Page 2 - China Exports

Australia expects China to lift ban on exports as they ease past 2020 row

Australian Trade Minister Don Farrell on Wednesday predicted the final obstacle for exports to China, Beijing's ban on live lobster imports, will be lifted soon after Chinese Premier Li Qiang visits the country. The return of lobsters to the Chinese market would be a milestone in the Australian government's ambition to stabilize bilateral relations since coming to power in 2022. China banned minister-to-minister communications with Australia and imposed a series of official and unofficial trade barriers in 2020 on Australian products including beef, barley, coal, wood and wine costing exporters 20 billion Australian dollars (USD 13 billion) a year. Bilateral relations plumbed new lows after a previous Australian government demanded an independent investigation into the causes of and China's responses to the COVID-19 pandemic. Farrell said Li becoming the first Chinese premier to visit Australia in seven years on Saturday would remove the final trade barrier on lobsters. I think ..

China's exports grow 7.6% in May, beat expectations amid trade tensions

China's exports for May beat analyst expectations despite trade tensions, though imports shrank, according to customs data released Friday. Exports jumped 7.6% in May from the same time last year to USD 302.35 billion. Imports however rose by 1.8% to USD 219.73 billion, missing estimates of about 4% growth. The uptick in exports is also partly due to a lower base from the same period last year, when exports declined 7.5%. In comparison, imports grew by 1.5% in April compared to the same period last year while April imports rose by 8.4%. Strong exports also saw China's trade surplus widen to USD 82.62 billion, up from April's USD 72.35 billion. China's growth in exports come as it faces escalated trade tensions with the US and Europe. The US is ramping up tariffs on China-made electric cars while Europe is considering levying similar tariffs. Factory activity in China slowed more than expected in May, according to an official survey released last week. The manufacturing purchasin

China accelerates construction of automated, efficient, intelligent ports

/ -- A report from People's Daily: As one steps into the fully automated container terminal at Rizhao Port in east China's Shandong province, a remarkable sight unfolds - remote-controlled quay cranes precisely grabbing and releasing containers, automated rail-mounted cranes and unmanned container trucks working in coordination... Human operators are scarcely visible at the terminal, yet operations run smoothly and efficiently. As the first side-loading and parallel-layout fully automated container terminal in the world, the terminal employs China's BeiDou Navigation Satellite System and 5G technology, and has launched six domestically developed and industry-first innovative technologies, including a scheduling system for autonomous container trucks. The pioneering facility has made remarkable progress since it was put into use on Oct. 9, 2021 - its single-crane operational efficiency improved by 50 percent and overall costs lowered by 70 percent. Besides, the single-crane handling .

China's April industrial output rises 6.7% as manufacturing gathers pace

However, retail sales, a gauge of consumption, rose 2.3% in April, slowing from a 3.1% increase in March

China vows strong support for equipment, consumer goods trade-in plans

Last month, China's cabinet issued an action plan containing detailed measures to promote an initiative designed to boost investment and consumption

China rejects Fitch's ratings of its fiscal outlook, says economy 'stable'

China's Finance Ministry denounced a report by Fitch Ratings that kept its sovereign debt rated at A+ but downgraded its outlook to negative, saying Wednesday that China's deficit is at a moderate and reasonable level and risks are under control. Risks to China's public finances are rising, Fitch said, as Beijing works to resolve mounting local and regional government debts and to shift away from heavy reliance on its troubled property industry to drive economic growth. But while slower growth is adding to the challenges of coping with heavy borrowing, Fitch said it kept China's A+ rating due to its large and diversified economy, its vital role in global trade and its huge foreign exchange reserves. The Finance Ministry said it was a pity that Fitch had downgraded its sovereign debt and faulted its methods, saying it had failed to take into account Beijing's moves toward appropriately intensifying, improving quality and efficiency of its government spending. In the long run, ...

