Fuel prices cut again

    THE government has cut the retail prices of gasoline and diesel from yesterday, tracking a continuing slide in global crude prices.

    The National Development and Reform Commission, the nation’s top economic planner, said Tuesday that retail prices of gasoline would fall by 210 yuan (US$32.8) per ton, or 0.16 yuan per liter, while that of diesel would drop by 205 yuan per ton, or 0.18 yuan per liter. This is the fifth cut since June and the eighth of the year.

    Anti-dumping measures

    THE Chinese Ministry of Commerce will impose anti-dumping measures on optical fiber preforms after ruling that Japanese and U.S. companies are engaged in dumping.

    The ministry told domestic importers of fiber optics from the two countries to pay anti-dumping tariffs ranging from 8 percent to 41.7 percent to customs. Optical fiber preform is a piece of glass used to make optical fiber.

    Belt and Road deals

    CHINESE companies signed 1,786 project contracts throughout countries along the Belt and Road in the first seven months of this year, equating almost half the value of total overseas contracts, official data revealed.

    Contracts for the projects totaled US$49.44 billion, up 39.6 percent year on year, accounting for 44.9 percent of the total during the period, Shen Danyang, the Ministry of Commerce spokesperson, said at a press conference yesterday. The Belt and Road refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, proposed by China in 2013 with the goal of boosting trade between Asia and Europe.

    Yum China new leader

    YUM Brands Inc. on Tuesday announced new leadership for its China business.

    Yum said company veteran Micky Pant, 60, would replace retiring Sam Su, 63, as chief executive of the China division. Pant, currently CEO of Yum’s KFC Division, became CEO of Yum China yesterday.