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Vcg | Visual China Group | Getty ImagesAsia-Pacific's travel sector is seeing strong growth, with demand for flights set to match pre-pandemic levels this year — thanks to Chinese tourists. The region's travel demand in December 2023 improved to almost 83% of 2019 numbers compared with just 57% in January, according to the International Air Transport Association. Experts believe Chinese tourists will fuel this demand, particularly as they visit Southeast-Asian destinations within the wider region. watch nowTravel demand from Chinese tourists in Southeast Asia saw a notable rise in January, said James Sullivan, head of Asia-Pacific equity research at JPMorgan. Outside of Asia Pacific, the U.S., U.K., South Korea, Japan and Australia were popular holiday spots for Chinese travelers.

Persons: Willie Walsh, CNBC's, James Sullivan, Sullivan Organizations: Visual China, Getty, International Air Transport Association, JPMorgan, ASEAN, Research, Citi, Asia Pacific Locations: Yantai, Shandong Province, China, Southeast Asia, Asia, ASEAN, Thailand, Singapore, Malaysia, Vietnam, Indonesia, U.S, South Korea, Japan, Australia

BEIJING (AP) — The former chairman of the Bank of China has been indicted on bribery charges, prosecutors said Monday, adding to a long list of business and government officials who have been brought down by Chinese leader Xi Jinping's yearslong anticorruption drive. Liu Liange is accused of taking advantage of his positions at the Bank of China and previously as president of the Export-Import Bank of China, the Supreme People’s Procuratorate said in a statement posted on social media. The state-owned Bank of China, one of the country's “Big Four” banks, has a major overseas presence. The Supreme People’s Procuratorate announced last month that Tang Shuangning, the former chairman of China Everbright Group, another state-owned bank, had been arrested on suspicion of embezzlement and bribery. Beyond finance, the former chairman of the Chinese Football Association was tried last month on charges of taking 81 million yuan ($11.2 million) in bribes.

Persons: Xi Jinping's, Liu Liange, People’s Procuratorate, Liu, Xi, Tang Shuangning Organizations: BEIJING, Bank of, Bank of China, Export, Import Bank of China, Xinhua News Agency, of, China Everbright Group, Xinhua, Chinese Football Association Locations: Bank of China, Jinan, China’s Shandong province, of China

☆ Red Sea attack-fueled ocean freight inflation is starting to ease on key global trade routes
▼ + stars: | 2024-02-15 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

Future Publishing | Future Publishing | Getty ImagesThe Red Sea crisis has fueled a sharp spike in ocean freight inflation over the past two months, but there are signs that upward pressure on shipping rates on key trade routes may have peaked. Shipping rates on ocean routes from Asia to the U.S. are beginning to decline, based on analysis of the latest cargo data from Xeneta, a leading ocean and air freight benchmarking platform. The reversal in ocean freight pricing comes despite a maritime threat to global commercial shipping companies that shows no signs of waning. The timing of the rate decreases could influence new contracts in negotiations between ocean freight carriers and shippers at the beginning of March. "Either way, the next few weeks is crunch time for both ocean freight carriers and shippers and could define their fortunes for the rest of 2024."

Persons: Emily Stausbøll, Stausbøll Organizations: Future Publishing, Shipping, United Kingdom Maritime Trade, CNBC, FEU, U.S ., U.S Locations: Qingdao, Shandong province, Asia, Xeneta, Europe, U.S, East Coast, West Coast, Aden, Yemen, West, East, U.S . West Coast, Covid, Africa, Suez

☆ A photographer’s fantastical portrait of rural China during Lunar New Year
▼ + stars: | 2024-02-11 | by ( Oscar Holland | ) edition.cnn.com time to read: +6 min

CNN —In photographer Zhang Xiao’s images of the Shehuo festival, an ancient celebration still observed in parts of northern China during the Lunar New Year, rural life comes alive with something altogether more fantastical. (Lunar New Year celebrations usually last more than two weeks, with Shehuo festival taking place on the season’s 15th and final day.) “In some villages, virtually the entire population has been mobilized to produce and sell Shehuo props,” the photographer writes in his book. Shehuo performers reenact a battle between China's Eighth Route Army and Japanese forces from the Second Sino-Japanese War. “People are not focused on how to improve product quality and craftsmanship,” said the photographer, who is currently working on a documentary about life in rural China.

