Sinotrans, China's leading company for overland container transportation, is dropping out of the China/Europe service by the end of this year. The surprise move will mean job losses for dozens of staff in northern Europe who work in Sinotrans agencies and third-party port operation businesses. Sinotrans is a vessel-sharing partner on the China/Europe Express service […]
Category: Economics & Trade
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Deepening deflation
Price declines in most sectors of the economy and in most regions of the country indicate continued high levels of oversupply in the economy. Chinese consumer prices continued to fall in August, and a closer look at the government's CPI figures indicates that the problem of deflation may be even more worrisome than many analysts […]
Chinese customs authorities are offering rewards for valid tip-offs in a crackdown on domestic and foreign companies involved in customs fraud, the Financial Times said. Tariff income in the first seven months of this year was 3.9 per cent lower than in the same period last year, giving rise to fears that customs fraud is […]
The shipping companies China Ocean Shipping Co (Cosco), K Line, Yangming and Hanjin/Senator are considering merging some of their Atlantic services in a bid to cut capacity, particularly on the US east coast service. A company official at Cosco, the leading carrier on the Asia/US/Europe routes with seven of the 12 ships deployed, said that […]
Hong Kong-listed China Shipping Development Co (CSDC) is looking to sell its 25 per cent stake in container carrier China Shipping Container Lines (CSCL). CSDC has said it will offload its stake for a nominal price of Yn1, because the container carrier has a negative asset value of Yn200m. CSDC originally paid Yn450m for its […]