DIRS.INFO The most relevant business & tech news

☆ China’s largest oil supplier in 2023 was Russia
▼ + stars: | 2024-01-22 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Russia surpassed Saudi Arabia to become China’s largest oil supplier in 2023, according to the latest Chinese customs data. That helped Russia overtake Saudi Arabia as China’s largest crude oil supplier for the year. The Middle East country shipped 85.96 million metric tons of crude oil to China in 2023, down 2% from 2022. Russia now accounts for 19% of China’s oil imports, while Saudi Arabia makes up 15%. Russia became China’s largest oil supplier eight years ago, but it fell behind Saudi Arabia between 2019 and 2021, when the Gulf nation boosted its energy trade with Beijing.

Persons: ”, Vandana Hari, Hari, That’s, Xi Jinping, Mikhail Mishustin, ” Xi, Xi Organizations: Hong Kong CNN —, China’s, Administration, Customs, West, Vanda Insights, Saudi, Moscow, Russian, Xinhua Locations: Hong Kong, Hong Kong CNN — Russia, Saudi Arabia, Ukraine, China, Russia, Gulf, Beijing, Moscow, India, Singapore, Iraq, leapfrog, The, Saudi

☆ Trade between China and Russia ballooned to a record $240 billion last year
▼ + stars: | 2024-01-15 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

China's trade with Russia jumped 26% to a record $240 billion last year, according to customs data published Friday. The ties between the two countries have strengthened since Russia invaded Ukraine in February 2022. AdvertisementTrade between China and Russia ballooned to a new record last year with the economic ties between Beijing and Moscow strengthening even as the war in Ukraine rages on. Dollar-denominated commerce between the two countries climbed 26% from $190 billion to $240 billion in 2023, data published by China's General Administration of Customs on Friday showed. "Ideological confrontation, geopolitical rivalry and bloc politics are not the choice for us, but we stand against economic sanctions, economic coercion, and decoupling and supply chain disruptions," he said.

Persons: —, Brent, Xi Jinping, Vladimir Putin Organizations: Service, China's, Administration, Customs Locations: Russia, Ukraine, China, Beijing, Moscow, Kremlin, Refinitiv, Washington

☆ China’s double whammy: Exports fell for the first time in 7 years, as domestic demand dips
▼ + stars: | 2024-01-12 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Exports for the year as a whole fell for the first time since 2016 as global demand for Chinese-made goods (other than cars) slowed, according to customs data released on Friday. Exports measured in US dollar terms stood at $3.38 trillion in 2023, down by 4.6% compared to the year before. The last time China registered a decline in overseas shipments was in 2016, when exports fell 7.7%. “Sluggish external demand has hit China’s exports.”He expects China will continue to face “difficulties” on export markets as global demand is likely to remain weak and “protectionism and unilateralism” hinder growth, he added. The United States remained China’s largest single-country trading partner in 2023, accounting for 11.2% of total trade.

Persons: ” Lyu, ” Goldman Sachs, Price, won’t, ” Organizations: Hong Kong CNN, National Bureau of Statistics, Imports, Administration of Customs, Bloomberg, Getty, PPI, Capital Economics, AFP, ASEAN, European Union Locations: China, Hong Kong, Beijing, Russia, United States, Washington, Taicang Port, China's, Jiangsu, Southeast Asia, That’s, “, Japan

☆ In northeast China, Russian and Chinese firms ink deals from manufacturing to agriculture
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Russian President Vladimir Putin shakes hands with Chinese President Xi Jinping during a meeting at the Belt and Road Forum in Beijing, China, October 18, 2023. Sputnik/Sergei Guneev/Pool via REUTERS/File Photo Acquire Licensing RightsBEIJING, Oct 23 (Reuters) - Chinese and Russian companies attending a regional conference in northeastern China signed a raft of cooperation deals on Monday in sectors ranging from manufacturing and logistics to e-commerce and agriculture, Chinese state media reported. The conference in Shenyang, the capital of Liaoning province, followed last week's meeting in Beijing between Russian President Vladimir Putin and China's President Xi Jinping. Russian local government officials, business representatives as well as nearly 800 Chinese companies hoping to enter the Russian market were attending the conference. In January to September, 40 Russian firms set up businesses in Liaoning, China's national broadcaster reported on Monday.

