China’s pledge to neighbours, exporters dumping cargo mid-voyage: SCMP daily highlights
From Xi Jinping’s pledge to neighbouring nations to exporters ditching shipments mid-voyage, here’s a round-up from today’s China coverage
1. China to strengthen strategic ties with neighbours, Xi Jinping says
Chinese President Xi Jinping has pledged to strengthen strategic bonds with neighbouring nations by “appropriately” managing differences and enhanced supply chain ties.
2. Chinese exporters ditching shipments mid-voyage to avoid crushing Trump tariffs
Amid escalating trade tensions between China and the United States, some Chinese exporters are taking the drastic step of ditching shipments mid-voyage and surrendering containers to shipping companies to avoid crushing tariff costs.
3. China signals determination to defend yuan after offshore level hits record low
Beijing lowered the yuan’s daily reference rate only slightly on Wednesday, despite the offshore yuan hitting a record low overnight, signalling China’s determination to stabilise its currency amid an ever-escalating trade war with the United States.