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Seoul, South Korea CNN —A jet ski rider detained by South Korea for allegedly entering the country illegally is a prominent Chinese dissident who rode hundreds of miles across the sea to escape from China, activists say. The man, who is in his 30s, was apprehended August 16 near Incheon, on South Korea’s west coast near to the capital Seoul, the Incheon Coast Guard said in a news release Sunday. He is suspected of traveling from China’s eastern Shandong province, which lies about 400 kilometers (250 miles) across the Yellow Sea from Incheon. Upon arrival in South Korea, he got stuck on the muddy shore and had to call an emergency line for help, the release said. Lee Dae-seon, an activist working with Dialogue China and based in South Korea, said Kwon had been sentenced to jail and released in March 2019.

Persons: Kwon Pyong, Kwon, Xi Jinping, “, ”, Lee Dae, Lee, “ Kwon, ” Lee Organizations: South Korea CNN, South, Incheon Coast Guard, CNN, Iowa State University, House, Freedom, Dialogue Locations: Seoul, South Korea, China, Incheon, South Korea’s, Shandong, United States, Dialogue China

☆ Factbox: China's incumbent and upcoming LNG traders
▼ + stars: | 2023-08-21 | by ( Chen Aizhu | ) www.reuters.com time to read: +5 min

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. Below is a list of China's main gas traders and their operations globally, according to information from company sources and traders. In May, PCI became the first Chinese firm to gain long-term access to gas storage at a European gas terminal. CNOOC also plans to create a London desk in the coming year or two, following PCI and Unipec. Sumitomo Corp (8053.T), which has a desk to trade piped gas in London is considering expanding into LNG trading, said a company spokesperson.

Persons: Issei Kato, Keith Martin, Wang Bingsi, CNOOC, Norinco, ENN, Chen Aizhu, Yuka Obayashi, Florence Tan, Tom Hogue Organizations: REUTERS, Rights, PetroChina International, PCI, London, Gazprom, China National Offshore Oil Company, Gas Co, ENN, LNG, Beijing Gas, Zhejiang Energy, Zhejiang Energy Zhejiang Energy, Exxon Mobil, Mexico, China Gas Holding, China Gas, JOVO Energy, Privately, SOUTH, Mitsubishi Corp, Marubeni Corp, Tokyo Gas, Korea's SK E, Sumitomo Corp, Thomson Locations: Futtsu, Tokyo, Japan, London, Singapore, Beijing, Dubai, Houston, Sinopec, China, Jiangsu province, ENN, U.S, Hebei, Shenzhen, CNOOC, Zhejiang Energy Zhejiang, Zhejiang, Ningbo, Wenzhou, Zhejiang province, HK, Guangxi province, Yantai, Shandong province, Guangdong, Guangzhou, JAPAN, SOUTH KOREA, Asia

A child plays the game "Honour of Kings" by Tencent at home in Dezhou, Shandong province, China July 2, 2017. REUTERS/Stringer Acquire Licensing RightsHONG KONG, Aug 17 (Reuters Breakingviews) - China's economic woes have gifted Tencent (0700.HK) an unexpected silver lining. Revenue rose a decent 11% to 149 billion yuan ($20.4 billion), but fell slightly short of the average analyst forecast compiled by Refinitiv. That compares to the 151.7 billion yuan average analyst forecast of 21 analysts compiled by Refinitiv. Adjusted net profit, after excluding certain one-time and non-cash items, rose 33% to 37.5 billion yuan.

Persons: Tencent, Stringer, HONG KONG, Refinitiv, James Mitchell, pare, Alibaba, Antony Currie, Thomas Shum Organizations: REUTERS, Reuters, HK, Revenue, Tencent, Citi, Refinitiv, Thomson Locations: Dezhou, Shandong province, China, HONG, Tencent, Hong Kong

☆ White House says China's economic data has had transparency issues
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: 1 min

An employee works on the production line at Jingjin filter press factory in Dezhou, Shandong province, China August 25, 2022. REUTERS/Siyi Liu/File Photo Acquire Licensing RightsAug 16 (Reuters) - The White House, pressed on Wednesday about recent Chinese growth, said there were issues with the transparency of economic data issued by Beijing. "We have all seen the reports of the economic weakness in China ... and as we've said many times before, there have also been transparency issues as we know, when it comes to (China) and on the economic data, specifically," spokeswomen Karine Jean-Pierre told a briefing. Reporting by Rami Ayyub, writing by David Ljunggren, editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Siyi Liu, we've, Jean, Pierre, Rami Ayyub, David Ljunggren, Chris Reese Organizations: REUTERS, Thomson Locations: Dezhou, Shandong province, China, Beijing

