China thirsty for US crude oil right after record refinery action

China refineries processed a history sum of crude oil previous thirty day period, and now they are hunting to the U.S. to find crude.

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China is searching to book oil tankers for August and September to ship at least 20 million barrels of U.S. crude, according to Reuters. The shift comes as there is growing strain on the Chinese to fulfill their commitments to

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China Reinstates Import Tax Reduction and Exemption for 20 Commodities

From August 5, 2020, China has reinstated its tax reduction and exemption policy for 20 commodities, meaning importers can now enjoy tariff exemptions and import-tax related deductions where applicable. This is according to the Announcement about Stopping Tax Reduction & Exemption for 20 Commodities, jointly released by the Ministry of Finance, the General Administration of Customs, and State Administration of Taxation earlier this month.

In short, the announcement will mean that importers of the stipulated commodities will benefit from preferential tax policies that otherwise apply to goods, trade methods, and enterprises of their type.

Here we explain some

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