Persons: Vladimir Putin, Xi Jinping, Sergei Guneev, Xi, Ryan Woo, Ellen Zhang, Simon Cameron, Moore Organizations: Forum, Sputnik, Rights, West, China's, Chinese, Administration of Customs, Thomson Locations: Beijing, China, Rights BEIJING, Shenyang, Liaoning province, Russia, Ukraine, Liaoning, Heilongjiang, Jilin, Vladivostok, Russian, Zhoushan, Zhejiang

☆ China restricts exports of graphite as it escalates a global tech war
▼ + stars: | 2023-10-20 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

“At the moment both China and Western countries are engaged in a tit for tat, highlighting how protectionist measures often spread. China, which dominates the world’s production and processing of graphite, says export permits will be needed, starting in December, for synthetic graphite material — including high-purity, high-strength and high-density versions — as well as for natural flake graphite. China was the world’s leading graphite producer last year, accounting for an estimated 65% of global production, it said. Gallium, germanium restrictionsThe export curbs were announced as China faces pressure from multiple governments over its commercial and trade practices. In July, Beijing imposed export restrictions on gallium and germanium, two minerals essential for making semiconductors.

Persons: ”, Stefan Legge, carmakers, Ivan Lam Organizations: Hong Kong CNN, Ministry of Commerce, Administration, Customs, “, University of St, Institute for Energy Research, EV, International Energy Agency, Geological Survey, Counterpoint Research, US Department of Energy Locations: China, Hong Kong, United States, University of St Gallen, Switzerland, Washington, DC, Europe, Asia, Beijing, Russia, Ukraine

"There's increasing evidence that the cyclical upturn in the global electronics sector is driving a bottoming-out of global trade and China's trade data is the latest sign," said Xu Tianchen, senior economist at the Economist Intelligence Unit. Reuters GraphicsSouth Korean exports to China, a leading indicator of China's imports, fell at their slowest pace in 11 months in September. Semiconductors make up the bulk of their trade, signalling improving appetite among Chinese manufacturers for components to re-export in finished goods. However, Lv Daliang, spokesperson of the General Administration of Customs, said at a press conference on Friday that China's trade still faces a complex and severe external environment. Overall, though, total merchandise imports fell at a slower pace, down 6.3%, reflecting a gradual recovery in domestic demand.

Persons: Smart, David Kirton, Xu Tianchen, it's, Julian Evans, Pritchard, Zou Lan, Premier Li Qiang, Li, Robert Carnell, Kevin Yao, Albee Zhang, Shri Navaratnam, Kim Coghill Organizations: Trade, REUTERS, Economist Intelligence Unit, Reuters Graphics South, Semiconductors, Administration of Customs, ASEAN, Federal Reserve, China Economics, Capital Economics, People's Bank of, Premier, Bloomberg, ING, Thomson Locations: Qianhai, Shenzhen, Guangdong, China, BEIJING, United States, Europe, Stocks, People's Bank of China, Beijing, Asia, Pacific

☆ China's economic partnership with Russia is so lopsided that Putin needs the help of the US — but he'd never admit that, think tank says
▼ + stars: | 2023-10-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Russia's "no limits" partnership with China is hurting its own economy, one think tank says. The think tank says the relationship is so imbalanced that Russia may need the US's help — though Putin would never admit it. But the think tank argues that much of the partnership has been more to Beijing's benefit than it has been to Moscow. Though China is one of Russia's only reliable trading partners at the moment, the nation has neglected to make major investments in Russia, Graham noted. And Russia's economy now appears to be so dependent on China, that the nation needs the help of the US to counterbalance it, Graham said.

Persons: —, Putin, Thomas Graham, Graham, Xi Jingping Organizations: Service, Foreign Relations, Kremlin, Foreign Affairs, Russia, Administration of Customs, Central Intelligence Agency, US Defense Intelligence Agency, Economic Forum Locations: China, Russia, Beijing, Moscow, York, Ukraine, Asia, India, Western, United States

☆ China’s narrowing trade slump boosts recovery prospects, but challenges persist
▼ + stars: | 2023-10-13 | by ( ) edition.cnn.com time to read: +4 min

“There’s increasing evidence that the cyclical upturn in the global electronics sector is driving a bottoming-out of global trade and China’s trade data is the latest sign,” said Xu Tianchen, senior economist at the Economist Intelligence Unit. South Korean exports to China, a leading indicator of China’s imports, fell at their slowest pace in 11 months in September. However, Lv Daliang, spokesperson of the General Administration of Customs, said at a press conference earlier on Friday that China’s trade still faces a complex and severe external environment. Yet, authorities can take some comfort from recent data including upbeat factory activity and retail sales while the past Golden Week holiday travel edged up 4.1% from pre-pandemic 2019 levels. Most analysts have been reiterating in recent months that policymakers will need to go further than introducing piecemeal measures in order to bolster the economic recovery.

