China needs to reduce its dependence on imported crude oil, which reportedly stood at nearly 70 percent in 2018, because energy security is a matter of national security.If the ratio keeps rising, internal and external policies adopted by the Chinese government will be constrained by an excessive de Read More

Italy's endorsement of the China-proposed Belt and Road Initiative (BRI) hasn't had much impact on Indian officials, who have long objected to the initiative, as media reports said the South Asian country signaled it might boycott the upcoming second Belt and Road Forum, to be held in Beijing.A suic Read More

China will cut value-added tax (VAT) rates as part of a tax reduction package amounting to 400 billion yuan (about 63 billion U.S. dollars) this year. The decision was made at a State Council executive meeting chaired by Premier Li Keqiang on Wednesday.The tax rate, starting from May 1, will be lowe Read More

PET bottle chip exports totaled 513kt in Jan-Feb 2019 (HS code 39076110, actual figure shall be higher), y-o-y growing 38.6%. Export order intake in Jan-Feb amounted to 600kt, up 38% on annual basis.Q1 exports extended last year’s momentum, unlike overseas market supply shortage in 2017, the strengt Read More

Price of cost side and product side divided In early-Mar, price of polyester feedstock climbed up driven by commodity market, but polyester plants slashed price to reduce inventory. Speculative procurement from PFY end-users improved　amid rising feedstock, and PFY plants witnessed eased inventory bu Read More

On Mar 15, Premier Li Keqiang mentioned that VAT would be reduced from Apr 1 in the answers to reporters’ request. VAT of cotton may be decreased 1% to 9% and that of cotton yarn and grey fabric may be revised down 3% to 13%, which will benefit textile enterprises. Thus, how much will it contribute Read More