BEIJING: A vessel carrying soybeans from the United States, which has been anchored off China’s coast for more than a month since hefty tariffs were imposed, entered the port of Dalian on Saturday, according to Thomson Reuters Eikon shipping data.
The short journey into the northern Chinese port is the first by Peak Pegasus, which has 70,000 tons of US soybeans on board, since the ship arrived off the coast on July 6 just hours after Beijing imposed 25 percent import duties on $34 billion worth of US goods, including soybeans.
The penalties were in response to a similar move by Washington as part of a tit-for-tat trade dispute between the world’s two largest economies.
The ship was moored in the port just after midnight on Sunday morning, according to the latest data.
The move into the dock suggests the cargo may be about to be unloaded, becoming the first US soybean shipment to incur the new penalties as the trade dispute deepens. China’s state grain stockpiler Sinograin is the buyer of the shipment, according to a source familiar with the matter.
Another ship carrying US soybeans, Star Jennifer, has been anchored off Dalian since arriving on July 24.
The final stages of Peak Pegasus’ one-month journey to Dalian captured public attention in China as it became uncertain if it would arrive in time before the duties kicked in.
Last month, Chinese state media deployed the legume in a political cartoon aimed at undermining support for the trade dispute among US farmers, key supporters of US President Donald Trump.
Soybeans, which are used to make cooking oil and animal feed, are the top US agricultural export to China, with the trade worth $12.7 billion in 2017.
Last week, the Trump administration said it would start collecting tariffs on another $16 billion worth of Chinese imports from Aug. 23, as it tries to put pressure on China to negotiate trade concessions. Beijing has said it will retaliate in kind.
US soybean cargo enters Chinese port after weeks at anchor amid trade row
US soybean cargo enters Chinese port after weeks at anchor amid trade row
- Soybeans, which are used to make cooking oil and animal feed, are the top US agricultural export to China
- The final stages of Peak Pegasus’ one-month journey to Dalian captured public attention in China
Saudi stock market opens its doors to foreign investors
RIYADH: Foreigners will be able to invest directly in Saudi Arabia’s stock market from Feb. 1, the Kingdom’s Capital Market Authority has announced.
The CMA’s board has approved a regulatory change which will mean the capital market, across all its segments, will be accessible to investors from around the world for direct participation.
According to a statement, the approved amendments aim to expand and diversify the base of those permitted to invest in the Main Market, thereby supporting investment inflows and enhancing market liquidity.
International investors' ownership in the capital market exceeded SR590 billion ($157.32 billion) by the end of the third quarter of 2025, while international investments in the main market reached approximately SR519 billion during the same period — an annual rise of 4 percent.
“The approved amendments eliminated the concept of the Qualified Foreign Investor in the Main Market, thereby allowing all categories of foreign investors to access the market without the need to meet qualification requirements,” said the CMA, adding: “It also eliminated the regulatory framework governing swap agreements, which were used as an option to enable non-resident foreign investors to obtain economic benefits only from listed securities, and the allowance of direct investment in shares listed on the Main Market.”
In July, the CMA approved measures to simplify the procedures for opening and operating investment accounts for certain categories of investors. These included natural foreign investors residing in one of the Gulf Cooperation Council countries, as well as those who had previously resided in the Kingdom or in any GCC country.
This step represented an interim phase leading up to the decision announced today, with the aim of increasing confidence among participants in the Main Market and supporting the local economy.
Saudi Arabia, which is more than halfway through an economic plan to reduce its dependence on oil, has been trying to attract foreign investors, including by establishing exchange-traded funds with Asian partners in Japan and Hong Kong.
