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Chinese imports edge out domestic solar players

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BEIJING: The National Solar Mission may have set a target of 20 million m2 (metre square) solar thermal capacity with ‘Make in India’ panels, but the government’s proposed incentives package has left this segment of the domestic solar industry out in the cold even though it is getting swamped by cheaper Chinese imports. The renewable energy ministry has proposed a ... Read More »

China boosts liquidity via reverse repos

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BEIJING: China’s central bank on Wednesday pumped 200 billion yuan (about 30.77 billion U.S. dollars) into the financial system through open market operations. The operations included 100 billion yuan of seven-day reverse repos, 90 billion yuan of 14-day reverse repos and 10 billion yuan of 63-day reverse repos, the People’s Bank of China said on its website. The interest rates ... Read More »

China to step up crackdown on cryptocurrency trading

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BEIJING: China is stepping up its clampdown on cryptocurrency trading, and is now targeting online platforms and mobile apps that offer exchange-like services, Bloomberg reports, citing people familiar with the matter. Authorities said alternative venues have cropped up since it banned the trading of bitcoin and other virtual currencies last year. They now want to block domestic access to homegrown ... Read More »

China fourth quarter GDP growth to slow on debt pollution clampdown

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BEIJING:  China’s economic growth is expected to have slowed slightly in the fourth quarter from the previous quarter, a Reuters poll showed, as the government extended a crackdown on debt risks and factory pollution. Policymakers in the world’s second largest economy have been trying to contain financial risks and slow an explosive build-up in debt without stunting economic growth. The ... Read More »

China central bank injects 398 billion yuan via MLF

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BEIJING: China’s central bank lent 398 billion yuan ($61.76 billion) to financial institutions on Monday via its 1-year medium-term lending facility (MLF), citing a “relatively large” decrease in banking system liquidity, it said in a statement. With the present peak of tax payments, financial institutions’ reserve requirements and the maturing of repos and MLF loans, overall banking system liquidity has ... Read More »

China 2017 iron ore imports hit record high

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BEIJING: Chinese iron ore imports fell 11 percent in December from the previous month, but full-year shipments were at a record high, customs data showed on Friday, as the world’s top consumer bought more imported raw material to ramp up steel output. Arrivals for December came in at about 84.3 million tonnes, versus 94.54 million tonnes in November, according to ... Read More »

China surging exports widen trade surplus with U.S.

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BEIJING: Exports to the United States surged 15% in 2017, helping push the country’s huge trade surplus with the U.S. to a new record, according to Chinese government data released Friday. The U.S. government hasn’t announced its own trade figures for the whole of 2017, but experts say they are also likely to show a massive deficit with China. he ... Read More »

China aluminum sheet metal imports hurt American producers

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BEIJING: Trade Commission on Friday said in an initial finding that imports of aluminum alloy sheet metal from China harm U.S. producers, allowing a U.S. probe into whether the product was being dumped or subsidized to move forward. Employing a seldom-used tactic aimed at speeding up the imposition of duties, the U.S. Commerce Department in November “self-initiated” anti-dumping and anti-subsidy ... Read More »

China exports imports growth slow in December

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BEIJING: China’s exports and imports growth slowed in December after surging in the previous month, adding to signs of ebbing economic momentum as the government extends a crackdown on financial risks and factory pollution. A synchronised uptick in the global economy over the past year has been a boon to China and much of trade-dependent Asia, with Chinese exports in ... Read More »

China trade with Australia soars along with war of words

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BEIJING: China’s trade with Australia grew strongly last year, with the latest data showing a 23 per cent increase, reaching 923.4 billion Chinese yuan ($180 billion), driven by China buying more Australian resources. The China customs agency report for 2017 shows 37 per cent growth in Chinese imports from Australia, worth 642.8 billion Chinese yuan. The annual trade figures, telling ... Read More »

Booming global trade helped China exports surge last year

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BEIJING: China’s exports rose in December, capping a year of stronger trade growth buoyed by a robust global economy. Exports rose 10.9 percent in dollar terms in December, the customs administration said Friday That compares with a forecast of 10.8 percent in a Bloomberg survey Import growth slowed to 4.5 percent, leaving a trade surplus of $54.69 billion.Full year data ... Read More »

China says U.S. curbs on tech exports to it only contributes trade deficit

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BEIJING: China’s commerce ministry said on Thursday the United States’ restrictions on tech exports to the country will contribute to the trade deficit it has with China. The United States’ 301 investigation is harmful to the global trade framework, China’s commerce ministry spokesman Gao Feng said at a regular news briefing. Gao added that China would take all necessary means ... Read More »

Cheers to China for making it Easier for people to import

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BEIJING: Government of China’s unilateral reduction of tariffs last month on almost 200 consumer products provides further testimony to the fact that the goal of trade is not just to increase exports, but also imports. The Chinese have become tired of being poor people living in an increasingly wealthy nation. In fact, after years as the world’s biggest exporter, China ... Read More »

China further tightens regulations on oil product consumption tax

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BEIJING: China will further tighten regulations over oil product consumption tax starting from March 1, according to an updated announcement posted on the website of the State Administration of Taxation. The announcement aims to strengthen consumption tax regulations for oil products including gasoline, gasoil, jet fuel, naphtha, solvent oil, lubricant oil and fuel oil, SAT said. The key difference from ... Read More »

Smuggled Japanese koi fish seized in Shenzhen

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SHENZHEN:Customs officials show koi fish smuggled from Japan in Shenzhen City, South China’s Guangdong Province, Jan. 9, 2018. Wenjindu Port of Shenzhen Customs discovered 23 koi carp, measuring up to 100 centimeters in length, and 120 koi fry in a vehicle, the first such smuggling case in recent years. Koi fish are colorful, ornamental versions of the common carp, thought ... Read More »

China adjusts tariff policies for major equipment imports

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BEIJING: Chinese authorities have released tariff policy adjustments for imports of major technological equipment in response to changing industrial development in the country. A notice issued by six government agencies including the Ministry of Finance and the top economic planner revised product catalogues that specify the industries encouraged by the government and those that no longer enjoy tax breaks. Imports ... Read More »

West must learn to handle trash as China stops importing

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BEIJING: Western countries were hit heavily at the start of the new year when China banned the import of 24 types of solid waste. They have long relied on exporting plastic recycling to China and have been lax about recycling domestic waste. Pictures show rubbish has built up in some of them. China was once the biggest importer of solid ... Read More »

China adjusts tariff policies for major equipment imports

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BEIJING: Chinese authorities have released tariff policy adjustments for imports of major technological equipment in response to changing industrial development in the country. A notice issued by six government agencies including the Ministry of Finance and the top economic planner revised product catalogues that specify the industries encouraged by the government and those that no longer enjoy tax breaks. Imports ... Read More »

China and global circular economy

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BEIJING: Shifting towards a more circular economy focused on reuse, remanufacturing and recycling may provide an urgent boost to growth and jobs in developing countries, and China can play a leading role. Interest in the circular economy has grown over the past decade in recognition that current rates of resource consumption are unsustainable. The shift to a more sustainable model ... Read More »

Slowing China demand to curb PH nickel ore exports

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BEIJING: Weaker metal demand from China is expected to affect the local mining industry, which has been the Mainland’s chief supplier when it came to nickel ore. According to a report by the World Bank entitled “Commodity Markets Outlook,” there is a possibility for the booming Chinese economy’s consusmption of metal to flatline as it limits its output and exports ... Read More »