In Depth: Why China Is Still Hooked on U.S. Soybeans

It’s almost midnight in Shanghai, but Xu Jianfei, managing director of soybean trading company Huahong Investment Co. Ltd., is still busy working — tracking down suppliers, organizing transport, consulting with clients. Long hours have become the norm for Xu as Chinese traders have been forced to scour the world for new sources to reduce their dependence on U.S. soybeans, which have become one of China’s main weapons in the trade war with America.