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China LNG imports surge to record amid winter heating crunch

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BEIJING: China imports of liquefied natural gas in November surged 53% to a record as the nation scrambles to meet fuel shortages amid peak winter demand and government’s drive to cut coal use. LNG imports rose 53% from the same month last year to 4.06 million metric tons, according to data posted Saturday on the website of the General Administration ... Read More »

China exceeds target for household gas projects but some left freezing

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BEIJING: China Ministry for Environmental Protection (MEP) said it had completed coal to gas and coal to electricity projects for 3.9 million households or 25,220 villages exceeding a target of 3.1 million houses for 2017 in northern Chinese regions. The project has left some rural villages in the cold, however, the MEP said late on Sunday, as local officials were ... Read More »

Chinese customs seizes $13m worth of smuggled fuel

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BEIJING: Chinese customs in Nanjing city has seized 12,000 tonnes of smuggled fuel worth 85 million yuan ($12.98 million), state news agency Xinhua reported on Monday. The seizure is a result of months of investigations in coastal provinces of Jiangsu, Fujian and Zhejiang province. The authorities have also arrested 17 suspects. Smuggling was carried out outside the mouth of Yangtze ... Read More »

Minister denies Japan is hotbed of illegal ivory exports

japan

TOKYO: The Japanese environment minister has denied a claim that the country has been a hotbed of illegal ivory exports after a wildlife trade watchdog urged Japan to stop fueling the internationally outlawed practice. Environment Minister Masaharu Nakagawa said, “We have been bolstering distribution management in the market and taking necessary measures,” following a call by the wildlife trade monitoring ... Read More »

Factories see stable Christmas goods exports

china

BEIJING: Exports of Christmas-related goods maintained stable growth this year, but fierce competition and rising costs have pressed domestic makers to innovate or transfer production. Wang Xiaolong, manager of Shaanxi Longstar New Material Technology Co, told the Global Times on Sunday that his company’s sales of artificial Christmas trees soared more than 100 percent this year. Longstar, based in Huizhou, ... Read More »

U.S. Aluminium execs take case against Chinese imports to Capitol Hill

china

BEIJING: A team of executives from several United States aluminium firms testified before the U.S. International Trade Commission (ITC) last week to add their voices to the growing chorus calling for the body to recognize the significant and ongoing injury they say is being inflicted upon them by common alloy aluminum sheet imported from the People’s Republic of China. Speakers ... Read More »

China’s November sugar imports rises 16.7 percent to 160,000 tonnes: customs

china

SHANGHAI: China’s November sugar imports rose 16.7 percent from the year before to 160,000 tonnes, customs data showed on Saturday, while corn imports tumbled 30.5 percent. China’s sugar imports in November were at 160,000 tonnes, up from last year’s 135,096 tonnes, when high international prices curbed buying, data from the General Administration of Customs showed. They were down from last ... Read More »

China gears up to reduce impact of US tax cut

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BEIJING: Chinese companies with international ambitions are caught in a serious dilemma by the U.S. move to cut corporate tax rates. The move has made the U.S. an attractive destination for Chinese companies facing very high taxes and other restrictions at home. On the other hand, they face the risk of being punished by Chinese authorities who are opposed to ... Read More »

China to back fresh UN sanctions on North Korea Fuel

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SHANGHAI: China has signaled it’s ready to back another round of United Nations sanctions that will slash exports of fuel to North Korea, according to people familiar with the matter. The UN Security Council is set to vote on Friday at 1 p.m. in New York on the fourth resolution against North Korea in 13 months. It comes in response ... Read More »

China to boost steel exports by reducing export tariffs

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BEIJING: Last week, China issued a global call to for countries to support the World Trade Organization (WTO) and the principles of global trade in the face of a perceived pullback from the U.S. This week, China is risking another trade dispute by cutting export taxes on some steel products and fertilizers while completely canceling those for sales abroad of ... Read More »

China’s export taxes on metal products to be unchanged in 2018

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SHANGHAI: China is to keep export taxes for metals products at current levels in 2018, the finance ministry said Wednesday. There will still be no export tax on non-alloy aluminum with metal content of over 99.95%, while the export tax on non-alloy aluminum with metal content below 99.95% will remain at 15%. Likewise, the 15% export tax on unwrought aluminum ... Read More »

Thai woman illegally imports 10kg dried frogs into Singapore again

thailand

BANGKOK: A 39 year old Thai woman who had earlier been fined for bringing assorted meat products without a licence into Singapore has been penalised again for the same offence by a local court. Straits Times reported that this was the first time a case of illegal import of dried frogs was brought to a court. On Wednesday (20 December), ... Read More »

China to boost imports for balanced trade

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BEIJING: China has vowed to increase imports and cut import tariffs on some products to promote balanced trade as part of its effort to push forward a new pattern of all-round opening up. The country will expand free trade zone pilot areas and guide foreign investors to operate in the country in an efficient way, according to a statement released ... Read More »

China’s customs seize 323,000 tonnes of smuggled waste

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BEIJING: Customs in 13 Chinese provincial regions seized 323,000 tonnes of smuggled waste in a move against the import of “foreign garbage.” Some 127 suspects were arrested during the action, the fourth round in the “Blue Sky” campaign against solid waste smuggling, General Administration of Customs spokesperson Huang Songping said Tuesday. However, Huang did not say where the waste, including ... Read More »

China raises 2018 import tax on melting refined nickel

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BEIJING: The tax increase applies to refined nickel with harmonized system (HS) code 75021090, that includes most of Chinese nickel full plates imports from Russia, Finland, South African and Brazil. However, the greatest impact will be on shipments from Russia given that they account for half of the imports under this HS code. The raising of the import tax has ... Read More »

WB predicts slowing China growth

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SHANGHAI: The World Bank has predicted China’s GDP growth will slow to 6.4 per cent in 2018, down from 6.9 per cent during the first three quarters of 2017. The forecast was released in the bank’s latest China economic update where it predicted growth would drop even further to 6.3 per cent in 2019. The numbers reflect signals from within ... Read More »

Shanghai nickel surges over 4% on China steel outlook

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SHANGHAI: Shanghai nickel jumped more than 4 percent on Monday, tracking a move in London after China said it would cut duties on some steel exports, which raised expectations for demand. London Metal Exchange nickel rose 0.4 percent to $11,625 a tonne following a 3.8 percent rally on Friday. China will cut export taxes on some steel products and fertilisers ... Read More »

New national tax to hit polluters beginning 2018

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BEIJING: The Chinese government will formally implement an environmental protection law on January 1 that will impose a tax on polluters based on the amount and type of pollution they release. The law, which was approved in December 2016, dictates that Chinese enterprises that discharge pollutants directly into the environment will pay an environmental protection tax, noted a report from ... Read More »

China to do away with export tax on steel products

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SHANGHAI: China will remove the export tax on steel products, the Ministry of Finance said on Friday, in a move likely to increase trade tensions. The country typically adjusts export tax levels at the end of each year, to either encourage or discourage exports. Heavy outflows of steel from China have become a political issue in recent elections in Europe ... Read More »

China to do away with export tax on steel products,

china

BEIJING: China will remove the export tax on steel products, the Ministry of Finance said on Friday, in a move likely to increase trade tensions. The country typically adjusts export tax levels at the end of each year, to either encourage or discourage exports. Heavy outflows of steel from China have become a political issue in recent elections in Europe ... Read More »