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Stafford Hockey Club • View topic - "ChAFTA has been implemented step by step. Without it
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Postby liyifeng123 » Mon Nov 19, 2018 6:36 am
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SEOUL, July 27 (Xinhua) -- South Korea's No.2 carmaker Kia Motors, affiliated with Hyundai Motor, posted the largest operating profit in three years in the April-June quarter due to demand for newly launched models, the company said on Wednesday.


Operating profit increased 18.5 percent from a year earlier to 770.9 billion won (680 million U.S. dollars) in the second quarter. It marked the largest since the second quarter of 2013. Operating margin was the highest in two years at 6.4 percent.


Revenue advanced 16.1 percent over the year to 14.45 trillion won during the April-June period, and net income gained 10.6 percent to 825.7 billion won.


For the first six months of this year, Kia Motors posted an operating profit of 1.4 trillion won on revenue of 27.1 trillion won. Both figures logged a double-digit growth compared with a year earlier. Net income grew 7.3 percent to 1.77 trillion won in the first half.


The company sold 1.47 million cars globally in the first half, up 2.3 percent from a year earlier. Demand for newly launched models such as K7 sedan was strong, while the depreciating local currency versus the greenback boosted earnings from overseas sales, the company said.


Kia said demand was especially strong in the United States and Europe, offsetting an auto sales decline in emerging economies. Kia's car sales in China reduced 5.8 percent in the first half.


The company predicted the harsh auto market conditions in the second half due to the expected economic slump in emerging economies especially in Brazil and Russia.




BEIJING, March 24 (Xinhua) -- For Zheng He, who spent five years in Australia before returning to his hometown of Hefei in eastern China, juicy Australian beef is one of the things he misses most.


Beef is a regular ingredient in China's hugely popular hotpot. Almost every hotpot shop puts some type of Australian beef on its menu, but diners often doubt whether it comes from genuine Aussie cattle as the restaurants claim.


"Beef served in Australia is fresher, and the method of cutting is also different from here," said Zheng, who worked part-time at restaurants while studying accounting at Edith Cowan University in Perth.


Diners' doubts about whether their beef is from Australia or not should dissipate as China imports more live cattle from Australia. In February, nearly 1,200 Australian cattle arrived at Shidao port in eastern Shandong province, China's first live cattle imports from Australia by sea.


"It is a concrete step by Shandong to implement the China-Australia Free Trade Agreement," said the Shandong Entry-Exit Inspection and Quarantine Bureau, which invited multiple media outlets to observe Shidao port, the first Chinese port to receive live cattle from Australia.


China is Australia's largest trading partner. A free trade agreement between the two countries, known as ChAFTA, took effect in December 2015. The cattle imports show the booming trade between them.


"ChAFTA has been implemented step by step. Without it, bilateral trade would have been challenged more by the s.
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