Trade,Import & Export

  • Myanmar: Corn allowed to export to China.
  • Russia allows the import of stone fruit crops from China.
  • Steel Grating: Canada imposes anti-dumping and countervailing duties. The Canadian International Trade Tribunal recently announced that it will continue to impose anti-dumping and countervailing duties on steel grating originating in or imported from China.
  • China has set up 132 cross-border e-commerce comprehensive pilot zones.
  • U.S. ports are congested, and the number of ships on the trans-Pacific route has surged. Sea-Intelligence recently predicted that by March and April, the number of ships deployed on trans-Pacific routes will rebound rapidly. The number of ships deployed on routes from Asia to the US east coast will increase by 60% as shipping companies try to circumvent congested western US ports, and east coast ports will also struggle to bear the pressure.
  • Algeria: Signed into force on December 30, 2021, the 2022 Finance Law (LA LOI DE FINANCE POUR 2022) aims to encourage domestic production and curb imports.

Company

  • Lazada will open a pre-sale policy for local sellers.
  • Meta’s market capitalization fell out of the top ten in the world.
  • HHLA’s full-year revenue rose 12.7 %to 1.465 billion euros. Earnings before interest and taxes (EBIT) increased by 84.7% year-on-year to 228 million euros.
  • Alipay: After March 1, Alipay’s personal collection code can continue to be used, and person can continue to use a series of existing services including free cash withdrawals. At the same time, the personal collection code can be upgraded to “personal business collection code”.
  • Porsche China CEO: The chip shortage will still affect the global market. We will try our best to continue the sales in China last year. We hope to find a solution to the chip shortage in the second half of this year.
  • South Korea conditionally approves the merger of Korean Air and Asiana Airlines. Yonhap News Agency reported on February 22 that the Fair Trade Commission, South Korea’s anti-monopoly law enforcement agency, said it had conditionally approved Korean Air’s acquisition of a 63.88% stake in Asiana Airlines, requiring the two airlines to transfer transportation rights to other companies and limit freight increases.
  • Kering Group’s sales reached a new high of 17.645 billion euros. The French luxury goods giant Kering announced its results a few days ago. The group’s sales in fiscal 2021 reached a record high of 17.645 billion euros, a year-on-year increase of 34.7%. Operating profit was 5.017 billion euros, a year-on-year increase of 60%. (Gucci)

China

  • Shandong’s new energy storage construction has accelerated and made breakthroughs. Shandong Provincial Energy Bureau recently issued the “Notice on Launching the Collection of Energy Storage Demonstration Projects in 2022”. The projects cover lithium batteries, compressed air, flow batteries, coal-fired heat storage, hydrogen production and hydrogen storage, and other new energy storage peak shaving. Projects, a total of 6 categories.
  • Yunnan will rely on the China-Myanmar corridor to build a land-sea international intermodal logistics network.

World

  • Argentina’s central bank announced that the benchmark interest rate was raised to 42.5%.
  • India’s price index rose 6.01%, the highest since June.
  • Vietnam’s manufacturing index hit its highest level in nine months. Vietnam’s Purchasing Managers’ Index (PMI) hit 53.7 points in January, up from 52.5 in December and the highest level since April 2021.
  • Cuba plans to introduce 28 foreign-funded projects in the food sector this year.
  • The largest food trade logistics center will be built in the Khalifa Industrial Zone (KIZAD) in the United Arab Emirates, which will provide a platform for food importers and exporters and logistics companies to expand their business.