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News from China
China's power consumption surges fastest over past five years in first two months
9th April 2018
China’s power consumption rose the fastest over the past five years during January and February as industrial growth accelerated, the National Development and Reform Commission said on Sunday.
In the first two months, 1.06 trillion kilowatt-hours of power were consumed, up 13.3 percent from a year ago to hit the highest rate over the past five years, China's top economic planner said.
While electricity consumption gained across several sectors, “the industrial sector is the key to drive power use” as it  contributed 55.6 percent to the growth by rising 11.2 percent from a year ago.
The consumption growth occurred after China’s industrial output expanded 7.2 percent year on year in the two months, accelerating from the 6.2 percent rise in December 2017 and quicker than the 6.3 percent gain during the same period last year, the NDRC added.    
Power consumption by advanced manufacturing, including information and communications technologies, “grew rapidly in the past year,” with electronics producers seeing a 18.5 percent growth year on year, while power use by software and communications firms surged 19.4 percent from a year ago, the NDRC said.
By contrast, power use by high energy-consumption steel, building materials, nonferrous metal and chemicals producers grew slowly from last year, down 3.4 percentage points.
Over the first quarter China generated 10 percent more electricity from a year ago to 1.57 trillion kilowatt-hours, according to the NDRC.
Power generation is forecast to grow rapidly in April as power supply has surged 10.04 percent year on year during the first six days of this month, the NDRC said.
Source: Shanghai Daily, April 9, 2018
China to fight US protectionism "at any cost"
6th April 2018

 China will fight "at any cost" and take "comprehensive countermeasures" if the United States continues its unilateral, protectionist practices, a spokesperson with the Ministry of Commerce said on Friday.

The remarks came after the US President Donald Trump on Thursday asked the US Trade Representative to consider US$100 billion in additional tariffs on products imported from China.
"On Sino-US trade, China has made its position very clear. We don't want a trade war, but we are not afraid of such a war," the spokesperson said.
Source: Shanghai Daily, April 6, 2018
Boeing voices concern about US-China trade war impact on aerospace industry
5th April 2018

 US top aircraft manufacturer Boeing Company Wednesday expressed deep concern about the ongoing trade dispute between the US and China, which is likely to escalate into a major trade war that will negatively impact the aerospace industry.

The tariff battle between the US and China "could do harm to the global aerospace industry," Boeing said in a short statement released on Wednesday.
"We will continue in our own efforts to proactively engage both governments and build on the recent assurances by US and Chinese leaders that productive talks are ongoing," it said.
In a tit-for-tat response to US President Donald Trump administration's tariff hike on a list of about 1,300 Chinese exports worth about US$50 billion annually, China said it plans to impose a 25 percent tariff on US$50 billion worth of US exports. The 106 affected American products will also include soybeans, chemicals and aircraft.
The Chinese tariffs threatened to be imposed on aircraft in a weight range would include some variants of Boeing's popular 737 jets, which are the fastest-selling airplanes in Boeing history.
Single-aisle planes, dominated by the 737 and Airbus' A320 family, are likely to account for three quarters of the global market over the next two decades, according to Boeing estimates.
With a worrying eye on the imminent prospect of a trade war, Boeing said in the statement that "a strong and vibrant aerospace industry is important to the economic prosperity and national security of both countries."
It said the company "is confident that dialogue continues" between the governments of the US and China, the two largest economies in the world
Source: Xinhua., April 5, 2018
China firmly opposes US tariff proposals, counter measures underway
4th April 2018

 China strongly condemns and firmly opposes the US tariff proposals and is ready to take countermeasures on US products, the Ministry of Commerce said on Wednesday.

A MOC spokesperson made the statement after the US administration announced a proposed list of products subject to additional tariffs, which covers Chinese exports worth US$50 billion with a suggested tariff rate of 25 percent.
"Disregarding strong representations by China, the United States announced the tariff proposals that are completely unfounded, a typical unilateralist and protectionist practice that China strongly condemns and firmly opposes," according to the statement.
The US side published the list in disregard of the mutually beneficial and win-win nature of the China-US commercial cooperation in the past 40 years, the appeal of the Chinese and American business communities and the interests of consumers, it said.
The move went against the interests of China, the United States and the world economy, seriously violating the basic principles and spirit of the World Trade Organization.
China plans to immediately bring relevant US practice to the dispute settlement body of the WTO, and is ready to take countermeasures on US products with equal force and scale that will be published in the coming days.
"We have the confidence and ability to respond to any US trade protectionist measures," the spokesperson said.
Chinese Foreign Ministry spokesman Lu Kang also made a response on Wednesday, saying the US tariff proposals are "typical unilateralist and protectionist action."
China strongly condemns and firmly opposes such action, Lu said.
Despite strong warnings from business groups and trade experts, US President Donald Trump signed a memorandum on March 22 that could impose tariffs on Chinese imports and restrictions on Chinese investment in the United States.
The memorandum is based on a Section 301 investigation, launched by the Trump administration in August 2017, into alleged Chinese intellectual property and technology transfer practices.
The move came after the US administration took an increasingly hawkish turn on China, as it blamed its trade deficit with major trading partners for its domestic economic woes and job losses.
Source: Shanghai Daily, April 4, 2018

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