Persons: Zhang Xiao’s, ” Zhang, “, …, ”, Zhang Xiao, —, Zhang, Zhang Xiao “, — Zhang, reenact Organizations: CNN, roosters, dreamworld, UNESCO, Harvard University’s Peabody Museum of Archaeology & Ethnology, Eighth Route Army, Aperture, Peabody Museum Press, Peabody Museum of Archaeology, Ethnology Locations: China, Huanghuayu, Shaanxi, Henan, Huozhuang, Henan province, China’s Shandong, Chengdu, Cambridge , Massachusetts

☆ China vows to help its EV champions succeed overseas despite threats of sanctions
▼ + stars: | 2024-02-07 | by ( Laura He | ) edition.cnn.com time to read: +3 min

On Wednesday, China’s Commerce Ministry posted a document signed late last year by nine government agencies, including the Foreign Ministry and the central bank, vowing to support Chinese EV makers with their globalization push. It also encouraged Chinese EV companies to cooperate with foreign manufacturers in technology and build supply chains that can benefit everyone. Chinese EV makers are taking the world by storm, even if they are largely locked out of key markets like the United States. Chinese EV makers are seeking alternative growth engines overseas because the picture is gloomy at home. The flood of cheaper Chinese vehicles has triggered trade tensions with some countries.

Persons: “, Biden Organizations: Hong Kong CNN, China’s Commerce, Foreign Ministry, Chinese EV, Getty, EV, China Association of Auto Manufacturers, European Commission, Wall Street Locations: China, Hong Kong, Europe, United States, Chinese, China's Shandong, Australia, Southeast Asia, Japan, Shenzhen, Hungary

Over the last several years, such upstart consumer brands have been gaining market share in China and South Korea, according to a report from Bain and Company released Monday. China and South Korea stood out as markets where insurgent brands were doing particularly well. In South Korea, incumbent brands dominated just four sectors — fragrances, confectionery, diapers and bottled water, the report showed. High penetration of e-commerce in Indonesia (26%) and Singapore (13%) also gave insurgent brands a boost. Incumbent brands still hot

Persons: David Zehner, Bain, Zehner, There's, It's Organizations: Future Publishing, Bain and Company, Bain, CNBC Locations: Qingzhou city, East China's Shandong, Asia, China, South Korea, Pacific, South, Indonesia, Singapore, Malaysia, Philippines, India, confectionary

☆ China Launches Powerful Jielong-3 Rocket, Paves Way for More Commercial Missions
▼ + stars: | 2024-02-03 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +3 min

BEIJING (Reuters) - A small but powerful Chinese rocket capable of sending payloads at competitive costs delivered nine satellites into orbit on Saturday, Chinese state media reported, in what is gearing up to be another busy year for Chinese commercial launches. It was the third launch of the rocket, developed by China Rocket Co, a commercial offshoot of a state-owned launch vehicle manufacturer, since December 2022. The cost is similar to the launches of other Chinese small-lift rockets including the Long March 11, but their payload sizes are significantly smaller. Other commercial companies in the Chinese vehicle launch sector includes Galactic Energy, whose Ceres-1 rocket made its debut flight in November 2020. Ceres-1 is capable of delivering a 300 kg payload to a 500 km sun-synchronous orbit.

