China’s Heat Wave Strains Its Economy
Faced with China’s most searing heat wave in six decades, factories in the country’s southwest are being forced to close. A severe drought has shrunk rivers, disrupting the region’s supply Continue Reading
China’s power shortages disrupt nonferrous operations
Highlights Several parts of China face unprecedented heatwaves Authorities order industrial production restrictions amid power crunch Sichuan industry most affected due to power supply issues Authorities in several parts of Continue Reading
Toyota, CATL Shut Plants in Sichuan as Power Crisis Worsens
Toyota Motor Corp. and Contemporary Amperex Technology Co. , the world’s top battery maker, are closing plants in China’s Sichuan province as a drought-induced power crisis worsens. The Japanese automaker Continue Reading
Disappointing Chinese Demand Takes Toll On Oil Prices
Uncertainty about the Iran nuclear deal and disappointing Chinese crude demand and refinery throughput are creating headwinds for crude. Chart of the Week Can the German Economy Fall by the Continue Reading
Column: China stockpiled oil in July despite weak imports, refinery runs
China’s refinery processing and crude imports were unambiguously weak in July, but the world’s largest oil importer still added to stockpiles, maintaining a trend of building inventories. China added about Continue Reading
China’s Measures to Boost Economy Don’t Match Past Efforts
For the past two decades, China has conditioned global companies and markets to anticipate big government spending at any hint of an economic slowdown. Now, as growth sputters, Beijing is Continue Reading
Hydropower In China Struggles Amid Worst Heatwave In Decades
The southwestern Chinese province of Sichuan is baking in the worst heatwave in six decades, with hydropower generation from the Yangtze River falling and factories closing to ease the pressure Continue Reading
China races to alleviate drought, power cuts amid record heatwave
China is scrambling to alleviate power shortages and bring more water to the drought-hit basin of the Yangtze river as it battles a record-breaking heatwave by deploying relief funds, seeding Continue Reading
China’s Sichuan limits power to homes, offices amid extreme heat
China’s southwestern province Sichuan began limiting electricity supply to homes, offices and malls on Wednesday, due to a severe power crunch driven by extreme heat waves and drought, according to Continue Reading
China’s Growth Slowed Across All Fronts in July, Prompting Unexpected Rate Cut
China’s economy stumbled in July as a two-month boost from easing lockdowns faded, prompting the country’s central bank to unexpectedly cut two key interest rates in an effort to shore Continue Reading
China to discourage abortions to boost low birth rate
China will discourage abortions and take steps to make fertility treatment more accessible as part of efforts to boost one of the world’s lowest birth rates, its National Health Authority Continue Reading
No China Stimulus Good Enough for Stocks Fixated on Covid Curbs
Delivery drivers pass through a security checkpoint as several city blocks are sealed off due to Covid-19 in the Meilong township of Shanghai, China, on Aug. 15. Photographer: Qilai Shen/Bloomberg Continue Reading
China’s Crude Processing Dips To Lowest Since March 2020
Crude throughput at Chinese refineries slumped in July to the lowest level since the height of the pandemic in March 2020, amid unplanned facility outages and lower processing rates at Continue Reading
Even With Biggest-Ever Climate Bill, US Lags China’s Green Spending
The historic US climate deal that has now passed both chambers of Congress is being touted as one of the most ambitious decarbonization commitments made by any government to date. Continue Reading
China to lift Aug fuel exports but 2022 shipments to drop to 7-year lows
Diesel, gasoline, jet fuel shipments to drop 30%-40% from 2021 August exports of diesel to top 1 mln T for first time in a year Full-year fuel export volumes to Continue Reading
Gloomy China Economic Outlook Cools Stocks Rally: Markets Wrap
BlackRock’s Wei Li says equity markets are not “appropriately” pricing in a growth slowdown in the US and Europe. U.S. equity-index futures slipped, stocks were mixed and commodities from oil Continue Reading
‘No One Immune’ Amid China Property Turmoil, JPMorgan Says
Chinese developers may report a 30% year-on-year decline in first-half earnings due this month, which will likely weigh on sentiment, according to JPMorgan Chase & Co. analysts. “No one is Continue Reading
