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The ASEAN-Hong Kong China Free Trade Agreement and Vietnam

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The ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA) came into effect on June 11 for Vietnam, Laos, Myanmar, Singapore, and Thailand. The remaining ASEAN member states will complete the ratification process later this year. The deal was first signed and agreed in November 2017 to increase economic cooperation, reduce taxes, and increase investment between regional markets and Hong Kong. Analysts ... Read More »

China’s Economic Expansion is a Shot Across the Bow at Russia

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In Ancient Rome, the arrival of a conquering general from the front meant either a rapid change of political scenery or as much pomp and circumstance as could be drawn from its seven hills. With the lengths to which the Italian government went through to welcome Chinese President Xi Jinping last March to inaugurate Italy’s joining of China’s Belt and ... Read More »

China’s Fuzhou port tightens coal import restrictions: sources

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Singapore : Customs officials for the Fuzhou port in China’s southeastern Fujian region said only coal end-users such as local steel mills or power plants will be able to obtain customs clearance for imported coal, according to market sources Thursday. Hence, coal imports without the backing of local end-users could be refused customs clearance at Fuzhou, market sources said. “This ... Read More »

Who pays Trump’s tariffs, China or U.S. customers and companies?

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U.S. President Donald Trump says China pays the tariffs he has imposed on $250 billion of Chinese exports to the United States. But that is not how tariffs work. China’s government and companies in China do not pay U.S. tariffs directly. Tariffs are a tax on imports and are paid by U.S.-registered firms to U.S. customs when goods enter the ... Read More »

China to suspend imports from Canadian pork company

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China will halt imports from a Canadian company after food safety issues were detected in one batch of pork, the Xinhua state news agency reported Tuesday, a move likely to fuel speculation China is retaliating for the arrest in Canada of a Chinese tech executive. After the arrest of Huawei chief financial officer Meng Wanzhou in December at the request ... Read More »

Samsung to close its last smartphone factory in China

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In its heyday, Samsung’s complex in Huizhou in the northern part of the Pearl River Delta was the South Korean company’s largest Chinese factory, producing one in five smartphones sold in China in 2011. Now, the small shops and suppliers that surround the vast complex – the focal point for the community for 27 years – have fallen silent. A ... Read More »

US Customs supervisor had ‘highly suspicious’ contact with Chinese officials, prosecutors say

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Los Angeles : When federal agents raided the Southern California home of US Customs and Border Protection supervisor Wei “George” Xu in February, they seized an arsenal of more than 250 weapons, including nearly three dozen illegal machine guns, according to court records. “Weapons of war,” a prosecutor would later call them. Xu, 56, was arrested and charged with dealing ... Read More »

Proposed extradition bill could get Hong Kong entangled in the US-China tussle, research firm says

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Hong Kong runs the risk of losing its special customs status with the U.S. if its autonomy is seen to be eroded with the contentious extradition bill, according to one analyst. There’s much at stake for Hong Kong, a special administrative region in China, with the risk that it is increasingly perceived as a “weak link” amid the U.S-China trade ... Read More »

Analysis: How strong is the Russian-Chinese alliance?

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Russian-Chinese relations have been characterised by increasing intensity of activities at all levels. However, Russia’s recent turn to the east has not forced China to turn away from the West in quite the same way. For China, Russia remains a minor partner, whose interests China does not intend to take into account. In search of a new ally After the ... Read More »

China May copper imports fall 10.9% on prior month: customs

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BEIJING : China’s unwrought copper imports fell 10.9% from the previous month to 361,000 tonnes in May, according to official customs data, in a bearish sign for economic growth in the world’s top consumer of the metal. Arrivals of unwrought copper, including anode, refined and semi-finished copper products were down from 405,000 tonnes in April and down 23.2% from 470,000 ... Read More »

China says its May trade surplus was $41.65 billion, significantly more than expected

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China said on Monday its overall trade surplus was $41.65 billion last month, significantly more than expected as the trade impasse between Washington and Beijing drags on. Economists polled by Reuters had expected China to post an overall trade surplus of $20.5 billion in May. The larger trade surplus came as the country’s dollar-denominated exports surprisingly increased last month, while ... Read More »

China May copper imports fall 10.9% on prior month: customs

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BEIJING : China’s unwrought copper imports fell 10.9% from the previous month to 361,000 tonnes in May, according to official customs data, in a bearish sign for economic growth in the world’s top consumer of the metal. Arrivals of unwrought copper, including anode, refined and semi-finished copper products were down from 405,000 tonnes in April and down 23.2% from 470,000 ... Read More »

Chinese-Russian Trade Up 4% In January-May 2019 Reaching $42.5Bln : Chinese Customs

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BEIJING : Trade between China and Russia totaled almost $42.5 billion in the first five months of 2019, marking a 4 percent increase year-on-year, data published by the Chinese General Administration of Customs showed on Monday. Chinese exports to Russia contracted by 0.7 percent in January-May compared to 2018, falling to $18.2 billion. At the same time, China imported $24.3 ... Read More »

Shanghai customs send back over 7,000 tonnes of waste in May

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SHANGHAI, : Customs in eastern China’s Shanghai ordered the return of 7,056 tonnes of suspected smuggled solid waste to where they originated in May. Most of the waste was undeclared and overdue waste, said the city’s customs Monday. For example, 103 tonnes of old cardboard from Australia that was sent back in five containers in May had been piled high ... Read More »

China clears import of frozen durian from Malaysia

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FROZEN whole durian from Malaysia has been cleared for import into China, reported China Press. The daily cited a statement issued by the General Administration of Customs of the People’s Republic of China (GACC) on May 30 which said that the imported fruits must comply with specific guidelines and standards. Among the requirements are that durian pulps must be kept ... Read More »

IF CHINA REALLY WANTS TO RETALIATE, IT WILL TARGET APPLE

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Apple has a Huawei problem. Of the myriad issues raised by the evolving and intensifying US-China trade Cold War, the knock-on effects on Apple have been perhaps least appreciated. And not just Apple, of course, but a slew of American companies that have both shifted production to China over the past two decades and, more vitally, tapped into Chinese middle-class ... Read More »

China’s Customs rejects steel scrap from South Korea

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East China’s Ningbo Customs District refused to clear nearly 200 tonnes of steel scrap materials shipped from South Korea – returning the scrap to its despatch point – as over a half of the weight of the consignment was actually soil rather than scrap, according to the recent official media release of the General Administration of Customs China (GACC). Ningbo ... Read More »

China’s April imports of US coking coal rise five-fold

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China’s imports of US coking coal rose more than five times in April from a month earlier, customs data showed, on traders’ earlier bets that trade tensions between Beijing and Washington were easing. Shipments of coking coal from the United States rose to 308,789 tonnes last month, up from 60,585 tonnes in March, according to data released by the General ... Read More »

King Abdul Aziz Port receives largest container ship in Saudi history

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After making history at Port Khalifa in Abu Dhabi yesterday, Cosco Shipping’s Solar container ship has docked in Dammam’s King Abdul Aziz Port, becoming the largest container ship ever to make port in Saudi Arabia. Solar is 400 meters long, 59 meters wide and has a draft of 16 meters, but what makes it a record-breaker is its immense cargo ... Read More »

China Chugs Iranian Oil Ahead of U.S. Sanctions Return

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China’s inflow of Iranian crude oil surged to a five-year high in April as the world’s biggest oil importer engorged itself ahead of the return of U.S. sanctions against the Middle Eastern country earlier this month. Oil imports from Iran hit 3.24 million tons for the month of April, up 41% year-on-year, according to data from China’s General Administration of ... Read More »