Total refinery throughput in the world's second-largest oil consumer was 63.13 million metric tons last month, data from the National Bureau of Statistics (NBS) showed. Production was up slightly from the 14.83 million bpd of oil processed in June. Domestic fuel demand has picked up with the arrival of the summer travel season, notably in gasoline and jet fuel. China's crude oil imports in July pared back from close-to-record levels during the previous month, totalling 43.7 million metric tons, or 10.3 million bpd, according to the customs data. The NBS data on Tuesday also showed China's domestic crude oil production in July was 17.31 million metric tons, or 4.1 million bpd, versus 17.13 million metric tons in 2022.

Persons: Dominique Patton, refiners, Production, Andrew Hayley, Jacqueline Wong Organizations: Shandong Haiyou Petrochemical Group, REUTERS, National Bureau of Statistics, Reuters, Zhuochuang, Thomson Locations: Shandong, county, Shandong province, China, BEIJING

☆ Oil eases on stronger dollar, China demand concerns
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: +2 min

Oil prices eased on Monday after seven straight weeks of gains supported by tightening supply on OPEC+ output cuts, as concerns about China's faltering economic recovery and a stronger dollar weighed. Oil may be range-bound this week as China's sluggish economic recovery and a stronger U.S. dollar could depress prices, but OPEC+ would do whatever it takes to keep supply tight and stabilize markets, CMC Markets analyst Tina Teng said. A Russian warship fired warning shots at a cargo ship in the Black Sea on Sunday, ratcheting up tensions in a key area for commodities exports from Ukraine and Russia. "Escalating tensions between Russia and Ukraine has raised the prospect of disruption to trade in the Black Sea," ANZ analysts said in a note, adding that the Black Sea handles around 15%-20% of oil that Russia sells. In the U.S., the number of operating oil rigs held steady at 525 last week, after falling for eight weeks in a row, according to Baker Hughes weekly report.

Persons: Tina Teng, Brent, Baker Hughes Organizations: Raffles, Brent, West Texas, U.S, Federal, CMC, Organization of, Petroleum, International Energy Agency, ANZ Locations: Yantai, East China's Shandong province, OPEC, Saudi Arabia, Russia, Russian, Ukraine, U.S

☆ Oil holds near three-month high on signs supply is tightening
▼ + stars: | 2023-08-01 | by ( ) www.cnbc.com time to read: +2 min

Oil price were little changed on Tuesday, trading near a three-month high reached on Monday, on signs of tightening global supply as producers implement output cuts and strong demand in the United States, the world's biggest fuel consumer. Brent crude futures for October were at $85.30 a barrel at 0135 GMT, down 13 cents or 0.15% lower from its close. The data showing the supply cuts coincided with U.S. figures released on Monday showing fuel demand rose to 20.78 million bpd in May, the highest since August 2019. The data from the Energy Information Administration also showed gasoline demand, expressed as product supplied to the market, surged to 9.11 million bpd, the highest since June 2022. U.S. crude oil and gasoline stockpiles were expected to have declined last week, according to a Reuters poll which estimated on average that crude inventories fell by about 900,000 barrels in the week to July 28.

Persons: Brent Organizations: Raffles, Brent, . West Texas, of Petroleum, National Australia Bank, Organization of, Petroleum, Energy, Administration Locations: Yantai, East China's Shandong province, United States, ., Saudi, Saudi Arabia, Russia

☆ Asia's factories face weak demand, signaling growth challenges ahead
▼ + stars: | 2023-08-01 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Six out of the nine private surveys released Tuesday showed that manufacturing activity in Asia's major producers again contracted in July. In addition to China, readings for Japan, South Korea, Malaysia, Taiwan, Vietnam also signaled contraction in manufacturing activity. "The data reaffirm our view that external demand will constitute a headwind to growth in the second half of 2023." PMI manufacturing surveys are leading indicators of economic activity. A reading above 50 points to an expansion in activity, while a reading below that level suggests a contraction.

