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Trade

Export transactions slide at Canton Fair

China's near-term trade outlook remains grim, if results from the just-ended fall session of the famed Canton Fair are any guide.

Transactions and the number of buyers at the country's largest trade event declined amid weak demand from traditional and emerging markets, organizers said.

Export transactions at the 116th China Import and Export Fair, which is seen as a barometer of China's trade trends, slid 6.1 percent from the spring session to 179.2 billion yuan ($29.16 billion), said Liu Jianjun, the fair's spokesman.

It was the first time since 2010 that transactions at a single session totaled less than $30 billion, according to sources at the fair.

Ariculture

More US corn growers sue Swiss company

Three units of Syngenta AG, a Swiss agribusiness, are being sued by United States corn growers claiming the units ruined the market for their crops by selling genetically modified seed that prompted China to bar imports of almost all American corn. The modified varieties constitute 3 percent of US-planted acreage, so there is no way to ensure that corn for export will not contain trace quantities, according to the farmers' complaint filed in federal court in Chicago. Rejection of that corn by China, identified by the growers as the third-biggest American corn importer, caused 2013-14 market prices to crash, leading to lost sales and income in excess of $1 billion, they said.

Technology

Xiaomi cracks list of top 3 smartphone makers

Xiaomi Corp became the world's third-largest smartphone vendor after outselling rivals in its home market of China with its inexpensive devices packed with high-end features.

Xiaomi had a 5.6 percent share of the global market in the third quarter, the first time it cracked the world's top three, according to a statement from Strategy Analytics. South Korea-based Samsung Electronics Co remained the largest, followed by Apple Inc.

Finance

Use of cross-border yuan expected to rise

Chinese and overseas banks polled in a survey say they will continue to increase their use of the yuan in cross-border settlement, finance and investment, and have higher expectations for its international status as a major world currency in the future.

Research carried out by Bank of China Ltd showed that of the 807 foreign companies surveyed, more than 40 percent thought the yuan is likely to become as important a world currency as the US dollar and the euro. The survey questioned 3,162 Chinese and foreign companies.

Property

Chinese face challenges in UK investment

Significant challenges still exist for Chinese investment into the United Kingdom'ts infrastructure sector, said Richard Laudy, head of infrastructure at international law firm Pinsent Masons.

The challenges relate to both Chinese companies' understanding of the UK bidding process and the UK government's long-term funding commitment to infrastructure projects that would guarantee Chinese investors' returns on investment, Laudy said.

A new report by Pinsent Masons and the UK-based Center for Economics and Business Research recently showed that China is set to invest 105 billion pounds ($170 billion) in UK infrastructure by 2025 across sectors including energy, property and transport.

China Daily - Agencies

(China Daily European Weekly 11/07/2014 page18)