China will impose or raise export duties on products including wood pulp, coke, alloy steel, steel billets, and some finished steel products in 2008, the Ministry of Finance (MOF) announced on Friday.
The nation will also impose temporary export tariffs on coal, crude oil, and metal ores next year, the MOF stated, without providing further details.
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China will support international investment by companies next year as part of its effort to expand channels for such outbound ventures, said Wei Benhua, deputy director of the State Administration of Foreign Exchange.
China will also relax controls on individual overseas investment, Wei said Saturday at a conference in Beijing.
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China-U.S. trade soared 15.6% to hit US$221.36 billion in the first three quarters compared with the same period last year.
According to China Customs, China’s export to the United States surged 15.8% to reach US$169.99 billion, accounting for 19.4% of China’s total exports, while the imports from the U.S. increased by 15.1% to reach US$51.37 billion, [...]
China, the world’s second-biggest energy consumer, plans to increase crude oil imports through long-term contracts and cut spot purchases to cushion against price and supply fluctuations.
“We need to gradually change the status of an over- weighted proportion of spot trading in crude oil imports,” the information office of the State Council, China’s cabinet, said in [...]
China’s trade surplus probably swelled in December, surging to a record for the year, as the nation’s export growth maintained momentum in the face of concern that some products are unsafe.
The trade gap rose 16 percent to $24.4 billion in December from a year earlier, according to the median estimate of 21 economists surveyed by [...]
China’s Shougang Corp aims to double iron production at its Peruvian unit as demand from Chinese steel makers surged, Peru Energy & Mines Minister Juan Valdivia said.
Shougang, the parent company of Beijing Shougang Co, China’s second-biggest producer of construction-grade steel, plans to invest US$700 million in the next two years in Shougang Hierro Peru SAA, [...]