Persons: PMIs, Shivaan Tandon Organizations: Factories, Emerging, Capital Economics, PMI Locations: East China's Shandong province, Asia, China, Japan, South Korea, Malaysia, Taiwan, Vietnam, India, Indonesia, Philippines, Emerging Asia

☆ Typhoon Doksuri and Khanun: Thousands in China flee homes as one soaks Beijing and the second approaches Typhoon Doksuri lashes Beijing and floods parts of China, while another storm approaches
▼ + stars: | 2023-07-31 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +6 min

A civilian rescue team help flood-stranded people onto a rubber boat in Quanzhou in southeast China's Fujian province on July 29, 2023. Even as Doksuri tapers off, authorities are preparing for incoming Khanun, the sixth typhoon projected to hit China this year. This weekend, a total of 1,015 people suffered heat-related diseases, which the KDCA defines as heat stroke, heat exhaustion, heat cramps, heat syncope and heat edema. The city of Gyeongju saw temperatures reach 36.8 degrees Celsius (98.24 Fahrenheit) and Jeongseon county saw temperatures reach 36.1 Celsius (96.98 Fahrenheit), according to the Korea Meteorological Administration. Seoul’s affluent Gangnam district saw temperatures reach to 35.7 degrees Celsius (around 96.2 Fahrenheit), while North Gyeongsang Province saw temperatures reach 38.1 degrees Celsius (100.58 degrees Fahrenheit).

Persons: Doksuri, hurtled, Saomi, Rita, Khanun Organizations: CNN, CCTV, Xinhua, China Meteorological Administration, Xinhua News Agency, Getty, CNN Weather, Joint Typhoon Warning, South Korea swelters, Korea Disease Control, Prevention Agency, Korea Meteorological Administration Locations: Beijing, China, Fujian, Liaoning, Hebei, Quanzhou, China's Fujian, Philippines, Taiwan, Zaozhuang, China's Shandong, Zhejiang, Okinawa, East, Naha, Miyako, Asia Asia, South Korea, Korea, Gyeongju, Jeongseon, Gangnam, North Gyeongsang Province

☆ China signals more support for real estate with a 'big change' in tone
▼ + stars: | 2023-07-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Construction on a real estate project in Yantai, Shandong province, gets under way on July 8, 2023. Nurphoto | Nurphoto | Getty ImagesBEIJING — China is changing its tone on the struggling real estate sector, paving the way for policy support. The statement reflects a "much clearer understanding about the seriousness of the situation," said Qin Gang, executive director of China real estate research institute ICR. He expects policies beneficial to the real estate market and consumption will come out in coming days. So far, the biggest real estate policy change has been this month's extension of measures to support developers, which were first revealed in November.

Persons: Larry Hu, Hu, Qin Gang, Ricky Tsang, China's, Tsang, It's, Zong Liang, Zong, Tommy Wu, Wu Organizations: Nurphoto, Getty, CNBC, Macquarie, People's Bank of China, Qin, Seng Property Development, National Bureau of Statistics, Bank of China Locations: Yantai, Shandong province, BEIJING, China

☆ IMF: Global economy is improving but inflation is still enemy No. 1
▼ + stars: | 2023-07-25 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Minneapolis CNN —The global economy is showing more resilience than economists previously thought — but, although some risks have abated, choppy waters could still be ahead, the International Monetary Fund said Tuesday. In its latest update to its World Economic Outlook, the agency said it expects global growth of 3% in both 2023 and 2024. “Global economic activity has proven resilient in the first quarter of this year, leading to a modest upward revision for global growth in 2023,” Pierre-Olivier Gourinchas, the IMF’s chief economist, said in a statement. From 2000 to 2019, annual global economic growth averaged 3.8%, according to the IMF. When looking across the global economy, there are concerns that China’s recovery could slow further, as its debt-laden real estate sector weighs on growth, according to the report.

Persons: ” Pierre, Olivier Gourinchas, Chris Ratcliffe, ” Gourinchas, Gourinchas, “, ” Organizations: Minneapolis CNN, International Monetary Fund, Economic, IMF, Bloomberg, Getty, Publishing, Federal Reserve Locations: Minneapolis, Oxford, United Kingdom, United States, Europe, Ukraine, Germany, Yantai, Shandong province, China

☆ Oil prices dip on profit-taking despite tighter U.S. supplies
▼ + stars: | 2023-07-19 | by ( ) www.cnbc.com time to read: +2 min

A very large oil tanker docked at the 300,000-ton crude oil terminal at Yantai Port in Yantai, Shandong province, China, June 16, 2023. Oil prices edged lower on Wednesday, as investors took profits following earlier gains on tighter U.S. crude supplies and China's pledge to reinvigorate its economic growth. Prices pared gains late in the session after both contracts had risen by over $1 a barrel. Market participants took advantage of the higher prices and took profits, said Phil Flynn, an analyst at Price Futures Group. ... Any improvement in the inflation data also means an improvement in oil demand," said Naeem Aslam of Zaye Capital Markets.