Persons: Xi Jinping, Ryan Woo, Jacqueline Wong Organizations: China, Co, Geely Holding, CAS Space, Chinese Academy of Sciences, Galactic Energy Locations: BEIJING, Yangjiang, Guangdong, Guangzhou, Lijian, Ceres, Beijing, Shandong

☆ BYD: Why Hungary and Mexico could be key to the Chinese carmaker’s global domination
▼ + stars: | 2024-01-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +9 min

The cars come from BYD, the Chinese carmaker that is backed by Warren Buffett and has surpassed Tesla as the world’s biggest seller of electric vehicles (EVs). 1," a shipping carrier vessel intended to export BYD vehicles, at Yantai port in eastern China's Shandong province in January. BYD Mexico did not respond to a request for comment. “The US government is not going to like that Mexico is creating a back door.”A BYD electric vehicle, operated by Vemo taxi, in Mexico City in November. But as it continues to grow overseas, BYD will have to take a more localized approach, analysts say.

Persons: Warren Buffett, Tesla, BYD, Viktor Orbán’s, Yucatán, what’s, Elon Musk, Tu Le, carmaker, Hungary —, Matthias Schmidt, ”, “, Schmidt, Bill Russo, it’s, Le, Mariceu Ethrall, It’s, “ It’s, ‘ We’re, ’ ”, Stella Li, México, ” Li, Wang Chuanfu, BYD “, Russo, they’ve, ” Russo Organizations: Hong Kong CNN, Xinhua, Getty, CNN, Tesla, BMW, Audi, European Union, Schmidt Automotive Research, EV, European Commission, Bloomberg, BYD, El Locations: Hong Kong, China, Europe, BYD, Shenzhen, Germany, Netherlands, Hungary, Mexico, North America, China's Shandong, Szeged, Komárom, France, Shanghai, Hungarian, United States, Canada, Mexico City, Mexican, Dutch, Rotterdam, California, Brazil, Indonesia, Thailand, Uzbekistan, Macao, Taiwan, Japan, what’s

☆ China’s youths throng bargain basements as economy bites: ‘The first floor is too expensive’
▼ + stars: | 2023-12-06 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Future Publishing | Future Publishing | Getty ImagesMin Li doesn't go to the mall often. The name of the game for Chinese youth in 2024 is trading down. Anything not in the basement floors is considered to be "in heaven," signaling it's out of reach. Citizens shopping for Mid-Autumn Festival gifts at a shopping mall in Yantai, East China's Shandong province, Sept 25, 2023. (Photo credit should read CFOTO/Future Publishing via Getty Images) Future Publishing | Future Publishing | Getty Images"The name of the game for Chinese youth in 2024 is trading down.

Persons: Min Li doesn't, Gucci, Chanel, Louis Vuitton, She's, Shaun Rein, Rein, Jia Miao, Jia, Chung Chi, Miao Organizations: Future Publishing, Getty, Apple, China Market Research Group, Starbucks, China Market Research, Weibo, Citizens, Publishing, New York University Shanghai, MyCOS Research, NYU Shanghai, Hong Kong Polytechnic University, McKinsey, China's, China News Service Locations: Yantai, East China's Shandong province, Weibo, East China's Shandong, Covid, NYU Shanghai China, Shanghai, Guangzhou

☆ China's industrial profits extend gains as outlook improves
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Siyi Liu/File Photo Acquire Licensing RightsBEIJING, Nov 27 (Reuters) - Profits at China's industrial firms extended gains for a third month in October, adding to signs of a stabilising economy following a run of mostly upbeat data suggesting Beijing's support measures have helped bolster a tentative comeback. For the first 10 months of 2023, profits slid 7.8% from a year earlier, narrowing from a 9% decline in the first nine months, data from the National Bureau of Statistics (NBS) showed on Monday. "However, the volatility of profits is a sign enterprises remain highly sensitive to input costs," he added. "The sharp slowdown of year-on-year profit growth was partly driven by a rebound in energy prices." Industrial profits data covers firms with annual revenues of at least 20 million yuan ($2.74 million) from their main operations.

