The US will sign into effect another round of 25% tariffs on $16 billion of Chinese imported goods in two weeks, according to the US Trade Representative’s Office on Tuesday. A further 279 product lines will face tariffs from August 23, adding to the $34 billion of goods already subjected to 25% levies in July. […]
Category: Brief
The head of the government-affiliated China Small and Midsize Enterprises Association has urged for greater action in widening financial channels to sectors of the economy traditionally starved of capital assistance, in particular small businesses and those tied to agriculture. Liu Kegu told the committee that greater nuance was required to ensure those underrepresented by the […]
Alibaba is preparing to merge its food delivery businesses in a bid to grab further market share in China’s fiercely competitive meals-on-demand market, sources told Reuters. Platforms Ele.me and Koubei, both run by the e-commerce giant, will combine and launch a new fundraising round, the sources said. Alibaba hopes to raise between $3 billion and […]
China-based traders believe that the country’s central bank has moved towards the use of low-profile forex swaps to bolster its currency rather than the traditional method of selling high quantities of US dollars to buy renminbi. Official data released on Tuesday showed that China’s foreign exchange reserves actually increased for the second straight month in […]
Global iron ore prices hit a six-month high of $69.50 a tonne on Tuesday, as Beijing’s policy of cutting excess capacity and pollution in the steel industry has boosted demand for higher quality input materials. Iron ore, a key component of the alloy steel, has risen 9% since the start of June, according to the […]