Chinese buyers are buying cotton in Australia, because they expect that with other sanctioned products resumed transactions, China's informal ban on Australian cotton may have been lifted.
According to Reuters, Australian cotton seller CNCGC businessman Zheng Dum revealed that China's largest state -owned cotton buyer and the Australian subsidiary of the Chinese cotton group is transporting Australian cotton to a bonded warehouse in QingdaoThese cotton may be shipped to another place.
He said that if the non -official ban was lifted, these cotton could be sold to the domestic domestic market.Otherwise, companies in the tax -free zone can use the product for re -export.
China and Australia officials have not yet announced that the Sino -Australian cotton trade has been officially thawed.Reuters describes this as a "bet".
Zheng Dum said, "This is not exactly a gambling, because it can still be sold in China's duty -free zone. We expect that China -Australia relations will improve and the ban will be canceled."
China used to be the largest export market for Australian cotton, but China has implemented a series of official and unofficial trade restrictions since 2020. At the same time, it has also cracked down on Australian coal and wood. The total value of the two countries is 900 million.The trade of the Australian dollar (about 829 million yuan) has almost frozen since the end of 2020.
According to the Chinese customs data, China imported only about 20,000 tons of Australian cotton in 2022, while China imported a total of 400,000 tons of Australian cotton in 2019.
After Australian Prime Minister Albanis took office in May last year, he was committed to alleviating the increasingly tense relationship between China and Australia. He hoped that the relationship between the two countries would be stopped after the relationship between the two countries would be stopped.
