Soybean imports decline in August

China’s soybean imports registered a sharp decline of 1.45 million metric tons in August from the previous month, prompting speculation that imports of the beans will gradually decline during the next few months.

According to data from the General Administration of Customs, soybean imports in August were 4.42 million tons, worth $2.73 billion, compared with 5.87 million tons in July.

During the first eight months of the year, the volume of soybean imports increased 17.4 percent yearon-year to 39.34 million tons. The import value increased 15.7 percent from last year to $22.3 billion.

According to a report released by the National Grain and Oils Information Center, China’s soybean imports are expected to decline during the rest of the year because of a tight supply and price surges in the international market caused by the extreme weather conditions in global soybean producers, such as the US.

As the country’s sixth State-level New Area, the Nansha New Area is expected to get national support from a series of preferential policies and innovation reforms on tax policy, land management, financial innovation and industrial development.

The other zones are in Shanghai, Tianjin and Chongqing, as well as Zhejiang and Gansu provinces.

Nansha will have two commissions, which will lead the economic transformation and development of the Pearl River Delta and create a platform for cooperation with Hong Kong and Macao. The Nansha New Area will also explore ways for economic reform.

Nansha has a total area of 803 square kilometers, with a land area of 570 sq km, and water area of 233 sq km. many Chinese sportswear brands to have encountered obstacles when trying to expand to overseas markets.