- EU: Starting from October 12, 2021, China’s exports to the member states of the Eurasian Economic Union will no longer enjoy the GSP tariff preferences. Since the same day, the customs will no longer issue GSP certificates of origin for goods exported to Russia, Belarus, and Kazakhstan.
- Exports to Pakistan can issue certificates of origin under the Free Trade Agreement. By applying for the certificate of origin of the China-Pakistan Free Trade Agreement, products exported to Pakistan can enjoy different degrees of tariff reductions when imported from Pakistan:
- Pakistan has implemented zero tariffs on 45% of the tax items.
- For 30% of the tax items, zero tariffs will be gradually achieved in the next 5 to 13 years.
- A partial tax reduction of 20% will be implemented on 5% of tax items on January 1, 2022.
- Kazakhstan: All footwear products must be affixed with a QR code.
- From November 1, 2021, all footwear products circulating in Kazakhstan must be affixed with the Data Matrix QR code.
- Footwear products in other countries (including the Eurasian Economic Union countries) without digital labels will be banned enter the market. The above regulations involve all footwear market participants from manufacturers, importers to retailers. All market participants must log in to the product label and traceability information system to go through the registration procedures and obtain the QR code automatically generated by the system.
- Importers must affix digital labels before the goods are cleared, either in the country of production or in the customs bonded warehouse located in Kazakhstan. For shoe products in stock that are not affixed with a digital label, it is allowed to continue to be sold within one year (before November 1, 2022).
- Footwear companies can obtain useful information about digital shoe logos on the portal. Website: markirovka.kz
- Uzbekistan: Implement zero tariffs on some imported products. Raw materials and semi-finished products that are exempt from import tariffs include: castor oil, asbestos, sodium hydroxide (caustic soda), dyes, artificial fur, artificial wax, paper and cardboard, cotton fabrics, flax fabrics, batteries, speakers, etc., a total of 82 kinds. The list of relevant products and customs codes have been published on the official website of the Uzbek Legal Database.
- Search URL: https://lex.uz/pdfs/5686220 (Previously, the government issued a cabinet order on October 7, deciding to exempt imported bananas, apples, pineapples, guava and other fruits from tariffs before May 1, 2022 .)
- Starting from November 1st, shipping companies have adjusted GRI from Asia to the United States, which is the 21st time adjustment of ordinary freight rates for East Asia/U.S. routes this year.
GRI (general rate increase附加费), 40ft container
- CMA-CGM: USD2000
- Cosco: USD1000
- Evergreen: USD1000/2000 (40ftreefer container)
- Hapag Lloyd: USD3000
- HMM: USD1000/2000 (inland, small roads and bridges, rail combined transportation, etc.)
- Yangming: USD1000/2000 (inland, small roads and bridges, railway combined transportation, etc.)
- Zim: USD1000
- SEMI: In the third quarter, global semiconductor silicon wafer shipments reached 3.649 billion square inches, an increase of 3.3% from the previous quarter, which continued to hit a record high. As many fabs will be added in the next few years, the demand for semiconductor silicon wafers is expected to remain high.
- German Automobile Industry Federation: The number of newly licensed cars in Germany in October was 178,700, down 35% year-on-year; the number of newly licensed electric cars reached 54,400, an increase of 13% year-on-year. Electric vehicles accounted for 30.4% of the total number of newly-licensed cars in the month, a record high.
- Uber: In the third quarter, revenue was US$4.845 billion, an increase of 72% year-on-year; net loss was US$2.424 billion, an increase of 123% year-on-year.
- Airbnb: In the third quarter, revenue was US$2.237 billion, a year-on-year increase of 67%; net profit was US$834 million, a record high in history, a year-on-year increase of 280%.
- United States: In October, the number of non-agricultural employment increased by 531,000, an estimated increase of 450,000, an increase of 194,000 from the previous value; the unemployment rate was 4.6%, the lowest since March last year, with an expected 4.7% and a previous value of 4.8%.
- Ministry of Commerce: In the first three quarters, China’s total service imports and exports totaled 378.343 billion yuan, a year-on-year increase of 11.6%. Among them, service exports were 1782.09 billion yuan, an increase of 27.3%; imports were 2001.34 billion yuan, an increase of 0.5%, and the growth rate of imports achieved the first positive turn since the epidemic.
- SAFE: In the third quarter, my country’s current account surplus was 518.3 billion yuan, of which the goods trade surplus was 915.2 billion yuan, the service trade deficit was 204.1 billion yuan, the primary income deficit was 216.1 billion yuan, and the secondary income surplus was 23.4 billion yuan.