Persons: Siyi Liu, Xu Tianchen, Joe Cash, Liz Lee, Qiaoyi Li, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, Economist Intelligence Unit, Green Energy Technology Co, Thomson Locations: Dezhou, Shandong province, China, Rights BEIJING

China's refiners processed 63.93 million metric tons of crude in October, equivalent to 15.05 million bpd, according to National Bureau of Statistics data released on Nov. 15. Crude imports were 48.97 million metric tons and domestic output was 17.33 million, giving a total of 66.3 million, equivalent to 15.61 million bpd. Subtracting the refinery throughput from the total crude available leaves a surplus of 560,000 bpd to be put into commercial or strategic reserves. China total crude available vs refinery processingFORECASTS TOO BULLISH? China's imports for the first 10 months of the year are 11.36 million bpd, which is 1.19 million bpd higher than for the whole of 2022.

Persons: refiners, China doesn't, Stephen Coates Organizations: National Bureau, Statistics, OPEC, International Energy Agency, BP, Reuters, Thomson Locations: Qingdao, Shandong province, LAUNCESTON, Australia, China, Asia, Saudi Arabia

☆ U.S. Subsidies Fuel Boom in Global Auto Trade
▼ + stars: | 2023-11-19 | by ( Jason Douglas | ) www.wsj.com time to read: 1 min

Chinese-made cars await export at the port of Yantai, Shandong province. China’s auto exports were up 71% in the third quarter compared with average monthly exports in 2021. Photo: Cfoto/Zuma PressSINGAPORE—Auto exports from Europe and Asia are surging as the U.S. and other countries lavish subsidies on electric vehicles and dealers replenish inventories that even now aren’t back to prepandemic levels. The boom in autos contrasts with broader weakness in exports as the global economy slows. The trend offers a glimpse of how the West’s embrace of industrial policies aimed at stimulating domestic manufacturing and reducing the use of fossil fuels is causing wrinkles in patterns of world trade.

Organizations: Zuma Press SINGAPORE — Auto Locations: Yantai, Shandong province, Europe, Asia

☆ Explainer: Iran's expanding oil trade with top buyer China
▼ + stars: | 2023-11-10 | by ( Muyu Xu | ) www.reuters.com time to read: +5 min

Here are key facts on Iran's oil trade with China:HOW MUCH IRANIAN OIL IS CHINA BUYING? HOW DOES IRANIAN OIL ENTER CHINA? Almost all Iranian oil entering China is branded as originating from Malaysia or other Middle Eastern countries. China regulates crude oil imports by issuing quotas. Giant state refiners Sinopec and PetroChina were once key Iranian oil clients, with investments in oilfields in the country.

Persons: Raheb, Donald Trump, refiners, China's, Muyu Xu, Florence Tan, Tony Munroe, Kim Coghill Organizations: REUTERS, Hamas, Imports, Reuters, Brent, Washington, State Department, Thomson Locations: Iranian, Iran, Israel, Tehran, China, CHINA, Washington, Malaysia, Oman, UAE, China's Shandong, Kpler, Shandong, Russia, Venezuela, Beijing, U.S

☆ China's imports unexpectedly grow in Oct, exports extend declines
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

Exports shrank 6.4% from a year earlier in October, customs data showed on Tuesday, faster than a 6.2% decline in September and worse than a 3.3% fall expected in a Reuters poll. The bad exports data may hit market confidence as we had expected the supply chain of exports to recover," said Zhou Hao, economist at Guotai Junan International. "The significant improvement in imports may come from rising domestic demand, in particular a demand to replenish stocks." However, in a sign trade is finding some footing, South Korean exports to China fell at their slowest pace in 13 months in October. China's manufacturing activity unexpectedly contracted in October, data showed last week, complicating policymakers' efforts to revive growth.

