Latest news with #tradebalance
Reuters
17-07-2025
- Business
- Reuters
Japan exports drop 0.5% y/y in June
TOKYO, July 17 (Reuters) - Japanese exports dropped 0.5% year-on-year in June, down for a second straight month, data from the Ministry of Finance showed on Thursday. The result compared with a 0.5% increase expected by economists in a Reuters poll. Imports grew 0.2% in June from a year earlier, versus a 1.6% drop expected by economists. As a result, the trade balance stood at a surplus of 153.1 billion yen ($1.03 billion), compared with a forecast for a surplus of 353.9 billion yen. ($1 = 148.0000 yen)
Malay Mail
09-07-2025
- Business
- Malay Mail
China says EU must fix its mindset, not China trade policy, ahead of key summit
BEIJING, July 9 — Beijing said today that the European Union needed to rebalance its 'mentality', not its economic ties with China, ahead of a summit between the two this month. 'It is hoped that the European side realises that what needs to be rebalanced right now is Europe's mentality, not China-EU economic and trade relations,' foreign ministry spokeswoman Mao Ning said. European Commission president Ursula von der Leyen said yesterday that the EU would seek to rebalance economic ties with China, demanding it eases market access for European firms and loosen export controls on rare earths. Addressing the European Parliament in Strasbourg, von der Leyen said Beijing was running the largest trade surplus 'in the history of mankind' exporting vast amounts to the EU while making it harder for European companies to do business in China. The trade deficit between China and the EU was a yawning $357 billion in 2024. The commission leader, who will travel to Beijing with European Council President Antonio Costa, said the pair will seek to loosen export restrictions on rare earths—while Brussels also looks at 'developing alternative supply resources'. Beijing snapped back on Wednesday, saying that in the 'current turbulent situation', the bloc and China should 'properly handle divergences and frictions'. 'We hope that the European Union will truly establish a more objective and rational understanding of China and pursue a more positive and pragmatic China policy,' Mao said. — AFP pic
CNA
09-07-2025
- Business
- CNA
China says EU 'mentality', not trade, needs to be rebalanced
BEIJING: Beijing said on Wednesday (Jul 9) that the European Union needed to rebalance its "mentality", not its economic ties with China, ahead of a summit between the two this month. "It is hoped that the European side realises that what needs to be rebalanced right now is Europe's mentality, not China-EU economic and trade relations," foreign ministry spokeswoman Mao Ning said. European Commission president Ursula von der Leyen said Tuesday the EU would seek to rebalance economic ties with China, demanding it eases market access for European firms and loosen export controls on rare earths. Addressing the European Parliament in Strasbourg, von der Leyen said Beijing was running the largest trade surplus "in the history of mankind", exporting vast amounts to the EU while making it harder for European companies to do business in China. The trade deficit between China and the EU was a yawning US$357 billion in 2024. The commission leader, who will travel to Beijing with European Council President Antonio Costa, said the pair will seek to loosen export restrictions on rare earths – while Brussels also looks at "developing alternative supply resources". Beijing snapped back on Wednesday, saying that in the "current turbulent situation", the bloc and China should "properly handle divergences and frictions". "We hope that the European Union will truly establish a more objective and rational understanding of China and pursue a more positive and pragmatic China policy," Mao said.
Arab News
09-07-2025
- Business
- Arab News
China says EU ‘mentality', not trade, needs to be rebalanced
BEIJING: Beijing said on Wednesday that the European Union needed to rebalance its 'mentality,' not its economic ties with China, ahead of a summit between the two this month.'It is hoped that the European side realizes that what needs to be rebalanced right now is Europe's mentality, not China-EU economic and trade relations,' foreign ministry spokeswoman Mao Ning Commission president Ursula von der Leyen said Tuesday the EU would seek to rebalance economic ties with China, demanding it eases market access for European firms and loosen export controls on rare the European Parliament in Strasbourg, von der Leyen said Beijing was running the largest trade surplus 'in the history of mankind' exporting vast amounts to the EU while making it harder for European companies to do business in trade deficit between China and the EU was a yawning $357 billion in commission leader, who will travel to Beijing with European Council President Antonio Costa, said the pair will seek to loosen export restrictions on rare earths — while Brussels also looks at 'developing alternative supply resources.'Beijing snapped back on Wednesday, saying that in the 'current turbulent situation,' the bloc and China should 'properly handle divergences and frictions.''We hope that the European Union will truly establish a more objective and rational understanding of China and pursue a more positive and pragmatic China policy,' Mao said.
CNA
08-07-2025
- Business
- CNA
EU to seek trade 'rebalancing' with China at Beijing summit
STRASBOURG, France: The EU will seek to rebalance economic ties with China, demanding it eases market access for European firms and loosen export controls on rare earths at a summit this month, the bloc's chief said on Tuesday (Jul 8). European Commission president Ursula von der Leyen said overcapacity concerns and China's support for Russia's war effort in Ukraine will also be on the table at the talks with Chinese leader Xi Jinping. Addressing the European Parliament in Strasbourg, von der Leyen said Beijing was running the largest trade surplus "in the history of mankind" exporting vast amounts to the EU while making it harder for European companies to do business in China. "If our partnership is to move forward, we need a genuine rebalancing, fewer market distortions, less overcapacity exported from China, and fair, reciprocal access for European business," she told lawmakers. Beijing has sought to improve relations with the European Union as a counterweight to superpower rival the United States, but deep frictions remain over their economic relationship. The trade deficit between China and the EU was a yawning US$357 billion in 2024. Brussels is worried that a manufacturing glut propelled by massive state subsidies could add to it, and result in a flood of cheap Chinese goods undercutting European firms. "China cannot rely on exports to solve its domestic economic challenges. Overcapacity must be addressed at its source, it cannot simply be offloaded onto global markets," von der Leyen said. The commission leader, who will travel to Beijing with European Council President Antonio Costa, said the pair will seek to loosen export restrictions on rare earths – while Brussels also looks at "developing alternative supply resources". The curbs have caused concern among businesses worldwide as China accounts for almost two-thirds of rare earth mining production and 92 per cent of global refined output, according to the International Energy Agency. China's close relations with Russia have also been the cause of discord. "China is de facto enabling Russia's war economy, and we cannot accept this," von der Leyen said. "How China continues to interact with Putin's war will be a determining factor for EU China relations going forward." The summit is scheduled to take place later on Jul 24 to Jul 25 to mark the 50th anniversary of the establishment of diplomatic ties between China and the EU.
