The Chinese Communist Party hit the soybean mark, the king of the land and soybean was hit by bankruptcy | China | Commercial war between the United States and China | King of Soy

[Reporter Xu Jian / Rapport complet] Originally, the CCP wanted to use soybeans as a weapon to attack American farmers, forcing US President Trump to make concessions in Sino-US trade frictions. The huge industry of soybean crushing pays a high price for the trade war. Shao Zhongyi, formerly the richest man in Shandong and known as "King of Soybeans", filed a lawsuit with the local court.

After the United States imposed import duties on Chinese products of $ 34 billion in July, the counterparty produced a counterpart, including a 25% duty on US soybeans. China is one of the countries that imports the most soy from the United States, so soy is considered by the CCP as a major weapon to attack Trump's ticket warehouse.

Mainland China has the largest soybean crushing industry in the world. The soy processing products are edible oils and soybean meal for animal feed. However, due to lower pork prices, the demand for feed has decreased and the crushing plant's operating difficulty, badociated with the Sino-US trade war, has caused a rise soybean prices.

Last year, China is in Shandong, south of Guangxi, the country's crushing plant is in trouble.Today, at least 20 soybean crushers have reduced their production or stopped production, reducing production to many years.

In mid-July of this year, a ruling by the Lixian County Court of Rizhao City, Shandong Province, revealed that Shandong Chenxi Group had filed a reorganization application for bankruptcy. A few years ago, this company was immensely beautiful: in 2012, it imported a total of 5.51 million tonnes of soybeans, which represented about one-tenth of the country's total soybean imports. Shao Zhongyi, president and founder of the company, was once the richest man in Shandong on the wealthy list.

Why did such a large private enterprise collapse quickly? According to Nihon Keizai Shimbun's badysis, the weak soybean meal demand has led to a deterioration of performance, the tightening of the CPC's monetary policy has tipped the company's capital into turmoil, the war Sino-US trade and the cost of soy imports. Let the company fall last blow.

Because the CCP blocked American soybeans, it allowed US companies to enjoy a large amount of cheap soybeans, which unexpectedly helped the US industry to trituration to flourish. The soybean crushers in the Midwestern agricultural zone are doing well, with profits reaching record levels.

Reuters reported that more hogs and poultry farmers in Asia and Europe could buy soybean meal in the United States because of drought in Argentina, a soybean exporting country . The crushers of mainland China have to buy more expensive American soybeans, and the Chinese pig industry is still weak, so the future of the crushing plant seems very dark. ◇