Global-China Information Service

Abstract : China's only policy-oriented insurer specializing in export credit insurance reported steady business growth in the first five months of 2021. BEIJING, June 5 (Xinhua) — China’s only policy -oriented insurer specializing in export credit insurance reported steady business growth in the first five months of 2021. The China Export & Credit Insurance Corporation, or SINOSURE, served about 139,000 clients in the January-May period, increasing 16.3 percent year on year. During the period, the company underwrote about 314.63 billion U.S. dollars worth of insured businesses, up 28 percent year on year. SINOSURE is a state-funded and policy -oriented insurance company that promotes China’s foreign economic and trade development and cooperation. It was officially launched and put into operation in 2001, and its service network now covers the whole country. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal...

Abstract : China's central bank Monday conducted 10 billion yuan (about 1.56 billion U.S. dollars) of reverse repos to maintain reasonably ample liquidity in the banking system. BEIJING, June 7 (Xinhua) — China’s central bank Monday conducted 10 billion yuan (about 1.56 billion U.S. dollars) of reverse repos to maintain reasonably ample liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.2 percent, according to a statement on the website of the People’s Bank of China. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated inf...

Abstract : Amid the pandemic shock, members of the Asia-Pacific Economic Cooperation (APEC) should safeguard the multilateral trading system and strive to build an Asia-Pacific community with a shared future, China's Commerce Minister Wang Wentao said Saturday. Aerial photo taken on Jan. 14, 2021 shows the container terminal of the Lianyungang Port in Lianyungang City, east China’s Jiangsu Province. (Photo by Geng Yuhe/Xinhua ) BEIJING, June 6 (Xinhua) — Amid the pandemic shock, members of the Asia-Pacific Economic Cooperation (APEC) should safeguard the multilateral trading system and strive to build an Asia-Pacific community with a shared future, China’s Commerce Minister Wang Wentao said Saturday. APEC members should strengthen anti-virus cooperation, promote inclusive and sustainable growth, and build an Asia-Pacific community with a shared future as global development is confronted by severe challenges, Wang said while attending the APEC Ministers Responsible for Trade ...

Abstract : China is expected to embrace a tourism boom during the upcoming Dragon Boat Festival holiday, according to a recent industry report. Visitors ride camels in Kumtag Desert in Shanshan County, northwest China’s Xinjiang Uygur Autonomous Region, May 16, 2021. The county sees boom in desert tourism early May. (Xinhua/Ding Lei) BEIJING, June 5 (Xinhua) — China is expected to embrace a tourism boom during the upcoming Dragon Boat Festival holiday, according to a recent industry report. Some 100 million trips will be made by Chinese tourists within the three-day holiday starting next week, a report from online travel booking platform Ctrip estimated. It envisioned that the number of trips will return to the 2019 level in the same holiday period. Beijing, Shanghai and Hangzhou are expected to be the top three destinations, the report said, adding that middle- and short-distance trips will be favored by most tourists. This year’s Dragon Boat Festival holiday runs from June 12...

Abstract : China will properly handle disputes regarding anti-dumping and countervailing duties on barley imported from Australia, in line with the dispute settlement procedures of the World Trade Organization (WTO), the commerce ministry said on Thursday. BEIJING, June 3 (Xinhua) — China will properly handle disputes regarding anti-dumping and countervailing duties on barley imported from Australia , in line with the dispute settlement procedures of the World Trade Organization (WTO), the commerce ministry said on Thursday. The Chinese government has always respected the WTO rules and has managed its foreign trade according to these rules, Gao Feng, a spokesperson with the Ministry of Commerce (MOC), said in response to the WTO’s recent establishment of a panel to resolve the disputes. As for New Zealand’s participation in the case, Gao said that China respects the country’s right as a WTO member to be involved in hearings on the relevant disputes as a third party. China laun...

Abstract : China's foreign exchange regulator Wednesday night expanded quotas under an outbound investment scheme to meet the growing demand of domestic investors. BEIJING, June 3 (Xinhua) — China’s foreign exchange regulator Wednesday night expanded quotas under an outbound investment scheme to meet the growing demand of domestic investors. A total of 10.3 billion U.S. dollars in quotas was granted to 17 institutions under the Qualified Domestic Institutional Investor (QDII) program, a scheme for outbound investment , according to the State Administration of Foreign Exchange (SAFE). Among these institutions were fund companies, securities firms, insurers, and banks, said the regulator, adding that the move brought China’s total QDII quota to 147.32 billion U.S. dollars. The quotas approved Wednesday were the largest since the country implemented the QDII scheme in 2006. Over the years, China has gradually normalized and accelerated the issuance of QDII quotas. Since Septe...