Month: May 2021

(Xinhua)10:54, January 07, 2021

BEIJING, Jan. 6 (Xinhua) — China on Tuesday implemented a ban on imports of poultry and related products from France, where an outbreak of the highly pathogenic H5N8 avian influenza has been reported.

From Jan. 5, it is forbidden to send or bring French poultry and related products to China, and any such items shall be returned or destroyed, according to a joint statement released on Wednesday by the General Administration of Customs and the Ministry of Agriculture and Rural Affairs.

The statement also urged Chinese customs and animal disease prevention and control agencies to step up guard against such imports.

(Xinhua)13:15, January 07, 2021

TOKYO, Jan. 7 (Xinhua) — Tokyo stocks were higher early Thursday afternoon, with the benchmark Nikkei stock index extending gains having reached its highest intraday level since August 1990 on hopes of additional stimulus in the United States.

As of 12:45 p.m., the 225-issue Nikkei Stock Average added 458.65 points from Wednesday to 27,514.59.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, gained 35.31 points at 1,831.49.

All industrial categories gained ground, led by iron and steel, nonferrous metal and insurance issues.

Stocks were firm from the morning bell as investor sentiment was bolstered by reports projecting that Democrats won two Senate runoff elections in Georgia.

In doing so, control of the upper chamber has been handed to the Democrats, meaning their agenda of further stimulus to underpin the pandemic-hit economy as well as infrastructure spending, is hoped to speed up the recovery of the worlds largest economy.

Shares advanced on the back of receding political risks and U.S. stimulus hopes, Toshikazu Horiuchi, equity strategist at IwaiCosmo Securities Co., was quoted as saying.

Financial issues gained ground, following higher bond yields, with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group all advancing further into positive territory.

(Xinhua)08:57, January 08, 2021

BEIJING, Jan. 7 (Xinhua) — China on Thursday lowered the upper limit for non-financial firms cross-border financing amid efforts to rein in risks.

The macro-prudential adjustment parameter, a multiplier that is part of an equation deciding the upper limit of outstanding cross-border financing a company can have, has been revised down from 1.25 to 1 for non-financial firms, according to a circular issued jointly by the Peoples Bank of China and the State Administration of Foreign Exchange.

For companies that see their risk-weighted outstanding cross-border financing exceed the limit due to the revision, they will be allowed to hold the contracts inked before the change to maturity, said the circular.

The upper limit is basically decided by a non-financial firms net asset, and the leverage ratio for cross-border financing as well as the adjustment parameter set by regulators.

On Dec. 11, 2020, China lowered the macro-prudential adjustment parameter for financial institutions to 1 from 1.25, with the aim of further improving the macro-prudential management of cross-border financing and guiding the institutions to adjust their foreign debt structure.

(Chinadaily.com.cn)16:30, January 08, 2021

Chinas GDP is expected to grow about 8.5 percent in 2021, The Paper reported citing the Chinese Academy of Sciences on Friday.

The CASS predicated the growth will be faster at the beginning but slower in the rest of the year, with growth of around 16.3 percent in the first quarter, and 7.3 percent, 6.3 percent and 5.9 percent in the following three quarters.

Consumption will become a major economic driver in 2021, with year-on-year nominal growth between 10.7 percent and 11.7 percent, said Yang Cuihong, deputy head of the CASS Forecasting Science Research Center.

Predicted data show consumption, investment and net export are projected to pull up the GDP growth by 4.9, 3.3 and 0.3 percentage points respectively in 2021.

In addition to GDP, CASS expected the countrys foreign trade volume in 2021 will increase around 5.7 percent. Yearly per capita disposable income of rural residents will grow around 8.3 percent in real terms to reach 18,553 yuan ($2,869.38).

The country will see a mild price hike in 2021, according to data from the CASS, when the consumer price index will rise by about 1.1 percent, producer price index by 1.7 percent, and purchasing price index of raw material by 2.6 percent.

CASS projected a stable price for commercial residential buildings in the country. The added value of the industrial enterprises above designated size will grow by 9.3 to 9.9 percent, while the logistics prosperity index will stand at 51.17 percent.

(Xinhua)16:54, January 08, 2021

HONG KONG, Jan. 8 (Xinhua) — The free trade and investment agreements between Hong Kong and the Association of Southeast Asian Nations (ASEAN) will come into force in full on Feb. 12 when the part related to Cambodia took effect.

The government of Chinas Hong Kong Special Administrative Region (HKSAR) said in a statement Friday that the agreements greatly enhance business opportunities in ASEAN markets for Hong Kong enterprises and service providers.

The agreements, which were inked in 2017 and started entering into force since June 2019, have brought about legal certainty and better market access for Hong Kong enterprises, the government said.

The agreements are comprehensive in scope, covering trade in goods and services, investment, economic and technical cooperation, dispute settlement mechanisms.

ASEAN was Hong Kongs second-largest trading partner in goods trade in 2019 and the fourth largest in services trade in 2018.

Hong Kong has so far signed eight free trade agreements with 20 economies.

(Xinhua)15:50, January 03, 2021

Chinas steel firms registered a third consecutive monthly increase in exports in November, driven by rebounding demand in overseas markets, according to the Ministry of Industry and Information Technology.

The countrys steel exports rose 9 percent month on month to stand at 4.4 million tonnes in November and are expected to further increase in December, the ministry said.

