Friday , February 23 2018
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China

China’s scrap steel exports surged in 2017

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BEIJING:  Exports of scrap steel from China rose sharply during 2017 as domestic demand was hit by curbs on production of steel made from scrap metal, the official Xinhua news agency said on Wednesday, citing China Iron and Steel Association data. China exported 2.2 million tonnes of scrap steel during the year, up from about 1,000 tonnes in 2016, the ... Read More »

China’s sorghum snub could turn U.S. farmers toward corn and soy

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BEIJING: China may have just handed farmers in the U.S. Plains a good reason to maintain or increase the already elevated corn and soybean acreage this spring. DDGs are a byproduct in corn-based ethanol production and are used in livestock feed. Sorghum is also heavily used in feed and competes with DDGs, corn, and other grains. Beijing’s heavy duties on ... Read More »

China would not be the only country hurt by US steel tariffs

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BEIJING: Heavy tariffs and quotas on steel will hurt China, but other countries may well bear the brunt of such measures. The fact is that China does export a lot of steel and aluminum to the United States, but frankly, Canada, Brazil, Mexico, other countries import more steel than does China,” said Max Baucus, former U.S.ambassador to China, which is the world’s top overall steel exporter. On ... Read More »

China biggest trade partner for all Australian states

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BEIJING:  China remains the largest trading partner for all six Australian states, a report said on Monday.  The “Australia’s Trade by State and Territory 2016-17″ report, released by the Department of Foreign Affairs and Trade (DFAT) on Monday, found that Western Australia (WA) remained the biggest exporter among Australia’s states and territories in the 2016-17 financial year. WA, Australia’s biggest ... Read More »

China’s slowing economic growth negative for indonesia

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BEIJING: China’s economic growth is expected to slow to the range of 6.3 – 6.5 percent (y/y) in 2018  the Year of the Dog in Chinese astrology   which would make it the country’s lowest annual GDP growth rate since 1990. Recently, the Deutsche Bank released a report – 2018 China Economic Outlook – in which it states that, after a ... Read More »

China says insurance funds must serve real economy

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BEIJING: Chinese insurance funds must serve the real economy and not be used to provide covert funding to local governments, state news agency Xinhua reported on Saturday (Feb 17), citing a deputy chairman of the insurance regulator.n Chen Wenhui said “fake creativity” for the use of insurance funds must also be banned. There must be long-term, value investment and diversified ... Read More »

China’s cross-border e-commerce trade rose by 80% in 2017

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SHANGHAI: China has seen a rise in cross-border e-commerce trade, with turnover rising 80.6 per cent to 90.24 billion yuan last year over 2016. The average annual growth rate for the past three years is more than 50 per cent, said Yu Guangzhou, head of China’s General Administration of Customs (GAC) recently at the first Global Cross-Border E-commerce Conference in Beijing. ... Read More »

China’s most powerful weapon in Trump trade war may backfire

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BEIJING:  As tensions escalate between the United States and China, one crop is emerging as the most powerful weapon in a potential trade war: the soybean. China is the biggest buyer of American soybeans, picking up about a third of the entire US crop, which it uses largely to feed 400 million or so pigs. Chinese President Xi Jinping’s administration ... Read More »

German, Russian trade picking up sharply

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MOSCOW: Trade between Russia and Germany has increased by about a quarter in the past 12 months. The surge came despite sanctions which the European Union imposed against Moscow for its alleged role in the Ukraine conflict. Following years of slumping trade activity, the exchange of goods and services between Russia and Germany saw a considerable increase in 2017. Customs officials ... Read More »

Customs, Trade minister calls for Chinese investors

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SHANGHAI: Customs and Trade Minister Bülent Tüfenkci called for Chinese investors to invest in Turkey, underlining that both countries have potential advantages and opportunities to offer each other. Paying a visit to China as part of the First Global Cross-Border E-Commerce Conference, Tüfenkci underlined that China is one of the most important economic powers of the region and the world, ... Read More »

