Trade alert

  • Drill pipe: Canada launched a double anti-counterfeiting investigation. Recently, the Canadian Border Services Agency issued an announcement stating that it has initiated an anti-dumping and countervailing investigation on drill pipe originating in or imported from China to investigate whether there is dumping and/or subsidy on imported goods.

Trade

  • China, Thailand: Signed the AEO Mutual Recognition Action Plan.
  • Indonesia: Konjac dried flakes are allowed to be exported to China. The General Administration of Customs of China recently issued an announcement stating that it will allow the import of Indonesian konjac dried flakes that have been produced since the announcement date and meet the inspection and quarantine requirements.
  • Malaysia: The tax rate on sugar-sweetened beverages will be increased. Recently, Malaysia’s Deputy Health Minister Noor Azmi said that the tax rate on sugar-sweetened beverages will be increased. Previously, the Malaysian government had imposed a tax of 40 cents per liter on packaging sugar-sweetened beverages.
  • Korea Customs Agency: Due to rising international energy prices, South Korea’s energy imports have surged by more than 85% year-on-year this year, increasing the pressure on South Korea to maintain trade balance and control consumer inflation. As of March 20, South Korea’s imports of oil, natural gas and coal reached US$38.49 billion this year, up 85.4 percent year-on-year. Among them, oil imports increased by nearly 70% year-on-year.
  • International logistics costs have dropped significantly recently. At present, the ocean freight per cubic meter of cross-border e-commerce export products has dropped from the highest of 30 yuan last year to about 16 yuan; air freight has dropped from 80 yuan to more than 30 yuan per kilogram. For containers sent from Shenzhen to West America, the shipping cost has dropped from a high of $17,000 in 2021 to $8,500-$9,000.

Industry-China

  • iiMedia Research: From the point of view of C-end users, nearly 70% of users choose pre-made dishes mainly for “fast”, and only 30% of users choose “delicious”. First- and second-tier cities have a high demand for pre-made dishes, with female users accounting for 58.4% and male users accounting for 41.6%; East China has a large number of customers, mainly young and middle-aged. Among the eight major cuisines, Sichuan cuisine is more popular among consumers, accounting for 58.4% of all cuisines. Half of consumers buy pre-made dishes 1-3 times a week, and the price is distributed between 20-30 yuan.
  • CINNO Research: In February, the sales volume of smartphones in the Chinese market was about 23.48 million units, down 20.5% year-on-year and 24.0% month-on-month. Top5 brands are OPPO, Honor, Apple, vivo and Xiaomi.
  • Institutional data shows that the scale of China’s pre-made vegetable market is expected to be 345.9 billion yuan in 2021, and it will reach 515.6 billion yuan in 2023.
  • Qunar.com: Local tours are still the “main tone” of Qingming, with orders for intra-city tours accounting for more than 60%. From the perspective of hotel bookings, the proportion of orders in this city has reached 45%, and the proportion of orders in this province has reached 50%. Judging from the pre-sale of train tickets, as of March 28, the proportion of tourists traveling in the railway province during the Qingming period accounted for 75%, an increase of over 20% year-on-year.
  • According to data from the China Hotel Association, the average labor cost of Chinese formal catering enterprises accounts for 21.35% of their revenue. Farmers say that the cost of feed, water, electricity, farm rent, and labor is increasing every day, and every day of raising is a good day. Only by selling agricultural products into deep-processed products such as prefabricated vegetables can they increase revenue and recover losses.

China

  • Guizhou Provincial Bureau of Statistics: From January to February, Guizhou’s industrial pillar industries above the designated size were significantly driven. Among them, the added value of the wine and beverage industry increased by 59.6% year-on-year. From the perspective of production, the output value of more than 70% of liquor manufacturing enterprises increased year-on-year, and the output of liquor was 52,200 kiloliters, an increase of 5.5% year-on-year; from the perspective of consumption, the production and sales rate of liquor manufacturing was 102.8%, an increase of 8.6 percentage points year-on-year.
  • People’s Daily Online: The planting area of ​​rapeseed in China has been increasing in the past three years. At present, most of China’s rapeseed is in the flowering stage. If there is no extreme weather in the later period, China’s rapeseed production is expected to hit a new record high in 2022, and the output is expected to reach more than 14.5 million tons.

Company

  • Huawei: In 2021, global sales revenue will reach 636.8 billion yuan, a year-on-year decrease of 28.6%; net profit will be 113.7 billion yuan, a year-on-year increase of 75.9%; R&D investment will reach 142.7 billion yuan, a record high; asset load ratio will be 57.8%, a year-on-year decrease of 4.5% pct. The operator business revenue was 281.5 billion yuan, accounting for 50% of the overseas market; the consumer business was 243.4 billion yuan, and the smart wear and smart screen revenue increased by 30%. Meng Wanzhou said that 2021 is the third year of Huawei’s “load-bearing”, and Huawei’s development will be more stable and resilient.
  • BYD: The cloud rail vehicle of Brazil’s Sao Paulo Metro Line 17 officially rolled off the assembly line.
  • XCMG: 260 tons of mining dump trucks are exported to Europe. Recently, 11 XCMG 260-ton mining dump trucks were sent to large European mines in array. This is another breakthrough in China’s large-scale mining equipment after the world’s largest rear-drive rigid mining truck went off the assembly line.
  • Apple cut orders for AirPods earphones, reducing production this year by more than 10 million units (76.8 million units shipped last year).
  • Tsingtao Brewery: In 2021, the revenue will be 30.167 billion yuan, a year-on-year increase of 8.67%; the net profit will be 3.155 billion yuan, a year-on-year increase of 43.34%.
  • Xiaopeng Motors: In 2021, revenue will be 20.988 billion yuan, a year-on-year increase of 259.1%; 98,155 vehicles will be delivered, a year-on-year increase of 263%. In the fourth quarter of 2021, revenue was 8.56 billion yuan, a year-on-year increase of 200.1%; net loss was 1.29 billion yuan; 41,751 vehicles were delivered, a year-on-year increase of 222%.

World

  • European Union: Europe is very dependent on Russia’s natural gas and oil resources, and it is expected to stop importing oil and gas from Russia within two years. At present, the EU is not seeking to completely cut off energy exchanges with Russia, but is committed to diversifying sources, in which the Middle East will play a more important role. At the same time, the development of renewable energy also helps to reduce the consumption of related resources.
  • Spain: Invested 7 billion euros in the development of renewable energy power generation, and plans to increase the proportion of renewable energy power generation in Spain to 67% by 2026.

Epidemic & travel

  • Singapore: Entry restrictions will be eased. Singapore recently announced that from April 1, all travelers and children aged 12 and below who have completed the new crown pneumonia vaccination will not need to be quarantined after entering Singapore.
  • India: Started to resume international commercial passenger flights. From March 27, India began to resume regular international commercial passenger flights. Currently, 60 foreign airlines from 40 countries including Malaysia, Thailand, Turkey and the United States have been approved to operate 1,783 flights to and from India.