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China has reported its exports and imports both fell in September from a year earlier as global demand remained muted HONG KONG -- China’s exports and imports both fell in September from a year earlier, though they contracted at a slower pace than the month before even as global demand remained muted. Customs data released Friday showed export s for September slid 6.2% to $299.13 billion in the fifth straight month of decline. Imports also slid 6.2%, to $221.43 billion. China posted a trade surplus of $77.71 billion, up from $68.36 billion in August. Lu Daliang, spokesperson of the General Administration of Customs, said in a press conference Friday in Beijing that the unstable momentum of the global economy’s recovery from the pandemic was the biggest challenge facing China’s exports. China's economy has declined at a slower pace after leaders enacted a slew of policy support measures in recent months. However, property sector remains a drag on the economy, with sales slumping and...

The US will take steps to prevent American chipmakers from selling semiconductors to China that circumvent government restrictions, a US official said, as part of the Biden administration's upcoming actions to block more AI chip export s. The new rules, details of which Reuters is reporting for the first time, will be added to sweeping US restrictions on shipments of advanced chips and chipmaking equipment to China unveiled last October. The updates are expected this week, other people familiar with the matter said, though such timetables often slip. The new rules will block some AI chips that fall just under current technical parameters while demanding companies report shipments of others, said the official, who provided information on condition of anonymity. A spokesperson for the US Department of Commerce, which oversees export controls, declined to comment. The latest crackdown on tech exports to China coincides with US efforts to thaw difficult re...

Restrictions on food exports are spilling over from rice and wheat to other essentials How do you cook a meal when a staple ingredient is unaffordable? This question is playing out in households around the world as they face shortages of essential foods like rice, cooking oil and onions. That is because countries have imposed restrictions on the food they export to protect their own supplies from the combined effect of the war in Ukraine, El Nino’s threat to food production and increasing damage from climate change. For Caroline Kyalo, a 28-year-old who works in a salon in Kenya's capital of Nairobi, it was a question of trying to figure out how to cook for her two children without onions. Restrictions on the export of the vegetable by neighboring Tanzania has led prices to triple. Kyalo initially tried to use spring onions instead, but those also got too expensive. As did the prices of other necessities, like cooking oil and corn flour. “I just decided to be cooking once a day,” s...