Tuesday , October 15 2019
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China to use blockchain for cross-border customs clearance

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the Chinese government revealed that it plans to use blockchain in numerous aspects of cross-border trade in Hangzhou. The area, highly active in manufacturing and e-commerce, has seen the positive effects of digital transformation. Among other new initiatives, blockchain will further improve data integrity and transparency. China’s statement focused on the logistics and e-commerce enterprises in Hangzhou, which manage the ... Read More »

Ecuador’s economy shell-shocked by China shrimp ban

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Sales of Ecuadorean shrimp to China were worth over US$1 billion between January and August this year but were suddenly halted in September for sanitary reasons, casting uncertainty over the trade. Almost a month after Chinese authorities imposed a ban in response to apparent outbreaks of diseases known as yellow head and white spot, only one of Ecuador’s five companies ... Read More »

China’s aluminium scrap imports rise 7.4% on-year in Aug

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SHANGHAI, : China’s imports of aluminium scrap rose 7.4% from a year ago and barely changed from a month ago to stand at 141,000 mt in August, the first month after import restrictions on high-grade aluminium scrap took effect, showed data from China Customs. The volume of third quarter’s import quotas for the so-called Category Six aluminium scrap of higher ... Read More »

Trump’s China trade rhetoric turns harsh at UN, says won’t take ‘bad deal’

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Trump-calls-on-nations-to-reject-globalism-embrace-nationalism-daily-timesUS President Donald Trump delivered a stinging rebuke to China’s trade practices on Tuesday at the United Nations General Assembly, saying he would not accept a “bad deal” in US-China trade negotiations. Four days after deputy US and Chinese negotiators held inconclusive talks in Washington, Trump’s remarks were anything but conciliatory and emphasized the need to correct structural economic abuses ... Read More »

China Aug pork imports jump 76% as disease decimates local supply

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BEIJING,: China’s pork imports rose 76% in August from the same month a year earlier, customs data showed on Monday, as the world’s top consumer of the meat stocked up on supplies after a deadly disease decimated its pig herd. China took in 162,935 tonnes of pork last month, data from the General Administration of Customs shows, up 76% from ... Read More »

China trade flow via Hong Kong declines as city set to report worst exports in a decade

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Hong Kong’s trade promotion body said on Monday the city’s exports this year would suffer their largest decline in a decade due to the impact of the ongoing trade war between China and the United States. The Hong Kong Trade Development Council predicted that the city’s exports would shrink 4 per cent by value, the worst performance since 2009 when ... Read More »

China customs says approves some Argentina meat plants for shipments

To go with story 'Pakistan-China-unrest-economy-port,FOCUS' by Jennie MatthewThis photograph taken on February 12, 2013 shows the construction site at Gwadar port in the Arabian Sea. China's acquisition of a strategic port in Pakistan is the latest addition to its drive to secure energy and maritime routes and gives it a potential naval base in the Arabian Sea, unsettling India.   AFP PHOTO/Behram BALOCH

BEIJING : China’s customs said on Monday that it has approved some Argentina meat processing plants for exports, the General Customs Office said in an email to Reuters. The customs office also said it has made checks on meat exporters in the South American country recommended by the Argentinian government lately. It did not say which companies were approved or ... Read More »

China lifts temporary ban on shrimp imports from Omarsa

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China has reversed a decision to suspend imports of shrimp from Ecuador’s Omarsa just one week after imposing a ban. According to a notice by China’s General Administration of Customs, shipments from the company’s Duran, Ecuador-based shrimp unit can now enter China as normal. Suspensions applied to Industrial Pesquera Santa Priscila — Ecuador’s largest shrimp company — and Explasa, its ... Read More »

Customs seizes P53M worth of vegetables smuggled from China

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THE BUREAU of Customs (BoC) seized P53 million worth of smuggled food products from China at the port of Manila yesterday. In a statement, the bureau said it confiscated 16 containers declared to contain fishballs consigned to Shinerise Trading Service. Upon inspection, they were loaded with carrots, onions, broccoli and potatoes. The consignee paid only P2.54 million in duties and ... Read More »