Persons: ”, Xu Tianchen, Headwinds, it’s, Robert Carnell, “ Organizations: Beijing Reuters —, Economist Intelligence Unit, Semiconductors, Global, Administration of Customs, Bloomberg, ING Locations: Beijing, China, Asia, Pacific

"There's increasing evidence that the cyclical upturn in the global electronics sector is driving a bottoming-out of global trade and China's trade data is the latest sign," said Xu Tianchen, senior economist at the Economist Intelligence Unit. Reuters GraphicsSouth Korean exports to China, a leading indicator of China's imports, fell at their slowest in 11 months in September. Global trade activities, represented by the Baltic Dry Index, also reported notable growth in September. However, Lv Daliang, spokesperson of the General Administration of Customs, said at a press conference earlier on Friday that China's trade still faces a complex and severe external environment. China's crude oil imports in September grew nearly 14% from a year earlier, while copper imports fell 5.8% year-on-year.

Persons: Smart, David Kirton, Xu Tianchen, it's, Robert Carnell, Albee Zhang, Shri Navaratnam Organizations: Trade, REUTERS, Economist Intelligence Unit, Reuters Graphics South, Semiconductors, Global, Administration of Customs, ASEAN, Federal Reserve, Bloomberg, ING, Thomson Locations: Qianhai, Shenzhen, Guangdong, China, BEIJING, United States, Europe, Stocks, Beijing, Asia, Pacific

☆ China's export, import growth with Russia quickens in September
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Stringer/File photo Acquire Licensing RightsBEIJING, Oct 13 (Reuters) - The growth of China's exports and imports with Russia on a year-on-year basis quickened in September from August, China's customs data showed on Friday, as it urged deeper trade ties with its neighbour despite the disapproval of the West. Chinese shipments to Russia rose 21% to $9.6 billion in September from a year earlier, accelerating from 16% growth in August, Reuters calculations based on customs data showed. Imports from Russia rose 8% to $11.53 billion last month after rising 3% in August. Under Western sanctions, Russia has turned to China for economic support, benefiting from Chinese demand for oil, gas and grain. China also cleared the way for imports of pork from regions of Russia without African swine fever, Chinese customs said recently.

Persons: Stringer, Wang Wentao, Vladimir Putin, Ryan Woo, Ellen Zhang, Robert Birsel Organizations: REUTERS, Rights, Imports, Chinese, Administration of Customs, Commerce, Beijing, Thomson Locations: Qingdao, Shandong province, China, Rights BEIJING, Russia, Ukraine, Russian, China's

Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. Reuters' analysis of China's savings on oil purchases from the three sanctioned countries compares what Chinese importers would have paid by purchasing similar grades from non-sanctioned producers. For imports of Venezuelan oil, mostly heavy grade Merey, China saved an average of $10 a barrel versus comparable Colombian Castilla crude, the calculations based on the trader data showed. With January-September inflows of Venezuelan oil at around 430,000 bpd, according to the average of the Vortexa and Kpler data, China's savings from buying Venezuelan oil was $1.17 billion. TEAPOT MARGINSWith state refiners Sinopec and PetroChina refraining entirely from buying Iranian and Venezuelan crude, teapots have feasted on discounted oil from the two suppliers.

Persons: Aly, Kang Wu, Brent, Viktor Katona, Chen Aizhu, Muyu Xu, Tony Munroe Organizations: REUTERS, refiners, Reuters, P, Administration, Customs, Vortexa, Russia's, Castilla, Brent, U.S . State Department, U.S ., Thomson Locations: Zhuhai, China, Russia, Iran, Venezuela, SINGAPORE, United States, Moscow, Tehran, Caracas, East, West Africa, South America, Beijing, Kpler, Kozmino, Baltic, Ukraine, Europe, India, Brazil, Urals, Oman, U.S, Venezuelan, teapots, Shandong, Israel

☆ China's diesel exports surge in August, have nearly tripled so far in 2023
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +3 min

