Gazprom’s natural gas flows via the Power of Siberia pipeline to China have reached full capacity of 38 billion cubic meters annually, the Russian gas giant said on Monday. Gazprom started sending gas to China via the Power of Siberia pipeline at the end of 2019, and flows have now reached the maximum design capacity….
China is poised to impose stricter export controls on “dual-use” materials essential to defense and tech manufacturing, in what one U.S. lawmaker has called a “wake-up call.” Raw materials subject to the controls include tungsten, magnesium, titanium, and aluminum alloys and graphite—materials whose production and supply is dominated by China and that are critical to…
The Bank of China, one of the world’s largest financial institutions, is reportedly blocking yuan-denominated transfers from countries believed to be exporting to Russia in a setback to Russian importers attempting to bypass U.S. sanctions. Early this year, Russian traders expressed mounting frustrations over Chinese banks delaying and even rejecting cross-border transactions in yuan, wary…
Hong Kong revised growth expectations to the lowest end of its previous forecast, showing mounting pressures from weaknesses in exports and consumption. The city changed its 2024 growth forecast to 2.5% from a range of 2.5%-3.5% estimated in August, the Census and Statistics Department said Friday. The adjustment suggests expansion will slow from last year’s…
China’s economy likely gained momentum last month, with early indicators pointing to a rebound after the government began rolling out stimulus measures in late September. Industrial output and retail sales are expected to have grown at a faster pace in October compared to September, according to forecasts by economists in a Bloomberg survey. The government’s…
Hong Kong’s economic growth this year is expected to be near the lower end of its forecast range, Financial Secretary Paul Chan said in his weekly blog. The city’s government released a forecastBloomberg Terminal in August saying this year’s growth would be in the range of 2.5% to 3.5%. It’s set to announce full-year economic…
An expanded US-China trade war during President-elect Donald Trump’s second term could slash the Asian nation’s economic growth by two percentage points and prompt Beijing to stimulate domestic demand, according to Macquarie Group Ltd. Trump’s campaign vow to raise tariffs on Chinese goods to 60% could cause the nation’s exports to decline by about 8%…
China’s export growth surged in October to the fastest in more than two years, extending a months-long run of resilience that helped sustain the economy before a barrage of stimulus measures aimed at shoring up domestic demand. Exports rose 12.7% in dollar terms from a year earlier and imports fell 2.3%, the customs administration said…
China has lodged a complaint with the World Trade Organization over the European Union’s final tariffs on Chinese electric vehicle imports, escalating a dispute that’s straining an already fraught relationship. Beijing brought the case to the WTO’s dispute settlement mechanism on Monday to “safeguard the development interests” of the EV industry, according to a statementBloomberg…
Recent strength in Hong Kong’s economy petered off in the third quarter, with growth at 1.8 per cent year on year, prompting a coming revision of the government’s full-year forecast in the middle of November. The Census and Statistics Department, which released advance estimates on Thursday, said it would revise the gross domestic product (GDP)…