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在线翻译:
szdaily -> Business/Markets -> 
At a Glance
    2020-09-25  08:53    Shenzhen Daily

Speculation, hoarding blamed for corn price surge

FUND speculation and irrational hoarding are to blame for a spike in China’s corn prices, agriculture minister Han Changfu said Wednesday.

A recovery in hog breeding capacity and an expansion of the corn processing industry have also contributed to prices, which this week climbed to the highest in five years before paring gains, said Han. Prices should not climb further, owing to ample commercial stocks and the upcoming harvest, Han said. China may still see a bumper harvest despite crops being flattened by rains that were triggered by typhoons in the northeast, he said.

Fresh quota under QDII program granted

CHINA’S foreign exchange regulator granted fresh quotas under its outbound QDII program for the first time since April 2019, official data showed.

The US$3.36 billion worth of quotas was granted to 18 institutions under the Qualified Domestic Institutional Investor (QDII) program, which channels domestic money into offshore financial markets, data from the foreign exchange regulator showed late Wednesday. The move by the State Administration of Foreign Exchange comes as the yuan has strengthened against the U.S. dollar over the past weeks amid accelerating foreign money inflows.

August pork imports double from last year

CHINA’S imports of pork in August doubled from a year ago to 350,000 tons, customs data showed Wednesday, as it built its meat stocks to fill a huge shortfall at home.

The imports, however, slowed from the prior month’s record of 430,000 tons, as coronavirus outbreaks in some plants in major exporting countries reduced the number of plants allowed to ship to China. Chinese importers have been bringing in huge volumes of meat this year after the African swine fever disease killed millions of pigs in the last two years in the country.

WeWork’s China unit gets US$200m investment

OFFICE-SHARING startup WeWork’s China unit has received an additional US$200 million in funding from existing investors and has appointed shareholder Trustbridge Partners’ executive Michael Jiang as its acting chief executive officer.

Private equity firm Trustbridge and Singapore state investor Temasek Holdings had held talks with the Chinese unit of the New York-based co-working startup over increasing their stake in the company to take majority ownership.

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