Cotton import quota sets at 894,000 tons
20 Sept 2020 - China has announced an import duty quota of cotton for 2021, setting the total volume of import at 894,000 tons of which 33% will be allocated to state-owned enterprises.
Online retail sales climb 9.5% to RMB7 trillion
18 Sept 2020 - Online retail sales of consumer goods posted a 9.5% growth in China during the period of January to August, selling RMB7 trillion of goods. Online retail sales of physical merchandises surged 15.8% to RMB5.9 trillion, accounting for 24.6% of total retail sales of consumer goods. The market share was 5.2% higher than the same period last year.
China's exports of clothing resume growth
10 Sept 2020 – China’s exports of garment and clothing rebounded in August after seven months of negative growths. In August, China exported US$14.72 billion of textile, a growth of 46.96% over a year ago partly due to a strong demand for anti-epidemic textile materials. The exports of clothing also surged 3.23% to US$16.21 billion after seven consecutive months of negative growths.
China formalizes complaint methods for foreign investors
31 Aug 2020 - China has released the “Foreign Invested Enterprises Compliant Working Method” to be taken into effect on 1 October. Amended by the Ministry of Commerce, the Method contains 33 clauses in five chapters which expand the scopes of complaints, refine the working mechanism of complaints, clarify and define complaint working procedures and rules, and strengthen protection of rights. The ways complaints can be made, filed and handled, the time needed to process complaints, and available appeal methods in cases of opposing views to complaint results are stipulated. In protecting the rights of the complainants, there shall not be negative influence on their eventual litigation rights, rights to protect commercial secrets, commercial information and personal data involved.
China-Singapore Guangzhou Knowledge City approved
28 Aug 2020 – The State Council has nodded on the China-Singapore Guangzhou Knowledge City Development Plan 2020-2035 which supports the introduction of talents for the creation of a knowledge-based economy in Guangzhou. The provincial government of Guangdong shall make good land use policies supporting Guangzhou's knowledge development. Other ministries shall also provide necessary supports on project development, policies and institutional mechanism. A supply-side structural reform, coupled with Guangzhou’s opening to international talents and Singaporean knowledge, is expected to provide opportunities for the Greater Bay Area, and Belt and Road countries.