Officials, including airport authorities in several major cities, are warning travellers to brace for significant delays amid the severe winter weather.
Officials, including airport authorities in several major cities, are warning travellers to brace for significant delays amid the severe winter weather.
China shipped around 5,100 tons of silver overseas last year, according to customs data , the highest volume of exports in at least 16 years and a level that suggests market fears of tightening controls may be overblown for now. China has had a licensing regime in place for silver since 2019. However, a document issued in October by the Ministry of Commerce to extend that policy into this year and...
China shipped around 5,100 tons of silver overseas last year, according to customs data , the highest volume of exports in at least 16 years and a level that suggests market fears of tightening controls may be overblown for now. China has had a licensing regime in place for silver since 2019. However, a document issued in October by the Ministry of Commerce to extend that policy into this year and 2027 rattled investors, with some seeing it as a sign of new or increased restrictions. Versions of that interpretation, during a period of market tightness, have helped fuel a rally that has lifted the white metal alongside gold — pushing it to a record above $95 an ounce. Major exporters in China say there has not been a significant change in shipments since the document was issued. They asked not to be named because they are not authorized to speak to the media. “Most silver exports occur under the existing processing trade arrangements,” said Zijie Wu , an analyst at Jinrui Futures Co. The majority of the shipments are handled through re-export structures that exempt imports from value-added tax, Wu said, adding that any attempt to forcefully curb shipments would require revoking the tax relief on a large scale. Read More: Silver Retail Buying Keeps Supplies Tight as Rally Gathers Pace China shifted to license-only management from its quota-based system seven years ago. Since then, silver exports have risen in all but one year, largely reflecting the expansion of non-ferrous refining capacity, where the metal is produced as a by-product. Under China’s export policy, domestic refiners must obtain export licenses that carry no explicit volume limits and are valid for two years. The requirements have remained largely unchanged since the system was introduced, including minimum production thresholds of at least 80 tons of silver a year or 40 tons for companies based in western regions. Widespread Frenzy Online rumors tied to the misinterpreted export policy, among other mi...