Foreign buyers have returned to China’s largest trade exhibition, drawn by the array of new energy vehicles and other green products on offer at the Canton Fair.
With more countries searching for – and finding – stores of rare earth minerals, China’s former near-monopolist role in the trade of the metals is gradually being eroded.
China must emphasise modern services in its push for new productive forces, Sheng Songcheng says, flagging the need for a hi-tech, high-quality service sector.
China has revealed hefty penalties on imports from the US of an acid used as a preservative as trade relations between the two countries appear likely to return to an outwardly acrimonious track.
Commercial ties between China and the Middle East are enjoying a revival as politics, energy transition and supply-chain upheavals create opportunities for Chinese exporters, according to management consultancy Oliver Wyman.
Asia official with Washington-based agency points to the PBOC’s policy moves, as well as China’s infrastructure spending, as economic bellwethers in the face of headwinds.
The US’ proposed tripling of tariffs on Chinese steel imports would be the first move in a tit-for-tat struggle that would expand the bilateral trade war, analysts said – and fuel grumblings over industrial overcapacity.
Premier Li Qiang told overseas buyers at the Canton Fair that China’s development will inject more stability into the world economy and global trade as it seeks to shore up confidence and retain and entice investors.
China has continued to sell its holdings in US debt as the likelihood of expected interest rate cuts grows more remote and Beijing looks to widen the diversity of its foreign asset pool.
Hong Kong, once the world’s busiest port, was knocked to 11th place in 2023 by Dubai’s Jebel Ali port, while Shanghai and Singapore retained the top two spots, according to data from Alphaliner.
Carmakers like Dongfeng, Chery and BYD are eyeing production sites in Europe to assemble the next generation of electric vehicles as a foil against the EU’s protectionist tariffs as a brutal price war at home drives more producers offshore in search of fresh markets.
China’s state-owned aircraft manufacturer held a conference ahead of a week-long seminar to seek progress with its C929 passenger jet, which is due to rival the Airbus A350 and Boeing 787 models for long-haul routes.
Buyers and exhibitors of new energy equipment at the Canton Fair are showing boundless optimism as orders rise, but measures likely to be taken against the industry by the US and EU could spoil the fun.
Scholz’s trip comes as the European Union is undertaking an anti-subsidy investigation into Chinese electric vehicles (EVs), and as criticism grows in the United States about Chinese overcapacity.
In this week’s issue of the Global Impact newsletter, we look to keep up with the complex and ever-evolving US-China relationship, with a particular focus on Washington’s moves to ban video-sharing app TikTok.
Hong Kong is building an arsenal to assist the world with raising funds for managing losses from natural disasters, the Insurance Authority said. It is discovering more issuers, investors and data, as well as cultivating its modelling capabilities and talent.
China’s export growth fell more than expected in March, but a recovery of overseas markets is expected, while imports also declined last month.
Spotlight Automotive, BMW’s 50-50 EV venture with mainland Chinese partner Great Wall Motor, is designing new models that it hopes to sell globally.
A recent report has found China has overtaken Germany in terms of certain exports, an elevation of status for the Asian juggernaut but a potential source of tension for already fraught bilateral relations.
China’s exports in March were dragged down by a higher base in the same period last year, but a strong recovery in demand in overseas markets is set to lead to ‘robust export growth’ this year, analysts said.
China’s managed currency is seen as an anchor for its regional peers, meaning small moves can have an outsize impact.