Australia asked China to Clarify whether the Instruction to Chinese Companies Not to buy Australian Coal is a Political Countermeasure
The Australian government on Tuesday (13 October) asked China to clarify whether it had instructed Chinese companies to stop buying Australian coal as a political countermeasure, jeopardizing a business involving about $10 billion (HK$78 billion) a year.
Australian Trade Minister, Simon Birmingham, said he had inquired China through diplomatic channels that whether it had instructed Chinese companies to stop buying Australian coal. “I am not hoping us to get lost in the speculation, but we are working with industries to take action and to have discussions with China," Birmingham said.
Many trade publications, including S&P Global Platts, reported that China's state-run energy suppliers and steel mills had received "verbal notice" from the government to stop buying Australian coal. Tensions between China and Australia have continued in recent months as a result of trade disputes and spy scandals. The economy in Australia has fallen into recession for the first time in nearly 30 years, and the ban from China on Australian coal will have a serious impact on its energy-dependent economy. Besides, the conservative government in Australia is also affected as it has vigorously promoted the coal industry to secure political support in key regions of the country.
The discord between China and Austalia has been escalating. Beijing threatened the exports on Australian wine and beef while Australia called for an investigation into the origins of the COVID-19 outbreak. Beijing also warned its citizens not to visit Australia or study aboard, alleging the anti-Asian racial discrimination in Australia during the pandemic.
Source: Apple Daily #Oct13
https://hk.appledaily.com/international/20201013/YICBNZ2LRFHGZEE2OWD4TYYRFM/
#ChinaAustraliaRelation #China #Australia #ChineseInfluenceInAustralia #AustralianEconomy #AustralianCoal #SimonBirmingham #AustralianTradeWithChina #ChineseStateRunCompanies
The Australian government on Tuesday (13 October) asked China to clarify whether it had instructed Chinese companies to stop buying Australian coal as a political countermeasure, jeopardizing a business involving about $10 billion (HK$78 billion) a year.
Australian Trade Minister, Simon Birmingham, said he had inquired China through diplomatic channels that whether it had instructed Chinese companies to stop buying Australian coal. “I am not hoping us to get lost in the speculation, but we are working with industries to take action and to have discussions with China," Birmingham said.
Many trade publications, including S&P Global Platts, reported that China's state-run energy suppliers and steel mills had received "verbal notice" from the government to stop buying Australian coal. Tensions between China and Australia have continued in recent months as a result of trade disputes and spy scandals. The economy in Australia has fallen into recession for the first time in nearly 30 years, and the ban from China on Australian coal will have a serious impact on its energy-dependent economy. Besides, the conservative government in Australia is also affected as it has vigorously promoted the coal industry to secure political support in key regions of the country.
The discord between China and Austalia has been escalating. Beijing threatened the exports on Australian wine and beef while Australia called for an investigation into the origins of the COVID-19 outbreak. Beijing also warned its citizens not to visit Australia or study aboard, alleging the anti-Asian racial discrimination in Australia during the pandemic.
Source: Apple Daily #Oct13
https://hk.appledaily.com/international/20201013/YICBNZ2LRFHGZEE2OWD4TYYRFM/
#ChinaAustraliaRelation #China #Australia #ChineseInfluenceInAustralia #AustralianEconomy #AustralianCoal #SimonBirmingham #AustralianTradeWithChina #ChineseStateRunCompanies
China’s ban on Australian coal backfires spectacularly as electricity shortages worsen
China unofficially banned Aussie coal since October, with steel mills and power companies apparently told to steer clear. It has also emerged that more than 60 ships carrying thermal and coking coal which is almost $700 million worth of Australian goods at are stuck off China’s coast.
Beijing’s brutal bullying tactics have hit Australian businesses hard, but it turns out the communist state is shooting itself in the foot.
In China, power shortages are increasing with millions of citizens resorting to rationing their heating over winter and avoiding using elevators.
In 2019, more than half of China’s thermal coal were imported from Australia for its power stations. Also, Australia supplied 40 per cent of the nation’s imports of coking coal.
Source: New.com.au #Dec22
https://www.news.com.au/finance/business/other-industries/chinas-ban-on-australian-coal-backfires-spectacularly-as-electricity-shortages-worsen/news-story/8e888701f2766097a7658ee86a0495c8
#Australia #China #AustralianCoal #ChinaPowerPlant
China unofficially banned Aussie coal since October, with steel mills and power companies apparently told to steer clear. It has also emerged that more than 60 ships carrying thermal and coking coal which is almost $700 million worth of Australian goods at are stuck off China’s coast.
Beijing’s brutal bullying tactics have hit Australian businesses hard, but it turns out the communist state is shooting itself in the foot.
In China, power shortages are increasing with millions of citizens resorting to rationing their heating over winter and avoiding using elevators.
In 2019, more than half of China’s thermal coal were imported from Australia for its power stations. Also, Australia supplied 40 per cent of the nation’s imports of coking coal.
Source: New.com.au #Dec22
https://www.news.com.au/finance/business/other-industries/chinas-ban-on-australian-coal-backfires-spectacularly-as-electricity-shortages-worsen/news-story/8e888701f2766097a7658ee86a0495c8
#Australia #China #AustralianCoal #ChinaPowerPlant
news
China’s ban on Aussie coal seriously backfires
China’s savage trade war with Australia has brought a string of industries to their knees – but now, it appears the feud has also spectacularly backfired for Beijing.
China formalises cut to Australian coal imports, state media reports
The Chinese state reported that China has formalised import restrictions targeting Australia’s $14bn coal exports and China would prioritise imports from Mongolia, Indonesia and Russia. Also, power companies will share inventory to ensure prices do not exceed 640 yuan ($97.8) per ton.
The National Development and Reform Commission met 10 major power companies on the weekend and granted approval for them to import coal without clearance restrictions, except for Australia.
Due to China’s import restrictions, at least 60 bulk carriers holding hundreds of millions tonnes of Australian coal stranded off the Chinese coast.
Source: The Guardian #Dec14
https://www.theguardian.com/australia-news/2020/dec/14/china-formalises-cut-to-australias-coal-imports-state-media-reports?CMP=Share_iOSApp_Other
#AustraliaChina #Coal #TradeRestriction #AustralianCoal
The Chinese state reported that China has formalised import restrictions targeting Australia’s $14bn coal exports and China would prioritise imports from Mongolia, Indonesia and Russia. Also, power companies will share inventory to ensure prices do not exceed 640 yuan ($97.8) per ton.
The National Development and Reform Commission met 10 major power companies on the weekend and granted approval for them to import coal without clearance restrictions, except for Australia.
Due to China’s import restrictions, at least 60 bulk carriers holding hundreds of millions tonnes of Australian coal stranded off the Chinese coast.
Source: The Guardian #Dec14
https://www.theguardian.com/australia-news/2020/dec/14/china-formalises-cut-to-australias-coal-imports-state-media-reports?CMP=Share_iOSApp_Other
#AustraliaChina #Coal #TradeRestriction #AustralianCoal