Mainland air carriers suffered their worst cargo volume drop of the year in November as consumers in the US and Europe cut back on their spending, the South China Morning Post reported. Mainland Chinese carriers saw 11.3 per cent less cargo in November compared with a year earlier, following a 3.1 per cent drop in October. Shipments bound for Hong Kong and Macau decreased the most with volume dropping 22.4 per cent. Hong Kong, as a key re-export hub for mainland goods before they are shipped … [Read more...] about China air cargo volume tumbles 11.3%
China
FedEx to cancel Okay Air contract
FedEx Express, the world's largest express delivery company, is to end its contract with troubled Okay Airways, opting instead for Yangtze River Express, a cargo airline controlled by HNA Group, to maintain its domestic express air network. The move is yet another setback for the Tianjin-based airline, which is desperately seeking to restart its passenger service before the Lunar New Year after a lack of cash and disputes between its investors forced its service suspension. The suspension of … [Read more...] about FedEx to cancel Okay Air contract
China : China's industrial output hits 6-year low
China’s industrial growth in September hit a six-year low at 11.4 per cent from a year ago, with economists anticipating further declines, the South China Morning Post reported. The figure, which was below the 12.8 per cent recorded in August, was a result of a manufacturing ban for factories near Beijing in the runup to the Olympic Games, as well as slackening global demand due to the US financial crisis. While industrial output may recover somewhat for the rest of the year, now that … [Read more...] about China : China's industrial output hits 6-year low
China : China’s industrial output hits 6-year low
China’s industrial growth in September hit a six-year low at 11.4 per cent from a year ago, with economists anticipating further declines, the South China Morning Post reported. The figure, which was below the 12.8 per cent recorded in August, was a result of a manufacturing ban for factories near Beijing in the runup to the Olympic Games, as well as slackening global demand due to the US financial crisis. While industrial output may recover somewhat for the rest of the year, now that … [Read more...] about China : China’s industrial output hits 6-year low
China: China's trade surplus grows as imports slow
China’s trade surplus hit a monthly all-time high of US$28.7 billion in August – but this was caused by a sharp slowdown in imports rather than any signifi cant movement in export numbers, AFP reported. The previous record for the trade surplus was US$27.1 billion, set in October 2007. Total imports came in at US$106.2 billion in August, up just 23.1 per cent year-on-year. Import growth was 33.7 per cent in the previous month. Exports rose 21.1 per cent to US$134.9 billion, compared … [Read more...] about China: China's trade surplus grows as imports slow
China: China’s trade surplus grows as imports slow
China’s trade surplus hit a monthly all-time high of US$28.7 billion in August – but this was caused by a sharp slowdown in imports rather than any signifi cant movement in export numbers, AFP reported. The previous record for the trade surplus was US$27.1 billion, set in October 2007. Total imports came in at US$106.2 billion in August, up just 23.1 per cent year-on-year. Import growth was 33.7 per cent in the previous month. Exports rose 21.1 per cent to US$134.9 billion, compared … [Read more...] about China: China’s trade surplus grows as imports slow