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Alibaba’s Jack Ma financial strength increases by 173% to $29.2 billion

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CHINA: Alibaba founder and executive chairman Jack Ma is this year’s biggest financial gainer as the billionaire entrepreneur’s fortune has fatten by a immense USD 18.5 billion this year to USD 29.2 billion, a report said here the other day. According to private wealth consultancy, Wealth-X, the former English teacher-turned billionaire entrepreneur is the biggest gainer of this year as ... Read More »

Canadian beef export to China reaches $29.3m

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BEIJING: Canadian beef is entering the retail market of China’s first tier cities and poised to be available in more regions. On Tuesday in Beijing, the Canada Beef International Institute promoted the country’s beef products with a cooking class for local media and released market-performance figures for Canadian beef in China as of October. According to China Customs, Canadian beef ... Read More »

Swiss customs returns ancient 200BC statue to China

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LONDON: A terracotta statue dating back to about 200 BC has been returned to the Chinese authorities after being intercepted by customs in Switzerland, the Swiss government said on Friday. The statue from the Han dynasty measures about 47 centimetres (18.5 inches) and is thought to be of a servant, the federal department of culture said in a statement.It was ... Read More »

China customs seizes 3,400 powder cakes

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BEIJING: Officers of China Customs District said they had seized 3,400 powder cakes that might have infringed upon the trade mark rights held by “Dove”,“LACOSTE”,“LOREAL” and“NIVEA”. The case involved a value of RMB 17,000. Read More »

90,000 smuggled cigarettes found in truck

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BEIJING: Officers of Quanhe Office stationed by Hunchun Customs House (affiliated to Changchun Customs District) found 90,000 smokes of cigarettes hidden in an inward truck a few days ago. Read More »

China customs seizes 72,000 Ephedrine pills

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HONG KONG: Officers of Shenzhen Customs District said they had seized 72,000 Ephedrine pills which were illegally brought in by 11 Hong Kong passengers entered through Luohu Port. The pills were with a gross weight of 14.4 kilograms. Ephedrine is an important substance for Ice making. Read More »

Chinese Minister Yu Guangzhou visits Italian Customs agency, signs agreements of bilateral cooperation

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BEIJING: Minister Yu Guangzhou paid a visit to Italian Customs and Monopolies Agency and held a bilateral meeting with Mr. Vieri Ceriani , Ministerial Adviser of Ministry of Economy and Finance of Italy, and Mr. Giuseppe Peleggi, Director General of Italian Customs and Monopolies Agency, and signed agreements of bilateral cooperation. The two sides highly appreciated the outcome of China-Italy ... Read More »

Chinese minister Yu holds bilateral meeting with head of Italian Finance Police

Yu Guangzhou

HONG KONG: Minister Yu Guangzhou paid a visit to the headquarters of the Italian Finance Police and held a bilateral meeting with Lieutenant General Saverio Capolupo, Chief Commander of Italian Finance Police in Rome. The two sides reviewed the bilateral cooperation in law enforcement and reached consensus in six aspects on further strengthening the cooperation. Firstly, to crack down the ... Read More »

Chinese man pleads guilty in sensor smuggling attempt

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ALBUQUERQUE: A second Chinese national in New Mexico trying to smuggle sensors made by the US army has pleaded guilty to conspiracy, here the other day. Wentong Cai, 30, pleaded guilty to conspiracy to violate the Arms Export Control Act and the International Traffic in Arms Regulations. In his plea agreement, Wentong Cai admitted that from March 2012 to December ... Read More »

China looks to widen investment up to $3b in Central, Eastern Europe

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BELGRADE:  China’s government official said, it would create a new investment fund of $3 billion (2.4 billion euros) targeting central and Eastern Europe, seeking to strengthen its foothold in the region as a door to the wider European Union. China sees central and eastern Europe as a potentially lucrative market and bridgehead to the wider EU, drawn by relatively low ... Read More »

