China suspended petroleum exports to Japan from the Daqing oil field in Heilongjiang province. The suspension came after the Japanese government refused to accept a price increase by China for 2004-2005. The suspension is the first time for China to halt oil exports to Japan since the regular shipments were initiated in 1973.
Category: Economics & Trade
The China Agriculture Ministry approved import of five types of foreign-grown genetically modified (GM) crops. US officials said the move will boost soybean exports, a third of which are bought by China, and is a signal that China is following up on its WTO commitments. Five of seven GM crops submitted for testing by Monsanto, […]
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Shui On to form property JV
Hong Kong property developer Shui On Holdings announced it will sign a joint venture contract with overseas real estate investors in Shanghai. Terms of the deal were not announced but Shui On management noted the real estate group plans to boost its presence on the mainland. Shui On’s move towards foreign sources of capital comes […]
The Beijing municipal government announced that it plans to build several "new style" satellite towns on the capital's outskirts in order to address its overpopulation concerns. The satellite towns will be designed to be as self-contained as possible, featuring residential and commercial developments for approximately 500,000 residents each. Officials at the Beijing Municipal Committee for […]
China's Ministry of Commerce (MOFCOM) reported that the country experienced a trade deficit in January, despite growth of 13.6% in foreign direct investment. MOFCOM said that the trade deficit reached US$20 million for the first time in 10 months. Exports increased 19.8% year-on-year in January, a sharp drop from December's 50.7% export growth. Imports rose […]