US electronics trade: India lags global peers in plugging China gap

Vietnam has been the biggest beneficiary. It saw an incremental increase in electronics exports worth $39.1 billion between 2018 and 2023

Monetary policy preview: If it ain't broke, don't fix it

Core inflation is falling, and the rupee is stable. But the more pertinent question here is whether there is a need for monetary easing. Let's discuss the key determinants

China's exports, imports beat estimates, trade surplus of over $125 bn

China's exports and imports for the first two months of the year beat estimates, an indication that demand may be improving as Beijing attempts to boost economic recovery. Exports for the January-February period grew 7.1 per cent from a year earlier, customs data released Thursday showed, higher than the 2.3 per cent rise in December. Imports rose 3.5 per cent from the same time last year, up from a 0.2 per cent growth in December. China posted a trade surplus of USD 125.16 billion. Though China usually releases trade data monthly, the data for the first two months of the year are combined to avoid disruptions from the weeklong Lunar New Year holidays, when many businesses and factories are closed. The world's second-largest economy has struggled to bounce back after the pandemic, as it grapples with weaker demand globally as well as a domestic property crisis that remains a drag on the economy. Demand for Chinese exports has also been weak since the Federal Reserve and central b

China's factory activity expands on export order boost, shows survey

The export index may have been affected by the Lunar New Year which will fall on Feb. 10 this year, as factories and workers geared up for the pre-holiday shipment of goods

Taiwan CAA protests China's unilateral adjustment of flight routes

Taiwan's Civil Aviation Administration (CAA) protested China's unilateral adjustment of flight routes close to the median line of the Taiwan Strait on Tuesday

Govt could ease China investment curbs if border stays calm: Report

In 2020, India tightened scrutiny on investments from companies based in countries it borders, adding a layer of vetting and security clearances

Banned Chinese manja continues to be in high demand ahead of Uttarayan

As the countdown begins for the Makar Sankranti begins, markets are buzzing with variety of kites

Blinken meets Chinese, Japanese diplomats, seeks stability in Taiwan

Secretary of State Antony Blinken met a senior Chinese diplomat on Friday, as the Biden administration seeks to mitigate tensions over Taiwan as the island holds its presidential election. Blinken sat down with Liu Jianchao, the Chinese Communist Party's international minister. Hours later, he met with Yoko Kamikawa, the foreign minister of Japan, one of the United States' strongest allies in Asia. The Biden administration is seeking to keep down tensions in the Taiwan Strait if the governing Democratic Progressive Party, known to lean toward independence, should prevail in Saturday's election. Beijing, which considers Taiwan to be part of Chinese territory, has suggested to voters that they could be choosing between peace and war. The U.S. is not supporting any candidate in Taiwan's presidential election and plans to send an unofficial delegation to the island shortly after the election. In addition to Taiwan, Blinken and Kamikawa discussed the wars in Ukraine and the Middle East

Domestic steel vacuum bottle makers urge govt to check imports from China

The All India Steel Bottle Association (AISBA) has urged the government to take immediate measures to check the imports of sub-standard and cheap steel vacuum flasks into India. The imports of vacuum steel bottles from China and other countries are on the rise and the country has seen a 35 per cent increase in imports of the product from 2019-20 to 2022-23, the industry body said citing an official data. Bharat Agarwal, Treasurer of AISBA, also suggested the government not to extend import relaxation under a BIS (Bureau of Indian Standards) order which restricts quality approvals to such products beyond January 14, 2024. As per the order, he said, "January 14 is the last date by when the products getting imported are to be approved by the BIS". The products are not as per the BIS standards, hence the government must not extend the relaxation considering the issues faced by local manufacturers who have invested around Rs 1,500 crore in the Indian market, he said. "We have also not

China's rice exports to Ivory Coast top 2022 after India imposed curbs

The Asian nation shipped 45,000 tonnes to the African country in October, matching the volume exported in August, customs data compiled by Bloomberg show

Faster trains are crucial for India to tap global export markets like China

What has local train travel got to do with exports? A lot, according to Lin Tian at INSEAD in Singapore and Yue Yu at the University Of Toronto

China's gasoline exports tumble; IMF upgrades GDP growth forecasts

Beijing is owed more than $1 trillion in BRI project debt, says report

NITI Aayog working on plan to reduce reliance on China for supply chains

A senior government official was quoted as saying that the Aayog will bolster its policy recommendations on tariff and non-tariff barriers

China targets 50% growth in computing power in race against the US

The plan, released by six departments in Beijing including the Ministry of Industry and Information Technology (MIIT), has set a target for China's total computing power to reach 300 EFLOPS by 2025