China’s imports from Russia surged to $11.5 billion in August, the highest monthly haul in over two decades, despite an overall decline in its purchases of foreign goods. The surge comes as trade between the two neighbors’ booms in the wake of Western sanctions on Russia over its invasion of Ukraine. Bilateral trade between […]
Read MoreDespite declining exports to its main market, the United States, container activity remains high at China’s major ports. This is because the country has found new buyers elsewhere, such as Europe, India, the Middle East, and South America. Deflation has also become an asset for Chinese exports, as it lowers importers’ prices. Figures from the […]
Read MoreHong Kong International Airport’s cargo volumes rose by 3.8% YoY in July to 361,000 tonnes, marking the second consecutive month of growth. The increase was driven by exports which rose by 12.6% YoY in July, with traffic to and from key trading regions in North America, the Middle East and Europe rising considerably during […]
Read MoreOn Wednesday, August 9th President Joe Biden declared a new national emergency and immediately used it as the justification for creating a new screening system that will limit Americans’ ability to invest overseas. The new rules, which have been in development since last year, will prohibit private equity and venture capital firms from investing […]
Read MoreChina has expressed strong opposition to “official interaction of any form” between the US and Taiwan and called on Washington to revoke a bilateral trade agreement with Taipei. “The US move violates the one-China principle and the three China-US joint communiques, contravenes the US’s own commitment of maintaining only unofficial relations with Taiwan,” China’s […]
Read MoreThe Caixin/S&P Global manufacturing purchasing managers’ index (PMI) for China fell to 49.2 in July from 50.5 in June, indicating a contraction in factory activity. This decline in data has posed challenges for policymakers attempting to bolster the post-Covid economic recovery in China. Supply, demand, and export orders all worsened in July, attributed to […]
Read MoreSpot container shipping rates between Asia and the U.S. have been increasing by double digits in July, climbing for three consecutive weeks, reaching levels similar to early 2023 and late 2022. Meanwhile, shipping lines have become more disciplined at managing vessel capacity. “Typically, higher demand leads to higher capacity availability, but over the […]
Read MoreThe demand for the Asia-North Europe trade is weak and uneven, so carriers are adjusting their sailings and port calls to cope with the situation. A carrier source said they were trying to be flexible and responsive to the market needs. MSC announced today that it would cancel the next sailing of its MSC […]
Read MoreUS Treasury Secretary Janet Yellen’s visit to China has sparked optimism in Beijing that the Trump-era tariffs on Chinese imports could see some alleviation as she endeavors to improve relations between the two countries. However, the presence of robust anti-China sentiment within the US may pose significant obstacles to the realization of such tariff cuts. […]
Read MoreThe official manufacturing purchasing managers’ index (PMI) came in at 48.8, down from 49.2 in April. This marks the second consecutive month that the PMI has fallen below the 50-point mark, which separates contraction from expansion. The decline in the PMI was driven by a number of factors, including weaker demand, rising costs, and […]
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