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China policy bank reports over $100B loans to SCO countries

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BEIJING :China Development Bank (CDB), a major policy bank, has so far loaned more than 100 billion U.S. dollars to members of the Shanghai Cooperation Organization (SCO), data from the bank showed. The CDB currently has 41.34 billion U.S. dollars and 16.37 billion yuan (about 2.56 billion U.S. dollars) in loan balances to SCO member countries, the Chinese media quoted ... Read More »

China-US trade war is making American soybean farmers anxious

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China: When China tentatively agreed last month to increase its imports of US goods, American soybean farmers sighed with relief. They had been holding their breath since April when Beijing, in response to the Trump administration’s tariffs on steel and aluminium in March, first proposed retaliatory duties on industrial and agricultural products, including soybeans. The threat caused the price of ... Read More »

US-China relations deteriorating fast over flashpoint issues

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China’s expanding efforts to impose its will on neighbours through diplomatic, commercial and military pressure – the so-called Xi doctrine – have drawn the sharpest riposte to date from the Trump administration, with Taiwan once again the main flashpoint in a sea of accelerating Sino-American rivalry. Following recent verbal clashes over US “freedom of navigation” patrols in disputed South China ... Read More »

China’s logistics activity increases in may

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BEIJING :China’s logistics activity increased in May as the economy continued to show signs of firming, industry data showed Monday. The logistics performance index for May came in at 56.1 percent, up from 54.6 percent in April, according to the China Federation of Logistics and Purchasing. A reading above 50 percent indicates expansion while a reading below reflects contraction. “The ... Read More »

China boosts financial support for small firms, green economy with MLF collateral rules

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BEIJING :China’s central bank said Friday that it has decided to moderately expand the scope of securities as collateral for a lending tool in an effort to boost support for small enterprises and green economy sectors. The People’s Bank of China (PBOC) said during the medium-term lending facility (MLF) operations, it will admit more types of securities as collateral, including ... Read More »

US commerce secretary wilbur ross in China for talks to avoid trade war

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Beijing :US Commerce Secretary Wilbur Ross arrived in Beijing Saturday for talks aiming to ease tensions over tariffs that have heightened fears of a trade war between the world’s two biggest economies, officials and Chinese state media said. Despite announcing a truce earlier this month, the United States is working to finalise planned sanctions on Beijing — including restrictions on ... Read More »

SCO business forum to be held on june 9-10 in Qingdao

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BEIJING :In a bid to promote economic and cultural exchange among the Shanghai Cooperation Organization (SCO)’s member statesand improve regional cooperation and development, the SCO Business Forum will be held during the summit. The 18th Shanghai Cooperation Organization Summit will be held in Qingdao, East China’s Shandong province, on June 9-10. Officials from the SCO Secretariat and member states, including ... Read More »

China lowers tariffs, rejects US trade war escalation

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Beijing:China said Thursday it wanted to avoid an escalation of trade tensions with the United States, as the two sides held new talks and Beijing decided to lower some tariffs. The overture came two days after the White House said its planned trade sanctions against China were still in the works despite the announcement of a truce following a previous ... Read More »

Global electric car sales up over 50 percent in 2017

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China:Electric car sales around the world rose by 54 percent in 2017, taking global stock across the three-million threshold, the International Energy Agency said . In China, the world’s biggest market for electric vehicles, sales also grew by about half — but their market share remained small at 2.2 percent. In Norway electric vehicles have by far the world’s highest ... Read More »

Foxconn unit to raise $4.2b in China IPO

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Shanghai :A unit of electronics manufacturing giant Foxconn said it will launch an initial public offering in China on Thursday aimed at raising $4.2 billion, in the biggest mainland debut in nearly three years. Taiwan’s Foxconn Industrial Internet, which makes electronic devices, cloud service equipment and industrial robots, will float 10 percent of its total shares, according to a prospectus ... Read More »

Chinese president Xi Jinping calls for international cooperation on big data industry

