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On August 20, He Yadong, spokesperson for the Ministry of Commerce, stated at a regular press conference that China consistently opposes the EUs abuse of unilateral tools such as the Foreign Subsidies Regulation (FSR) to suppress Chinese companies. China hopes the EU will work with China to quickly correct its erroneous practices in the FSR investigation and strengthen communication through intergovernmental dialogue. China will closely monitor the EUs actions and will take necessary measures to resolutely safeguard national security and the legitimate rights and interests of enterprises. At the press conference, a reporter asked: On August 19, China again issued an injunction against the EUs cross-border investigations of relevant Chinese entities using the FSR. What is the Ministry of Commerces comment on this? He Yadong said that China first issued an injunction in May of this year in the case of Tongfang Weishi. Recently, in the JD.com case, the EU has again arbitrarily and unreasonably demanded a wide range of information from relevant Chinese banks that is irrelevant to the investigation. In response, based on a thorough investigation, relevant Chinese government departments, in accordance with the "Regulations of the Peoples Republic of China on Combating Undue Extraterritorial Jurisdiction by Foreign Countries," determined that the relevant cross-border investigation practices taken by the EU against relevant Chinese entities in its FSR investigation of JD.com constituted undue extraterritorial jurisdiction measures, and demanded that no organization or individual implement or assist in the implementation of such measures.Chart: Speculative Sentiment Index on August 20, 2026 (Thursday)On August 20, at a regular press conference, Ministry of Commerce spokesperson He Yadong responded to a question regarding the US tariffs on drones, stating that China has noted the US decision to impose Section 232 tariffs on drones and components. China has consistently maintained that the US Section 232 measures are unilateralism and protectionism implemented under the guise of "national security." In fact, Chinas drone exports to the US are mainly used in civilian applications such as agriculture, equipment inspection, and film and entertainment. He Yadong stated that the US Section 232 measures overgeneralize the concept of national security, impose differentiated tariff rates on trading partners, discriminate against related Chinese products, seriously damage the interests of Chinese enterprises, disrupt the global drone supply chain, and further undermine a fair and competitive market environment. China firmly opposes this. We urge the US to immediately withdraw the relevant Section 232 tariff measures.Futures News, August 20th: Shanghai Futures Exchange (SHFE) precious metals and non-ferrous metals warehouse receipts and changes on August 20th: 1. Copper futures warehouse receipts: 53,079 tons, a decrease of 3,619 tons compared to the previous trading day; 2. Aluminum futures warehouse receipts: 285,231 tons, a decrease of 5,305 tons compared to the previous trading day; 3. Zinc futures warehouse receipts: 115,060 tons, a decrease of 1 ton compared to the previous trading day; 4. Lead futures warehouse receipts: 63,918 tons, a decrease of 1,572 tons compared to the previous trading day; 5. Nickel futures warehouse receipts: 102,197 tons, an increase of 199 tons compared to the previous trading day; 6. Tin futures warehouse receipts totaled 5,424 tons, a decrease of 167 tons from the previous trading day; alumina futures warehouse receipts totaled 243,016 tons, a decrease of 35,961 tons from the previous trading day; alumina futures factory warehouse receipts totaled 9,300 tons, unchanged from the previous trading day; gold futures warehouse receipts totaled 113,664 kg, unchanged from the previous trading day; silver futures warehouse receipts totaled 1,374,017 kg, an increase of 4,973 kg from the previous trading day; and international copper futures warehouse receipts totaled 4,677 tons, a decrease of 1,250 tons from the previous trading day.Futures News, August 20th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes: 1. Pulp futures warehouse receipts: 373,986 tons, an increase of 81 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 2,758 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,520 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 20,420 tons. 6. Petroleum asphalt futures warehouse receipts: 14,230 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 26,500 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 330 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.