Chinese state media appears to have confirmed it has blocked Australian coal imports, further cementing perilous trade tensions between the two countries.
Key points:
- Chinese state-owned media outlet The Global Times appears to have confirmed a ban on Australian coal imports
- Australia's Trade Minister Simon Birmingham has called on Chinese authorities to "rule out" the Global Times report
- Australian coal exports to China were worth $13.9 billion last year
Nationalistic state-owned tabloid The Global Times reports that China's top economic planner has approved power plants to import coal without clearance restrictions from several countries "except for Australia".
Australian government sources say such media reports should be treated seriously because they are generally directly sanctioned by the Chinese Government.
China has unofficially banned Australian coal imports since October, leaving dozens of bulk carriers stranded offshore.
The freeze has stoked deep anxiety in the mining industry.
Last month, Chinese authorities blamed "environmental problems" for the delays.
Australian Government officials have dismissed this explanation in private.
And the Global Times report seems to confirm that China's leaders are now willing to publicly confirm — at least indirectly — that the ban is an act of economic punishment, and that it is likely to continue.
The newspaper quotes Wang Yongzhong, director of the Institute of Energy and Economy at the Chinese Academy of Social Sciences, who warns "Australia is gradually losing the Chinese market".
He says China is sourcing coal from Indonesia, Russia and from Mongolia, which "could take a large share from Australian coal, as the relationship between China and Australia has been deteriorating".
The article also says China's coal use will drop over coming decades as it moves to reduce carbon emissions.
If the freeze is maintained, it could have significant economic implications for Australia, which last year exported coal worth almost $14 billion to China.
Australia's Trade Minister Simon Birmingham has called on Chinese authorities to "rule out" the Global Times report.
Senator Birmingham said if the story is accurate it "would appear to be the use of discriminatory practices against Australian coal".
The move against coal is the latest in an escalating series of trade punishments meted out by Beijing.
Relations between Australia and China have been spiralling downwards in the wake of Canberra's call for an independent inquiry into the origins of COVID-19.
Trade feud from coal to crayfish
In recent months, China has taken several measures to stymie Australian imports.
Australia's largest export market has applied prohibitive tariffs on the massive wine market with signs the trade has now effectively ground to a halt.
Chinese tariffs on barley imports have also led to threats from Australia of action through the World Trade Organization. Some observers predict Australia might take that step as early as this week.
In turn, Beijing has accused Australia of dumping grain and wine on the Chinese market and unfairly subsidising farmers.
Tonnes of Australian rock lobster have also been stopped at Chinese ports.
The crayfish would usually sell at a premium on the Chinese market but have instead been sold to local supermarkets.
In some parts of Western Australia, western rock lobsters have been up for sale at the bargain price of just $20.
But the confirmation of the coal ban is likely to fire fresh anger in Canberra, as well as fuelling anxiety about which industries are likely to be targeted next.
https://news.google.com/__i/rss/rd/articles/CBMibWh0dHBzOi8vd3d3LmFiYy5uZXQuYXUvbmV3cy8yMDIwLTEyLTE0L2dsb2JhbC10aW1lcy1yZXBvcnRzLWF1c3RyYWxpYW4tY29hbC1leHBvcnRzLWJsb2NrZWQtYnktY2hpbmEvMTI5ODMzMzbSASdodHRwczovL2FtcC5hYmMubmV0LmF1L2FydGljbGUvMTI5ODMzMzY?oc=5
2020-12-14 12:31:00Z
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