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SHANGHAI (Reuters) - A slew of measures by Chinese authorities to tame soaring raw material costs has had only a fleeting effect, leaving the world’s largest manufacturing base facing the harsh reality of substantially higher input costs for the foreseeable future.
FILE PHOTO: China National Petroleum Corporation (CNPC) s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. REUTERS/Chen Aizhu/File Photo
China’s enormous manufacturing industry, population and fast-growing economy mean it has uniquely large commodity requirements that substantially exceed domestic output. The recent boom in the price of everything from copper to coal has pushed the country’s producer prices up by the most since 2008 and dragged on its recovery from the coronavirus pandemic.
BEIJING, Aug 4 (Reuters) - China s top decision-making body last Friday said it would pursue its peak carbon and carbon neutrality plans in an orderly manner, and would correct any campaign-style carbon reduction by local governments.
The announcement fuelled concerns that the world s top polluter might backtrack on climate commitments, with analysts expecting China to cool some aggressive steps to curb carbon emissions from heavy industry as it tries to balance its climate goals with economic stability.
WHAT IS CAMPAIGN-STYLE CARBON REDUCTION?
The Politburo used the term campaign-style carbon reduction for the first time on Friday, echoing a statement made by the National Development and Reform Commission (NDRC) on July 21 that it would avoid one-size-fits-all measures and campaign-style carbon reduction.
Reuters
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Smoke stacks and cooling towers of a power plant rise above a low-rise neighborhood that borders a steel plant in Anyang, Henan province, China February 18, 2019. REUTERS/Thomas Peter
BEIJING, Aug 4 (Reuters) - China s top decision-making body last Friday said it would pursue its peak carbon and carbon neutrality plans in an orderly manner, and would correct any campaign-style carbon reduction by local governments.
The announcement fuelled concerns that the world s top polluter might backtrack on climate commitments, with analysts expecting China to cool some aggressive steps to curb carbon emissions from heavy industry as it tries to balance its climate goals with economic stability.
Publishing date: Jul 25, 2021 • 3 hours ago • 3 minute read •
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BEIJING/SINGAPORE China’s soybean imports are set to slow sharply in late 2021 from a record first-half tally, confounding expectations for sustained growth from the top global buyer and denting market sentiment just as U.S. farmers look to sell their new crop.
A collapse in hog sector profitability and a sharp rise in wheat feed use are crimping demand in China, where imports this year may now be less than 100 million tonnes, compared with a recent U.S. forecast of 102 million tonnes.
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CORRECTED-RPT-Protein pinch: China s soybean imports to slow over rest of 2021 on curbed meal use Reuters 4 hrs ago By Hallie Gu and Gavin Maguire
(Corrects China soybean imports figures for June and July, 2020, and June, 2021, in the 19th and 20th paragraphs by shifting the decimal points one position to the left; corrects y/y percentage change for July imports accordingly)
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By Hallie Gu and Gavin Maguire
BEIJING/SINGAPORE, July 23 (Reuters) - China s soybean imports are set to slow sharply in late 2021 from a record first-half tally, confounding expectations for sustained growth from the top global buyer and denting market sentiment just as U.S. farmers look to sell their new crop.