The competitive advantages of Chinas steel prices in the international market and the pick-up of overseas demand contributed to the increase in Chinas steel exports, according to the ministry.

China exported about 48.83 million tonnes of steel in the first 11 months, down 18.1 percent year on year, while the countrys imports jumped 74.3 percent year on year to 18.86 million tonnes during the same period.

The countrys iron ore imports rose 10.9 percent year on year to 1.07 billion tonnes in the January-November period, exceeding the amount imported in the whole of 2019, the ministry added.

(Xinhua)15:54, January 03, 2021

Chinas cross-border e-commerce transactions are estimated to reach 20.5 trillion yuan (about 3.15 trillion U.S. dollars) in 2022, according to a report.

The countrys cross-border e-commerce sector has expanded rapidly in recent years, with small and medium-sized e-commerce platforms maintaining an annual growth rate of 30 percent, according to a report from the National Intellectual Property Administration.

Cross-border e-commerce platforms have played a prominent role in ensuring anti-COVID-19 supplies and providing international assistance amid the pandemic, the report noted.

As the sector continues to flourish, the report calls for global efforts to protect intellectual property rights to ensure smooth cross-border e-commerce transactions.

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(Xinhua)12:47, January 03, 2021

The number of China-Europe freight trains entering and leaving via Horgos Port in northwest Chinas Xinjiang Uygur Autonomous Region exceeded 4,720 in 2020, a record high despite the impact of COVID-19, customs authorities said.

The number represents a 43-percent increase as compared with 2019.

China-Europe freight train services have been favored by an increasing number of companies during the pandemic thanks to their low prices, large transportation capacity, and great stability and connectivity, said Long Teng with the Horgos Customs.

Miao Xiaochang, manager of a Horgos-based transportation company, said his firm had witnessed an increase in both imports and exports last year. In 2021, Miao said his company expects to further expand businesses, with an aim of dealing with 1,500 China-Europe (Central Asia) freight trains, up from 800 trains of last year.

Horgos Port launched the China-Europe freight train service in 2016 and has since witnessed a steady rise in the number of trains passing through it. At present, 21 lines are running through the port.

To meet the demand and ensure smooth international transport services, Horgos customs has optimized the handling process, shortened the loading time and streamlined customs clearance.

Horgos, literally meaning a place where caravans pass, used to be a trading post along the northern route of the ancient Silk Road.

The Belt and Road Initiative proposed in 2013 has provided Xinjiang with a significant opportunity to open up and boost economic cooperation between China and other countries thanks to its geographic advantages.

(Xinhua)09:45, January 04, 2021

URUMQI, Jan. 3 (Xinhua) — A record number of 9,679 inbound and outbound China-Europe freight trains passed through northwest Chinas Xinjiang Uygur Autonomous Region in 2020, according to China Railway Urumqi Group Co. Ltd.

The number of trains traveling through Alataw Pass reached 5,027 in 2020, up 41.8 percent year on year, while those through Horgos Port totaled 4,652, up 37 percent year on year.

Sources with the company said a large quantity of goods previously transported to Europe via air and sea shifted to the China-Europe freight train last year.

Local railway authorities expanded the capacity of the Alataw Pass and th Horgos Port and optimized the operation of production in 2020. Through better coordination among railway, customs, border control authorities as well as Kazak authorities, the time a train needed to pass the border was reduced to less than one hour from 10 hours, the sources said.

Currently, 22 lines run through Alataw Pass, reaching 13 countries including Germany and Poland, and 16 lines travel through Horgos Port to over 10 countries including Uzbekistan.

(Chinadaily.com.cn)16:16, January 04, 2021

Chinas three telecom carriers said on Monday morning that they regret the New York Stock Exchanges decision to delist their securities, adding that they have complied strictly with the laws and regulations as well as regulatory requirements of their listing venues.

The comments came after NYSE said on its official website on Thursday that it had decided to commence proceedings to delist China Telecom Corporation Ltd, China Mobile Ltd and China Unicom (Hong Kong) Ltd to comply with a US government order.

The three companies said in separate statements that they have not yet received written notices from the NYSE to delist their American Depositary Receipts (ADRs) as of the time when their announcement were posted.

China Telecom, China Mobile and China Unicom said they will promptly conduct investigations and analysis and strengthen their communication and liaison with the regulatory authorities of their listing venues, to protect the lawful rights of themselves and holders of their securities.

The NYSEs decision and actions could increase volatility in the trading volumes and affect the prices of their securities, they added.

China Securities Regulatory Commission said on Sunday night that the delisting of three Chinese companies under a US government order disregarded related companies actual conditions and global investors legitimate rights and interests and severely disrupted market order.

Having issued American Depositary Receipts (ADRs) and been listed on the NYSE for nearly or over two decades, the three Chinese firms have complied with the rules and regulations of the US securities market, and are widely acknowledged by investors worldwide, the spokesperson for China Securities Regulatory Commission said.

The commission will firmly support the three firms to protect their rights and interests, and believes that they will handle the adverse impacts appropriately, said the spokesperson.

Some US politicians, at the cost of damaging the global status of their own capital market, have recently made moves to suppress US-listed foreign companies constantly. These moves showed the randomness, arbitrariness and uncertainty of the countrys rules and regulations, and were therefore unwise, the spokesperson said.

We hope the US sides will respect the market and the rule of law, and do more to protect the order of the global financial market, safeguard investors lawful rights and interests and promote the steady development of the world economy, the spokesperson added.