China Growth Slows Across All Fronts in July, Prompting Unexpected Rate Cut
China’s economy stumbled in July as a two-month boost from easing lockdowns faded, prompting the country’s central bank to unexpectedly cut two key interest rates in an effort to shore Continue Reading
The Bursting Chinese Housing Bubble Compounds Beijing’s Economic Woes
China’s deflating property bubble is imperiling the world’s second-largest economy with effects that could ripple for years. Home prices are dropping in many cities after a long period of increase, Continue Reading
China Heralds Another Major Oil Discovery
China’s state-run China Petrochemical Group, Sinopec, says it has discovered a massive oilfield in the Tarim Basin, containing 1.7 billion tons of oil reserves. The discovery is the result of Continue Reading
CHINA DATA: Independent refineries boost discounted crudes imports 33% on month in July
China’s independent refineries boosted imports of discounted crudes from Venezuela, Iran, and Russia by 32.8% month on month to 8.3 million mt, or 1.96 million b/d, in July via the Continue Reading
China’s Mounting Risks Set Stage for PBOC to Rein In Stimulus
Bloomberg News China may be ready to curb some of the excess liquidity sloshing in the banking system as it turns its focus to mitigating risks in the financial industry. Continue Reading
The US-China Rift Moves Climate Politics Into an Era of Competition
This month’s biggest climate milestones happened over one weekend. On Sunday, the US Senate approved hundreds of billions of dollars in climate and clean-energy spending. Just two days before, climate Continue Reading
Tesla Faces Crowded Field in China as New-Energy Car Market Booms
China’s homegrown new-energy vehicle makers are booming as demand surges, with sales now forecast to hit a record six million this year in the world’s largest auto market. Warren Buffett-backed Continue Reading
South Korea Suffers Worst Rainfall in Eight Decades
South Korea’s heaviest rainfall since World War II submerged cars on the streets, flooded subway stations and left at least eight people dead. The downpours also hit neighboring North Korea, Continue Reading
China’s suspension of dialogue with US may further delay climate agenda
Highlights Bilateral climate agenda moves from collaboration to competition COP27 outcomes could be impacted Green hydrogen, CCUS, methane reduction likely to be hit China’s suspension of climate dialogue with the Continue Reading
China’s commodity imports mixed with weak crude, improving metals
China’s imports of major commodities presented a mixed picture in July, with crude oil undeniably weak, but some signs of life in industrial metals such as copper and iron ore. Continue Reading
Two Chinese Cities Approve Baidu’s Unmanned Self-Driving Taxis
China took a notable regulatory step in the field of driverless taxis, with two cities giving Baidu Inc. BIDU -1.61%▼ approval to operate ride-hailing services without a driver or a Continue Reading
CHINA DATA: July crude imports rise 1% from June’s 47-month low to 8.8 mil b/d
China’s crude oil imports remained weak, as expected, in July, edging up a mere 0.9% to 8.83 million b/d from the 47-month low in June amid destocking activity and slow Continue Reading
China’s exports gain steam but outlook cloudy as global growth cools
China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its struggles to recover from a COVID-induced slump, but weakening global demand could Continue Reading
China Eases Rules for International Covid Flight Suspensions
China shortened the length of suspensions for inbound airline flights that carry passengers infected with Covid-19, the latest sign the nation may be ready to ease virus-control measures for international Continue Reading
China’s Export Growth Stays Unexpectedly Robust, Offsetting Broader Weakness
China’s export machine remained surprisingly resilient in July following a strong bounceback from the spring’s harsh Covid-19 restrictions, defying again predictions of softening global demand for Chinese-made goods. Chinese shipments Continue Reading
China Starts Construction Of $22B Expansion Of Transmission Line Network
China’s largest utility will soon begin the construction of some $22 billion of new long-distance, ultra-high-voltage transmission lines to connect more wind and solar installations to the grid. State Grid Continue Reading
China’s soy crushing rates hit year-to-date low in August as negative margins force run cuts