China grants tariff exemptions to 16 types of US goods ahead of trade war talks

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China on Wednesday unveiled a list of 16 types of products that will be exempt from the first round of additional tariffs on US imports as the two sides prepare for their latest trade talks. The exemption will take effect on Tuesday and remain in place until September 16, 2020, the Customs Tariff Commission of the State Council said in ... Read More »

Thai Postal Customs Division finds rare snakes in parcels mailed from China’s Taiwan

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BANGKOK, : The Thai Postal Customs Service Division in Bangkok on Thursday posted on social media that they have intercepted parcels containing 12 small, colourful snakes of various species mailed from China’s Taiwan to Chiang Mai in Northern Thailand. Twelve snakes were hidden inside piggy banks in different parcels, said the Thai Postal Customs Service Division Facebook page. Meanwhile Thai ... Read More »

Changes in China’s Purchasing and Import Trends between 2019 and 2024

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One aspect of the US-China trade war little commented on is the US$179 billion worth of goods that China purchased from the US in 2018. While much of the trade dispute talk has been on the amount that the US has been buying from China (US$557.9 billion) and the size of the trade deficit (US$378.6 billion), the smaller amount – ... Read More »

China to implement additional customs tariffs on US imports worth 75 billion USD

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The State Council Custom Tariff and Tax Committee announced on August 23rd, 2019, their decision to raise the custom tariffs on US import products worth 75 billion USD. At the same time the committee decided to resume the custom tariffs on US cars and spare parts. The US government previously announced on August 15th, 2019, their decision to raise the ... Read More »

China’s July crude oil imports from Malaysia near record: customs

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SINGAPORE/BEIJING : China’s crude oil imports from Malaysia stood near record levels in July, customs data showed, with traders and a tanker-tracking analyst citing oil either transshipped from Venezuela or blended with Venezuelan crude for the unusual growth. Crude imports from Malaysia rose to 1.35 million tonnes last month, more than double from a year earlier, data from China’s General ... Read More »

China threatens ‘countermeasures’ on trade, without saying more

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BEIJING — China is still short on details on how it will respond to new U.S. tariffs on Chinese goods. “If the U.S. obstinately clings to its own way, China has no choice but to take corresponding countermeasures,” Ministry of Commerce Spokesman Gao Feng said Thursday in Mandarin, according to a CNBC translation. “The U.S. should change its wrong actions.” ... Read More »

Traders body CAIT calls for boycott of Chinese products, demands 500% import duty hike

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Traders body CAIT on Sunday gave a call for the boycott of Chinese products and sought high customs duties of up to 500 per cent on these goods as China supported Pakistan’s case on abrogation of Article 370 in Jammu and Kashmir at the UNSC. It said that while presenting and supporting Pakistan’s case on abrogation of Article 370 in ... Read More »

China warned it should not pin its hopes on Russian soybeans plugging supply gap caused by US trade war

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Russian soybean exports to China are likely to remain low for the next few years, an agricultural specialist has warned, suggesting that amount produced will not be enough to provide a real alternative to the United States. China suspended purchases of US soybeans and other farm products this month after US President Donald Trump threatened to impose more tariffs on ... Read More »

China curbs gold imports as trade war heats up

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China has severely restricted imports of gold since May, bullion industry sources with direct knowledge of the matter told Reuters. The move could be aimed at curbing outflows of dollars and bolstering China’s yuan currency as economic growth slows. The world’s second-largest economy has cut shipments by some 300 to 500 tonnes compared with last year. That amount is worth ... Read More »

Russia Warns China It Could Ban Timber Exports Over Illegal Logging

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Russia could ban timber exports to China unless Beijing takes action to help mitigate the effects of illegal logging, a Russian government minister said in an interview published Thursday. Russian authorities this month attributed some of the vast wildfires that have engulfed portions of Siberia in recent weeks to arsonists trying to conceal illegal logging activity. Dmitry Kobylkin, Russia’s minister ... Read More »

Mega-study reveals Asia and China dominate the commercial maritime world

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Ocean shippers, carriers and forwarders have long known it and now the United Nations has proved it with numbers – China and Asia utterly dominate the commercial maritime world. In a massive 14-year study going back to 2006, the UN Conference on Trade and Development (UNCTAD) has ranked 1,249 ports by how well connected they are to other ports around ... Read More »