Red Sea Shipping Attacks Pressure China's Exporters
For Chinese businessman Han Changming, disruptions to Red Sea freight are threatening the survival of his trading company in the eastern province of Fujian.Han, who exports Chinese-made cars to Africa and imports off-road vehicles from Europe, told Reuters the cost of shipping a container to Europe had surged to roughly $7,000 from $3,000 in December, when Yemen's Iran-aligned Houthi movement escalated attacks on shipping."The disruptions have wiped out our already thin profits…
Beijing says U.S. Warship Violated Chinese Laws
China's foreign ministry said on Saturday a U.S. warship that sailed near an artificial island claimed by Beijing and several other nations has violated Chinese law by entering its territorial waters. China claims most of the South China Sea, through which more than $5 trillion of world trade is shipped every year. Vietnam, Malaysia, Brunei, the Philippines and Taiwan have rival claims. "The American warship has violated relevant Chinese laws by entering Chinese territorial waters without prior permission, and the Chinese side has taken relevant measures including monitoring and admonishments," China's foreign ministry said in a statement.
China Nuclear Power Plans $2.6 Bln Share Sale In Industry's First IPO
China National Nuclear Power Co Ltd said it plans to sell shares publicly in Shanghai aiming to raise 16.3 billion yuan ($2.60 billion), the first initial public offering from the industry as China resumes expansion on its nuclear power capacity. The listing, if approved by the securities regulator, could also the biggest mainland listing since Agricultural Bank of China Ltd debuted in July 2010, and comes after China restarted its IPO market this year. Guotai Junan Securities Co Ltd has also applied for an IPO in Shanghai that could raise nearly 22 billion yuan, according to Reuters calculations. The state-owned China National Nuclear plans to sell 3.651 billion shares…