12 suspected Indians involved in smuggling drugs from China sent on trial

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CHENNAI: Twelve persons caught smuggling drugs without any registration certificate and import license from Central Drugs Standard Control Organization, Chennai were sent on trial to Judicial Custody for 15 days. CBI sources told Express that of the 12 arrested, four are importers of the drug from China while the eight are custom house agents. They include Ramlal Jain, proprietor of ... Read More »

Regional Container Lines drops Manila Port from China, Vietnam, Thailand service

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BEIJING: Manila Port service has been dropped by Regional Container Lines (RCL) due to the immense congestion on the port. This service was running China to Thailand via Vietnam, which will now supply Philippines capital directly from Leam Chabang. RCL’s RBC4 service from 20 December will call Qingdao – Shanghai – Cat Lai – Laem Chabang on a 21-day rotation ... Read More »

Vice Minister SUN Yibiao meets Kazakhstan official, ports along China-Kazakhstan border discussed

Sun Yibiao

HONG KONG: Vice Minister SUN Yibiao met with Mr. G. Amrin, Vice Chairman of the Commission of National Revenue of Ministry of Finance of the Republic of Kazakhstan in Yining, the Xinjiang Uygur Autonomous Region. On behalf of Minister YU Guangzhou, Vice Minister SUN expressed warm welcome to Vice Chairman Amrin. Vice Chairman Amrin shared his research on the ports ... Read More »

47 endangered animal skins seized by China customs

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BEIJING: Officers of Customs Office at the Airport stationed by Wuhan Customs District said they had seized 47 skins of red fox, mink and raccoon in an express parcel in mail control a few days ago. The express parcel, which was sent from Finland, was with the declaration name of “other animal skins” and a declared value of EUR 141, ... Read More »

China customs destroys 525kg noxious rice

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BEIJING: China customs held an activity to destroy in an environmentally-friendly way the 525 kilograms of noxious rice the Customs administration has confiscated a few days ago. Customs officers said the consignment of rice was hidden in some other goods and false-declared by the suspect to the Customs. Officers found the rice when exercising control over the goods and found ... Read More »

China customs clears first shipment of imported complete cars

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BEIJING: Two imported cars which were ferried back by the 5th train running along the China-Europe rail route arrived at Zhengzhou railway port on November 18 and were cleared on the same day. This is the first shipment of imported complete cars that Zhengzhou Customs District has released since the approval of the opening of Zhengzhou port for complete car import ... Read More »

China customs seizes 1,120 ivory tusks

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HONG KONG: Ivory tusks smuggled in boxes are seen at Hong Kong Customs office after they were seized from a container at Kwai Chung Container Terminal a day earlier. Through intelligence exchange with Chinese Customs, Hong Kong Customs seized a total of 1,120 ivory tusks, 13 rhino horns and five pieces of leopard skin, weighing about 2,266 kg (4982 pounds), ... Read More »

China to adjust import, export taxes from Jan 2015

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BEIJING:  China will adjust its import and export taxes from Jan. 1 as part of a larger effort to re-order trade to foster economic growth, To refine the mix of Chinese imports, China will levy provisional taxes at a rate even lower than that reserved for countries in the Most Favoured Nation category, a low-rate status given to particularly valued ... Read More »

China customs seizes $10 million cocaine at Hong Kong airport

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BEIJING: China customs seized about nine kg of suspected cocaine worth about $10 million at Hong Kong International Airport today (December 8) and arrested two incoming passengers travelling together. The arrested persons, a 21-year-old man who claimed to be unemployed and a 20-year-old woman who claimed to be a cashier, arrived at Hong Kong from São Paulo, Brazil via Abu ... Read More »

Investment in European energy market: China to pay £100mn for 80% stake in 3 UK wind farms

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BEIJING: The state owned China General Nuclear Corporation (CGN) has decided to enter in European energy market and plans to buy a stake in 3 UK wind farms from EDF for £100 million, its first outside of China, CGN official announced here the other day. China’s CCGN will take an 80 percent stake in the wind farms, and EDF will ... Read More »