and forecast future demand and supply of China’s tropical wood

26

products. The project identification is in accordance not only with China’s expectation, but

also with the interests of other parts of the world.

Design

The project design is reasonable. The specific objective of the project is to analyze the

timber situation in China by 2020 with focus on tropical timber to increase market

transparency in China. The main output of the project is a comprehensive report: “Outlook

on demand and supply situation of tropical wood products in China in 2020”, and three

attached reports: “Productive capacity of Chinese tropical wood processing enterprises

and the end uses of the imported tropical logs”, “A survey on consumers’ preference on

tropical wood products in China” and “Conflict issues and policy trends on China’s trading

of tropical wood products”.

The plan of the project is workable; progress of the project is in light of the work plan;

expenses of the project are strictly in accordance with project budget though US dollars

have greatly devaluated during implementation of the project.

Implementation

Implementation is carried out smoothly. Project team members have sufficient knowledge

in different fields and know that team spirit is most important in implementation of project,

therefore, they are in good cooperation, each member clears his (her) own duty and work

hard. Monitoring and evaluation conducted by ITTO and ITTO official and donor

representative participated the monitoring meeting facilitated the implementation.

Organization and management

The project is well organized and managed either in arrangement of field survey and

report writing and discussions or in holding workshop and seminars.

ii）Comment on the potential for replication and/or for scaling up

Since China plays an increasing important role in the global processing and trading chain

of tropical wood products, and the Chinese wood product market has a strong appeal to

outside world, it is suggested that ITTO should continuously support depth studies on

Chinese tropical wood market. Some recommendations for future projects are as

followings:

During the execution of the project it was found that there are still some problems in

statistics on China’s wood products resulting in inconsistent statistics data or the

27

difficulty in getting data on timber production, consumption and trade flows. The

project team suggests that ITTO continues to support China’s improvement of wood

products statistics projects.

With the new trends of international trade of forest products, such as Lacey Act and

EU timber regulation, Chinese forest industry faces severe challenges from export

market. It is necessary to continue to trace its changes and future trends, so as to

understand China forest products market in the background of ever-changing global

market.

With increasing labor force cost in China, some global wood products manufactures

are gradually transferring their wood manufacture in China to other countries such as

Vietnam and Laos. With intense international competition, China wood products

manufacturers have to change their development strategy, it is estimated that new

domestic forest industrial structure will be established during the Twelfth Five-Year

Development Plan (2011-2015), which will result in the great changes in market

structure of forest products in China. Therefore, follow-up study is very much needed.

Responsible for the Report

Name: Hu Yanjie Position held: Project coordinator

Date: August 25, 2012

28

Annex 1: Project Financial Statement

PROJECT FINANCIAL STATEMENT (in US Dollar)

For ITTO funding

Project No. : PD 480/07 Rev.2 (M) Period ending on: 10 July, 2012

Project Title: Demand and Supply of Tropical Wood Products in China towards 2020

Component Original Expenditures To-date Available

Amount Accrued Expended Total Funds

(A) (B) (C) (D) (E)

a/ { B + C } { A - D }

I. Funds managed by Executing Agency

10. Project/Pre-Project Personnel

11. National Experts (long term)

11.1 Project Coordinator

11.2 Forester 1

11.3 Forester 2, etc.

11.4 Administrator

12. Other Personnel

12.1 Assistant 1

12.2 Assistant 2

12.3 Invited correspondents 43 200 0 43 200 43 200 0

13. National Consultant(s) (short term)

13.1 Consultant 1

13.2 Consultant 2

13.3 Consultant 3

14. International Consultant(s)

14.1 Forest Inventory Expert

14.2 Forest Economy Expert 10 000 0 10 000 10 000 0

15. Fellowships and Training

15.1 Training 1 (specify beneficiaries)

15.2 Training 2

15.3 Training 3

19. Component Total: 53 200 0 53 200 53 200 0

20. Sub-contracts

29

21. Sub-contract (Translating) 14 000 0 14 000 14 000 0

22.