China may soften curbs in financial sector to protect economy

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BEIJING: China may be forced to soften efforts to curb risks in its financial sector in order to protect the economy, said an analyst who made her name warning about the dangers of the nation’s credit binge. Despite the crackdown on shadow banking and other areas of financial risk, which got underway last year, China’s economic growth is still being ... Read More »

China imports reindeer from Netherlands to revive species

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BEIJING: China has imported a herd of 115 reindeer from the Netherlands as part of an effort to boost the number of the species in the country, authorities said Tuesday. The reindeer have arrived in Genhe in north China’s Inner Mongolia Autonomous Region and are undergoing a 45-day quarantine period, according to regional quarantine and inspection authorities. After that, they ... Read More »

Children used to smuggle items into mainland China

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BEIJING: The Macao Customs Service and Gongbei Customs recently conducted a joint operation between February 7 and 9 to combat smuggling. Several people were found smuggling items to mainland China using school-aged children and equipment for children such as infant strollers. According to a Customs statement, the Macau and Zhuhai customs authorities deployed a total of 340 people during the joint operation. ... Read More »

China’s iron ore import growth steel export fall perks pricing

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BEIJING: China’s latest trade data may be underscoring why iron ore and coking coal prices are currently supported well above longer-term analyst price estimates, as steel industry measures inject some optimism for miners. China, which imported a record 1.07 billion mt of iron ore in 2017, in January hauled in 100 million mt, up 9.1% on a year earlier. On ... Read More »

172 people arrested for online gun sales in China

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BEIJING: Police in China have arrested 172 people and busted 12 gangs allegedly involved in online sale of guns in eight provincial regions, the government said on Friday. The police has also busted 13 gun manufacturing dens and confiscated 366 firearms, including air guns, pistols and shotguns, as well as over 20,000 accessories, state run Xinhua news agency said quoting ... Read More »

China’s trade surplus shrinks drastically as imports surge

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BEIJING: China’s finished steel exports in January plunged by 18% month on month and 37% on the year to 4.65 million mt, the lowest since March 2013, preliminary data released by the General Administration of Customs showed Thursday. Deng Haiqing, chief economist at Jiuzhou Securities, stated in an interview with Cainxin that the January figures have drastically beaten market expectations. ... Read More »

China exports hold up as commodities base effects boost imports

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BEIJING: China’s overseas shipments held up despite trade tensions with the US, while import growth surged reflecting calendar effects and higher commodity prices.  Exports rose 11.1% in January in dollar terms from a year earlier while imports increased 36.9%, leaving a US$20.34 billion (RM79.94 billion) trade surplus, the customs administration said yesterday. Economists said the data may be distorted by ... Read More »

China exports hold up as commodities base effects boost imports

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BEIJING: China’s overseas shipments held up despite trade tensions with the US, while import growth surged reflecting calendar effects and higher commodity prices. Exports rose 11.1% in January in dollar terms from a year earlier while imports increased 36.9%, leaving a $20.34bn trade surplus, the customs administration said on Thursday. Economists said the data may be distorted by a later ... Read More »

Medicine imports exports rise as supply side reform succeeds

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BEIJING: Chinese medicine and health products makers are keeping a foothold in developed countries as they foresee sustainable growth momentum in mature markets. Last year, the total value of medicines and health products exported from China reached $60.7 billion, up 9.44 percent year-on-year, according to a report released this week by the China Chamber of Commerce for Import and Export ... Read More »

China’s imports surge 37% in January exports jump 11%

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BEIJING: A Reuters economist poll predicted that January imports had grown 9.8 percent from a year ago. They also expected export growth to come in at 9.6 percent. Long Lunar New Year public holidays start next week in China, so the trade data may be skewed due to seasonal factors such as stockpiling. Nonetheless, even with the festive season, the ... Read More »