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BEIJING:Chinese President Xi Jinping Saturday called for enhanced international exchange and cooperation on the development of big data industry. He made the remarks in a congratulatory letter to the China International Big Data Industry Expo 2018, which opened Saturday in Guiyang, capital city of southwest China’s Guizhou Province, Xinhua news agency reported. Read More »

Angela Merkel, chinese premier defend Iran deal, free trade

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Beijing:German Chancellor Angela Merkel and Chinese Premier Li Keqiang defended the Iran nuclear deal on Thursday, with Li hinting that terminating the pact would complicate negotiations with North Korea. Merkel and Li showed a united front on Iran and free trade — two issues that have seen high-profile interventions by US President Donald Trump — during their meeting at the ... Read More »

US commerce chief to hold trade talks in China Next Week

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Beijing:US Commerce Secretary Wilbur Ross will visit Beijing next week to resume talks with Chinese officials, state media said Friday, as the two sides seek to avoid a trade war. Ross’s June 2-4 visit was confirmed in a phone call with China’s pointman on economic matters, Vice Premier Liu He, on Friday, the official Xinhua news agency reported. Liu visited ... Read More »

EWTP Ecosystem Fund Established To Promote Innovation And Quality Consumption

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HONG KONG: eWTP Ecosystem Fund (“the eWTP Fund”), established to enable enterprises that promote innovation and quality consumption, was unveiled in Hong Kong today. The eWTP Fund counts Alibaba Group and Ant Financial among its anchor investors, and Yu Yongfu, a member of Alibaba Partnership, has been appointed founding partner and chairman of the eWTP Fund. As the initial fund ... Read More »

China to cut auto tariffs on July 1 as trade tensions ease

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Beijing,:China announced Tuesday that it would cut tariffs on auto imports from July 1, the latest sign of a thaw in trade frictions with the United States. Beijing has announced a flurry of trade liberalisations and reforms since coming under fire from the Trump administration and some European politicians for its protectionist policies. The planned reduction in import duties from ... Read More »

Chancellor Angela Merkel Seeks United Front With China Amid Trump Trade Fears

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Berlin,:Chancellor Angela Merkel visits China on Thursday, seeking to close ranks with the world’s biggest exporting nation as US President Donald Trump shakes up explosive issues from trade to Iran’s nuclear deal. Finding a common strategy to ward off a trade war and keep markets open will be Merkel’s priority when she meets with President Xi Jinping, as Washington brandishes ... Read More »

Chinese stocks rise to 5-week high as Mnuchin says trade war ‘on hold’

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China agrees to buy more US agricultural and energy products to help narrow what has become a record bilateral trade deficit, the White House said in a joint statement with China following two days of negotiations Hong Kong stocks rose across the board on Monday after US Treasury Secretary Steven Mnuchin said the US trade war with China was now ... Read More »

China, Pakistan Make Great Headway Giving Banking Support To CPEC

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Beijing : China and pakistan have made a great headway giving banking support to their growing socio-economic partnership, says a report published by the Middle East North Africa Financial Network (MENAFN). After establishing its first branch in Karachi last November, the Bank of China formally launched a clearing and settlement mechanism of Chinese yuan. Having received clearance from the State ... Read More »

China’s CNPC ready to take over Iran project if Total leaves

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China’s state-owned energy major CNPC is ready to take over Total’s stake in the giant Iranian South Pars gas project if the French company leaves amid newly announced U.S. sanctions, industry sources said, Reuters reports. The United States this week said it would impose new sanctions against major oil and gas producer Iran after abandoning an agreement reached in late ... Read More »

Australia’s Treasury Wine Estates falls on China customs delays

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China : Treasury Wine Estates tumbled as much as 13 per cent on Thursday after the winemaker said it was experiencing delays at Chinese customs for some of its Australian products. The owner of brands Penfolds and Wolf Blass said it was seeking a “greater understanding of new and additional verification requirements which have been applied since April 2018, and seemingly ... Read More »