Persons: Zhou Hao, Joe Cash, Ellen Zhang, Sam Holmes Organizations: REUTERS, Rights, Imports, Guotai, Analysts, Thomson Locations: Qingdao, Shandong province, China, Rights BEIJING, North American, Korean

☆ The global freight recession will continue in 2024: CNBC Supply Chain Survey
▼ + stars: | 2023-11-07 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

watch nowThe global shipping industry has been mired in a freight recession this year and the challenging economic conditions will continue into 2024, according to a new CNBC Supply Chain Survey. The CNBC Supply Chain Survey was conducted October 21-October 31 among logistics executives who manage freight manufacturing orders and transportation, including those at C.H. "Without more freight moving, 2024, and potentially 2025, will continue to see soft pricing as capacity outstrips demand," he said. Freight trucking will remain soft Trucking companies get paid per load, and low expectations for orders imply potentially lower revenue this holiday season. A slightly better second half 2024 outlook The survey shows expectations for a slight turnaround in freight volume in the second half of 2024.

Persons: Robinson, Kuehne, Nagel, Zhang Jingang, Alan Baer, Noah Hoffman, Jeff Bezos, Uber, Tim Robertson, Robertson, Brian Bourke Organizations: CNBC Supply Chain Survey, CNBC, Chain Survey, SEKO Logistics, DHL Global, USA, ITS Logistics, Getty, Logistics, C.H, Surface Transportation, Convoy, Tank Transport Locations: Qingdao, Shandong province, China

REUTERS/Stringer/File Photo Acquire Licensing RightsLONDON, Nov 3 (Reuters) - Another month, another new record for China's primary aluminium production sector. Power availability is proving to be as effective a cap on China's aluminium production as any government mandate. Some of that production capacity has only just been powered up after a previous round of restrictions was lifted in June. And an increasingly significant one as ever more Chinese aluminium capacity migrates from north to south to lower the carbon footprint. Rainfall in Yunnan is now the key determinant of China's primary aluminium production capacity.

Persons: Stringer, John Kemp, wean, Paul Simao Organizations: REUTERS, International Aluminium Institute, China Southern Power, AZ Consulting, China Hongqiao, HK, Reuters, Thomson Locations: Zouping, Shandong province, China, Beijing, Yunnan, YUNNAN, It's, Shandong

☆ Oil gains ahead of Fed meeting as Middle East conflict persists
▼ + stars: | 2023-11-01 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged up in early Asian trade on Wednesday ahead of key global central bank meetings this week including the U.S. Federal Reserve, as the market also closely watches the latest developments in the Israel-Hamas conflict. Brent January crude futures rose 36 cents, or 0.4%, to $85.38 a barrel by 0040 GMT, after falling $1.33 on Tuesday. Brent December futures settled 4 cents lower at $87.41 a barrel at the contract's expiry on Tuesday. Interest rate hikes aimed at taming inflation can slow economic growth and reduce oil demand, while rate cuts to spur spending could increase oil consumption. The Fed, which will end its meeting on Wednesday, is expected to hold rates steady, according to a poll by CME's Fedwatch tool.

Persons: Brent, Edward Moya, CME's, Goldman Sachs, Antony Blinken Organizations: Raffles, U.S . Federal Reserve, . West Texas, Treasury, Federal, Market, American Petroleum Institute, Central Bank, Bank of England, Israel Locations: Yantai, East China's Shandong province, Israel, ., Europe, East, Gaza, U.S

☆ Asia's factories squeezed as China's nascent recovery teeters
▼ + stars: | 2023-11-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Purchasing managers' indexes (PMIs) for factory powerhouses China, Japan and South Korea showed activity shrinking while Vietnam and Malaysia also struggled with the broadening fallout from a Chinese slowdown. "Overall, manufacturers were not in high spirits in October," said Wang Zhe, an economist at Caixin Insight Group, on China's survey outcome. Japan's factory activity shrank for a fifth straight month in October, the final au Jibun Bank PMI showed. South Korea's factory activity fell for the 16th straight month while PMIs from Taiwan, Vietnam and Malaysia also showed continued declines in activity. The International Monetary Fund (IMF) has warned that China's weak recovery and the risk of a more protracted property crisis could further dent Asia's economic prospects.