Persons: Phil Flynn, Flynn, We're, Klaas, Naeem Aslam Organizations: U.S, West Texas, Price Futures, Energy, Strategic Petroleum Reserve, Federal Reserve, European Central Bank, Traders, Zaye, Markets Locations: Yantai, Shandong province, China, Russia

☆ Oil dips over 1.5% on demand fears after weak Chinese data
▼ + stars: | 2023-07-17 | by ( ) www.cnbc.com time to read: +2 min

A very large oil tanker docked at the 300,000-ton crude oil terminal at Yantai Port in Yantai, Shandong province, China, June 16, 2023. Oil dropped by more than 1.5% on Monday after weaker than expected Chinese economic growth raised doubts over the strength of demand in the world's second biggest oil consumer, and a partial restart of halted Libyan output also pressured prices. "The GDP came in below expectations, so will do little to ease concerns over the Chinese economy," said Warren Patterson, ING's head of commodities research. Oil briefly rose after a Reuters news alert on Saudi Arabia extending a voluntary output cut. Oil also came under pressure on Monday from the resumption of output at two of three Libyan fields shut last week.

Persons: Warren Patterson, ING's, Brent, Dennis Kissler Organizations: . West Texas, BOK Financial, Oil, Energy, Administration Locations: Yantai, Shandong province, China, Saudi Arabia, Moscow

☆ Oil prices up on tighter supply, lower U.S. inflation
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose on Friday on support from tighter supply amid issues in Libya and Nigeria and easing U.S. inflation, which markets hope may bring an end to interest rate hikes in the world's biggest economy. U.S. consumer prices rose modestly in June at the smallest annual increase rate in more than two years as inflation continued to subside. Producer prices also barely rose in June, and the annual increase was the smallest in nearly three years. Separately, Shell has suspended loadings of Nigeria's Forcados crude oil due to a potential leak at a terminal. Saudi Arabia and Russia, the world's biggest oil exporters, this month agreed to deepen oil cuts in place since November last year, providing further support to crude prices.

Organizations: Raffles, Brent, . West Texas, U.S . Federal, ANZ Research, Shell Locations: Yantai, East China's Shandong province, Libya, Nigeria, Saudi Arabia, Russia

☆ IEA trims oil demand forecast for the first time this year on 'persistent' economic headwinds
▼ + stars: | 2023-07-13 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Two large oil tankers unload at the 300,000-ton crude oil terminal in Yantai Port, Shandong Province, China, July 9, 2023. The International Energy Agency on Thursday cut its global oil demand growth forecast for the first time this year, primarily citing a worsening economic outlook that weighs "especially heavy" on wealthy countries. The world's leading energy watchdog said global oil demand is now on track to climb by 2.2 million barrels per day in 2023 to reach an average of 102.1 million barrels per day. China is set to account for 70% of the demand growth increase, the IEA said. This forecast nevertheless represents a downward revision of 220,000 barrels per day from last month's report, when the IEA predicted an increase of 2.4 million barrels per day of worldwide growth.

Organizations: International Energy Agency, IEA, Federal, Brent, U.S, West Texas Locations: Yantai Port, Shandong Province, China, London

July 13 (Reuters) - Qingdao city in China's debt-laden Shandong province has set up a company to bail out its cash-strapped local government financing vehicles (LGFVs), sources said, as regional governments rush to reduce debt risks in a wobbly economy. The government of Qingdao and the China Development Bank did not reply to Reuters' requests for comment. While no LGFV in China has defaulted in the public markets, cases of delinquencies in the private debt market are increasing, worrying Beijing. Tianjin LGFV bonds yield more than 514 bps over government bonds, compared with 200 bps for Shandong bonds, reflecting the elevated risks. Fund manager Zhou said although he is bullish on LGFV bonds, "the first priority is to be absolutely diversified in investment.