Total diesel exports for the first eight months of the year are up 197.2% versus the same period in 2022. Gasoline exports were up 23.7% to 1.38 million tons from 1.12 million tons in August last year. Jet fuel exports were 1.55 million tons, up 98.1% from 780,000 tons a year earlier. China's surging fuel exports have coincided with monthly refinery throughput rising to a record 15.23 million bpd in August. (This story has been corrected to say that domestic flight levels are around 17% above pre-pandemic levels, not 17% of pre-pandemic levels, in paragraph 7)Reporting by Andrew Hayley; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Stringer, refiners, Andrew Hayley, Christian Schmollinger Organizations: Dalian Airlines, REUTERS, Administration, Customs, Total, Domestic, Jet, Citi, Thomson Locations: Hohhot, Inner Mongolia, China, BEIJING

While domestic travel has rebounded, thereby lifting demand for gasoline and jet fuel, there are other factors at work driving China's crude imports. The question then becomes why did crude imports drop in July even though refinery processing rates remained robust? This means that China's crude imports in September may be robust, but arrivals from October onwards would have been bought at higher prices. The strength in coal imports is being driven by factors largely unrelated to the state of the economy. With crude oil, coal and iron ore all having dynamics separate to the overall state of China's economy, the commodity that appears most correlated with the outlook is copper.

Persons: Aly, Refiners, refiners, Brent, China's, Russia's, Christian Schmollinger Organizations: REUTERS, Rights, Administration of Customs, Imports, Reuters, Thomson Locations: Zhuhai, China, Rights LAUNCESTON, Australia, COVID, Saudi Arabia, OPEC, Russia, Ukraine, Beijing

REUTERS/Dado Ruvic/Illustration/Files Acquire Licensing RightsSummary Crude imports jump 30.9% from last year to 12.43 million bpdNatural gas imports up 22.7% from last yearRefined fuel exports rise month-on-monthBEIJING, Sept 7 (Reuters) - China's crude oil imports surged in August, customs data showed on Thursday, as refiners built inventories and increased processing to benefit from higher profits from exporting fuel. China's imports have increased from last year since domestic fuel demand is no longer being suppressed by widespread curbs to tackle the COVID-19 pandemic. However, the broader outlook for China's economy remains gloomy, with a weaker property sector and sluggish domestic consumption weighing on fuel demand. read moreAt the same time, oil product exports are rising as refiners cash in on rising profit margins from selling fuel overseas. Refined fuel exports last month rose to 5.89 million tons, customs said, up from 5.31 million tons in July and 23.3% than a year earlier.

Persons: Dado Ruvic, Xu Peng, Xu, Andrew Hayley, Tom Hogue Organizations: REUTERS, Administration, Customs, Citi, Thomson Locations: BEIJING, China, Beijing

LAUNCESTON, Australia, Aug 8 (Reuters) - China's imports of major commodities lost momentum in July in a further sign that the world's second-biggest economy is struggling to boost flagging growth. While June's imports were the second-highest on record, the July outcome was the weakest since October last year on a barrels per day basis. In the first seven months of 2023, China's copper imports slid 10.7% to 3.04 million metric tons. Iron ore imports dropped to 93.48 million metric tons in July, down 2.1% from June's 95.52 million. For the first seven months of the year China's coal imports came in at 261 million metric tons, some 86% above the same period in 2022.

Persons: It's, Brent, China's, Lincoln Organizations: Administration of Customs, Brent, Reuters, Thomson Locations: LAUNCESTON, Australia, China

☆ China’s Rebound Falters, Tripped Up by Debt and Weak Exports
▼ + stars: | 2023-07-16 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +5 min

China’s economy is flashing many warning signs. Weak spending is pushing China close to a dangerous trend known as deflation: Consumer prices are flat, and wholesale prices paid by companies are actually falling. “It’s not a strong recovery; the economy is quite weak,” said Wang Dan, the chief economist at Hang Seng Bank China. Some companies are also moving supply chains out of China, which will have a longer-lasting effect on exports, Mr. Fattal said. But a huge accumulation of debt, particularly at the level of local governments, has made that hard to do.