Persons: Stringer, Wang Zhe, Leika Kihara, Sam Holmes Organizations: REUTERS, PMI, P Global, Caixin Insight, Jibun, Murata Manufacturing, Monetary Fund, IMF, Thomson Locations: Zouping, Shandong province, China, Japan, South Korea, TOKYO, Vietnam, Malaysia, PMIs, Taiwan, Asia

☆ China's smog-covered north on highest pollution alert as visibility drops
▼ + stars: | 2023-10-31 | by ( Liz Lee | ) www.reuters.com time to read: +2 min

Northern province Hebei launched an anti-pollution emergency response, listing traffic safety controls for when necessary including suspending flight takeoffs and landings, temporarily closing highways and suspending ferries, China's meteorological bureau said in a notice. Authorities also warned road users to stop in safe parking areas when conditions required and asked people to stay indoors. Beijing said it would implement traffic control measures if the capital activates its highest air pollution warning. Experts said weak cold air currents from the north pole were a key factor behind the unusual weather. Cold air currents are forecast to stream in the north from Thursday night, creating conditions that could weaken and dissipate the haze, the weather forecaster said.

Persons: Liz Lee, Jamie Freed Organizations: Authorities, National Meteorological Center, NMC, Thomson Locations: BEIJING, China, Northern, Hebei, Beijing, Tianjin, Henan province, Shandong, Jiangsu province, China's, Shanghai

SINGAPORE, Oct 31 (Reuters) - At least three Chinese companies including state giant China National Offshore Oil Company (CNOOC) are evaluating Shell's Singapore assets and considering non-binding bids in coming weeks for the city-state's oldest refinery, according to several sources familiar with the matter. CNOOC, the parent of offshore oil and gas major CNOOC Ltd , operates a joint refining-petrochemical complex with Shell in southern China. However, Sinopec Corp's president said in late August it was not interested in the Shell assets. Two of the sources said Shell had set a preliminary Nov. 5 deadline for proposals, although that could be extended. A Wanhua spokesperson said he was not aware of the company's potential interest in the Shell assets.

Persons: Shell, Goldman Sachs, CNOOC, Sinopec, Rongsheng, Eversun, Salmon Lee, Chen Aizhu, Trixie Yap, Tony Munroe, Florence Tan, Kim Coghill Organizations: Offshore Oil Company, Singapore, Reuters, Eversun Holdings, Wanhua, Shell, Hengli Petrochemical, China National Petroleum Corp, Privately, Thomson Locations: SINGAPORE, China, state's, Singapore, Bukom, Jurong, PetroChina, Huizhou, Guangdong, Fujian province, Putian, Shandong province, Asia, Southeast Asia

☆ Oil dips as caution about data-heavy week offsets Mid-East war boost
▼ + stars: | 2023-10-30 | by ( ) www.cnbc.com time to read: +1 min

Oil prices slipped $1 a barrel on Monday as investors adopted caution ahead of the Fed policy meeting and China's manufacturing data later this week, offsetting support from geopolitical tensions in the Middle East. "Despite an escalation in the Hamas-Israel war, the ground invasion was widely expected," Teng said. "The weekend playout signals no further expansion into a wider regional war, which caused a retreat in oil prices." Last week, Brent and WTI marked their first weekly fall in three weeks as developments in the Middle East keep investors on edge and prices volatile. 2 oil consumer after Beijing launched a burst of supportive policy measures.