Persons: Qingdao's, Xi Jinping, LGFVs, Goldman Sachs, Zhai Jianye, Zhai, It's, Zhou Tingzuo, Ning Yong, Zhou, Samuel Shen, Jason Xue, Tom Westbrook, Vidya Ranganathan Organizations: Dongdin Industrial Group, China Development Bank, Southwest Securities, Agricultural Bank of China, China Construction Bank, Commercial Bank of China, SS, Shoupu Fund Management Co, Ning Yong Fu Fund Management, Thomson Locations: Qingdao, China's, Shandong, China, Shandong LGFVs, Beijing, Big, Jinan, Weifang, Liaoning, Hunan, Shanghai, Tianjin, Singapore

☆ China's northern cities brace for more torrid heat
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

[1/3] A man pulls a cart carrying jugs of water amid the orange alert for heatwave, at a hutong alley in Beijing, China July 5, 2023. The torrid heat has gripped China for several weeks, pushing local governments to ask residents and businesses to curb the usage of electricity. It is expected that the maximum temperature in most areas of the city will rise above 40 degrees Celsius, according to the state-backed Beijing Daily. The meteorological observatory in northern Hebei province also issued a red alert, with temperatures in some areas expected to reach 40-43 Celsius on Thursday. China's Meteorological bureau issued orange alerts, the second highest alert, in mostly northern China with temperatures expected to hit 40 degree Celsius and above.

Persons: Tingshu Wang, Bernard Orr, Ella Cao, Michael Perry Organizations: REUTERS, Beijing Daily, China's Meteorological, Beijing Municipal Bureau of Culture, Tourism, Thomson Locations: Beijing, China, Tingshu Wang BEIJING, Hebei province, North China, Mongolia, Shaanxi, Henan, Shandong, Chongqing

☆ Oil prices ease as worries over global economic slowdown weigh
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: +2 min

Oil prices eased on Wednesday, paring the previous day's gain as fears over a global economic slowdown denting fuel demand outweighed expectations of tighter supply due to output cuts announced by top exporters Saudi Arabia and Russia for August. Brent crude was down 14 cents, or 0.2%, at $76.11 a barrel by 0027 GMT, after climbing $1.60 on Tuesday. "Oil prices came under pressure again due to lingering worries over a slowdown in the global economy and further hikes of interest rates in the United States and Europe," said Tomomichi Akuta, senior economist at Mitsubishi UFJ Research and Consulting. The latest decision by Saudi and Russia could be viewed as a bearish signal for prices, as it confirms that optimistic views on demand growth are faltering. Investors remained concerned about oil demand, however, after business surveys showed a slump in global factory activity because of sluggish demand in China and in Europe.

Persons: paring, Brent, Tomomichi Akuta Organizations: Raffles, . West Texas, Mitsubishi UFJ Research, Consulting, Saudi, OPEC, of, Petroleum, Investors, Traders, American Petroleum Institute, Reuters Locations: Yantai, East China's Shandong province, Saudi Arabia, Russia, ., Monday's, U.S, United States, Europe, China, Algeria

In Asia, while factory activity expanded marginally in China, it contracted in Japan and South Korea as Asia's economic recovery struggled to maintain momentum. REUTERS/Siyi LiuChina's Caixin/S&P Global manufacturing PMI eased to 50.5 in June from 50.9 in May, the private survey showed. The figure, combined with Friday's official survey that showed factory activity extending declines, adds to evidence the world's No. South Korea's PMI fell to 47.8 in June, extending its downturn to a record 12th consecutive month on weak demand in Asia and Europe. Factory activity also contracted in Taiwan, Vietnam and Malaysia, the PMI surveys showed.

Persons: Rory Fennessy, lockdowns, Toru Nishihama, Siyi Liu China's, Jonathan Cable, Sam Holmes, David Evans Organizations: PMI, European Central Bank, Oxford Economics, P, Dai, Research, REUTERS, P Global, Reuters, Jibun, of, International Monetary Fund, Thomson Locations: Japan, South Korea, China, TOKYO, Europe, Britain, Asia, United States, European, U.S, Dezhou, Shandong province, South, Taiwan, Vietnam, Malaysia, of Japan's

☆ Asia's factory output slumps as weak China demand weighs
▼ + stars: | 2023-07-03 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

While manufacturing activity expanded marginally in China, it contracted in powerhouses Japan and South Korea as Asia's fragile economic recovery struggled to maintain momentum. New orders from overseas customers decreased in June at the fastest rate in four months reflecting feeble demand from China, the Japan PMI survey showed. Factory activity also contracted in Taiwan, Vietnam and Malaysia, the PMI surveys showed. Asia's economy is heavily reliant on the strength of China's economy, which saw growth rebound in the first quarter but subsequently fell short of expectations. The fate of Asia's economy, including China's, will have a huge impact on the global economy with aggressive monetary tightening to curb inflation likely to weigh on U.S. and European growth.

