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China’s April LNG supply from Australia hits record high, up 61% on year

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China imported a record high 2.79 million mt of LNG from Australia in April, up 61.3% year on year, latest customs data showed, amid growing domestic gas consumption, rising Australian LNG export capacity and trade tensions between China and the US. “Chinese LNG imports are growing and without a significant influx of US LNG, they are likely going to look ... Read More »

China’s Saudi Oil Imports Jumps After Waiver On Iranian Oil Sanction Expires

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China’s purchase of Saudi crude oil jumped 43 percent on the year in April to an average 1.53 million barrels per day compared to 1.07 million barrels per day in April last year. Independent refiners continued to import more on Saudi as the sanctions on Iranian oil continues. Imports of Saudi and Russian oil increased after the waivers to purchase ... Read More »

China’s crude oil imports from Saudi Arabia up 43%

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BEIJING: China’s crude oil imports from Saudi Arabia rose 43 percent in April, making the Middle Eastern OPEC kingpin once again the top supplier to the world’s second-biggest economy, boosted by demand from new private refiners. Saudi imports grew to 6.30 million tons, or 1.53 million barrels per day (bpd) on a daily basis, compared with 1.07 million bpd in ... Read More »

Delhi may gain from US-China trade war by slashing own tariffs

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NEW DELHI: A high level advisory group set up by the commerce ministry has advocated reducing India’s overall tariffs to benefit from the ongoing trade war between the US and China. This could help the Narendra Modi government formulate an effective trade policy in its second innings. “A knee-jerk, tit-for-tat approach on tariffs may not be the soundest one to ... Read More »

China’s April soybean imports from US up 15.9pc m/m, Brazilian imports soar

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BEIJING: China’s soybean imports from the United States rose in April, helped by an earlier easing of trade tensions with Washington, while imports from Brazil surged after buyers backloaded their March orders to benefit from a tax cut on agricultural products. China, the world’s top soybean buyer, brought in 1.75 million tonnes of the oilseed from the United States, up ... Read More »

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

(FILES) In this file photo taken on November 09, 2017, US President Donald Trump (L) shakes hand with China's President Xi Jinping at the end of a press conference at the Great Hall of the People in Beijing. - China said Monday, May 13, 2019 it will raise tariffs on $60 billion worth of US goods from June 1, in retaliation to the latest round of US tariff hikes and Washington's plans to target almost all Chinese imports. The announcement came after the latest round of US-China trade negotiations ended Friday, May 10, 2019 without a deal, and after Washington increased tariffs on $200 billion worth of Chinese goods. (Photo by Fred DUFOUR / AFP)

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 tariffs directly. Tariffs are a tax on imports. They are paid by U.S.-registered firms to U.S. customs for the goods they import ... Read More »

China pork imports jump 24% in April -customs

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BEIJING,: China imported 136,517 tonnes of pork in April, up 24% from the same month a year earlier, customs data showed on Thursday, as the world’s top consumer of the meat stocked up on supplies amid concerns of a looming shortage. This marked the biggest monthly volume since September 2016, when pork imports topped 140,000 tonnes. The have only come ... Read More »

Turkey grapples with big trade deficit with China

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President Donald Trump has stepped up his trade war on China after the United States’ trade deficit in goods with China hit a record $419.2 billion last year. US exports to China were worth $120.3 billion, while its imports were 4.5 times bigger, totaling $539.5 billion. Turkey, saddled in relative terms with a worse trade deficit with China, has begun ... Read More »

EU firms ‘caught in crossfire’ of US-China trade war

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European firms are “caught in the crossfire” of the US-China trade war and fewer are optimistic about their future in the world’s second-largest economy, a business survey showed Monday. The clash between Beijing and Washington does not benefit European companies, contrary to what some might have hoped at the beginning of the dispute last year, according to the European Union ... Read More »

China’s VAT cut benefits import enterprises

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China’s import enterprises saw their tax burden significantly reduced last month as the country lowered value-added tax (VAT) rates to further lighten the financial pressure of enterprises. BP Zhuhai Chemical company in south China’s Guangdong Province saw its VAT reduced by 14.02 million yuan (about 2.04 million U.S. dollars) in April thanks to the tax reduction. After reducing VAT rates, ... Read More »

Canadian soybean exports to China plunge 95% after hitting record high, as diplomatic dispute continues

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Chinese purchases of Canadian soybeans have “slowed to a trickle,” plunging 95 per cent in the first few months of the year amid ongoing diplomatic tensions between Ottawa and Beijing. The sudden decline comes alongside news, first reported by the Wall Street Journal, that Chinese customs authorities have ramped up inspections of Canadian shipments of the crop. Exports of Canadian ... Read More »

