News Worms
News Worms

Chinese foreign trade sees rapid growth in first half of 2017

Chinese foreign trade sees rapid growth in first half of 2017

China's consistent US trade surplus levels have left it vulnerable to accusations of currency manipulation, particularly given the fact that the yuan fell 6.6% against the dollar previous year, its biggest decline since 1994.

Last week US President Donald Trump denounced China's trade with North Korea, saying it had grown nearly 40 percent in the first quarter, and cast doubt on whether Beijing was helping to counter the threat from North Korea.

The decline follows China's decision in February to ban all imports of North Korean coal.

Imports were up 17.2 percent year-on-year - compared with an expected increase of 14.5 percent - to $153.83 billion, lifting the trade surplus to $42.76 billion.

China's first-half trade with North Korea rose 10.5 per cent year-on-year, Chinese officials said on Thursday, as the United States urged Beijing to apply economic pressure on its neighbour.

While Beijing is North Korea's longtime ally in the region, the state has voiced frustration with North Korean leader Kim Jong Un's aggressive behavior.

Imports fell 13.2 percent to $880 million in the six months to June 30 from the same period a year earlier, the customs bureau said Thursday.

Since the July 4 ballistic missile test, U.S. Ambassador to the UN Nikki Haley has been pushing for fresh measures that may include further curbs on China's trade with North Korea.

Cui said China backed further United Nations action against North Korea for violations of United Nations resolutions such as nuclear tests and launches of intercontinental ballistic missiles (ICBMs).

On June 30, the USA took steps to penalize a Chinese bank, a Chinese shipping company and two Chinese citizens it claimed worked to help North Korea evade sanctions. "Trade related to the people livelihood in North Korea, especially if it embodies humanitarian principles, should not be affected by sanctions", said Huang at a separate news briefing. "But we are skeptical that the current pace of imports can be sustained for much longer given the increasing headwinds to China's economy from policy tightening".


editors' picks

July 14, 2017
Uber and Yandex unite business taxi
According to Uber, the new partnership will allow it to operate in 167 cities while service roughly 35 million trips each month. More than 35 million rides were performed in June between the two operations, collecting more than $130m in gross bookings.

July 13, 2017
Andy Serkis' Gollum resurfaces for a dramatic reading of Donald Trump tweets
So now, instead of imagining a red-faced man shouting into the void whenever you read a Trump tweet, you can sub in thisssssss. His performance on The Late Show with Stephen Colbert sent Twitter users into raptures, with one calling it "pure genius".

July 13, 2017
Longtime Kermit the Frog Voice Actor Replaced After 27 Years
Since his debut in 1955 on the early Henson puppet show Sam and Friends , Kermit has appeared in nearly every Muppet production. But Hennes points out that when Whitmire took over from Henson, many believed that the new Kermit simply sounded wrong.

July 13, 2017
McGregor: I'll knock out Mayweather inside four rounds
A closeup of Conor McGregor's "F**k You" suit. "He looks good for a seven or eight-figure fighter, but I'm a nine-figure fighter". Mayweather responded by pulling out a check for $100 million, reports the Daily Mail. "But that press conference was hilarious".

July 13, 2017
Chinese doctors scramble to 'rescue' ailing Nobel laureate
Ms Nauert added that Washington is anxious not only about the welfare of Mr Liu, 61, but of other dissidents held by China. If China were to release him, Jared Genser, a lawyer representing Liu internationally, said he was ready to evacuate him.

July 13, 2017
First close-ups of Jupiter's Great Red Spot from Juno flyby
In raw images released Wednesday by the Juno science team, details of the 16,000km-wide Great Red Spot have become more apparent. And earlier this week, NASA's Juno spacecraft dipped 2,200 miles above the turbulence to get a closer look at what's going on.

July 13, 2017
China sets up base in Djibouti
It went on to state that China's military development is about protecting its own security, not about “seeking to control the world .”.

July 12, 2017
The, Inc. (AMZN) Upgraded to Strong-Buy at Vetr Inc
Credit Suisse maintained, Inc. (NASDAQ: AMZN ) last released its quarterly earnings data on Thursday, April 27th. The Firm is engaged in the research, development and commercialization of prescription ophthalmic pharmaceuticals.

July 12, 2017
United States conducts successful missile defense test north of Hawaii
Chris Johnson, MDA Dir. of Public Affairs, said Tuesday morning that he couldn't comment much further on details of the intercept. It's "designed to intercept and destroy short and medium range ballistic missiles " in the final part of missile flights, U.S.

October 27, 2016
World Series Stakes are Now at an All-Time High, Thanks to the Cubs and Indians World Series
Francona, who bagged the job, soon took them to their first championship victory in 86 years, then repeated the same in 2007. Additionally, six Stanley Cups were bagged by the Blackhawks here and the Bears had won the Super Bowl championship in 1985.