Industry insiders say many Chinese farmers have decided to hoard grains – instead of selling to the government – as a result of the coronavirus pandemic, but officials say China’s purchasing of the summer harvest is on track.

China’s exports surged by 7.2 per cent in July from a year earlier, while imports contracted by 1.4 per cent under pressure from a weak global economy.

China is lagging behind on its commitments to purchase American goods under the phase one trade deal, putting the pressure on Beijing when top negotiators meet next week.

Beijing criticises cellphone ban by subsidiary in northern Heilongjiang province as a ‘crude step’, but rumours swirl online that there’s a cover-up to hide a deterioration in the quality of China’s crucial grain stockpiles.

Commerce vice-minister Wang Shouwen tells American firms he hopes they can play a ‘bridging role’ at a time of rising tensions.

China’s imports of farm goods jumped in June, as it looks to comply with the US trade deal, but also fill domestic supply gaps and hold down food prices.

Shanghai will host the third annual China International Import Expo in November, as China seeks to portray itself as a backer of multilateralism and an open economy.

China’s big firms had a first half of 2020 to forget, but profits have returned in recent months in line with wider economic conditions.

The People’s Bank of China has defied expectations by not cutting banks’ reserve requirement ratio for two months, but it is unlikely to completely end stimulus measures.

China added US$10.9 billion of the US Treasury securities in May, the first purchase since February, although the US$1.08 trillion total is slightly down from 12 months earlier.

Eleven of China’s 31 provincial-level jurisdictions showed strong economic improvement in the first half of the year compared to the first quarter, indicating continued recovery from the pandemic.

Foreign direct investment (FDI) from the US to China rose 6 per cent from a year earlier in yuan terms despite tensions between the world’s two largest economies.

China’s economy posted better-than-expected growth of 3.2 per cent in the second quarter, but the recovery could plateau on subdued consumer spending and weaker exports.

China’s economy grew by 3.2 per cent in the second quarter of 2020, avoiding a recession following a historic first-quarter contraction caused by the coronavirus pandemic.

Chinese exports returned to growth last month, with a rise of 0.5 per cent from a year ago, while imports in US dollar terms also rose by 2.7 per cent in June.

China is set to announce its second quarter gross domestic product growth rate on Thursday, with many economists predicting a sharp rebound.

China is hopeful its 1.4 billion consumers can help plug the gap caused by a plunging overseas demand for products caused by the global coronavirus pandemic.

US will pose ‘increasingly severe threat’ to future Chinese development through dollar’s global monopoly.

China says it hopes India will stop targeting Chinese exports to ensure ‘healthy and stable’ trade ties, but anti-China sentiment in India remains high.

Beijing is expected to tolerate the property investment boom in China as it could help growth, with real estate investment in Shenzhen up 17.0 per cent in the first five months of 2020.

China’s food service industry is facing fresh uncertainty after authorities stepped up scrutiny of imports in response to a new coronavirus outbreak in Beijing.

Last month, Chinese Premier Li Keqiang expressed Beijing’s interest in joining the Comprehensive Progressive Trans-Pacific Partnership Agreement (CPTPP).

Products from German slaughterhouse Toennies have been banned from entering China after a coronavirus outbreak at the facility, the national customs agency says.

China has urged banks to surrender 1.5 trillion yuan (US$212 billion) in profits this year to help businesses weather the impact of the coronavirus.

Foreign direct investment into China rose 4.2 per cent from a year ago in May to US$9.87 billion, marking the second straight monthly increase.

Seafood traders in China are anxiously awaiting clarification after Beijing halted imports of European salmon amid concerns it was the source of a new outbreak of coronavirus.

China’s industrial production growth was strong in May, but improvements in retail sales and fixed asset investment fell short of breaking into positive territory.

Statement comes amid speculation China will soon roll out its own ‘unreliable entity list’ to retaliate against US firms.

China has increased its purchases of US farm products as part of the phase one trade deal, while also transferring responsibility for the purchases.

The Comprehensive Progressive Trans-Pacific Partnership Agreement followed Donald Trump’s decision to withdraw the US from the Trans-Pacific Partnership three years ago.