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Aug 6, 2013

No ties? No problem as China courts Taiwan’s remaining allies

BEIJING/MEXICO CITY (Reuters) – Taiwan’s last remaining diplomatic allies are developing increasingly tight economic ties with China, in a trend that could increase Taiwan’s diplomatic isolation if the current detente between Beijing and Taipei fails.

The world’s second-largest economy is gaining soft power with a series of investment commitments in Central America, home to the last significant bloc of countries that still maintain formal ties with Taiwan.

Jul 31, 2013

China, India gain upper hand as potash cartel crumbles

MUMBAI/BEIJING, July 31 (Reuters) – Agiculture in China and
Indian will be the biggest winner after Russia’s Uralkali
walked away from one of the world’s two big
potash cartels, paving the way for consumers to demand hefty
price cuts.

The two Asian countries account for around 30 percent of
global demand for crop nutrient potash, and had been forced to
swallow high prices for a decade in a market dominated by
Uralkali’s Belarus Potash Company (BPC) and Canpotex, a North
American producer group.

Jul 11, 2013

China’s Sinosteel in talks to acquire Nigerian steel mill

BEIJING, July 11 (Reuters) – Chinese state-owned metals
trader Sinosteel is in talks to take over a state-owned steel
mill in Nigeria and expand its capacity to 5.6 millions tonnes
from 1.3 million, Nigeria’s mining minister said on Thursday
during a visit to Beijing.

The steel mill sale and upgrade would mean investment into
Nigeria of around $6 billion, Minister of Mines and Steel
Development Musa Mohammed Sada told Reuters.

Jun 25, 2013

Chinese businessman behind $40 billion Nicaragua canal denies special ties

BEIJING (Reuters) – The mysterious Chinese businessman behind a $40 billion plan to build a canal through Nicaragua pledged transparency on Tuesday — but refused to reveal where he attended college.

Wang Jing, 40, who says his initial wealth came from a gold mine investment in Cambodia, is the only public face for a project that on paper would challenge the Panama Canal’s monopoly on transporting oil, ore and containers between Atlantic and Gulf of Mexico ports and Asian markets.

Mar 31, 2013

China’s urbanisation drive leaves migrant workers out in the cold

BEIJING/SHANGHAI, March 31 (Reuters) – Twenty minutes’ drive
from Shanghai’s glitzy financial district, dozens of migrant
workers are preparing to abandon homes in old shipping
containers, as one of the more unusual solutions to China’s
housing shortage faces the wrecking ball.

Cheap but crowded neighbourhoods are being cleared across
China as part of a stepped-up “urbanisation” campaign by China’s
new leaders. The country aims to spend an estimated $6 trillion
on infrastructure, including housing, as a projected 400 million
people become urban residents over the next decade.

Mar 21, 2013

China HSBC Flash PMI rises but first-quarter momentum seen muted

BEIJING (Reuters) – Growth in China’s vast manufacturing sector picked up in March after a holiday dip, a preliminary survey of factory managers showed on Thursday, pointing towards solid but not spectacular first-quarter growth in the world’s second-largest economy.

The HSBC Purchasing Managers’ Index for March revived to 51.7 in March from 50.4 in February, but remained below a two-year high of 52.3 reached at the beginning of the year.

Mar 21, 2013

China HSBC Flash PMI rises to 51.7 after holiday dip

BEIJING, March 21 (Reuters) – Growth in China’s vast
manufacturing sector picked up in March after a holiday dip, a
preliminary survey of factory managers showed on Thursday,
pointing towards solid but not spectacular first-quarter growth
in the world’s second-largest economy.

The HSBC Purchasing Managers’ Index for March revived to
51.7 in March from 50.4 in February, but remained below a
two-year high of 52.3 reached at the beginning of the year.

Mar 13, 2013

BHP Billiton faces corruption probe, Beijing Olympics in focus

MELBOURNE/BEIJING, March 13 (Reuters) – The U.S. government is investigating top global miner BHP Billiton Ltd for possible corrupt practices, the company confirmed, after media reports said it was being probed for its sponsorship of the 2008 Beijing Olympics.

Australia’s Fairfax Media reported that the U.S. Department of Justice and the Australian Federal Police (AFP) were investigating allegations that BHP provided inducements, hospitality and gifts to Chinese and other foreign officials.

Mar 12, 2013

China buys more U.S. corn; top feed producer wants import curbs eased

BEIJING, March 12 (Reuters) – China, the world’s second
largest corn consumer, has bought more of the United States’ new
corn crop due to be harvested after September, taking total
orders since February to around 600,000 tonnes, spurred by low
U.S. prices, traders said.

The additional cargoes were bought by private animal feed
mills, which had already bought 240,000 tonnes in late February,
with domestic prices expected to remain high.

Mar 11, 2013

Poultry checks strengthened at scandal-hit Liuhe: executive

BEIJING (Reuters) – Chinese poultry producer Liuhe Group Co is back to normal operations but with strengthened protocols, its controlling shareholder said, after being named for supplying chicken with excessive antibiotics to KFC.

In December, state television reported that poultry suppliers to fast-food chain KFC had fed chickens drugs and hormones to accelerate growth. Chinese food safety authorities also said they had found excessive amounts of antibiotics in samples tested from 2010 and 2011.

    • About Lucy

      "I am the Reuters Insider correspondent in China, where I have lived for ten of the last 15 years. Prior areas of coverage include political and general news, as well as commodities and energy policy and markets."
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