China

China Retaliates With Tariffs On US Goods After Trump’s Move
04 Feb

China Retaliates With Tariffs On US Goods After Trump’s Move

CUD Wontumi0 CommentsBusiness, ,
China will impose tariffs of 15 percent on imports of coal and liquefied natural gas from the United States, in retaliation for Washington’s 10 percent levies on Chinese goods. China’s Ministry of Finance also announced on Tuesday that there will be 10 percent tariffs on imports from the US of crude oil, agricultural machinery, large-displacement vehicles and pick-up trucks. The new measures were in response to the “unilateral tariff hike” by the US, it said, adding that Washington’s decision “seriously violates World Trade Organization rules, does nothing to resolve its own problems, and disrupts normal economic and trade cooperation between…
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China, Canada And Mexico Vow Swift Response To Trump Tariffs
02 Feb

China, Canada And Mexico Vow Swift Response To Trump Tariffs

CUD Wontumi0 CommentsBusiness, , ,
Canada, Mexico and China have vowed to respond to sweeping new tariffs to their exports to the US announced by President Donald Trump. Trump said a levy of 25% on Canadian and Mexican imports as well as an additional 10% tax on Chinese goods would come into force on Tuesday. Canadian energy faces a lower 10% tariff. The US president said the move was in response to his concerns about illegal immigration and drug trafficking - two of the main promises on which he was elected. In response, both Canada and Mexico said they were preparing similar tariffs on US…
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China Leads World In Energy Transition, Wood Mackenzie Says
16 Dec

China Leads World In Energy Transition, Wood Mackenzie Says

wontumionlineBusiness,
China is leading the global energy transition, aiming to source half of its power from low-carbon sources by 2028, including solar, wind, nuclear, and energy storage, according to Wood Mackenzie. The country is also outpacing global competition in the electric vehicle (EV) sector, with BEVs projected to account for two-thirds of China’s car sales by 2034. This shift is transforming both the domestic and global markets, with Chinese EV brands like BYD gaining significant ground. China’s dominance extends to its clean energy sector, where low-carbon sources will provide half of the country's electricity by 2029, and solar and wind power…
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Alcaraz Beats Sinner In Dramatic China Open Final
03 Oct

Alcaraz Beats Sinner In Dramatic China Open Final

wontumionlineSports,
Carlos Alcaraz came from a set down to edge out world number one Jannik Sinner in a dramatic China Open final. Alcaraz, 21, continued his fine run of form against the Italian and has now won each of their last three encounters after coming through 6-7 (6-8) 6-4 7-6 (7-3). It is the Spaniard’s fourth ATP Tour title this year and 16th of his career. “Jannik once again showed he’s the best player in the world, he’s unbelievable and plays such a high level of tennis,” Alcaraz said. “I had my chances in the first set and didn’t take it.…
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China Starts Import Of Mutton Products From Africa
09 Sep

China Starts Import Of Mutton Products From Africa

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A shipment of mutton from Madagascar was cleared at Changsha Customs in central China’s Hunan Province on Sunday, marking China’s first mutton imports from Africa and an important breakthrough in China-Africa meat trade. Customs officials conducted an on-site inspection of the frozen mutton shipment, weighing 1,000 kg in total. The mutton was shipped by air from Madagascar to Guangzhou Baiyun International Airport, in the capital of south China’s Guangdong Province, and then transported by road to Changsha, with the entire delivery time taking approximately 36 hours. The Madagascar mutton will be sold in various restaurants and supermarkets across Hunan, a…
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China And Ghana Announce Elevation Of Bilateral Ties
06 Sep

China And Ghana Announce Elevation Of Bilateral Ties

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Chinese President Xi Jinping and Ghanaian President Nana Addo Dankwa Akufo-Addo met on Thursday and announced the elevation of China-Ghana ties to a strategic partnership. Akufo-Addo is in Beijing for the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC). Xi said China is willing to strengthen the alignment of development strategies with Ghana and to continue providing assistance to the best of its ability to Ghana. China stands ready to expand cooperation with Ghana in the fields of agriculture, fisheries, energy, mineral resources and infrastructure, and hopes that Ghana will continue to offer relevant support and facilitation to Chinese…
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Switzerland, China Two Other Countries Account For Half Of All Exports From Ghana
16 Aug

Switzerland, China Two Other Countries Account For Half Of All Exports From Ghana

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Findings from the Ghana Statistical Service’s 2022 Trade Vulnerability Report indicate that four countries, account for over half of all exports while six countries are the source of about half of all imports. The countries are Switzerland, China, Canada and South Africa. The report further indicated that over two-thirds of all exports come from only two specific products, gold bullion and crude petroleum oil. Imports on the other hands have about 126 commodities contributing to two-thirds of all imports. Professor Samuel Kobina Annim, the Government Statistician, presenting the report’s findings, said the data serves as a valuable tool for policymakers,…
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China, World Bank Exploring Solutions To Debt-Distress Deadlock
12 Apr

China, World Bank Exploring Solutions To Debt-Distress Deadlock

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China and the World Bank are exploring compromises over how to restructure billions of dollars of debt held by poor nations, seeking a long-sought breakthrough that could unlock desperately needed aid. Discussions on Wednesday, April 12, 2023, in Washington, during the World Bank and International Monetary Fund’s Spring Meetings, are aimed at ending a deadlock among the world’s biggest creditor nations on how to renegotiate several poorer nations’ debt, which had become unsustainable amid surging inflation and a stronger dollar. A proposal under discussion this week would see the World Bank provide fresh low-interest loans — known as concessional lending…
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We’re Committed To Helping Ghana Resolve Current Economic Crisis – China Assures
28 Mar

We’re Committed To Helping Ghana Resolve Current Economic Crisis – China Assures

wontumionlineNews,
The Chinese government has given a strong indication that it is willing to help Ghana secure the balance of payments bailout from the International Monetary Fund (IMF). According to the Chinese government, it has an obligation to ensure the Ghanaian economy does not collapse. This is according to the Chinese Finance Minister Mr Liu Kun. Mr Kun explained that this is due to the confidence they have in the long-term economic prospects of Ghana. “We know that these are short-term challenges which we as responsible creditors remain committed to resolving. The long-standing and prosperous relationship between Ghana and China imposes…
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Debt Servicing Relief: China Pledges To Support Ghana
28 Mar

Debt Servicing Relief: China Pledges To Support Ghana

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China’s Finance Minister, Liu Kun, says his country has confidence in the management of the Ghanaian economy, and that his country would help Ghana seek debt servicing relief. At a meeting in Beijing with Ghana’s Finance Minister, Ken Ofori-Atta, last week, Mr. Kun said the Chinese authorities “have confidence in Ghana’s economic management and its long term economic viability.” Mr. Kun said he wanted to ensure that Ghana’s external debt treatment request was considered expeditiously and was thus accompanied to the meeting with Mr. Ofori-Atta by a high-level delegation including Mr. Wu Fuli, Chairman of China Exim-Bank. Minister Kun said…
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