Persons: ”, Diana Choyleva, “ It’s, Wang Dan, Richard Fattal, Fattal, Lou Jiwei, Cui Dongshu, Fu Linghui, Lou, Ms, Wang, Li You Organizations: Enodo, National Bureau, Statistics, Investment, Hang Seng Bank China, National Bureau of Statistics, Administration, Customs, Companies, Workers, China, China Passenger Car Association Locations: Shanghai, London, China, Baoding, United States, Europe

BEIJING, July 13 (Reuters) - China's exports contracted last month at their fastest pace since the onset three years ago of the COVID-19 pandemic, as an ailing global economy puts mounting pressure on Chinese policymakers for fresh stimulus measures. Momentum in China's post-pandemic recovery has slowed after a brisk pickup in the first quarter, with analysts now downgrading their projections for the economy for the rest of the year as factory output slows in the face of persistently weak global demand. Outbound shipments from the world's second-largest economy slumped a worse-than-expected 12.4% year-on-year in June, data from China's Customs Bureau showed on Thursday, following a drop of 7.5% in May. Imports contracted 6.8%, steeper than an expected 4.0% decline and the previous month's 4.5% fall. With exports accounting for about one-fifth of the economy and the troubled property sector for about one-third, China's prospects have dimmed for a quick recovery after COVID-related lockdowns battered the economy in 2022.

Persons: Zichun Huang, Xu Tianchen, Li Qiang, Zhiwei Zhang, Joe Cash, Ellen Zhang, Edmund Klamann Organizations: Customs, . Imports, Reuters, Capital Economics, Administration of Customs, Exports, Economist Intelligence Unit, Management, Thomson Locations: BEIJING, China, Beijing, United States, Russia

☆ Oil prices rise on cooling US inflation, China trade data
▼ + stars: | 2023-07-13 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

SINGAPORE, July 13 (Reuters) - Oil prices climbed on Thursday after U.S. inflation and economic data sparked hopes that the Federal Reserve may have fewer interest rate hikes in store and Chinese trade figures showed monthly oil imports were the second-highest on record in June. Brent crude futures gained 21 cents, or 0.3%, to $80.32 per barrel by 0630 GMT, while U.S. West Texas Intermediate crude futures were up 13 cents, or 0.2%, at $75.88. U.S. data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years. Markets expect one more interest rate rise, but oil traders hope that may be it because higher rates can slow economic growth and reduce oil demand. Crude oil imports for January-June were up 11.7% at 282.1 million metric tons, while refined oil products exports for January-June were up 44.7% at 31.31 million metric tons, customs data showed.

Persons: Jun Rong, Yeap, Phil Flynn, Jeslyn Lerh, Laura Sanicola, Jamie Freed, Jacqueline Wong Organizations: Federal, Brent, U.S, West Texas, IG, Administration, Customs, U.S . Energy, Price Futures, Thomson Locations: SINGAPORE, U.S, Singapore, Washington

☆ China's June trade data is way down from a year ago, marking yet another big red flag for China's ailing economy
▼ + stars: | 2023-07-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China's exports tanked 12.4% in June from a year, Reuters reported, citing Chinese customs data. China's imports fell 6.8% in the same period. Both measures fell way short of economist expectations. After an initial spurt, China's economy has struggled to recover from three years of on-off COVID-19 lockdowns, pointing to a disappointing showing for the world's second-largest economy this year. China's economy grew 3% in 2022 and Beijing has set a 5% GDP growth target this year.

Persons: That's, Lu Daliang, Nomura, Robert Carnell, ING's Organizations: Reuters, Service, Administration of Customs, Administration, Customs, Asia Pacific Locations: Wall, Silicon, China, Beijing

NEW YORK, June 20 (Reuters) - Oil futures fell about 2% in choppy trading on Tuesday on forecasts for slower growth of oil demand in China, the world's second-biggest oil consumer, and disappointment with the size of cuts in China's key lending rates. "Oil traders may need to see a materialised strong economic rebound in China to improve their outlook on oil demand," said Tina Teng at CMC Markets in Auckland. Higher interest rates ultimately increase borrowing costs for consumers, which could reduce oil demand by slowing economic growth. A stronger dollar makes crude more expensive for holders of other currencies, which can reduce oil demand. On the supply side, Iran's crude exports and oil output have hit new highs this year despite U.S. sanctions.

