China Factory Activity Rises, but Retail Sales Disappoint
China’s factory production rose 3.8% in November from a year earlier, beating expectations for a 3.6% rise and accelerating from a 3.5% increase in October. Retail sales, however, rose 3.9% in November from a year earlier, below the 4.6% growth expected and October’s 4.9% rise.
China to Levy Higher Tariffs on Pork Imports in 2022
China will raise import tariffs on most pork products next year, the finance ministry said amid the sharp increase in domestic production. Tariffs for most favored nations, including the U.S., will return to 12% on Jan. 1, from 8% currently, according to a ministry statement. China lowered its tariffs on frozen pork in 2020 from 12% to 8% as the country faced soaring domestic meat prices..
China Clears Some Beef Imports from Brazil
China’s customs administration said it will allow imports of some beef products from Brazil to resume, lifting a ban imposed early in September due to two atypical cases of bovine spongiform encephalopathy in Brazil. Beijing has resumed imports of Brazilian boneless beef products from cattle less than 30 months old.
