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China

Cultural relics seized by customs exhibited in Sichuan Museum

An exhibition of 251 cultural relics seized by the customs of Chengdu, capital of southwest China’s Sichuan Province, was launched in the Sichuan Museum on Tuesday. The exhibition was jointly organized by the Chengdu Customs and the provincial cultural relics bureau. These cultural relics, including copper Buddha statues, Thangka, calligraphy and painting, ceramics and ancient coins, were selected from over ... Read More »

East China customs seizes 58 endangered cactus seedlings

Qingdao Customs in east China’s Shandong Province said Thursday that it had seized 58 cactus seedlings in several inbound parcels sent from Germany and Italy. The cactus seedlings were identified as species covered by the Convention on International Trade in Endangered Species of Wild Fauna and Flora. Qingdao Customs discovered seven suspicious postal parcels during an inspection and later found ... Read More »

China’s crude oil imports off record highs in Dec, 2019 imports rise 9.5%

According to the latest trade data published by China’s General Administration of Customs, China’s crude oil imports in December eased from a record set a month earlier, however, 2019’s oil imports rose nearly 10% on an annualized basis, as cited by Reuters. “December arrivals were 45.76 million tonnes. That was equivalent to 10.78 million barrels per day (bpd) according to ... Read More »

China-Pakistan FTA Phase-II: Reduced Tariffs, New Safeguard Measures

On December 1, 2019, the Protocol to Amend the Free Trade Agreement between China and Pakistan entered into force, making substantial revisions to the China-Pakistan Free Trade Agreement (CPFTA) first signed in November 2006. (The full text of the protocol can be found here in English and here in Chinese). The Amending Protocol, also known as Phase-II of the CPFTA, ... Read More »

China Eases Customs Curbs For Soy Imports Through Northern Border

China has eased customs regulations on imports of soybean through some northern border checkpoints, the commerce ministry said, a move that could smooth the way for shipments from neighbours such as Kazakhstan, Russia and perhaps Ukraine. The changes come as China looks to diversify soybean imports amid trade tension with the United States, its second largest supplier of the oilseed, ... Read More »

China Customs Grants Market Access to Mexican Bananas

Earlier this month, China’s General Administration of Customs issued a “Notice on Quarantine Requirements for Import of Bananas from Mexico” on its official website. According to the notice, Mexican bananas meeting the specified requirements would be allowed into the country effective immediately. The notice also detailed the quarantine requirements for the import of Mexican banana plants. According to reports, in ... Read More »

Chinese customs seizes tree pests

NANJING, Dec. 26 (Xinhua) — Customs authorities in east China’s Jiangsu Province said Thursday customs officers had intercepted several kinds of pests from a Panamanian vessel. One of the pests is Platypus cavicepts, an alien species intercepted by Chinese customs for the first time, according to sample tests sent by the Nantong Customs to the Chinese Academy of Inspection and ... Read More »

China to cut import tariffs on 850 products starting January 1

China on Monday morning announced it would cut import taxes on a range of products starting January 1. According to the state news agency Xinhua, China’s Customs Tariff Commission of the State Council said the move was aimed at promoting a “high-quality development of trade.” “The adjustments will be made to expand imports, promote the coordinated development of trade and ... Read More »

China announces new tariff exemptions for US chemical and oil products

China on Thursday unveiled a new list of import tariff exemptions for six chemical and oil products from the United States, days after the world’s two largest economies announced a phase one trade deal. The exemptions will be for one year from Dec. 26, the Finance Ministry said, without providing a value for the imports excluded from duties. Duties already ... Read More »

Pak-China customs authorities agree to extend cooperation

ISLAMABAD : Chinese Customs Delegation visited FBR and held detailed meetings with Pakistan Customs on 10-11 December to further cooperation between the Customs Authorities of the two governments. General Customs Administration of China and Pakistan Customs under the FBR are actively involved in cooperation, information exchange, and enforcement coordination. In pursuance of the shared objectives, delegates from both the Customs ... Read More »

Russia & China project trade to hit $110bn this year

Beijing expects trade turnover with Moscow to surpass $110 billion in 2019, setting a new record for trade volume between the two countries, according to a Chinese Ministry of Commerce (MOC) forecast. From January to November, mutual trade between Russia and China stood at 100.32 billion, which is 3.1 percent more than in the same period last year. A new ... Read More »

China Soy Imports Rise to Three-Month High as U.S. Cargoes Cleared

Soybean imports by China rose to the highest level in three months after port congestion eased and more American beans cleared customs. China bought 8.28 million tons last month, the most since August, according to customs data released on Sunday. That’s up 34% from October and 54% from a year ago. Imports from January to November fell 4.1% from a ... Read More »

China working on waiving tariffs on some imports of US soybeans, pork

New Delhi : China is looking to implement tariff waivers on some purchases of soybeans and pork from the US, China’s Customs Tariff Commission of the State Council announced Friday. However, this may not mean a rise in purchases from the US, sources told S&P Global Platts. China in 2018 imposed retaliatory tariffs on several import items from the US, ... Read More »

China’s Trade With Iran Declines By Close To 40 Percent in 2019

The latest figures published by China’s customs show trade with Iran in October dropped to its lowest level in a decade. During the month of October, total trade with Iran was $1.38 billion, which is 38 percent less than in October 2018. From January to October exports to Iran decreased by 39 percent compared with the same period last year, ... Read More »

China Oct LNG imports fall 12% on year to 4 mil mt

China’s imports of LNG fell 11.5% year on year to 4.04 million mt in October, and were down 20.7% month on month, S&P Global Platts calculations based on latest data from the General Administration of Customs showed Tuesday. Market sources attributed the decline to a domestic economic slowdown, a long shutdown at PetroChina’s Rudong LNG terminal, the relaxation of China’s ... Read More »

China’s imports of Saudi Arabian crude hit new high

China’s crude imports from Saudi Arabia surged 76% year on year to hit new high of 1.99 million b/d in October, while there were no arrivals from Venezuela in the month, according to the latest data from the General Administration of Customs showed Monday. Saudi Arabia delivered 8.41 million mt of crude oil into China in October, despite the expectation ... Read More »

China wants a US trade deal ; but will fight back if necessary, says President Xi Jinping

China wants to reach an interim trade deal with the United States but it will not shy away from retaliation if necessary and will never let its “humiliating” history repeat itself, President Xi Jinping said on Friday. It was the Chinese leader’s first public comment on the prospects of an interim – or “phase one” – deal between the two ... Read More »

China’s COSCO Invests in Largest Greek Port With Expansion Plans for Biggest European Port

Greece’s Prime Minister Kyriakos Mitsotakis announced an agreement for Chinese state-owned shipping firm COSCO to invest and expand the Port of Piraeus into Europe’s largest port. Chinese leader Xi Jinping and his wife landed in Athens on Nov. 10 for a state visit between the countries. The visit culminated with the signing of an agreement for China Ocean Shipping Company ... Read More »

Rather than decouple, US, China businesses look for ways to collaborate

GUANGZHOU, China — For some big companies, U.S.-China business ties are still holding up, despite worries that trade tensions will cause the two economies to decouple. The biggest change for Microsoft in the last year is having more opportunities than before in the Chinese market, particularly for Chinese companies wanting to go abroad, said Alan Crozier, chairman and CEO of ... Read More »

China stands firm on demand US lifts tariffs to reach trade war deal

China is sticking firm to its demand that the US remove tariffs as talks on an interim trade deal continues, the Ministry of Commerce said on Thursday. Ministry spokesman Gao Feng said the trade war between the two nations started with the imposition of tariffs and it should end with their removals. “That is the important condition for reaching the ... Read More »