China halted some trade with Taiwan in retaliation for the visit of US House Speaker Nancy Pelosi to the island. Some fish and fruit imports were suspended due to excessive pesticide residue detected "multiple times" on products since last year, as well as some frozen fish packages that tested positive for coronavirus in June, the General Administration of Customs said. The Ministry of Commerce said it had banned sand exports for construction based on provisions of related law, but gave no further details. Beijing has often targeted Taiwan's agricultural industry for punishment over political issues. China caught Taiwan off guard last year when it suddenly blocked pineapple imports.
The Chinese e-commerce giant Alibaba reported flat revenue growth on Thursday for the first time ever, as the country grappled with an economic slowdown and Covid-19 resurgences kept consumers jittery. Revenue was 205.6 billion yuan (US$30.7 billion) in the April-June quarter, slightly below the same period last year, it said. "Following a relatively slow April and May, we saw signs of recovery across our businesses in June," chief executive Daniel Zhang said. READ MORE >