Trade, Import &Export

  • Cold/Fresh Garlic: South Africa made a final ruling on anti-dumping sunset review. Recently, the South African International Trade Regulatory Commission (on behalf of the Southern African Customs Union) issued an announcement to make a final ruling on the anti-dumping sunset review case of cold/fresh garlic products imported from China, and decided to maintain the levy.
  • Suez Canal: Will not ban Russian ships from passing through.
  • MSC: The CMD（误报费） will be adjusted to $3,500/container. Recently, MSC Mediterranean Shipping announced that from April 1, 2022, MSC will adjust the “misdeclaration fee” (“CMD”) to USD3500 / container. This rule applies to all shipments from Asian/Southeast Asian countries to all destinations.

Industry China

  • State Tobacco Administration: In 2021, the tobacco industry will achieve a total industrial and commercial tax and profit of 1,358.1 billion yuan, a year-on-year increase of 6.08%; the total fiscal revenue will be 1,244.2 billion yuan, a year-on-year increase of 3.36%, and the total tax, profit and fiscal total will reach a record high.
  • After the Spring Festival, the demand for chef jobs in catering companies has increased sharply. While improving the production speed of catering enterprises, technologies such as central kitchen and pre-cooked dishes not only improve the production speed of catering enterprises, but also replace the work of some chef, resulting in a decrease in the number of chefs employed. From 2012 to 2019, the total annual registrations of Chinese catering-related enterprises increased steadily. As of March 3, more than 260,000 catering companies have been newly registered in 2022.
  • iResearch: In 2021, the size of the e-commerce procurement market for Chinese enterprises is expected to reach 1,046.4 billion yuan, a year-on-year increase of 22.1%. The new generation of young purchasing groups has become the main force in purchasing. In 2021, among corporate buyers, buyers aged 35 and below will account for 77.3%, of which 68.4% of corporate buyers aged 26-35 will become the main group of corporate buyers.
  • CINNO Research: In January, the sales volume of smartphones in the Chinese market was about 30.87 million, a year-on-year increase of 0.4% and a month-on-month increase of 38.6%. OPPO and vivo ranked first and second in domestic smartphone sales, with a month-on-month increase of 42.6% and 55.8%, respectively, and a year-on-year decrease of 21.1% and 13.2%. Honor ranked third, with a year-on-year increase of 242.9% and a month-on-month increase of 54.4%. Apple and Xiaomi ranked fourth and fifth respectively.
  • Science and Technology Daily: At present, a total of 5 vaccines in China have been approved for listing with conditions, namely 3 inactivated vaccines, 1 adenovirus vector vaccine, and Zhifei Bio’s recombinant protein vaccine.
  • Deloitte: The 2022 Global Retail Top 250 list has been released. Deloitte recently released the latest research report “Global Retail Power 2022”. The report shows that based on public data selection, Chinese companies such as JD.com, Alibaba’s New Retail and Direct Selling, Vipshop, Yonghui Supermarket, and Gome have been shortlisted in the top 250 global retailers.

Company

  • Yum China: Recently released the 2021 annual report, announcing the termination of the operation of its Chinese fast food brand “Dongfang Jibai”. As of December 31, 2021, there are 5 Dongfang Jibai stores in China, all of which are planned to be permanently closed in 2022.
  • Microsoft’s Xbox cloud gaming will soon support mouse and keyboard operations, as early as this summer.
  • The three new crown vaccine manufacturers will achieve high performance growth in 2021. Among them, Zhifei Bio is expected to achieve revenue of 30.637 billion yuan, a year-on-year increase of 101.68%; net profit of 10.197 billion yuan, a year-on-year increase of 208.88%. CanSino expects revenue to surge to nearly 4.3 billion yuan, a year-on-year increase of 171 times; net profit is 1.91 billion yuan, turning losses into profits. Kangtai Bio’s net profit exceeded 1 billion yuan, with a pre-increase of 76.68%-106.13%.
  • IKEA announced that it will close all stores in Russia. Today, IKEA issued a document saying that the conflict between Russia and Ukraine has caused supply chain disruptions and trade barriers, so it has decided to temporarily close all its stores in Russia and suspend all procurement plans in Russia and Belarus.

World

  • World Wide Web: After the two credit card brands, MasterCard and Visa, announced that they would stop their business in Russia, a number of Russian banks, including Sberbank, announced that they plan to switch to China UnionPay and start issuing payments using UnionPay. system card. The move is expected to ease the impact of the coronavirus on Russian cardholders. It is reported that in 2020 Visa and Mastercard accounted for 74% of Russian payment transactions.
  • United Nations: Adopt resolution to end plastic pollution. Recently, the 5th United Nations Environment Assembly resumed the “Resolution on Ending Plastic Pollution (Draft)”, which plans to reach an internationally legally binding agreement by 2024, covering the entire life cycle of plastic products.
  • EU: Plans to significantly increase natural gas reserves, aiming to increase the utilization rate of natural gas storage capacity to 80% by September 30, and plans to cancel the transportation costs required to store natural gas.
  • United States: Service sector growth continues to slow. According to data released by the American Institute for Supply Management recently, due to challenges such as supply chain disruptions, production capacity constraints, and logistics obstructions, the US service climate index fell to 56.5 in February from the previous month, and the growth rate of the service industry continued to slow.
  • Brazil: The offshore wind industry has huge potential. CNN recently reported that the Brazilian government is studying the introduction of measures to support and promote the development of offshore wind power. The Brazilian Institute for the Environment and Renewable Natural Resources said it has so far received 36 applications for the development of offshore wind projects.
  • Cambodia: The automotive and electronics industries are priority areas of development and are expected to increase exports by more than US$2 billion in the next five years.
  • Central Bank of Russia: Commissions will be levied on foreign currency purchases by individuals. The Central Bank of Russia has announced that it will impose a 30% commission on foreign currency purchases by individuals in the institutional market. Earlier, the Central Bank of Russia announced that it would suspend securities dealers from accepting orders from foreign investors to sell Russian securities.
  • Turkey’s economy grew strongly by 11%, exceeding 7 trillion. According to the latest data released by the Turkish Statistical Institute, in 2021, Turkey’s gross domestic product (GDP) will increase by 11% year-on-year to 7.2 trillion Turkish lira (about 518 billion US dollars). The country has also become the fastest growing economy among the G20 countries, the Organisation for Economic Co-operation and Development and the European Union.
  • Japan’s manufacturing index fell to a five-month low in February. Jibun Bank/Markit recently announced that the growth rate of Japan’s initial manufacturing purchasing managers’ index (PMI) in February slowed to a five-month low, from 55.4, the previous high in nearly eight years, to 52.9, the highest level since September last year. The lowest, but has expanded for 13 consecutive months.
  • Cuba issues licenses to more than 2,000 private companies. The Ministry of Economy and Planning of Pakistan announced that the government has just issued operating licenses to 92 micro, small and medium enterprises, bringing the total number of micro and small enterprises approved since September 2021 to 2,177 in order to accelerate reforms to modernize various economic sectors and diversification.