Soy crushing plants reduce operations amid sharp losses China’s soybean demand projections revised down for August But soybean oil entering stronger demand season in the month The operating rate at Continue Reading
Chinese Top Battery Maker Halts N. American Plans After Pelosi Visit To Taiwan
Note: According to Reuters’ sources, CATL is pressing ahead with plans to deliver lower-cost lithium iron batteries to Ford Motor Co. and with plans for battery production in North America Continue Reading
Russia sees largest COVID cases daily increase since April
Russia registered 17,126 new cases of coronavirus in the last 24 hours, the highest daily increase since April 2, the country’s anti-pandemic taskforce said in a statement. The taskforce said Continue Reading
Pelosi’s Taiwan Trip Spurs Chinese Battery Giant to Pause Plant Debut
Pelosi’s Taiwan Trip Spurs China Battery Giant to Pause Plant Debut A giant Chinese supplier of electric-vehicle batteries decided to push back announcing a multibillion-dollar North American plant to supply Continue Reading
India could surpass China as world’s biggest minerals buyer, says economist
China’s “precarious” debt trajectory and its slowing population growth mean it could be eclipsed by India as the world’s most important buyer of minerals in a decade, according to Dambisa Continue Reading
Blackouts Hit Asia As LNG Prices Soar In Tight Global Market
Emerging economies in Asia face prolonged electricity crises and continued rolling blackouts as spot LNG prices surge and high demand from Europe is pricing Southeast Asia out of the tight Continue Reading
China’s Property Crisis Threatens to Drag Down Steel Industry
Beijing reluctant to spend its way out of real-estate troubles Goldman sees steel demand heading for 5% decline this year Bloomberg News China’s steel industry is entering a precarious new Continue Reading
How China Could Send LNG Prices Into The Stratosphere
Six years ago, China suffered a severe natural gas shortage and has since been very careful to ensure it has as much gas as it needs before winter. One of Continue Reading
Australia considers curbing gas exports to avert domestic supply crunch
Decision in October on whether to restrict exports – minister East coast shortfall could equal 10% of demand – watchdog Supply gap equivalent to 14 LNG spot cargoes Government extends Continue Reading
China’s Economy Deteriorated Further in July, Beige Book Says
Residents line up for a Covid-19 test in Shanghai, in June. Photographer: Qilai Shen/Bloomberg Bloomberg News China’s economy weakened further in July amid a resurgence in Covid outbreaks, China Beige Continue Reading
Tesla Inks Battery Materials Deals With Two China Suppliers
Tesla Inc. has signed new long-term deals with two of its existing Chinese battery-materials suppliers, the latest move by automakers to secure supplies amid intensifying competition. Zhejiang Huayou Cobalt Co. Continue Reading
Made-in-Vietnam Electric Vehicles Are Heading to the U.S. Market
A VinFast SUV was unveiled at the 2021 L.A. Auto Show in Los Angeles. Vietnam’s Vingroup JSC VIC -4.48%▼ became a corporate juggernaut in its home country, operating everything from Continue Reading
Japan’s manufacturing at 10-month low in July on auto parts shortage, rising costs
Japan’s manufacturing sector slowed in July, as the au Jibun Bank Japan purchasing managers’ index compiled by S&P Global Commodity Insights dipped to 52.1 from 52.7 in June, the data Continue Reading
China Home Sales Plunge in July, as Mortgage Revolt Deters Buyers
A nascent two-month recovery in China’s home sales ended in July, as a widespread mortgage revolt over concerns that ailing property developers wouldn’t be able to deliver still-unfinished apartments weighed Continue Reading
China Factory Activity Sees Shock Contraction on Outbreaks
China’s factory activity unexpectedly contracted in July, reversing earlier economic momentum as sporadic Covid outbreaks weigh on the recovery. The official manufacturing purchasing managers index fell to 49 from 50.2 Continue Reading
Volkswagen Group China unveils its first eVTOL passenger drone prototype: V.MO
Volkswagen Group China unveiled its first electric Vertical Take-Off and Landing (eVTOL) passenger drone prototype, as part of its strategy to explore and break new ground in fully electric and Continue Reading
Russian Gas Pivot Toward China Will Ease Europe’s Energy Crunch
Russia is boosting natural gas shipments to China as it curbs flows to Europe, a dynamic that may offer some respite from the unprecedented rally in energy costs, according to Continue Reading