China 

China to collect applications for scrap metal import licences from next month, trade group says

Chinese authorities will start accepting applications for licences to import unspecified quantities of soon to be restricted types of scrap metal from late May, the recycling branch of the China Non-ferrous Metals Industry Association said.The world’s top metals consumer has been clamping down on scrap imports as part of a campaign against foreign solid waste, leaving overseas scrap exporters scrambling to find other markets.Imports of low-grade copper scrap such as coiled cable and waste… Source link

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Global 

China leaders vow to reform, not to stimulate, economy as trade deal with US nears

China’s senior communist leaders have congratulated themselves on saving the country’s economy from a hard landing during a trade war with the United States and they have decided to focus on “structural reforms”, instead of stimulus, to move the economy forward.The Politburo, the 25-member ruling body of the country headed by President Xi Jinping, reviewed China’s growth in the first quarter on Friday and concluded that market confidence has returned and economic performance was “better than… Source link

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Home 

China’s exporters fear heyday is over amid sour mood at Canton Fair as US-China trade war lingers

The optimism expressed by officials from China and the United States suggesting the trade war is almost over has not trickled down to small exporters exhibiting their products at China’s largest export fair, who fear that, with or without a deal, the heyday for Chinese exports is over.Exporters at the Canton Fair in Guangzhou, the country’s biggest export exhibition held in every spring and autumn, remain cautious over the outlook for US-China trade relations and the prospects for selling… Source link

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Home 

China sees brighter outlook for yuan and foreign investment as US-China trade war deal nears

The odds of capital exodus from China and of a slide in the value of the yuan exchange rate have diminished thanks to China’s steady domestic growth, progress in trade talks with the United States and the decision by the US Federal Reserve to halt its interest rate increases, China’s foreign exchange regulator said on Thursday.The US Federal Reserve’s announcement that it no longer plans to raise interest rates this year will mean that the difference between US and Chinese interest rates will… Source link

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China 

China consumer spending ‘not fully recovered’ from US-China trade war despite improving sentiment

Chinese consumer spending “stabilised but has not fully recovered” in the first quarter of the year even though overall economic growth was stronger than expected due to Beijing’s stimulus measures, according to a China investment strategist and former US diplomat.The nominal growth rate of household consumption actually slowed further to 7.3 per cent, down from 8.0 per cent in the fourth quarter and 7.6 per cent in the first quarter a year ago.But gross domestic product, fixed asset investment… Source link

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China 

FCC set to block China Mobile bid to provide US services, marking another hot spot in trade war

Federal Communications Commission chairman Ajit Pai said on Wednesday he opposes China Mobile’s bid to provide US telecommunications services, citing security risks, and said the commission will vote on whether to deny the company’s application in May.China Mobile is seeking approval to provide services for phone calls between the United States and other countries. It is not seeking approval to provide wireless services to US consumers.According to the FCC, China Mobile USA, which filed the… Source link

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China 

Chinese and US companies fear Donald Trump’s trade war on the car industry

This story is part of an ongoing series on US-China relations produced jointly by the South China Morning Post and POLITICO, with reporting from Asia and the United States.Jack Sun’s company does not sell directly to the United States but if US President Donald Trump decides to slap tariffs on the global car industry, suppliers such as Sun’s machinery firm would be right in the line of fire.Qingdao Ray Machinery and Technology, a 30-person operation based in northeast China, exports moulds and… Source link

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China 

China economy off to strong start in 2019 as stimulus steps offset trade war impact

China’s economy is off to a robust start this year, defying fears of a sharp slowdown, with Beijing’s pro-growth efforts successfully offsetting the effects of the trade war with the United States.China’s gross domestic product (GDP) expanded 6.4 per cent in the first quarter compared a year earlier, the National Bureau of Statistics reported on Wednesday, beating analysts’ expectations of 6.3 per cent growth and remaining at the top end of Beijing’s target growth range of 6.0 to 6.5 per cent… Source link

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Vietnam 

Leading garment-makers to display goods at Hong Kong’s largest trade show – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HCM CITY — More than 30 leading Vietnamese manufacturers of garments, textiles, handicrafts and fashion accessories will be showcasing their products at one of Asia’s largest exhibitions to be held in Hong Kong at the end of this month.  Goods to be displayed at the show include apparel, fashion jewelry, underwear, swimwear, bags, luggage, scarves, footwear and fabrics all under one roof. The four-day Global Sources Fashion show will feature verified suppliers from major fashion manufacturing hubs, including Việt Nam, China, Hong Kong, Taiwan, South Korea, Bangladesh, India, Indonesia and…

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VN, Nigeria eye closer investment, trade ties – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HCM CITY — There is great potential for trade between Việt Nam and Nigeria and investment in many sectors like agriculture, agricultural processing, garment, footwear, mining, and production of construction materials, a bilateral trade and investment forum heard in HCM City yesterday. Speaking at the forum, Nguyễn Thế Hưng, deputy director of the Việt Nam Chamber of Commerce and Industry (VCCI)’s HCM City branch, said many African countries, including Nigeria, had become increasingly important economic partners of Việt Nam. Trade between Việt Nam and Nigeria has shot up from US$250 million…

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