Trade alert

  • Silicon-calcium alloy products: EU makes final anti-dumping ruling. The European Commission recently issued an announcement to make a final affirmative anti-dumping ruling on silicon-calcium alloy products originating in China, and decided to impose anti-dumping duties of 31.5% to 50.7% on the products involved.
  • South Korea’s container freight rates rose sharply in February from a year earlier. In February, the average shipping cost of a 40-foot container from South Korea to the EU was 14.02 million won (about 11,300 U.S. dollars), a year-on-year increase of 261.5%. The data also showed that freight rates from South Korea to the United States, Japan, and China all rose sharply.

Trade

  • Ecuador: 2 aquatic product companies suspend export to China. On March 25, the General Administration of Customs of China said that from now on, it will continue to suspend the acceptance of product import declarations from two aquatic product enterprises in Ecuador for 4 weeks. The enterprise registration numbers are 8503 and 6792 respectively.
  • Thailand: Foreign trade exports continued to grow in February. Thailand’s Ministry of Commerce recently released data that in February this year, Thailand’s foreign trade export volume was 23.48 billion US dollars, a year-on-year increase of 16.2%, the 12th consecutive month of export growth.

Industry

  • Fortune: After nearly a year of development, the Metaverse has been divided into two main genres, the closed genre and the open genre. Among them, the closed genre is represented by companies such as Meta and Roblox, which are dominated by companies in the virtual world of their respective metaverses, and the product logic is relatively closed; the open genre is represented by companies such as Sandbox and Decentraland, which have created virtual worlds, Provides virtual community-based products for NFTs and cryptocurrencies, owned and controlled by users.

Company

  • The price of SpaceX’s star chain service has increased, and the monthly terminal fee has been increased. The price of the device terminal has risen from $499 to $599 per set, and the monthly subscription fee has risen from $99 to $11 to $110.
  • Luckin Coffee doubled its annual total net income. Luckin Coffee announced that the total net income in 2021 will be 7.965 billion yuan, an increase of 97.5% from 4.033 billion yuan in 2020; the total net income in the fourth quarter will be 2.432 billion yuan, an increase of 80.7% from 1.346 billion yuan in the same period in 2020.

China

  • Bureau of Statistics: From January to February, industrial enterprises above designated size achieved a total profit of 1,157.56 billion yuan, a year-on-year increase of 5.0%. At the end of February, the assets of industrial enterprises above designated size totaled 142.24 trillion yuan, a year-on-year increase of 10.4%; their liabilities totaled 80.03 trillion yuan, an increase of 10.2%.

Company

  • Huawei: As of the end of 2021, 220 million Huawei devices have been equipped with HarmonyOS, but there are currently no plans to launch HarmonyOS-equipped mobile phones overseas. In the next few years, Huawei will launch a full-stack platform solution based on a 1000-volt high-voltage platform that can quickly charge for 200 kilometers in 7.5 minutes or even 5 minutes.

World

  • UNITED STATES: President Biden will propose a new minimum income tax primarily aimed at billionaires when he unveils his 2023 budget. The plan, which would impose a minimum tax rate of 20 percent on households with assets of more than $100 million, targets more than 700 U.S. billionaires.
  • Russian natural gas accounts for about 55% of Germany’s total natural gas imports, coal accounts for about 50%, and crude oil imports account for about 35%. Germany is highly dependent on Russia for fossil fuels, so ordinary people are feeling the pressure of rising prices in every way. German car owners have to pay for ever-increasing gasoline prices, with diesel even more expensive than gasoline.
  • Peru: Mining investment is expected to reach $586 million this year. According to a recent report by Peru’s Angop news agency, the Peruvian Ministry of Energy and Mines stated that there will be a total of 63 mining exploration projects in 2022, with a cumulative investment of US$586 million. Among them, the gold mine project is expected to invest 254 million US dollars.
  • Germany: Suspension of plans to close coal-fired power plants. The German federal government cabinet recently issued a document announcing that it will suspend the closure of coal-fired power plants; and plans to use 65% of renewable energy for newly installed heating systems from 2024.
  • UNCTAD lowered its global economic growth forecast to 2.6% from 3.6%.
  • Germany’s March composite PMI fell to 54.6 month-on-month. S&P Global has announced that Germany’s March Composite Purchasing Managers’ Index (PMI) fell to 54.6 from a final reading of 55.6 in the previous month. Among them, the service industry PMI fell to 55.0 from the final value of 55.8 last month; the manufacturing PMI fell to 57.6 from the final value of 58.4 last month, the lowest in three months.
  • Vietnam imported nearly US$5 billion in foreign investment (FDI) in the first two months. According to data released recently by the Foreign Investment Agency of the Ministry of Planning and Investment of Vietnam, Vietnam attracted nearly US$5 billion in foreign investment (FDI) in the first two months, slightly lower than the US$5.64 billion in the same period last year. This includes 183 newly registered projects with an investment of US$631 million.