International Trade

More countries use yuan to settle international payments

More countries use yuan to settle international payments

Of the 160 countries that settled payments with Hong Kong and the mainland last month, 47 had at least 10 per cent of their transfers made out in the yuan, according to SWIFT, a global member-owned co-operative servicing financial institutions.

Thursday, 23 May, 2013, 4:44am

China warns EU against protectionism on solar panels

The EU executive on Wednesday proposed heavy anti-dumping tariffs of around 47 per cent on imports of Chinese solar panels. Photo: AFP

Beijing urged the European Union on Thursday to avoid engaging in protectionism, after Brussels proposed an anti-dumping levy on imports of Chinese solar panels.

The EU’s executive arm, the European Commission, is considering a heavy tariff of 47 per cent, an EU source said, as European solar panel makers complain they are being undercut by cheap Chinese imports.

9 May 2013 - 9:16pm

China's April export data beats market target

The surge in export and imports led the mainland to record a trade surplus of US$18.2 billion for last month. Photo: Reuters

The mainland's export growth last month may be too good to be true, with economists unanimously linking the strong performance to speculative fund inflows betting on yuan appreciation. The situation adds to the complexity in reading the country's real economic strength.

9 May 2013 - 5:13am

Canton Fair spring session ends with 9pc rise in orders over October

The 113th Canton Fair attracted nearly 203,000 visitors from 211 countries and jurisdictions. Photo: Xinhua

Speaking at the closing press conference, Liu Jianjun, the fair's spokesman and deputy director general of the China Foreign Trade Centre, said the 113th session of the fair, officially known as the China Import and Export Fair, attracted nearly 203,000 visitors from 211 countries and jurisdictions.

6 May 2013 - 11:00pm

'Made in America' means added pain for Hong Kong

'Made in America' means added pain for Hong Kong

For the past 10 years, Hong Kong's economy has been boosted by twin external superchargers. Now, both are in danger of breaking down.

2 May 2013 - 3:47am 13 comments

HKMA's push for yuan as an economic pillar is puzzling

HKMA's push for yuan as an economic pillar is puzzling

Why should a company outside of China want to accept payment in yuan for goods exported to China? Where can it find yuan to pay for imports from China?

28 Apr 2013 - 5:02am 2 comments

Canada looks east with professional services expo in Hong Kong

Canada's effort to lessen its trade reliance on the United States by expanding into China has found an effective launching pad in Hong Kong, says Canadian International Trade Minister Ed Fast.

14 Apr 2013 - 6:16am

Iceland PM Johanna Sigurdardottir arrives in Beijing

Iceland Prime Minister Johanna Sigurdardottir. Photo: Xinhua

Iceland's Prime Minister Johanna Sigurdardottir arrived in Beijing yesterday at the start of a five-day official visit to China.

14 Apr 2013 - 7:05am

Big hurdles to three-way, free trade talks

Chinese representative Yu Jianhua (left), South Korean representative Choi Kyong-lim (centre) and Japanese representative Koji Tsuruoka (right) at the trilateral talks on the free trade agreement. Photo: Xinhua

Territorial tensions, rivalries and suspicions are hardly the ideal environment for long-awaited free-trade talks between China, Japan and South Korea. But Beijing's wish to counter the American-led push for a Trans-Pacific partnership (TPP) that does not include China - part of Washington's strategic pivot back towards Asia and the Pacific - has helped get them off the ground. 

1 Apr 2013 - 3:00am

Beijing in push for free trade deal with Japan, South Korea

Yu Jianhua (1st left), representative of China, speaks during the trilateral talks in Seoul on March 26, 2013. China, Japan and the South Korea started the first round of trilateral talks on the free trade agreement. Photo: Xinhua

Long-awaited talks on a free trade deal involving China, Japan and South Korea opened yesterday. And while tensions, rivalries and suspicions cloud their relations, Beijing is keen to counter US initiatives in the region, which has so far excluded China.

27 Mar 2013 - 5:40am

Goal of yuan convertibility within reach

Goal of yuan convertibility within reach

China is no longer just the world's biggest factory - it is the biggest factor in many parts of the global economy. "Made in China" is now being matched by "Bought by China" as the country's tourists, consumers and companies purchase more products, services, commodities and properties in other parts of the world.

27 Mar 2013 - 3:09am 3 comments

China to strengthen regional exchanges amid rising trade

Yang Jiechi, Foreign Minister

Beijing will look to enhance exchanges with neighbouring countries as trade between China and the region exceeded the volume of bilateral trade with the United States and Europe, Foreign Minister Yang Jiechi said yesterday.

10 Mar 2013 - 6:56am

Commitment to trade cements Hong Kong-Chile ties

Diving helmets displayed at Hong Kong Maritime Museum. The brass bell of the former three-masted Chilean training ship, 'General Baquedano', will also be displayed as part of an exhibition. Photo: David Wong

For the first time in well over a century, a part of Chile's naval history with Asia has returned to Hong Kong. The brass bell of the former three-masted Chilean training ship, "General Baquedano", along with a ceremonial sword that belonged to an officer who served on board the vessel during one of its voyages circumnavigating the globe, will be displayed as part of an exhibition at Hong Kong's new Maritime Museum.

21 Feb 2013 - 5:46am

China says it is not top trading nation

China has denied reports it passed the United States as the largest trading nation, saying that it still trails when the values of goods are calculated using comparable free-on-board (FOB) prices. Photo: Bloomberg

China has denied reports it passed the United States as the largest trading nation, saying that it still trails when the values of goods imported and exported by both countries are calculated using comparable free-on-board (FOB) prices.

14 Feb 2013 - 4:53am

Claims China is world's No 1 trading economy are nonsense

Mainland imports of goods from the mainland via Hong Kong (left) and foreign value-added content of China's exports

If you believe the media reports, China passed another milestone last year, overtaking the United States to become the world's biggest trading economy.

14 Feb 2013 - 5:07am 8 comments

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