Amid U.S. trade war, China's Xi reiterates reform commitmentThe Saigon Times Daily China's President Xi Jinping poses before a bilateral meeting with Mauritius Prime Minister Pravind Kumar Jugnauth at the Great Hall of the People in Beijing, China September 2, 2018 – PHOTO: REUTERS BEIJING (REUTERS) - China is still determined to reform and wants to work with all parties to build an open world economy, Chinese President Xi Jinping said on Sunday, reiterating Beijing’s message amid a bitter trade war with Washington. The two countries have been rolling out a series of tariffs on each other’s exports as U.S. President Donald Trump’s administration seeks to tackle a range of issues from the large trade imbalance with China to forced technology transfers. China has criticised the United States for resorting to protectionist and unilateral measures and says it will keep opening up its economy, providing a fair and transparent environment for foreign … [Read more...] about Amid U.S. trade war, China’s Xi reiterates reform commitment
Trading economics china
Vietnam to accept payment in yuan in overland trade with China
The Hanoitimes - The decision is part of the State Bank of Vietnam (SBV)`s recent released circular, providing guidance on foreign currency management in cross-border trade between Vietnam and China. Vietnam will accept payment in the Vietnamese dong (VND), Chinese yuan (CNY) or fully convertible currencies for overland trade activities with China starting October 12, stated the SBV. Illustrative photo. The decision is part of the SBV's circular released on August 28, providing guidance on foreign currency management in cross-border trade between Vietnam and China. The circular applies to commercial banks and branches of foreign banks licensed to conduct foreign exchange transactions in Vietnam; branches of branches of banks located in border areas and border-gate economic zones of Vietnam and China; organizations trading in duty-free goods; organizations providing services in isolated areas at international border gates; organizations engaged in bonded … [Read more...] about Vietnam to accept payment in yuan in overland trade with China
Lao Cai boosts farm produce trade with China’s Yunnan
15:09 | 14/07/2018 VGP - A conference was organized in the northern border province of Lao Cai on July 13 to seek ways to promote the import-export of farm produce, fruits, and aquatic products between Lao Cai and China’s Yunnan province. The conference aimed at helping Vietnamese localities and firms update information on the Chinese market and customs policies for these products at a pair of international border crossings in Lao Cai and Hekou in China. Vu Ba Phu, Director of the Department of Trade Promotion under the Ministry of Industry and Trade, said Viet Nam holds substantial potential in its agro-aquatic products and fruits, supplying the demand of both domestic and international markets, including China. Lao Cai, located at the centre of the North-South Corridor in the Greater Mekong region, connects Vietnam with Yunnan province and the southwest region of China. In the first six months of 2018, the value of import-export via Lao Cai exceeded US$1.55 billion, up 29% … [Read more...] about Lao Cai boosts farm produce trade with China’s Yunnan
China US agree to abandon trade war: China’s vice premier
The US and China both fund large soft power programmes aimed at bolstering their image abroad AFP/FREDERIC J. BROWN The announcement came after high-level talks in the US capital and followed months of tensions over what President Donald Trump has blasted as an unfair commercial relationship between the two economic giants. Vice-Premier Liu He, who led Chinese negotiators in Washington said: "The two sides reached a consensus, will not fight a trade war, and will stop increasing tariffs on each other," state-run news agency Xinhua reported Sunday. Liu called the agreement a "necessity", but added: "At the same time it must be realised that unfreezing the ice cannot be done in a day, solving the structural problems of the economic and trade relations between the two countries will take time." An earlier joint statement issued in Washington said Beijing would "significantly" increase its purchases of American goods, but offered few details. The apparent detente comes after months of … [Read more...] about China US agree to abandon trade war: China’s vice premier
Border trade with China thrives
(VEN) - Vibrant import, export activities at border crossings in the first two months of 2018 promise a year of thriving cross-border trade. Record growth One of the crossings that saw record increases in import, export value was Tra Linh in Cao Bang Province, bordering China. According to Nong Son Binh, Head of the Management Board of the Tra Linh Border Crossing, major kinds of goods exported via this crossing include cashew nuts, bamboo and rattan shavings, and imported goods include coke, fabrics, speaker components, electrodes and steel scrap. Total value of imports, exports reached more than US$8.87 million in January 2018, a rise of 806.98 percent compared with January 2017. This included more than US$3.27 billion worth of exports and about US$5.60 million worth of imports. Total taxes collected from these activities exceeded VND3.43 billion, up 229.05 percent. Another example is the Huu Nghi Border Crossing to China in Lang Son Province. From the beginning of 2018 to … [Read more...] about Border trade with China thrives