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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 »

China plans to drop all duties at Shanghai Free Trade Zone: sources

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SINGAPORE : China is planning a pilot project to drop all duties and ease procedures at its Shanghai Free Trade Zone, three people familiar with the matter said, as Beijing looks to position itself as a leader in promoting free trade amid its grinding trade war with Washington. The plan, which could be announced as soon as this year, was ... Read More »

Trump’s China tariffs – Paid by U.S. importers, not by China

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CHICAGO : With U.S. President Donald Trump’s announcement on Thursday of tariffs on another $300 billion of Chinese imports, nearly all goods from China will be subject to import taxes, and Trump says they generate billions of dollars in revenues for the U.S. Treasury from China. But that is not how tariffs work. China’s government and companies in China do ... Read More »

China’s customs approves Russian barley imports

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Beijing has approved Russian barley to enter the Chinese market, the Chinese customs office said on Thursday. This new approval, which comes several days after the approval of wheat and soybean imports, shows closer collaboration in the agricultural sector between the two countries amid a bruising China-US trade war, experts said. According to a statement published by the General Administration ... Read More »

Iran’s Oil Exports To China Decline Further In June

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The latest figures issued by China’s customs authorities show Iranian oil imports declined further in June reaching a low of 208,205 barrels per day, down 60 percent from June 2018. Iran’s oil exports had also declined in May, when the United States phased out limited exemptions it had offered to a handful of countries, including China, for six months. The ... Read More »

China’s Still Taking Iran Oil Weeks After U.S. Toughens Sanction

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China’s still importing oil from Iran weeks after the U.S. imposed sanctions aimed at halting sales of crude from the Persian Gulf nation. Official customs data on Friday showed China imported 855,638 tons in June, the equivalent of about 209,000 barrels a day. While that’s less than in May and the lowest since mid-2010, the data adds to speculation that ... Read More »

China approves wheat imports from Russia’s Kurgan region : customs

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BEIJING: China has approved wheat imports from the Russian region of Kurgan, the Chinese customs office said on Friday. Beijing is embroiled in a trade war with the United States, a major supplier of the grain to China until the Chinese authorities imposed retaliatory tariffs on US cargoes. China also approved soybean imports from all parts of Russia, the General ... Read More »

China, Singapore Launch Trade Platform For Finance And Tech Sectors

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The China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity on Thursday launched a cold chain product trade platform that would seek to facilitate trade between the two sides in various sectors including finance and technology. According to Xinhua, the inter-governmental program covers financial segments, information technology, communications, transportation, logistics projects, and also the aviation industry. “The platform will connect demands from ... Read More »

China, Belarus implement AEO customs agreement

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BEIJING,: The agreement on mutual Authorized Economic Operator (AEO) status signed between China and Belarus went into effect Wednesday, offering easier customs clearance for exporters from both countries, according to the General Administration of Customs (GAC). Under the agreement, companies that obtain the AEO status in the two countries will enjoy simplified customs procedures, including reduced examination and prioritized clearance, ... Read More »

Dubai-China trade at AED 36 billion in 1Q 2019

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Dubai-China bilateral trade hit Dh139 billion in 2018, and was valued at Dh36 billion over the first quarter of 2019, according to Dubai Customs. Notably, telecoms, phones, PCs, aluminium, gold, automobiles, and engines topped the list of most traded commodities between Dubai and China. In a statement released by Dubai Customs in conjunction with the milestone visit of His Highness ... Read More »

Chinese companies looking to buy US farm products: Xinhua

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Some Chinese companies are seeking new purchases of agricultural products from the United States, China’s official Xinhua news agency said, citing authorities, as Beijing and Washington look for ways to end a protracted trade war. US President Donald Trump and Chinese President Xi Jinping agreed at last month’s G20 summit in Osaka to restart trade talks that stalled in May. ... Read More »

Two Chinese ports halt customs clearances for coal imports

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BEIJING : Chinese customs is no longer permitting coal cargoes to enter the country at the ports of Jingtang and Caofeidian, said three coal traders, who were told by customs officials of the halt on Tuesday. Customs officials at the port of Jingtang, one of China’s biggest coking coal import points, and the neighboring port of Caofeidian said they would ... Read More »

China’s commodity demand holds up, with copper the exception

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LAUNCESTON: One of the prevailing China narratives in commodity markets is that the trade dispute with the United States is weakening demand in the world’s biggest importer of natural resources. The problem is the numbers tell a somewhat different story. While the overall economy may be feeling strain, with gross domestic product growth slipping to 6.2% in the second quarter ... Read More »

Chinese investors urged to cash in on Pakistan’s ‘business-friendly policies’

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ISLAMABAD: Planning, Development & Reform Minister Makhdoom Khusro Bakhtiar, while talking to a Chinese business delegation in Islamabad on Thursday, said that the incumbent government was focusing on the promotion of export-led industry and import substitution for sustained economic growth. The Chinese delegation comprised of chief executives and general managers of various organisations belonging to the western Chinese city of ... Read More »

China says US trade issues are ‘definitely’ resolvable

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China said on Thursday that the thorny trade issues plaguing relations with the United States are resolvable after fractious talks between the economic giants were kickstarted by the Trump-Xi meeting in Japan. Washington and Beijing have hit each other with punitive tariffs covering more than $360 billion in two-way trade, damaging manufacturers on both sides of the Pacific. US President ... Read More »

US announces anti-subsidy duties on steel from Mexico and China

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Sri Lanka could help Chinese manufacturers offset trade war impact

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Sri Lanka is wooing Chinese manufacturers, urging them to make use of its preferential duty-free treatment by the US and Europe as a way to offset the growing tariff pressure of the trade war. The country’s development strategies minister, Malik Samarawickrama, was in Beijing on Wednesday as part of an investment forum at the Sri Lankan embassy attended by dozens ... Read More »

China turns censorship crackdown efforts to podcasts and audiobooks

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China has begun a crackdown on podcasts and audiobooks for the first time as it aims to clean up the pornographic content found in them. Having previously concentrated its efforts on cleaning up social media platforms, the Cyberspace Administration of China (CAC) has announced that it has taken 26 audio apps to task for failing to keep “public order and ... Read More »