China is now poised to overtake Egypt and Turkey as the biggest buyer of wheat in the year through June, Chinese and US official data show, reports Bloomberg. Purchases exceeded 12 million tons in the first 11 months of the marketing year, which runs through June. More than half of those cargoes were supplied by Australia. […]
Category: Economics & Trade
Argentina will start to pay for Chinese imports in yuan rather than dollars, the government announced Wednesday, a measure that aims to relieve the country’s dwindling dollar reserves, reports Reuters. In April, it aims to pay around $1 billion of Chinese imports in yuan instead of dollars and thereafter around $790 million of monthly imports […]
The Chinese economy this year is expected to grow faster than previously forecast and exceed the government’s target of “around 5%,” according to a survey of local economists, reports Nikkei Asia. A survey of 28 economists in March revealed that, on average, they expect the Chinese economy to grow 5.4% in 2023, up from 4.7% […]
Saudi Arabia has taken a step towards joining a Chinese-led regional security and trade club, as Beijing’s push for influence in the Middle East gathers momentum, reports the Financial Times. The kingdom will become a dialogue partner of the Shanghai Cooperation Organisation after the move was approved by the cabinet on Wednesday, almost three months […]
China has significantly expanded its bailout lending as its Belt and Road Initiative falters following a series of debt write-offs, scandal-ridden projects and allegations of corruption, reports the Financial Times. A study published on Tuesday shows China granted $104 billion worth of rescue loans to developing countries between 2019 and the end of 2021. The […]