Trade & Shipment

  • The United States and the European Union recently agreed to abolish punitive tariffs imposed on imports of European steel and aluminum products.
  • Singapore will import 30% of low-carbon energy by 2035, up to 4 gigawatts of low-carbon electricity, which is expected to account for about 30% of Singapore’s total energy supply.
  • The Panama Canal’s freight volume reached a new high in fiscal 2021. The Panama Canal, which connects the Pacific and Atlantic, set a new record in FY 2021, reaching 516.7 million tons, an increase of 8.7% over FY 2020 and an increase of 10% over the 2019 target before the new crown epidemic.
  • ONE: Reported that the profit in the first half of the year increased by 891% year-on-year. Japanese shipping company Ocean Network Express (ONE) recently announced the financial results for the first half of fiscal year 2021 (April 1, 2021 to March 31, 2022). ONE’s profit in the first half of the year increased by 891% year-on-year to a total of US$6.76 billion. And it is expected that the net profit for the 2021 fiscal year will be close to 12 billion U.S. dollars.

Industry

  • Salesforce: In the third quarter of this year, global e-commerce sales increased by 13% year-on-year, compared with an increase of 2% in the previous quarter. Under this performance growth, product prices have risen sharply, by approximately 12%, and overall orders have declined, by approximately 2%.
  • YouTube will hold a week of live shopping events. Video streaming giant YouTube plans to host a week-long live shopping event “YouTube Holiday Stream and Shop” starting from November 15th, and is preparing to conduct a larger-scale test of its live shopping platform.

Vehicles

  • EVs: In October, Xiaopeng Motors delivered 10,138 units, a year-on-year increase of 233%. From January to October, a total of 66,542 units were delivered, a year-on-year increase of 289%; in October, Weilai Automobile delivered 3,667 units, a year-on-year decrease of 27.5%. From January to October, a total of 70062 new cars were delivered, a year-on-year increase of 122.9%; in October, Ideal Car delivered 7,649 ideal ONEs, a year-on-year increase of 107.2%. From January to October, the cumulative delivery volume reached 62,919 vehicles.
  • Hongqi: In October, Hongqi sales exceeded 35,000 units, a year-on-year increase of 52%, setting a new monthly sales record for the brand; from January to October, sales exceeded 236,000 units, a year-on-year increase of 54%.
  • Yonhap News Agency: According to the sales data released by major South Korean car companies, due to the core shortage, the five major vehicle manufacturers of Hyundai Motor, Kia, South Korea GM, Renault Samsung, and Ssangyong Motor sold 577,528 vehicles globally in October, a 21% year-on-year decrease.
  • According to the Indian Petroleum Corporation website, the price per liter of gasoline in Mumbai is 113.8 rupees and diesel is 104.75 rupees. Motor vehicle oil prices have hit a record high.

China

  • Ministry of Industry and Information Technology: In the first three quarters, China’s Internet and related service companies above designated size completed business revenue of 1,163.3 billion yuan, a year-on-year increase of 25.4%, and the two-year average growth rate was 19.4%. In the first three quarters, operating profit was 96.6 billion yuan, a year-on-year increase of 16.8%. The growth rate was 10.6 and 20.7 percentage points lower than the first half and January-August, respectively, but still 3.2 percentage points higher than the same period last year.
  • Tmall: In the first hour of “Double 11” sales this year, the turnover of more than 2,600 brands exceeded that of the whole day last year, including domestic brands such as Hongxing Erke, Wuling Automobile, Xiaopeng Automobile, Winona, and Jiaoxia. Among them, Wuling Hongguang’s 1-minute turnover surpassed last year’s entire day; Apple mobile phones’ 4-minute turnover surpassed last year’s entire day; Xiaopeng Automobile’s 5-minute turnover surpassed last year’s entire day.
  • Ministry of Industry and Information Technology: The number of mobile applications (APP) continues to decline. As of the end of September, the number of apps monitored on the domestic market in China was 2.74 million, a net decrease of 80,000 from the end of August. Among them, the number of apps in the local third-party app store was 1.38 million, and the number of apps in the Apple Store (China) was 1.36 million. In September, 60,000 apps were added to the shelves and 140,000 apps were removed.
  • Bureau of Statistics: China’s October PMI index dropped for seven consecutive months. In October, China’s Manufacturing Purchasing Managers’ Index (PMI) was 49.2%, dropping to a 20-month low for seven consecutive years. The production, new orders, and production and operation expectations index all refreshed their lowest levels since February last year.
  • Ministry of Commerce: As of the end of 2020, China has become the world’s second largest import market for 12 consecutive years and the main export destination of many countries and regions. From January to September 2021, China’s imports reached nearly US$2 trillion, a year-on-year increase of 32.6%, and the scale hit a record high.
  • IFR: There are over 940,000 industrial robots in China. The International Federation of Robotics (IFR) released the new “World Machine 2021 Industrial Robot Report”, which shows that the number of industrial robots currently operating in Chinese factories has reached a record 943,000 units-an increase of 21%. Sales of new robots have grown strongly, with shipments of approximately 168,000 units in 2020.
  • China’s artificial protein synthesis is realized for the first time. The Feed Research Institute of the Chinese Academy of Agricultural Sciences recently announced that China has realized the synthesis of carbon monoxide to protein for the first time in the world, has formed an industrial production capacity of 10,000 tons, and obtained the first new product certificate for feed and feed additives.