Sub-contract (Publishing and

disseminating ) 22 000 0 22 000 22 000 0

29. Component Total: 36 000 0 36 000 36 000 0

30. Travel

31. Daily Subsistence Allowance

31.1 National Expert(s)/Consultant(s)

31.2 International Consultant(s) 5 190 0 5 190 5 190 0

31.3 Others 34 200 0 34 200 34 200 0

32. International Travel



32.3 Others 12 000 0 12 000 12 000 0

33. Local Transport Costs



33.3 Others 10 400 0 10 400 10 400 0

39. Component Total: 66 860 0 65 945 65 945 915

40. Capital Items

41. Premises

42. Land

43. Vehicle(s)

44. Capital Equipment

44.1 Pentax digital camera and lens 3 000 0 2 996 2 996 4

44.2 Sony Projector 3 000 0 3 002 3 002 -2

44.3 Others

49. Component Total: 6 000 0 5 998 5 998 2

50. Consumable Items

51. Raw Materials 2 700 0 2 700 2 700 0

52. Spares

53. Utilities

54. Office Supplies 2 000 0 2 000 2 000 0

59. Component Total: 4 700 0 4 700 4 700 0

60. Miscellaneous

61. Sundry 25 940 0 25 940 25 940 0

30

62. Audit Costs

63. Contingencies 44 300 0 45 217 45 217 -917

69. Component Total: 70 240 0 71 157 71 157 -917

70. National Management Costs

71. Executing Agency Management Costs

72. Focal Point Monitoring

79. Component Total:

Sub-Total: 237 000 0 237 000 237 000 0

80. Project Monitoring & Administration b/

81. ITTO Monitoring and Review b/

82. ITTO Mid-term and Ex-post Evaluation b/

83. ITTO Programme Support Costs b/

83. Donor Monitoring Costs

89. Component Total: b/

90.

Refund of Pre-Project Costs (Pre-Project

Budget) b/

Sub-Total: 26 520 - - - b/

100. GRAND TOTAL: 263 520

Note: Budget Components are those detailed in the Project/Pre-Project Document.

a/ Accrued expenditure: expenditures committed/accrued as at the end of the reporting date, but not yet settled.

b/ Funds retained and accounted for by ITTO - details not available with Executing Agency.

31

PROJECT FINANCIAL STATEMENT (in US Dollar)

For China Counterpart Funding


Project Title: Demand and Supply of Tropical Wood Products in China towards 2020

Component Original Expenditures To-date Available

Amount Accrued Expended Total Funds

(A) (B) (C) (D) (E)

a/ { B + C } { A - D }

I. Funds managed by Executing Agency



11.1 Project Coordinator 3 700 0 3 700 3 700 0

11.2 Forester 1 3 700 0 3 700 3 700 0

11.3 Forester 2 3 700 0 3 700 3 700 0

11.4 Administrator 3 700 0 3 700 3 700 0

12. Other Personnel

12.1 Assistant 1 (Collect materials) 5 680 0 5 680 5 680 0

12.2 Assistant 2 (Translation etc.) 10 000 0 10 000 10 000 0

12.3 Assistant 3 (Publish etc.) 7 000 0 7 000 7 000 0

12.4 Invited correspondents 14 320 0 14 320 14 320 0


13.1 Consultant 1 2 000 0 2 000 2 000 0

13.2 Consultant 2

13.3 Consultant 3



14.2 Forest Economy Expert



15.2 Training 2

15.3 Training 3

19. Component Total: 53 800 0 53 800 53 800 0

20. Sub-contracts

21. Sub-contract (Translating)

32

22.