Persons: Liu, lockdowns, Toru Nishihama, Leika Kihara, Sam Holmes Organizations: REUTERS, PMI, Dai, Research, P Global, Reuters, Jibun, Japan PMI, International Monetary Fund, Thomson Locations: Dezhou, Shandong province, China, Japan, South Korea, TOKYO, Asia, U.S, Europe, Taiwan, Vietnam, Malaysia

A worker grinds at a workshop of an equipment manufacturing company in Qingzhou Economic Development Zone, East China's Shandong province, March 31, 2023. Asia-Pacific markets are set for a mixed open ahead of a slew of manufacturing activity reports being released around the region. Most notably, China's Caixin manufacturing purchasing managers index will be released today. Private surveys for factory activity in Japan, South Korea, Taiwan and India will be released today as well as Thailand, Indonesia, Malaysia, the Philippines and Vietnam. In Japan, the Nikkei 225 is set to open higher, with the futures contract in Chicago at 33,485, and its counterpart in Osaka at 33,420 against its last close at 33,189.04.

Persons: grinds Organizations: Reuters, Nikkei Locations: East China's Shandong province, Asia, Pacific, Japan, South Korea, Taiwan, India, Thailand, Indonesia, Malaysia, Philippines, Vietnam, Chicago, Osaka

[1/2] An aerial view shows cars for export at a port in Yantai, Shandong province, China May 3, 2023. China Daily via REUTERS/File PhotoJune 30 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Goldman's emerging markets financial conditions index is the lowest in 16 months, which stands in contrast to developed economies where rates, bond yields borrowing costs of all stripes are rising sharply. The U.S. two-year yield jumped 15 basis points on Thursday, its biggest rise in a month, and traders are now pricing in at least one more quarter point rate hike this year. Here are key developments that could provide more direction to markets on Friday:- China PMIs (June)- Japan - Tokyo inflation (June)- U.S. PCE inflation (May)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever, Goldman Sachs, Jerome Powell, China PMIs Organizations: REUTERS, Asia's, Bank of Japan, U.S, PCE, Thomson, Reuters Locations: Yantai, Shandong province, China, Japan, Tokyo, South Korea, U.S

☆ Ports in China's oil hub Shandong scrutinizing old tankers -sources
▼ + stars: | 2023-06-05 | by ( Muyu Xu | ) www.reuters.com time to read: +3 min

Qingdao and Lanshan are two of the top five biggest Chinese oil importing ports, according to data from Kpler. Shandong is home to numerous independent refineries known as teapots that account for up to one-fifth of China's processing capacity. Port authorities could detain ships for days to rectify any issues, prompting shippers to divert cargoes to other Chinese ports, the sources said. Almost all tankers hauling crude to Qingdao for independent refiners are more than 10 years old, said Vortexa analyst Emma Li. In April, tankers calling at Shandong ports experienced delays after customs authorities stepped up checks on diluted bitumen cargoes.

Persons: Seapalm, Emma Li, Eikon, Muyu Xu, Florence Tan Organizations: Kpler, Shandong Maritime Safety Administration, Reuters, Seapalm Shipping, Thomson Locations: SINGAPORE, China's Shandong, Qingdao, Rizhao, Lanshan, Shandong, Tokyo, Cameroon, Seychelles, Jiangsu, Hebei, Liaoning, Beijing

☆ FDA allows temporary import of unapproved Chinese cancer drug to ease U.S. shortage
▼ + stars: | 2023-06-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The Food and Drug Administration has authorized the temporary importation of an unapproved chemotherapy drug from China in an effort to ease an acute shortage of cancer drugs in the United States, according to an update posted to the agency's website on Friday. The FDA told CNBC this week that the agency was considering imports of unapproved chemotherapy drugs. An FDA spokesperson said the agency assesses the quality of unapproved drug imports to make sure they are safe for U.S. patients. Doctors say some cancer patients could die if the national shortage drugs like cisplatin is not resolved soon. At least 13 other cancer drugs are in short supply across the U.S.

Organizations: Qilu Pharmaceutical, Co, Drug Administration, U.S . Health, FDA, CNBC Locations: Hainan, Haikou, Hainan Province, China, United States, U.S, Toronto, Jinan, Shandong

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