The China Shipowners' Association opposes a U.S. proposal to slap hefty port entry fees on ocean cargo carriers that own or have ordered vessels from China, saying it violates international rules and U.S. laws, according to a statement seen by Reuters on Thursday. U.S. President Donald Trump's administration aims to partially pay for an American shipbuilding comeback with those fees, according to a draft executive order seen by Reuters. The CSA's members include China's COSCO Shipping, which is expected to be among the hardest hit by the fees proposed by the U.S.
Read more
Zhengzhou Exchange on Tuesday raised the trading margin requirements for some rapeseed meal futures contracts to 9% from 7% after Beijing's 100% tariff on Canadian imports triggered a two-day rally that pushed prices to a five-month high, Reuters reported. The most active rapeseed meal futures contract surged 7.23% to close at 2,684 yuan per metric ton, building on a 6% gain in the previous session, to its highest since September 2024. The new trading margin requirements will be effective from settlement on March 12.
Read more
Chinese tariffs as high as 15% on a range of US agricultural goods take effect Monday, potentially exacerbating a trade dispute between the world’s two largest economies, Bloomberg News reported. The levies announced last week are far-reaching, touching commodities from beef and poultry to grains. Along with the tariffs, Beijing also said it would completely suspend soybean imports from three US entities and also halted purchases of American logs. Beijing’s move came after the Trump administration doubled a blanket tariff on all Chinese exports.
Read more
China’s consumer inflation dropped far more than expected to fall below zero for the first time in 13 months, an assessment skewed by seasonal distortions but also a sign of deflationary pressures persisting in the economy, Bloomberg News reported. The consumer price index declined 0.7% from a year earlier, the National Bureau of Statistics said Sunday, compared with a 0.5% gain in the previous month. That was lower than all but one forecast in a Bloomberg survey of analysts, whose median estimate was for a 0.4% drop.
Read more
China's Evergrande Property Services Group said on Friday that it expects to record a decrease of up to 37% in its annual profit for the year ended December 31, 2024, due to legal expenses related to a deposit pledge, among other reasons, Reuters reported. In early January, a Guangzhou city court ordered the firm's parent China Evergrande to repay pledge guarantees on deposit certificates totalling 13.4 billion yuan ($1.85 billion).
Read more
China submitted a revised request for dispute settlement consultations with the United States to address new U.S. tariffs applied on goods originating in China, the World Trade Organization said on Wednesday, Reuters reported. The Trump administration's latest tariff hike on Chinese imports has heightened fears of a renewed trade war between the U.S. and China, the world's two largest economies. China's revised request comes after an extra 10% duty on Chinese goods took effect Tuesday, adding to the 10% tariff imposed by U.S. President Donald Trump on February 4.
Read more
Spurring reluctant Chinese consumers to spend has been elevated to the top of Beijing's to-do list for 2025, leap-frogging technology and industrial production, as lawmakers look to rectify imbalances in the world's second-largest economy, Reuters reported. Chinese Premier Li Qiang's report on Wednesday to the annual meeting of the country's parliament on major tasks for 2025 promised a "special action plan" for vigorously boosting consumption and stimulating domestic demand as the country set a roughly 5% growth target for 2025.
Read more
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
Country Garden Holdings Co.’s sales slump continued in February, as new home transactions saw only a tepid recovery across China and homebuyers shifted to state builders, Bloomberg News reported. Contracted sales dropped 38% from a year earlier to 2.3 billion yuan ($317 million), following a 59% year-on-year drop in January, Bloomberg calculations based on corporate filings show. Sales were little changed from the previous month. China is trying to put a floor under the real estate meltdown amid weak domestic demand and a worsening job situation.
Read more