Synopsis
A lag between the withdrawal of credit and stimulus from the economy and its impact on China’s raw material purchases may mean that markets haven’t yet peaked.
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Some sectors have seen policy push an expansion in capacity, such as Beijing’s move to grow the country’s crude oil refining and copper smelting industries.
One pillar of this year’s blistering commodities rally Chinese demand may be teetering.
Beijing aced its economic recovery from the pandemic largely via an expansion in credit and a state-aided construction boom that sucked in raw materials from across the planet. Already the world’s biggest consumer, China spent $150 billion on crude oil, iron ore and copper ore alone in the first four months of 2021. Resurgent demand and rising prices mean that’s $36 billion more than the same period last year.
SOURCE / ECONOMY
By Global Times Published: Apr 20, 2021 02:33 PM
Palestinian farmer Mohammad Naim checks the growth of sugar canes at his farm in the southern Gaza Strip city of Khan Younis, on Oct. 18, 2020. (Photo by Khaled Omar/Xinhua)
The imports of sugar in China is expected to remain elevated for the next 10 years, reaching 5.52 million tons in 2030, growing at an annual pace of 5.8 percent, according to a report released by China s Ministry of Agriculture and Rural Affairs.
The high level of sugar imports will be backed by China s increasing sugar consumption level. China s sugar consumption will grow 0.9 percent annually, reaching 16.44 million tons in 2030. Domestic production of sugar will also rise to 11.35 million tons in the next 10 years, the report said.
China Plans New Food-Trading Giant With Cofco Merger and IPO msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Reunion Dinner Will Cost More for Chinese Families This Year
Bloomberg 2/4/2021
(Bloomberg)
Wang Chunxia, a retiree in China, has started shopping for the big Lunar New Year feast for her family of five, and she’s worried at just how much she’ll need to fork out for even the basics like meat and veg.
“Prices of vegetables, pork, fish and shrimps are all rising,” said Wang, who lives in the city of Baoji in the northern province of Shaanxi. Spending on this year’s celebrations could set her back more than 1,000 yuan ($155), double last year’s amount and close to what she gets as a monthly pension, she said.
China vows to solve seeds, arable land issues: top meeting Source: Global Times Published: 2020/12/18 22:18:40
Aerial photo taken on Oct. 18, 2020 shows harvesters operating in rice fields at Jiangzhuang Village of Luanzhou City in north China s Hebei Province. China s grain output reached nearly 670 billion kg in 2020, up 5.65 billion kg, or 0.9 percent, from last year, the National Bureau of Statistics (NBS) said on Thursday. This marks the sixth consecutive year that the country s total grain production has exceeded 650 billion kg. The bumper harvest comes despite disrupted farming as a result of the COVID-19 epidemic, which has been held in check thanks to efforts to ensure the transportation of agricultural materials and strengthen farming management.Photo:Xinhua