- Development and Reform Commission: On November 4, the daily coal output reached 11.885 million tons, a new high in recent years, an increase of 165,000 tons from the previous peak. Since November, the national average daily output of coal has reached 11.53 million tons, an increase of over 800,000 tons from the previous month; Shanxi’s average daily output is 3.49 million tons, an increase of 220,000 tons from the previous month; and the average daily output of Inner Mongolia is 3.35 million tons, an increase of 420,000 tons from the previous month. The daily output is expected to exceed 12 million tons in the near future.
- Development and Reform Commission: A new round of refined oil price adjustment window opened at 24:00 on November 5. The price of gasoline and diesel will not be adjusted this time.
- Hangzhou Asian Games e-sports sub-sports settings announced, including League of Legends, Glory of Kings (Asian Games version), Peace Elite (Asian Games version), Hearthstone, Dota 2, Dream Three Kingdoms 2, Street Fighter 5 and FIFA Online 4, etc. 8 project. The Hangzhou Asian Organizing Committee expressed its hope to promote the integration of traditional sports and emerging sports.
- Home furnishing industry: Since the beginning of this year, the prices of upstream raw materials in the home furnishing industry have been rising. Affected by this, many leading home furnishing companies such as Oupai Home Furnishing and Dongpeng Holdings announced price adjustments. According to the industry, the price of copper at the beginning of the year was about 7,000 US dollars/ton, and now it has risen to 10,300 US dollars/ton. The price increase of zinc is even greater, reaching 50%, while sanitary products are mainly hardware, which accounts for 70% of copper. 30% of zinc occupancy. Data show that among the 31 listed companies in the home furnishing industry in A-shares, 20 companies have reported an increase in net profit in the third quarter.
- Coffee: According to the “Shanghai Coffee Consumption Index”, there are 6913 coffee shops in Shanghai, which is the city with the most coffee shops in the world. The number of cafes in Shanghai is twice that of Guangzhou, and the number of cafes in Beijing is only 60% of that in Shanghai. In the first half of this year, my country imported 61.77 million kilograms of coffee beans, a year-on-year increase of 104.3%. Netizens said that various cafes can be found everywhere in Shanghai, and they are used to buying a cup of coffee before going to work every day.
- South Korea: The National Youth Policy Research Institute of South Korea has issued a report showing that among the 18-34-year-old South Korean young people, the proportion of recluses is as high as 4.7%, about 510,000. Some reclusive people live a “no-social life”. They leave their homes just to go to the convenience store around the corner, and 32% of them have lived in seclusion for more than three years.
Covid19 & Travel
- The United States lifted travel restrictions on 33 countries. US President Biden signed an executive order on October 25, local time, lifting strict travel restrictions on China, India, South Africa, Brazil and most of Europe. The new policy will take effect on November 8.
- The new policy requires almost all foreign tourists to be vaccinated against the new crown before going to the United States. The airline will be required to check the passenger’s vaccination status before boarding the plane. The airline must confirm that the passenger’s vaccination certificate is an official certificate, and the date of completing the vaccination must be at least two weeks before boarding. Any vaccine approved by the U.S. health regulatory agency will be accepted.
- Approved vaccines include Moderna, Pfizer/BNT, Johnson & Johnson, AstraZeneca, Indian version of AZ vaccine Covishield, China National Medicines and China Coxing Vaccine.
- Special travel restrictions in the United States were first implemented in early 2020 to curb the spread of the Covid-19 virus. Non-US citizens from 33 countries (the United Kingdom, Brazil, China, India, Iran, Ireland, South Africa, and 26 European Schengen countries) were caught during the epidemic. Prohibited to enter the United States. The lifting of the ban marks the end of strict restrictions on passengers since the beginning of last year.
- Thailand: Visitors from 46 countries and regions are exempt from isolation when entering Thailand.
- The Thai government announced on the evening of the 21st local time that from November 1st, tourists from 46 countries and regions who have completed the new crown vaccination and entered Thailand by air will be exempt from compulsory quarantine.
- The Ministry of Foreign Affairs of Thailand announced the list of these 46 low-risk countries and regions on the same day, including China, Malaysia, Cambodia, Singapore, Japan, South Korea, the United States, the United Kingdom, Spain, France, Germany, Australia, etc.
- Tourists from these low-risk countries and regions recognized by the Thai government must complete vaccination 14 days before boarding, hold a nucleic acid test negative certificate and medical insurance with a coverage of 50,000 US dollars, and also need to take a nucleic acid after entering the country. Test, after confirming that the test result is negative, you can move freely in Thailand without quarantine.
- Guangdong, China: Guangdong tries to resume business visas to Hong Kong. The State Exit-Entry Administration has decided to reinstate mainland residents to apply for business endorsements to Hong Kong on a trial basis in Guangdong Province, and applications can begin on October 11.