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China’s fiscal revenue picks up speed in July


BEIJING: China’s fiscal revenue registered faster growth in July, the Ministry of Finance (MOF) said Friday.  Fiscal revenue gained 11.1 percent year on year to 1.65 trillion yuan (nearly $250 billion) last month, up from the 8.9-percent growth in June, according to the MOF. Fiscal expenditure rose 5.4 percent year on year to 1.35 trillion yuan, slowing from the 19.1-percent ... Read More »

China July vehicle sales up 6.2% YOY


BEIJING:  China’s overall vehicles sales grew 6.2 percent in July from a year earlier to 1.97 million vehicles, showing that the world’s largest auto market continues to rebound from the weakness it saw in April and May, the China Association of Automobile Manufacturers (CAAM) said on Friday. In June, vehicle sales volume rose 4.5 percent from a year earlier. It ... Read More »

China, Switzerland to implement AEO agreement in Sep

china switzerland

BEIJING: The China-Switzerland agreement on mutual authorized economic operator (AEO) status will go into effect on September 1 to provide easier customs clearance for exporters, the General Administration of Customs said Thursday. Under the agreement, companies that obtain AEO status in the two countries will enjoy simplified customs procedures, such as reduced examination or prioritized clearance, when they export products ... Read More »

China’s foreign trade outlook positive, uncertainties remain

foreign trade

BEIJING:  Despite slower-than-expected monthly expansion, China’s foreign trade growth is expected to remain on a positive track amid uncertainties for the year. The country’s exports in yuan-denominated terms rose 11.2 percent year on year in July, compared with the 17.3-percent growth in June, customs data showed Tuesday. Imports increased 14.7 percent, slowing from 23.1 percent in June, the weakest monthly ... Read More »

China’s crude oil imports fell to a 7-month low

crude oil

BEIJING: China’s General Administration of Customs reported that China’s crude oil imports were at 8.18 MMbpd (million barrels per day) in July 2017— 520,000 bpd or 6% lower than May 2017. China’s crude oil imports are at the lowest level since January 2017. Imports fell due to the decline in imports from Chinese refiners. Chinese refiners utilized the high Chinese ... Read More »

China consumer inflation falls short of expectations

inflation eases

BEIJING: China’s consumer price index rose 1.4 percent in July from a year ago, missing estimates, the National Bureau of Statistics said Wednesday. Meanwhile, China’s producer price index rose 5.5 percent in July from a year ago. Analysts polled by Reuters expected consumer inflation to stay steady from June at 1.5 percent on-year while producer prices were also forecast to ... Read More »

China trade surplus crosses $46bn despite weak exports

china trade surplus

BEIJING: China’s exports and imports grew much less than expected in July, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back years of massive stimulus support. China and Europe have been driving an increasing share of global growth this year as political conflict stymies stimulus policies being pushed by US ... Read More »

Canada, China free trade deal taking shape


OTTAWA: China and Canada have broadly agreed what should be included in a future free trade agreement, after a third round of “exploratory” talks. The two nations held intensive five-day negotiations in Beijing between July 31 and August 4. Both sides exchanged views on the joint feasibility study report and each other’s expectation on the future free trade agreement, and ... Read More »

China July trade surplus with U.S. slips to $25.2 bln


BEIJING:  China had a $25.2 billion trade surplus with the United States in July, down slightly from $25.4 billion in June, which was the highest since October 2015, customs data showed on Tuesday. China also recorded a $142.75 billion trade surplus with the U.S. for the first seven months of the year. U.S. President Donald Trump is believed to be ... Read More »

China July exports, imports weaker than expected, cloud global outlook

imports and exports

BEIJING: China’s exports and imports grew much less than expected in July, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back years of massive stimulus support. China and Europe have been driving an increasing share of global growth this year as political conflict stymies stimulus policies being pushed by U.S. ... Read More »

China July coal imports at 5-month low


BEIJING:  China’s imported 19.46 million tonnes of coal in July, the lowest volume since February, data from China’s General Administration of Customs showed. For the first seven months, coal shipments were up 18.2 percent from the same period last year to 152.71 million tonnes, customs data showed. Read More »

China agency says no Pinoys involved in P6.4-B shabu case


BEIJING: The General Administration of Customs of China (GACC) cleared Philippine customs officials of involvement in the smuggling of P6.4 billion worth of shabu into the Philippines, the Bureau of Customs (BOC) said Sunday. In an emailed statement, the BOC said it received a letter from GACC’s International Enforcement Cooperation Division dated July 17, 2017 saying that there were no ... Read More »

China’s first bike-sharing IPO aims to raise $96m


BEIJING: Changzhou Youon Public Bicycle System is set to become the first listed bike-sharing company in China following a public float that aims to raise Rmb644.4m ($96m), valuing the company at $384m. Subscriptions for the offering, worth a quarter of the company, begin on Monday. The shares are being offered at Rmb26.85 each. Bike-sharing has boomed in China, with at ... Read More »

Foreign firms ride China’s new economy


BEIJING: As China’s “new economy” goes from strength to strength, more and more foreign firms are jumping in for a slice of the pie. Shared bikes flood the city streets, diners pay for meals on their smartphones, electric cars whizz down the roads: in the rapidly shifting picture of China’s new economy, foreign companies are not absent. Apple is betting ... Read More »

China’s imports from BRICS nations up 33.6%

imports increased

BEIJING: As part of a positive trend of South-South cooperation, China imported products worth 70.2 billion U.S. dollars from BRICS countries in the first half of 2017, up 33.6 percent on year to year basis, according to its Ministry of Commerce. The stats came out in the framework of the annual meeting in Shanghai of the Ministers of Trade of ... Read More »

China’s coal imports rise as India’s stumble


BEIJING: China’s imports of coal from the seaborne market surged again in July, providing a stark contrast to a fourth consecutive monthly decline for India. It’s possible that the market should be paying more attention to China’s growing imports rather than India’s downturn. The different dynamics in the world’s two largest importers of the polluting fuel are largely a reflection ... Read More »

China to see strong investment in Q3


BEIJING: China is expected to see a robust level of domestic investment demand growth starting late August, according to a major investment bank. Leading indicators of infrastructure, property and manufacturing investment demand all point to strong momentum in the near term, said China International Capital Corporation Limited (CICC) in a report. According to the report, with stabilized financial conditions and ... Read More »

China central bank finds 40 banks in violation of rules


BEIJING: China’s central bank has found 40 banks in violation of interbank account regulations and have ordered them to rectify the problem within three to six months, financial magazine Caixin reported on yesterday, citing a document. Large state-owned lenders, including China Construction Bank , Bank of China (BOC), Agricultural Bank of China, China Minsheng Banking Corp, China Merchants Bank , ... Read More »

Iran, China to facilitate visa issuance

iran china

TEHRAN: Head of Iran-China Joint Chamber of Commerce Asadollah Asgaroladi has called for resolving visa issues between Iran and China. Addressing a seminar on the sidelines of China Guangdong 21st Century Maritime Silk Road International Expo, Asgaroladi pointed to long history of economic cooperation between Iran and China saying “the seminar in intended to raise issues and problems in the ... Read More »

China expects bigger tourism trade surplus


BEIJING: China’s tourism trade surplus is expected to increase as the country is taking in more cash from inbound visitors than its outbound travelers spend overseas, according to the country’s tourism industry watchdog. China’s inbound tourism market has emerged from the downturn after the global financial crisis and increased continuously in the past few years, China National Tourism Administration (CNTA) ... Read More »