The container shortages that have been adding to logistics logjams in Asia and beyond are showing few signs of being resolved, according to the latest data from Container xChange, the world’s leading online platform for the leasing and trading of shipping containers. In China, average prices for used twenty-foot containers increased 94% between November 2020 and...
On Jan 15, weeks ahead of Spring Festival’s typically high season, pickup trucks were snaking their way into the Shenzhen Qianhai Comprehensive Bonded Zone, ready to unload or load up containers. It was in stark contrast to the previous hushed scenes at the Chinese mainland’s first automated port upgraded from a traditional dock — Mawan...
China is aiming to have its manufacturing enterprises fully digitized by 2035, with breakthroughs in various types of intelligent manufacturing equipment, key parts and devices and software, in a bid to upgrade its massive but declining manufacturing sectors and avoid technological blockades by the US. As part of a draft action plan issued on Wednesday,...
China’s foreign trade volume surged by 29.2 percent year-on-year to reach 8.47 trillion yuan ($1.29 trillion) in the first quarter of 2021, getting off a robust start for the year despite the world is still grappling with the cloud of a global coronavirus outbreak resurgence. A humming export machine could send China’s GDP growth in...
Surges in bulk commodity prices are putting pressure on China’s manufacturing sector, pushing authorities and industry participants to seek plans to stabilize the market to fend off potential disruptions and risks. The price of staple commodities such as copper, aluminum, steel and other manufacturing raw materials have jumped significantly this year, with futures prices increasing...
China’s consumption is firing on all cylinders including tourism and box office in the three-day Qingming Festival holidays to a level that is approaching, or even surpasses that of 2019, industry practitioners and companies said, as Chinese consumers rushed to unleash their spending desires after the country lifted restrictions on people movement due to successful...
With the signing of the Regional Comprehensive Economic Partnership (RCEP), upgraded China-ASEAN Free Trade Agreement and upcoming visits by four foreign ministers of ASEAN countries to Beijing, China and ASEAN are set to expand their economic and trade cooperation. Officials, analysts and companies expect broader cooperation between China and ASEAN, including trade, high-tech cooperation and...
China’s March official manufacturing Purchasing Managers’ Index (PMI) expanded to the highest level this year after a slight dip in the previous month, data from the National Bureau of Statistics (NBS) showed, indicating a recovery of the manufacturing sector as domestic consumption climbed and global demands rose. The country’s manufacturing PMI stood at 51.9 percent...
The Chinese government has warned clothing brand H&M it will not earn a penny in the country if it refuses to buy cotton from the Xinjiang region. H&M and other western brands are facing a backlash in China after they expressed concern about the alleged use of forced labour in cotton production. China has been...
Zhao Jing, a regional sales manager at a Guangzhou-based pigment manufacturer, said she had barely felt a pinch from the pandemic as her company doubled its export value on cross-border e-commerce platforms in 2020, as it has done for the past three years. Zhao speaks for many Chinese exporters. Last year, the country’s foreign trade...