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Tag Archives: China

After Customs Today unearthed green channel scam of billions, Customs starts de-listing importers from facility

Green channel

KARACHI: A number of importers have reportedly been de-listed from ”Green Channel” facility by the Federal Board of Revenue’s Directorate Reforms and Automation (DR&A). Sources said that the de-listed importers have been barred from clearing their consignments through examination. The importers have approached the Directorate through written letters and sought the reason of their abrupt de-listing from Green Channel. They ... Read More »

Shipping activity at Port Qasim

port-qasim (1)

KARACHI: Following is shipping report of Port Qasim: Sailing of Vessels Ship Name PQA Reg No L.O.A Commodity Manifest Qty. (Import) (Export) Draft Aft (Meters) Draft Far (Meters) ETD Ship Agent Name Berth M.T- GP ASPHALT III 25166 95.50 BITUMEN 2230.000 4.9 4.9 11:30 GATEWAY M/W-II M.T- OOCL WASHINGTON 25190 322.97 CONTAINERS 11.8 11.8 13:00 OOCL PAKISTAN QICT-V M.V- DARANEE ... Read More »

Gwadar Customs’ online system plagued by delays due to slow internet

Gwadar Port

GWADAR: Gwadar Port Authority Chairman Dostain Khan Jamaldini has said the customs authority’s inability to resolve issues of internet speed and reliability at the port managed by a Chinese state-owned entity is operating at less than capacity. In an interview to Bloomberg, Jamaldini said that although the Chinese have installed an alternative wireless system for provision of internet services, that ... Read More »

China, HK stocks fall on property curbs, slowdown fears

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SHANGHAI: China and Hong Kong shares fell on Monday morning, led by property stocks after some cities imposed new housing controls to hose down an overheated market. Investor sentiment was also undermined by simmering concerns that China’s beefed-up environmental protection could reduce demand, and consequently economic growth. Monday’s weak performance followed a hawkish Federal Reserve policy statement last week and ... Read More »

China, Saudi Arabia agree to strengthen economic ties

economic ties

BEIJING:  Chinese Vice Premier Zhang Gaoli Friday met with Saudi Arabian Minister of Energy, Industry and Mineral Resources Khalid al-Falih in Beijing, agreeing to advance industrial capacity and investment cooperation. Zhang will visit Saudi Arabia next week and co-chair the second meeting of a high-level steering committee for coordinating bilateral cooperation between China and Saudi Arabia with Crown Prince Mohammed ... 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, New Zealand to implement AEO customs agreement in July

agreement

SHANGHAI: China and New Zealand announced Tuesday a customs agreement on mutual Authorized Economic Operator (AEO) status to be implemented on July 1. The agreement will further boost bilateral trade and economic cooperation. Under the agreement, companies that obtain the AEO status in the two countries will enjoy simplified customs procedures, such as reduced examination or prioritized clearance, when they ... Read More »

China, Liberia sign first steel manufacturing deal

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BEIJING: Liberia and a Chinese company signed Friday the first ever steel manufacturing agreement in the West African country in more than 169 years, heralding the end to the exportation of its rich unprocessed iron ores. The $200 million agreement was signed between Tidfore Investment Company and the Liberian government that was represented by President Ellen Johnson Sirleaf, Finance and ... Read More »

China, Cambodia jointly seizes 1.1 tons of cocaine

COCAINE

SHANGHAI: Shanghai customs said Thursday that Chinese and Cambodian law enforcement authorities jointly seized 1.1 tons of cocaine and detained four drug trafficking suspects late last year. It is the largest amount of cocaine seized in recent years, they said. They said the case was not made public earlier because it was quite complicated and there were international drug traffickers ... Read More »

China, Singapore seek to expedite RCEP trade talks

china singapore

BEIJING: China and Singapore will do their best to expedite talks on the Regional Comprehensive Economic Partnership (RCEP), Singapore’s foreign minister said, calling the potential pact a statement on the importance of free trade. The Beijing-backed RCEP has been given new impetus by U.S. President Donald Trump’s withdrawal from the Trans-Pacific Partnership (TPP) trade agreement, to which China is not ... Read More »