Persons: Brent, Edward Moya, Tina Teng, Thomas Barkin, Scott DiSavino, Noah Browning, Katya Golubkova, Andrew Hayley, David Goodman, Matthew Lewis Organizations: YORK, . West Texas, CMC Markets, China, Administration, Customs, . Federal Reserve, Richmond Fed, U.S ., Organization of, Petroleum, Thomson Locations: China, U.S, Auckland, Russia, New York, London, Tokyo, Beijing

☆ China sees biggest trade increase with Russia in 2023, Chinese customs data shows
▼ + stars: | 2023-06-07 | by ( Philip Wang | ) edition.cnn.com time to read: +2 min

CNN —Bilateral trade between Russia and China totaled more than $93.8 billion from January to May in 2023, a 40.7% increase compared to the same period last year, data from China’s General Administration of Customs showed. The data published on Wednesday also showed that China’s exports to Russia have reached $42.96 billion since January 2023, a 75.6% increase compared to 2022. The numbers of total trade values and total exports have seen their biggest jumps since the start of Russia’s invasion of Ukraine, with Russia becoming China’s fastest-growing trade partner in the world. Taiwan, South Korea, New Zealand, and the US saw the biggest decrease across the globe, with Taiwan shrinking its trade with China by more than 25 percent. Last month, Russian Prime Minister Mikhail Mishustin said he expected trade between Russia and China would exceed $200 billion in 2023, CNN reported.

Persons: Mikhail Mishustin, Li Qiang, Mishustin, Xi Jinping, Vladimir Putin Organizations: CNN, Bilateral, China’s, Administration, Customs, Russian, Mishustin, Reuters Locations: Russia, China, Ukraine, Taiwan, South Korea, New Zealand, United States, Beijing

☆ China's exports to North Korea surge in April
▼ + stars: | 2023-05-20 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 20 (Reuters) - China's exports to North Korea soared in April from a year earlier, with wigs and fertiliser among major shipments, Chinese customs data showed on Saturday. Chinese outbound shipments to the isolated country surged 69% year-on-year to $166 million in April, data released by China's General Administration of Customs showed. The top export items in terms of value were processed hair and wool used in wigs, worth about $11.6 million, and diammonium hydrogen phosphate, a widely used fertiliser, worth $8.84 million. In January-April, Chinese exports to North Korea leapt to $603 million from $270.59 million a year earlier, according to the customs data. North Korea has long suffered from food insecurity and South Korea's DongA Ilbo newspaper reported in mid-February that Pyongyang's food crisis may have deteriorated.

☆ Chinese Exports Cool in Latest Warning Sign on Global Trade
▼ + stars: | 2023-05-09 | by ( Jason Douglas | ) www.wsj.com time to read: 1 min

A container terminal in Lianyungang, China, earlier this month. Photo: Cfoto/Zuma PressSINGAPORE—Chinese export growth slowed in April as global trade cooled, underlining the importance of domestic spending as the main engine of the nation’s economy after three years of strict Covid-19 controls. Exports rose 8.5% in April from a year earlier, China’s General Administration of Customs said Tuesday, faster than the 6% pace expected by economists polled by The Wall Street Journal but weaker than the 14.8% year-over-year jump recorded in March.

SINGAPORE, May 9 (Reuters) - China's imports of major commodities lost momentum in April as the strong start to the year faded amid uncertainty about the strength and composition of the recovery in the world's second-biggest economy. Crude imports were the lowest since January and the decline places a question mark over just how strong demand is in the world's largest oil importer. One factor worth noting is that China's exports of refined fuels also dropped sharply in April to 3.75 million tonnes, down 31.2% from 5.75 million tonnes in March. Part of the strength in China's crude imports in the first quarter was driven by a massive 59.8% surge in exports of refined fuels. Iron ore imports dropped to 90.44 million tonnes in April, down 9.8% from March but up 5.1% from April last year.

☆ China's exports to North Korea rise sharply in March
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 21 (Reuters) - China's overall exports to North Korea in March rose sharply compared with the same month last year for the second month in a row, with the major export items including rice, Chinese customs data showed on Friday. Chinese outbound shipments to the isolated country surged 141.7% year-on-year last month following a 161.5% leap in January-February, data released by China's General Administration of Customs showed. The country also imported around $8 million in artificial wigs and $7 million in tobacco. China's foreign ministry said last month that relations between China and North Korea had entered "a new historic period" in recent years and continued to develop under the "strategic leadership" of both countries. China's new ambassador to North Korea, Wang Yajun, arrived in the North on March 27.

Search resuls for: "Administration of Customs"

25 mentions found