China Posts Record Trade Surplus
Despite inflation, business closures, visa issues and a global economic slowdown, China is posting a record trade surplus of "about USD28.7 bn in August", The Guardian quotes officials from the Customs Administration. In August, exports rose 21.1 per cent, to USD134.87 bn, while imports increased 23.1 per cent, to USD106.18 bn. The European Union remains China's largest trading partner.
Linde & Sinopec Invest EUR100m in JV
Germany's Linde Group and a unit of Sinopec will jointly invest EUR100m
in a joint venture that will produce nitrogen, oxygen and argon in
China. Both parties hold a 50 per cent stake in the new company, which
will be called Fujian Linde-FPCL Gases Co. The joint venture will also
set up a local gas centre and provide gas supply infrastructure to
nearby clients.
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