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The surge in China's steel exports, which rebounded to a record last month, should be a one-off event and may not lead to tightened tax hurdles in the short term, analysts said. The world's largest steel producer has cut tax rebates and increased duties on steel exports to help curb the overall trade surplus and discourage production of low value-added...
China saw a growth of almost 45 percent in foreign direct investment (FDI) actually used in the first seven months of this year, due partly to high interest from overseas investors, the Ministry of Commerce said on Wednesday. But analysts said it should not rule out possibility for short-term speculative capital, or hot money, rushing into the mainlan...
As a concession in the Free Trade Agreement with the 10-nation trading bloc ASEAN, India is willing to bind zero duty for crude oil imports only from Brunei, writes the Hindu Business Line. We have agreed to phase out duties on crude oil over a period of time for Brunei and not for any other country, an official said. Though India has unilaterally scr...
The U.S. Commerce Department's Bureau of Industry and Security said Tuesday that Ingersoll Machine Tools (IMT) of Rockford, Ill., has agreed to pay a $126,000 civil penalty to settle allegations that it committed eight unlicensed deemed exports to Italian and Indian foreign nationals in violation of the Export Administration Regulations. Companies tha...
The U.S. Court of International Trade last week ruled that two of India's biggest shrimp exporters to the United States would not receive roughly $15 million in duty rebates, Live Mint reported Wednesday, The court essentially reversed a cut in antidumping duties enacted recently by the U.S. Commerce Department on shrimp exported from India from...
The maritime customs administration published China's import and export status in the last 7 months on Aug. 11. According to customs, China's total value of imports and exports reached $1,482.11 billion by the end of June. In addition, it is 26.4 percent higher than the same period last year. The value of exports reached $802.91 billion, 22.6 percent m...
Foreign sales of Chinese textiles and garments grew at a single-digit pace in the first seven months, compared with the year-on-year growth rate of 24.4 percent for the same period last year, the General Administration of Customs said here on Tuesday. Mounting production costs and weak demand abroad combined to account for the slowdown, industry obser...
Courier giant UPS announced on Tuesday it expected to deliver more than 19 million items for the ongoing Beijing Olympic Games. The items included all the Games-related equipment and auxiliary appliances used at competition venues. These ranged from tennis balls and canoes to computers and scoreboards. UPS, the official logistics and express deliver...
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