China’s crude oil imports from Russia reached a record high in 2024, rising 1% from 2023, while shipments from Saudi Arabia fell 9%, according to data released Monday. Refiners prioritized reduced Russian supplies to cushion weak margins. Data from the General Administration of Customs showed that China imported 108.5 million metric tons of crude from … Read more
Pakistan and China signed MoUs worth around US$250 million to enhance cooperation in the medical equipment and surgical instruments sector at a business matchmaking conference in Beijing. Silk Road Assistance Industrial Internet platform, which specializes in cross-border business advisory services, has concluded agreements with Pakistani dental and surgical instrument manufacturer Sawwat and Chinese pharmaceutical company … Read more
Preliminary findings from China’s Ministry of Commerce allege that PVH Corp, the parent company of Calvin Klein and Tommy Hilfiger, has engaged in inappropriate behavior related to the Xinjiang region. The ministry did not provide further details in its statement issued Thursday. The ministry announced plans to summon PVH for discussions in the near future. … Read more
The United States remained the top destination for exports of Pakistani products during the first five months of the current fiscal year, followed by China and the United Kingdom. Total exports to the United States during this period recorded $2,512.809 million compared to $2,299.165 million last year, showing an increase of 9.29 percent, according to … Read more
New Delhi/Singapore: Chinese and Indian refiners will import more oil from the Middle East, Africa and the Americas, boosting prices and shipping costs, as new US sanctions on Russian producers and ships curb supplies to Moscow’s top customers, traders and analysts said. On Friday, the US Treasury Department imposed sanctions on the two Russian oil … Read more
Pakistan has embarked on a major joint venture with China’s Baotou Beifang Chuanghe Co., Ltd. to manufacture freight wagons locally, a move expected to transform the country’s rail freight capacity and reduce import dependence. In Lahore, 115 flatbeds are currently being assembled in complete form (CKD), with plans to be completed by April 2025. This … Read more
According to the China Passenger Car Association (CPCA), China’s automobile exports are expected to slow in 2025 after maintaining its position as the world’s largest automobile exporter for the second consecutive year in 2024. Export growth is expected to decline to 10%, with electric vehicle shipments expected to stagnate, CPCA Secretary-General Cui Dongshu said on … Read more
China’s media industry is undergoing major changes, with a focus on artificial intelligence and digital transformation. By June 2024, the country had nearly 1.1 billion Internet users, representing a penetration rate of 78%, according to the 54th China Statistical Report on Internet Development. A report by the All China Journalists Association (ACJA) indicates that China … Read more
Tesla reported a record year in China with sales exceeding 657,000 vehicles in 2024, representing an 8.8% increase compared to the previous year. Despite this strong performance in the world’s largest auto market, global Tesla deliveries fell for the first time, falling 1.1% year-on-year to 1.79 million vehicles. China accounted for 36.7% of Tesla’s global … Read more
The Pakistan Business Council (PBC) has highlighted five critical challenges that the government must address to maintain the economic stability achieved in 2024. In a statement shared on social media platform X, the People’s Bank of China spoke about the country’s economic trajectory and stressed the need for reforms and prudent fiscal policies. The Council … Read more