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US-China trade talks break up without deal


Trade talks between the US and China have broken up without a deal, with the US warning that “very difficult issues” remain unresolved. The talks in China this week were aimed at securing a new deal before further US tariffs are imposed on 1 March. China said negotiations would now continue in the US next week. “We feel that we ... Read More »

China sentences Canadian man to death for drug smuggling


A court in China has sentenced a Canadian to death for drug smuggling in a ruling which will worsen a diplomatic row between the two countries. Robert Lloyd Schellenberg was originally given a 15-year jail term in 2018 but after an appeal the court said the sentence was too lenient. Monday’s ruling comes weeks after Canada arrested Meng Wanzhou, a ... Read More »

IHH drags KLCI into the red, markets eye US-China talks

market jan2017

Selling pressure on IHH Healthcare bogged down blue chips in early Tuesday trade while key Asian markets focused on the new round of US-China trade talks. At 9.30am, the FBM KLCI was down 1.06 points or 0.06% to 1,687.50. Turnover was 355.13 million shares valued at RM161.63mil. There were 248 gainers, 153 losers and 198 counters unchanged. Asian shares barely ... Read More »

China customs seizes 8 ivory items


BEIJING:-Nanning Customs in south China’s Guangxi Zhuang Autonomous Region has seized eight ivory products, it announced Sunday. The eight ivory bracelets weighing a total 577.1 grams were found inside four coffee packages carried by a Read More »

Dozens of coal, iron ore freighters stuck off China ports amid customs delays

FILE - In this Feb. 23, 2015 file photo, container ships wait to be unloaded at the Port of Los Angeles. China has raised tariffs on $60 billion of U.S. imports in an escalation of their trade battle following a deadline for President Donald Trump’s latest increase. (AP Photo/Nick Ut, File)

Beijing: Dozens of ships carrying coal and iron ore to China are stuck outside ports waiting to unload, according to shipping data, with traders saying harbour authorities are taking longer than usual to clear the imports with customs officials. Refinitiv data showed on Friday that more than 300 dry-bulk freighters in total are currently sitting idle, waiting to deliver into ... Read More »

China bans pigs, wild boars and products from Mongolia

FILE - In this Feb. 23, 2015 file photo, container ships wait to be unloaded at the Port of Los Angeles. China has raised tariffs on $60 billion of U.S. imports in an escalation of their trade battle following a deadline for President Donald Trump’s latest increase. (AP Photo/Nick Ut, File)

Shanghai : China bans pigs, wild boars and products from Mongolia. * China’s customs said on Thursday it has banned pigs, wild boars, and products from Mongolia after the Asian country reported African swine fever outbreaks in mid-January * The ban, effective Tuesday, came as China battles the world’s fastest-spreading epidemic of the deadly disease on its own land, which ... Read More »

Trade wars cost US, China billions of dollars each in 2018


CHICAGO: The US-China trade war resulted in billions of dollars of losses for both sides in 2018, hitting industries including autos, technology – and above all, agriculture. Broad pain from trade tariffs outlined by several economists shows that, while specialized industries including US soybean crushing benefited from the dispute, it had an overall detrimental impact on both of the world’s ... Read More »

China imports no U.S. LNG in Dec.; Malaysia cargoes reach record


SHANGHAI : China didn’t import LNG from the U.S. in December after resuming shipments the previous month amid a trade dispute, according to data from the General Administration of Customs. *** Annual imports 23.5m tons in 2018, according to Bloomberg calculations based on customs data ** Qatar 1.12m tons, highest since January *** Annual imports 9.24m tons: Bloomberg calculations ** ... Read More »

China data: Dec LPG imports rise 14% on month to 1.44 mil mt


China imported 1.44 million mt of LPG in December, up 13.5% from November, but down 9.3% year on year, the latest data released by the General Administration of Customs showed Friday. A combination of lower import price, better cracking margins at propane dehydrogenation plants and firm winter demand from household users was believed to have encouraged Chinese importers to bring ... Read More »