disseminating ) 19 200 0 19 200 19 200 0

29. Component Total: 19 200 0 19 200 19 200 0

30. Travel



31.2 International Consultant(s)

31.3 Others 2 000 0 2 000 2 000 0




32.3 Others




33.3 Others 4 000 0 4 000 4 000 0

39. Component Total: 6 000 0 6 000 6 000 0

40. Capital Items

41. Premises

42. Land

43. Vehicle(s)


44.1 Computer and Printer 6 000 0 6 000 6 000 0

44.2 Others 4 000 0 4 000 4 000 0

49. Component Total: 10 000 0 10 000 10 000 0


51. Raw Materials 820 0 820 820 0

52. Spares

53. Utilities

54. Office Supplies 500 0 500 500 0

59. Component Total: 1 320 0 1 2320 1 320 0

60. Miscellaneous

61. Sundry 2 000 0 2 000 2 000 0

62. Audit Costs 5 000 0 5 000 5 000 0

63. Contingencies

33

69. Component Total: 7 000 0 7 000 7 000 0


71. Executing Agency Management Costs 50 148 0 50 148 50 148 0


79. Component Total: 50 148 0 50 148 50 148 0

Sub-Total: 147 468 0 147 468 147 468 0

80. Project Monitoring & Administration b/

81. ITTO Monitoring and Review b/

82. ITTO Mid-term and Ex-post Evaluation b/

83. ITTO Programme Support Costs b/

83. Donor Monitoring Costs

89. Component Total: b/

90.

Refund of Pre-Project Costs (Pre-Project

Budget) b/

Sub-Total: - - - b/

100. GRAND TOTAL: 147 468

Note: Budget Components are those detailed in the Project/Pre-Project Document.

a/ Accrued expenditure: expenditures committed/accrued as at the end of the reporting date, but not yet settled.

b/ Funds retained and accounted for by ITTO - details not available with Executing Agency.

34

Annex 2: Project Cash Flow Statement

PROJECT/PRE-PROJECT CASH FLOW STATEMENT


Project Title:Demand and Supply of Tropical Wood Products in China towards 2020

Amount

Component Reference Date

in US$

Local

Currency

A. Funds received from ITTO:

1. First instalment February 5,

2010 79 000 498 490

2. Second Instalment November 26, 2010 79 000 498 490

3. Third instalment

November

30, 2011 79 000 498 490

ETC

.

Total Funds Received: 237 000 1 495 470

B. Expenditures by Executing Agency:



11.1 Project Coordinator

11.2 Forester 1

11.3 Forester 2, etc.

11.4 Administrator

12. Other Personnel

12.1 Assistant 1

12.2 Assistant 2

12.3 Invited correspondents 43 200 272 592


13.1 Consultant 1

13.2 Consultant 2

13.3 Consultant 3



14.2 Forest Economy Expert 10 000 63 100



35

15.2 Training 2

15.3 Training 3

19. Component Total: 53 200 335 692

20. Sub-contracts

21. Sub-contract (Translating) 14 000 88 340

22.


Disseminating) 22 000 138 820


30. Travel



31.2 International Consultant(s) 5 190 327 489

31.3 Others 34 200 215 802




32.3 Others 12 000 75 720




33.3 Others 10 400 65 624


40. Capital Items

41. Premises

42. Land

43. Vehicle(s)


44.1 Pentax digital camera and lens 2 996 18 905

44.2 Sony projector 3 002 18 943

44.3 Others



51. Raw materials 2 700 17 037

52. Spares

53. Utilities

36

54. Office Supplies 2 000 12 620


60. Miscellaneous

61. Sundry 25 940 163 681

62. Audit costs

63. Contingencies 45 217 285 319



71. Executing Agency Management Costs


79. Component Total:

Total Expenditures To-date: 237 000 1 495 470

Remaining Balance of Funds (A-B): 0 0

Notes: (1) Amounts in U.S. dollars are converted using the average rate of exchange when funds

were received by the Executing Agency

(2) Total Expenditures To-date (in local currency) should be the same as amount shown in

Sub-Total of column (C) of the Financial Statement.

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