On February 10 this year, the first freight train was sent from China to Afghanistan via a new direct rail route connecting the two countries through Kazakhstan and Uzbekistan. The train, carrying 55 containers of communication equipment manufactured by the Chinese telecommunications concern ZTE, departed from Chongqing’s Tuanjetsun station to Afghanistan’s Hairaton.
The train will cross the border at the Khorgos checkpoint in the Xinjiang Uygur Autonomous Region and reach its destination in Khairaton via Kazakhstan and Uzbekistan.
The entire journey is expected to take 12-15 days. “By using the direct rail freight transportation scheme, transportation time will be reduced by 3-5 days compared to road transportation, and logistics costs are expected to be reduced by 15-20%. This will strengthen the safety and efficiency of transportation and supply of goods,” said Liu Jianfeng, a ZTE employee.
The opening of the direct freight route will further strengthen trade and economic cooperation and exchanges between Chongqing and Afghanistan, as well as with other Central Asian countries.
The US imposition of an additional 10 percent duty on imported Chinese goods seriously violates WTO rules and not only fails to solve its own problems, but also disrupts normal economic and trade cooperation between the two countries, a spokesman for China’s Ministry of Commerce said in a statement on Sunday.
“China will file a lawsuit at the WTO against the US for its abusive practices and take appropriate countermeasures to resolutely safeguard its rights and interests,” the statement said.
According to it, China hopes the U.S. side will objectively and rationally consider and solve its own fentanyl and other problems, rather than threatening other countries with tariffs at every turn.
The Chinese Foreign Ministry also issued a statement in connection with the imposition of a 10% duty on imports of Chinese goods, calling on the U.S. to correct its erroneous approach and work with the Chinese side to engage in frank dialog, strengthen cooperation and resolve differences on the basis of equality, mutual benefit and mutual respect.
The Foreign Ministry emphasized that China is one of the countries in the world with the most strict and thorough drug control policies, and fentanyl is America’s problem, and China, in the spirit of humanism, has supported the U.S. in dealing with this problem, being the first country among other countries to put fentanyl-like substances in a separate category.
US President Donald Trump has signed a decree imposing duties on goods from Canada, China and Mexico. The rates for products from Canada and Mexico will be up to 25%, and for Chinese goods – 10%.
Trump explained this decision by the need to combat illegal migration and drug smuggling.
Previously, the US, Canada, and Mexico had a free trade agreement, the USMCA, signed by Trump in his first term in office. The new duties could have a negative impact on the economies of Canada and Mexico, which could lose up to 2% of GDP. For the United States, the consequences will be less severe, with a 0.3% decline in GDP projected.
Canada and Mexico have already expressed disappointment with Washington’s decision. Ontario Premier Doug Ford said that Canada would be forced to respond with tough measures. Mexico, which is the largest trading partner of the United States, may also suffer significant losses, as more than 80% of its exports go to the United States.
The new duties will also affect German automotive companies such as Volkswagen, Audi, BMW, and Mercedes-Benz, which use Mexico as a production base for supplies to the US market. Experts fear that Chinese manufacturers, faced with barriers in the US, will increase pressure on European markets, which could lead to price wars.
The United Steelworkers trade union called on the White House to reconsider the decision, emphasizing that the duties harm both Canada and the United States. At the same time, Canada is considering diversifying its trade ties to reduce its dependence on the United States.
Source: https://amp.dw.com/ru/prezident-ssa-vvel-posliny-na-tovary-iz-kanady-kitaa-i-meksiki/a-71484154
China increased its gold reserves by 44.17 tons in 2024 to a record 2279.57 tons, according to the China Gold Association (CGA). The PRC ranks sixth in the world in terms of reserves of this precious metal, Xinhua reports.
Gold consumption in the country last year decreased by 9.6% to 985.31 tons. Total gold production from domestic and imported raw materials increased by 2.85% to 534.106 tons.
In 2024, China’s largest companies mined 71.937 tons of gold at foreign mines, up 19.1% year-on-year.
US President Donald Trump said that he has “always liked” Chinese President Xi Jinping and expressed hope for China’s help in a peaceful resolution of Russia’s war against Ukraine.
“I hope China will help us stop the war, particularly with Russia, Ukraine, and they have a lot of power over this situation. And we will work with them. And I mentioned that during our phone call with President Xi, and I hope we can work together and stop it,” he said during an online chat after a special address at the World Economic Forum in Davos on Thursday.
According to Trump, his administration “looks forward to getting along very well with China.”
The US leader also noted that he “really likes President Xi” Jinping. “I’ve always liked him. We’ve always had a very good relationship,” the US president added.
Chinese authorities are considering selling TikTok’s US business to businessman Elon Musk if the short video service fails to challenge a ban on the use of its application in the US, Bloomberg reports, citing informed sources.
The sources emphasize that the Chinese government wants to keep TikTok under the control of its parent company ByteDance Ltd. The appeal against the ban is being considered by the US Supreme Court, but it is likely that the judges will uphold the ban.
Pending the decision, Chinese officials have begun discussing other options for TikTok’s US business. One option involves the participation in the deal of Musk, who is a close supporter of US President-elect Donald Trump. Musk also has a good reputation in China, where the largest plant of his car company Tesla is located.
According to sources, in one of the possible scenarios, control over TikTok’s US operations could go to Company X (formerly Twitter). The number of TikTok users in the US exceeds 170 million, and the acquisition of the service could help X attract advertisers. In addition, Musk has founded a separate company in the field of artificial intelligence, xAI, and it can find application for the huge amount of data generated by TikTok.
Sources note that the discussions are preliminary and no decisions have been made yet. It is also unclear how aware ByteDance is of the Chinese government’s plans, and whether ByteDance, TikTok, and Musk have had any talks about a possible deal.
Elon Musk, ByteDance, and TikTok did not respond to Bloomberg’s requests for comment, nor did representatives of China’s Cybersecurity Administration and Ministry of Commerce.
TikTok’s U.S. operations could be valued at $40-50 billion, according to Bloomberg Intelligence analysts. This is a significant amount of money even for the richest man in the world, and it is unclear how Musk could pay for such a deal. He acquired Twitter in 2022 for $44 billion and is still paying off the debt taken out to finance the deal.
Bloomberg also notes that TikTok’s business in the United States is a valuable asset that other players are also claiming. In particular, billionaire Frank McCourt and investor Kevin O’Leary have previously announced their intention to buy the business. Other contenders may include Microsoft Corp. and Oracle Corp. which is TikTok’s longtime partner in the technology sector.