China’s 2018 soybean imports from U.S. hit lowest since 2008


BEIJING : China’s soybean imports from the United States plunged 99 percent in December to just 69,298 tons, customs data showed on Friday, taking its full-year 2018 imports to the lowest level since 2008 amid an ongoing trade war. It was the second month in a row when Chinese imports from the United States ground to a virtual halt amid ... Read More »

Russia seals position as top crude oil supplier to China, holds off Saudi Arabia


BEIJING : Russia came in as China’s largest crude oil supplier in December, cementing the top spot for all of 2018 for a third year in a row ahead of rival Saudi Arabia, customs data showed on Friday. Imports from Russia reached 7.04 million tons, or 1.658 million barrels per day, in December, up 40 percent from 5.03 million tons ... Read More »

Chinese traders in American cars find temporary relief in trade war truce


In the northeastern Chinese port city of Tianjin, grey market traders of American-made cars, badly stung by the US-China trade war and punitive tit-for-tat tariffs, are scrambling to take advantage of an opportunity they fear may prove only temporary. At a car “supermarket” near the city’s busy harbour, importers said they were rushing to get “Made in America” cars through ... Read More »

China shares customs shipment data with Pakistan: FPCCI


Karachi : For the first time China has shared data of customs shipments with Pakistan, said senior vice president Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Dr Mirza Ikhtiar Baig. “Federal Finance Minister Asad Umar has told me during his recent visit to Karachi that China has shared customs shipment data with the Federal Board of Revenue,” he ... Read More »

China donates four X-ray scanners to Customs


ISLAMABAD: Chinese Embassy in Pakistan has donated four X-Ray scanners to the Custom Wing of Federal Board of Revenue here on Friday. According to the statement issued by the FBR, the scanners were handed over by Mr. Chen Wei, Counsellor of the Embassy of the People’s Republic of China in Islamabad to Dr Jawwad Uwais Agha, Member Customs (Operations), Federal ... Read More »

Dalian customs official accused of helping shoppers smuggle luxury goods into China


Shanghai : The top customs official in the city of Dalian has been placed under investigation following accusations that he helped female international professional shoppers smuggle goods into the country in exchange for sex. 37-year-old Guan Zhaojin was reported to the Dalian customs office last August by his wife who caught him cheating with another woman and soon managed to ... Read More »

Beef Import in China 2019-2023 – Import Volume Will Continue to Grow


Shanghai : With the development of China’s economy and the improvement of living standards, the demand for beef in China is rising. The upward cattle breeding cost makes it difficult to sharply increase the beef output in China. In response to the growing beef consumption, China is importing more beef. From 2013 to 2017, the beef output volume in China ... Read More »

Cebu Customs on alert vs entry of meat products from China


Shanghai : Ports in Cebu are also now being closely monitored to prevent the entry of contaminated meat products from China and some European countries affected by an outbreak of African Swine Fever. Bureau of Customs-Port of Cebu (BOC-Cebu) Operations Division Chief Reynaldo Leyson was quoted by the state-ran media Philippine News Agency as saying that they will be alerting ... Read More »

Trump’s trade war has an unexpected bonus


Shanghai : A few days before Christmas, the container ship “SM Shanghai” was steaming toward California’s Port of Long Beach. Just ahead and coming to the end of an 11-day journey from China, the “Ever Lucent” was headed for the nearby Port of Los Angeles, where the “Thomas Jefferson” was preparing to sail in the opposite direction for Xiamen. The ... Read More »

Kenyan President Denies China Plans to Seize Port over Delinquent Loan Payments


Shanghai : Kenyatta described China as “a very strong development partner, just as is the World Bank, Japan, France, and Germany.” He said he would continue borrowing as much money as necessary to develop Kenya’s infrastructure, boasting that double the number of Kenyans now have access to electric power thanks to the loans he has taken. SGR refers to the ... Read More »

China Green Light on U.S. Rice Seen as ‘Goodwill’ Trade Gesture


China, the world’s top rice producer and consumer, is allowing imports of the grain from the U.S. in a move seen as “a goodwill gesture” while negotiations continue to resolve a trade war between the two countries. Registered U.S. suppliers can export rice to the Asian country with effect from Dec. 27, according to a statement from China’s customs administration ... Read More »