Brazil seeks China’s OK for genetically modified sugarcane

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BEIJING : Brazil’s agriculture minister will ask Chinese officials on Thursday to greenlight exports to the Asian nation of sugar made from genetically modified (GM) sugarcane, which is expected to be widely used in Brazil in coming years. Minister Tereza Cristina Dias told Reuters in Beijing on Wednesday, on her first visit to Brazil’s top buyer of farm goods, that ... Read More »

Wiseway lowers earnings forecast owing to Chinese economic slowdown

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Chill winds from the Chinese economy have caused Australian freight forwarder Wiseway to downgrade its anticipated China/Australia freight volumes and earnings. Wiseway (ASX:WWG) downgraded its anticipated earnings before interest, taxation, depreciation and amortization for the year ended June 30, 2019 to A$3.0 million (US$2.07 million). That’s down 85.82 percent from the forecast of $8.5 million in its initial public offering ... Read More »

Belarus’ Customs gets technical aid from China

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MINSK DISTRICT, 16 May (BelTA) – The Belarusian customs service has received a batch of technical and economic aid from the Chinese government. A ceremony to hand over high-tech equipment took place in the transport and logistics center Minsk-Beltamozhservis-2 on 16 May, BelTA has learned. Director of the International Technical and Economic Exchange Center of the Chinese Commerce Ministry Yan ... Read More »

China criticizes US action against Huawei

Shoppers browse smartphones at a Huawei retail store in Hangzhou in eastern China's Zhejiang province, Thursday, May 16, 2019. In a fateful swipe at telecommunications giant Huawei, the Trump administration issued an executive order Wednesday apparently aimed at banning its equipment from U.S. networks and said it was subjecting the Chinese company to strict export controls. (Chinatopix via AP)

BEIJING : China vowed Thursday to “resolutely safeguard” Chinese companies after Washington labeled telecom equipment giant Huawei a security risk and imposed export curbs on U.S. technology sales to the company. A foreign ministry spokesman, Lu Kang, criticized the moves as an “abuse of export control measures” after the Trump administration issued an order requiring Huawei to obtain government permission ... Read More »

Chinese officials commit to Irish plant inspections in August

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A commitment by Chinese authorities to carry out a plant approval inspection in Ireland in August has been welcomed by Meat Industry Ireland (MII). However, MII’s senior director, Cormac Healy, said that it would have been “preferable” if the Asian country had granted pre-registration and approval “immediately”. “At today’s meeting with vice-minister Zhang Jiwen of China’s customs [administration], it was ... Read More »

With Higher Tariffs, China Retaliates Against the U.S.

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BEIJING : China moved to retaliate against the United States, announcing plans on Monday to raise tariffs on American goods ranging from beer and wine to swimsuits, shirts and liquefied natural gas. The decision, which follows President Trump’s increase in tariffs on Chinese goods last Friday, escalates the pressure in the ongoing trade war. Trade talks between the two sides ... Read More »

US trade hawks flying high in battle with China

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Hours after Donald Trump ramped up trade tensions with China by inflicting higher tariffs on the country’s imports, Lou Dobbs, the conservative Fox Business Network anchor, led his evening broadcast by showering praise on the move.  “For far too long communist China has been cheating the United States on trade,” he said. “President Trump has made it clear: the failure of ... Read More »

AFL Shanghai game helps connect China and Australia: Port Adelaide club CEO

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ADELAIDE:With the 2019 Australian Football League (AFL) China game approaching, the CEO of Port Adelaide Football Club Keith Thomas is expressing his hopes that the popular sport in his country can help promote exchanges and understanding between Australia and China. “It is a great vehicle for us to talk about Australia in China,” he said in a recent interview with ... Read More »

Companies await China retaliation; weaker growth expected

Donald Trump the campaigner talked tough on China: He threatened to slap tariffs of 45% on Chinese exports, and promised to label Beijing a "currency manipulator."Full credit: Ian Berry/CNNMoney/Shutterstock

BEIJING : Companies waited Monday to see how China will retaliate for President Donald Trump’s escalation of a fight over technology and trade that threatens to disrupt a Chinese economic recovery. Regulators threatened “necessary countermeasures” for Trump’s tariff hikes Friday on $200 billion of Chinese imports. But three days later, in a break with previous tit-for-tat penalties imposed immediately, Beijing ... Read More »