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China cut import taxes on more goods including machinery from Nov. 1, on top of reductions implemented earlier this year, to reduce costs for consumers and companies. “Import growth also overshot expectations quite a lot. Import growth actually reflects some front-loading in China as well – buying before Chinese tariffs come into effect,” Chi Lo, greater China economist at BNP Paribas, told Reuters. “More importantly, it also reflects some of Beijing’s promise to buy more – as a way to help soothe the trade conflict with the U.S.” watch movement cufflinks uk sale.

ZHUHAI, China (Reuters) – Russia wants to achieve full independence in its ability to develop civil aircraft in order to avoid being “pushed around” by dominant companies and countries in the industry’s supply chain, a senior Russian state executive said watch movement cufflinks uk sale. Viktor Kladov, director for international cooperation and regional policy of Russian state conglomerate Rostec, made the comments on the sidelines of China’s largest airshow. Rostec, whose sprawling business includes weapons manufacturer Kalashnikov as well as Russian Helicopters and United Aircraft Corporation (UAC), is among Russian firms that have been affected by sanctions imposed on the country over the annexation of Crimea from Ukraine and other factors..

These sanctions have driven Moscow to try and rejuvenate domestic industrial production to make the country less dependant on foreign firms watch movement cufflinks uk sale. UAC last year kickstarted full-scale development of a wide-body jet with China that eventually aims to compete with Boeing (BA.N) and Airbus (AIR.PA) planes. Another Rostec subsidiary is also cooperating with Beijing to build an aero engine. “Any big nation cannot afford being dependent on others..We are trying to acquire full independence in our capacities,” Kladov told Reuters, adding he was referring to areas like technology and production capabilities for civil aircraft..

“When you’re dependent on just one source of supply, then you’re not fully independent; you’re reliant. Any monopoly is a wrong thing. When you have a choice, it’s a good thing, then nobody can push you around.”. U.S. and European firms currently dominate the aerospace supply chain from engines to avionics and have been heavily involved in Russia’s civil aircraft programs watch movement cufflinks uk sale. The Irkut MC-21, a medium-range passenger plane that is being built by another Rostec unit, is powered by engines supplied by United Technologies Corp’s (UTX.N) Pratt & Whitney. The company rolled out the plane for the first time in 2016..

JOHANNESBURG (Reuters) – Saudi Arabia has made a $1 billion bid for a broad partnership with South African state-owned defense group Denel that would include acquisition of a minority stake in a joint venture with Germany’s Rheinmetall (RHMG.DE), a source familiar with the offer said. Currently heavily dependent on imports, Saudi Arabia, the world’s third-largest defense spender, is seeking partnerships to develop its own domestic defense industry with the goal of localizing half of its military spending by 2030 watch movement cufflinks uk sale.