China has confirmed a list of $16 billion worth of US imports that will be subject to 25% tariffs later this month, the country’s commerce ministry said on Wednesday, matching Washington’s latest move to put pressure on Beijing. The tariffs, which will hit goods from fuel and cars to medical equipment, will take effect from […]
Category: Brief
China’s export growth edged up last month, according to official data released Wednesday, suggesting that trade tensions with the US have yet to take a significant effect on domestic demand for American products. Exports grew 12.2% year-on-year in July from 11.2% the month before. Economists had expected a slowdown to 10.0% due to the impact […]
China has launched a multi-billion dollar credit guarantee fund to aid the channelling of funds to cash-starved sectors of the economy, Caixin reports. The National Financing Guarantee Fund will kick off with starting capital of Rmb 66.1 billion ($9.7 billion). The country’s Ministry of Finance is the fund’s largest shareholder with a 45% stake, with […]
Chinese truck-hailing app Manbang is looking to raise $1 billion in a new funding round, sources told the Wall Street Journal. Manbang – also known as Full Truck Alliance Group – is a platform that connects merchants looking to transport cargo with available truck drivers. It has been nicknamed China’s “uber for trucks” and has […]
Car sales in the world’s largest auto market dropped for the second straight month in July, Bloomberg reports, on the back of a weaker economic outlook and restrictions on the imports of US vehicles. China’s passenger vehicle sales fell 5.4% to 1.6 million units last month, according to data from the China Passenger Car Association. […]