China futures trading

The November 5-10 China International Import Expo, or CIIE, is an attempt by Beijing to counter mounting criticism of its trade and business practices by bringing thousands of foreign companies together with Chinese buyers to demonstrate the importing potential of the world’s no.2 economy. At its core, the event is symbolic. When Chinese President Xi Jinping opens the expo with a speech on Monday morning, few expect him to announce bold new policies of the kind that many foreign governments and businesses have been seeking. Instead, people involved in planning meetings have said they expect state-owned companies to arrive with orders to do deals, possibly even with quotas, so that the expo will end with China something to show the world. No officials from the United States — China’s top trading partner — will be present as their trade dispute rages, but over 100 U.S. firms will be exhibiting their wares. With political pressure to deliver, some deals are likely … [Read more...] about China hopes trade expo will highlight import clout as US dispute rages

China's trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington. But signs exporters were rushing shipments before tariffs went into effect in the first week of July suggest the spike in the surplus was a one-off, with analysts expecting a less favourable trade balance for China in coming months as duties on exports start to bite. The data came after the administration of U.S. President Donald Trump raised the stakes in its trade row with China on Tuesday, saying it would slap 10 percent tariffs on an extra $200 billion worth of Chinese imports, including numerous consumer items. China's trade surplus with the United States, which is at the centre of the tariff tussle, widened to a record monthly high of $28.97 billion, up from $24.58 billion in May, according to Reuters calculations based on official data going back to 2008. Trump, who has demanded Beijing … [Read more...] about China’s trade surplus with US hits record as exporters rush to beat tariffs

U.S. President Donald Trump on Thursday praised his relationship with Chinese President Xi Jinping as officials from the world’s two largest economies began trade talks in Beijing, while state media said China would stand up to U.S. bullying. A breakthrough deal to fundamentally change China’s economic policies is viewed as highly unlikely during the two days of talks, though a package of short-term Chinese measures could delay Washington’s decision to impose tariffs on about $50 billion worth of Chinese exports. The discussions, led by U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, are expected to cover a wide range of U.S. complaints about China’s trade practices, from accusations of forced technology transfers to state subsidies for technology development. “Thrilled to be here. Thank you,” Mnuchin told Reuters at his hotel when asked if he expected progress. He made no other comments. As Mnuchin arrived, Trump tweeted: … [Read more...] about Trump praises China’s Xi as trade talks begin in Beijing

Chinese President Xi Jinping on Tuesday promised to open the country's economy further and lower import tariffs on products including cars, in a speech seen as conciliatory amid rising trade tensions between China and the United States. While most of the pledges were reiterations of previously announced measures, Xi's comments sent U.S. stock futures, the dollar and Asian shares higher. Xi said that China will sharply widen market access for foreign investors, a chief complaint of the country's trading partners and a point of contention for U.S. President Donald Trump's administration, which has threatened billions of dollars in tariffs on Chinese goods. The speech at the Boao Forum for Asia in the southern province of Hainan had been widely anticipated as one of Xi's first major addresses in a year in which the ruling Communist Party marks the 40th anniversary of its landmark economic reforms andopening up under former leader Deng Xiaoping. Xi said China would raise the foreign … [Read more...] about China’s Xi renews pledges to open economy, cut tariffs this year

Vietnamese businesses are depending less on the Chinese market and looking more to Japan and South Korea, according to a press statement released by HSBC on Thursday. China remains the most important market for Vietnam, with 39 percent of local businesses considering the northern neighbor their top partner, HSBC said in its report, titled: ‘Navigator: Now, next and how for business.’ However, Vietnamese firms are also gravitating towards Japan and South Korea, the report, which surveyed 6,000 businesses across the globe, said. Japan and South Korea round up the top three as the top trading partners for 29 and 24 percent of Vietnamese businesses. According to economists, the shift from China to Japan is partly due to the signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) between 11 countries back in March, which includes Vietnam and Japan.  The new agreement will reduce tariffs in countries that together amount to more than 13 … [Read more...] about Vietnamese firms turn their backs on China for Japan, S Korea: report