Persons: Tina Teng, Brent, WTI, Israel, stoking, Teng Organizations: Raffles, Brent, West Texas, Federal Reserve, Apple Inc, CMC Locations: Yantai, East China's Shandong province, Gaza, Hamas, Israel, China, Beijing

The second largest contributor to real gross domestic product growth in the third quarter came from business inventories (1.3 percentage points). South Korea's KOSPI-100 equity index, which is usually a good proxy for global trade given its heavy weighting towards export-oriented firms, rebounded strongly through the end of July. But the index has since weakened, consistent with the renewed downturn in volumes shown in the global trade index. UNCERTAINTYUncertainty about the economic outlook and ambiguous data are usually greatest around turning points in the business cycle. Related columns:- Persistent U.S. services inflation dampens oil outlook (October 13, 2023)- U.S. manufacturing rebound will stretch diesel supplies (October 5, 2023)- Global container freight stuck in doldrums (June 23, 2023)- Global freight shows signs of bottoming out (April 27, 2023)John Kemp is a Reuters market analyst.

Persons: Stringer, Korea's, John Kemp, David Evans Organizations: REUTERS, Global, Economic, Service, Real, Ministry of Transport, Treasury, Thomson, Reuters Locations: Qingdao, Shandong province, China, United States, Netherlands, CHINA, ASIA, Singapore, Asia, Europe, Japan, Narita, EUROPE Europe, Ukraine, Germany, doldrums

☆ U.S. Lawmakers Point to Reports of Forced Labor in China’s Seafood Industry
▼ + stars: | 2023-10-25 | by ( Richard Vanderford | ) www.wsj.com time to read: 1 min

Fish on display at a seafood market in China’s Shandong Province. Photo: Wang Haibin/Zuma PressU.S. lawmakers said the Biden administration should crack down on China’s use of forced labor in seafood production after an investigative journalism group found widespread transfers of laborers from the country’s Xinjiang region to processing facilities elsewhere in the country. The administration should block imports from seafood-processing facilities in China that run afoul of a U.S. law meant to target forced labor linked to Xinjiang, home to the country’s Uyghur people and other minority groups, said Rep. Chris Smith (R., N.J) and Sen. Jeff Merkley (D., Ore.) in a letter sent Tuesday to Department of Homeland Security Secretary Alejandro Mayorkas .

Persons: Wang Haibin, Biden, Chris Smith, Sen, Jeff Merkley, Alejandro Mayorkas Organizations: Zuma Press U.S, of Homeland Locations: Shandong Province, Xinjiang, China

☆ China curbs graphite exports in latest critical minerals squeeze
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

Here are key details on graphite and China's limits on exports of strategic minerals. That's about double the amount of lithium in an EV battery. China also refines more than 90% of the world's graphite into material used in virtually all EV battery anodes. Top buyers of graphite from China include Japan, the U.S., India and South Korea, according to Chinese customs data. OTHER CHINESE MINERAL EXPORT CURBSIn July, China announced export restrictions on eight gallium and six germanium products starting on Aug. 1.

Persons: Tony Munroe, Amy Lv, Christian Schmollinger Organizations: REUTERS, Rights, . Geological Survey, EV, Mercedes, Benchmark Mineral Intelligence, Thomson Locations: Qingdao, Shandong province, China, Rights SINGAPORE, Mozambique, Madagascar, Brazil, Japan, U.S, India, South Korea

National Oilseed Processors Association (NOPA) data on Monday revealed U.S. soybean oil stocks among NOPA members totaled 1.108 billion pounds as of Sept. 30. A mid-year drawdown of U.S. soyoil stocks is common, but this year’s pace is unusual. The U.S. Department of Agriculture projects total domestic soybean oil use at a record 27.45 billion pounds in 2023-24, which began Oct. 1. The most actively traded Chicago soybean oil futures are at three-year lows for the date, down 20% from a year ago. Most-active CBOT soybean oil futuresRISING IMPORTSU.S. soybean oil stocks may be falling, but both the reduction in exports and influx of vegetable oil from overseas have been somewhat offsetting.

Persons: Jason Lee, Stocks, Karen Braun, Miral Organizations: Industry, Trade Co, REUTERS, Rights, Oilseed Processors, U.S . Department of Agriculture, NOPA, U.S, Higher, USDA, Reuters, Thomson Locations: Qufu, Shandong province, China, Rights NAPERVILLE , Illinois, U.S, Chicago, United States, USDA

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