China, Hong Kong equities fall on tech share slide, economy concerns

stocks

SHANGHAI: China and Hong Kong stocks started the week on a bearish note, as tech plays in both markets tracked the sell-off in U.S. counterparts, with sentiment also hurt by the prospect of renewed China slowdown in the second half amid tighter credit. China’s blue-chip CSI300 index fared better than small caps, slipping just 0.1 percent to 3,573.39 points by ... Read More »

China, Kazakhstan sign cooperation deals worth over $8 bln

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BEIJING: Chinese and Kazakh enterprises and financial institutions have signed at least 24 deals worth more than $8 billion during Chinese President Xi Jinping’s visit to Kazakhstan, Chinese Commerce Minister Zhong Shan said on Friday. Both sides agreed to push for the progress in cooperation in energy, mining, chemical industry, mechanical manufacturing, agriculture and infrastructure, said Zhong, Xinhua reported. China ... Read More »

China, Russia share much to expand economic cooperation

ECONOMIC COOPERATION

BEIJING: Roughly three months ahead of a BRICS summit to be held in China, Russian analysts saw immense potential to increase and diversify economic cooperation between Russia and China. Vast opportunities can be created during the development of the China-proposed Belt and Road Initiative and the process of Russia’s import substitution industrialization, experts said, adding that closer economic ties between ... Read More »

China, Afghanistan sign agreement on customs cooperation

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BEIJING: Director General for customs department at the ministry of finance Ahmad Reshad Popal, and China’s minister of general administration of custom, Yu Guangzhou, signed an agreement for customs cooperation at the sidelines of the “One Belt, One Road’ economic cooperation forum in Beijing, said a statement issued by Finance Ministry. #Afghanistan and #China will work together on simplifying custom ... Read More »

China, Europe join hands to speed up rail cargo transit

bilateral trade

BEIJING:  Almost 20 meters high and crossing three rails, the Chinese made railway cargo inspection system that has recently been put into operation at the Polish customs makes inspection process possible without stopping or slowing down running trains. Thanks to the world’s largest train container inspection system, the transit and customs clearance time of China Railway Express (CRE) – which ... Read More »

China, Hong Kong stocks fall, policy tightening unnerves

stock exchange

SHANGHAI: China stocks eased on Friday morning, with investors unnerved after Beijing unexpectedly raised short-term interest rates on the first trading day after the Lunar New Year holiday. The bearish sentiment spread to Hong Kong, where the market was poised for its fourth session of losses and investors awaited a key U.S. monthly jobs report that would set the tone ... Read More »

China, Switzerland sign AEO agreement

sign

BEIJING: China and Switzerland have signed a customs agreement on mutual authorized economic operator (AEO) status, a move that will further boost bilateral trade and economic cooperation, the country’s top customs authority said on Saturday. Chinese companies that obtain the AEO status will enjoy the same simplified customs procedures as native Swiss companies when their products enter Switzerland, the General ... Read More »

China, Switzerland sign AEO agreement

sign

BEIJING: China and Switzerland have signed a customs agreement on mutual authorized economic operator (AEO) status, a move that will further boost bilateral trade and economic cooperation, the country’s top customs authority said on Saturday. Chinese companies that obtain the AEO status will enjoy the same simplified customs procedures as native Swiss companies when their products enter Switzerland, the General ... Read More »

China, New Zealand sign-off on organics deal

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WELLINGTON: Organic producers and exporters in New Zealand and China are set to benefit under a new bilateral agreement. The Mutual Recognition Arrangement for Certified Organic Products was signed by the two countries in China late last month. New Zealand exports of organic produce to China are currently valued at NZ$27m per annum, with this figure tipped to rise thanks ... Read More »

China, New Zealand agree on mutual recognition of organic food certification

bilateral trade

BEIJING: China and New Zealand inked an agreement on Monday to mutually recognize organic food with official certification labels to facilitate organic food development and trade. China’s Certification and Accreditation Administration and New Zealand’s Ministry of Primary Industries agreed to mutually recognize each other’s certifications for organic food imports. This is the first mutual recognition agreement for organic food certification ... Read More »