Trade alert

  • Welding materials: Vietnam made a preliminary anti-dumping ruling. Vietnam’s Ministry of Industry and Trade recently issued a resolution to make preliminary anti-dumping rulings on welding materials originating in China, Thailand and Malaysia, and preliminary rulings to impose provisional anti-dumping duties of 0 to 36.56%.
  • Egypt suspends imports to more than 800 foreign companies. Recently, the Egyptian Ministry of Trade and Industry announced that more than 800 foreign companies’ products are facing a suspension of imports due to violations of the Ministry of Trade and Industry Order No. 43 of 2016 on the registration of foreign factories. The commodities stipulated in Order No. 43 that must be imported from registered companies mainly include dairy products, edible oil, sugar, textiles and garments.
  • SWIFT: In March, in the ranking of global payment currencies based on amount statistics, the RMB remained the fifth most active currency in the world, accounting for 2.2%. The U.S. dollar, euro, pound and Japanese yen ranked the top four with 41.07%, 35.36%, 6.47% and 2.8%, respectively.

Trade

  • India’s foreign trade import and export data both rose sharply year-on-year. Recently, the Ministry of Industry and Commerce of India released the latest data. In the first two weeks of April, India’s total foreign trade volume was 39.56 billion US dollars, and the trade deficit was 12.12 billion US dollars. Among them, the cumulative export was 18.79 billion US dollars, a year-on-year increase of 37.01%; the cumulative import was 25.84 billion US dollars, a year-on-year increase of 12.24%.
  • South Africa has announced that the Port of Durban has fully resumed operations. The backlog of nearly 9,000 containers is expected to be cleared in the next five to six days. He said that fuel supplies in Durban and surrounding areas have also been restored, and there is no risk of fuel shortages at present.

Industry

  • Total global smartphone shipments fell 11% year over year. On the 21st, the global mobile phone market report for the first quarter of 2022 released by data agency Canalys pointed out that global smartphone shipments fell by 11% year-on-year due to the poor economic situation and seasonally sluggish demand. Samsung leads the market with a 24 percent market share, with Apple in second place.
  • Procter & Gamble announced results, with net sales up year-on-year. A few days ago, Procter & Gamble announced its financial results for the third quarter of fiscal 2022 (ended March 31). According to the financial report, quarterly net sales were US$19.381 billion, a year-on-year increase of 7%; net profit attributable to the company was US$3.355 billion, a year-on-year increase of 3%.
  • Rockefeller Foundation: More than two years of the new crown epidemic and the blockade measures of various countries have brought huge losses to the tourism industry. Before the pandemic, tourism accounted for more than 10% of global GDP. The economic damage from travel restrictions brought on by Covid-19 reached $4.7 trillion, reducing global GDP by 3.7% and eliminating 2 million jobs.

Industry China

  • Passenger Association: In March, the pickup truck market sold 55,000 units, a year-on-year decrease of 2% and a month-on-month increase of 60%. In the first quarter, overall pickup sales remained strong, reaching 131,000 units, down 3% year-on-year.
  • Ministry of Industry and Information Technology: In the first quarter, the output of liquor from brewing enterprises above designated size reached 2.024 million kiloliters, a year-on-year increase of 4.7%; the output of beer was 8.160 million kiloliters, a year-on-year decrease of 1.5%; the output of wine was 51,000 kiloliters, a year-on-year decrease of 31.1%.
  • Passenger Association: In March, the pickup truck market sold 55,000 units, a year-on-year decrease of 2% and a month-on-month increase of 60%. In the first quarter, overall pickup sales remained strong, reaching 131,000 units, down 3% year-on-year.
  • Gamma data: China’s IP-adapted mobile game market revenue was 129.77 billion yuan, but the growth rate fell below 5% for the first time. The growth rate of novel IP has exceeded 40% for three consecutive years, and the development potential of PC game IP is still huge. Heavy RPG gameplay is the main direction of IP adaptation of mobile games. More than 80% of the IP belonging to the head product has been in operation for more than 10 years, and the IP has developed into a multi-party appeal in the long run.
  • Artificial joint consumables: From April 20th, the results of the state-organized centralized procurement of artificial joints will be officially launched in Guangxi. The price of the selected artificial joints will drop by 82% on average, which means that the price of mainstream artificial joint consumables will decrease from the “>RMB10000”, down to the “>RMB1000”.

China

  • The Ministry of Industry and Information Technology and the National Development and Reform Commission: issued the “Guiding Opinions on the High-Quality Development of the Industrial Textile Industry”. By 2025, the industrial added value of enterprises above designated size will increase by about 6% annually, and 3-5 enterprises will enter the first echelon of global industrial textiles. Intelligent manufacturing and green manufacturing have obvious effects on improving the quality and efficiency of the industry, and the comprehensive competitiveness of the industry has been further improved.
  • The growth rate of Hainan’s foreign trade in the first quarter ranked first in the country. According to statistics released by Haikou Customs recently, in the first quarter of this year, Hainan’s import and export of goods traded 43.51 billion yuan, a year-on-year increase of 65.4%, ranking first in the country in terms of growth rate.

Company

  • A new banned chemical raw material has been added to Alibaba International Station. Recently, Alibaba International Station issued an announcement that in order to better comply with domestic and foreign regulatory requirements and relevant regulations, 15 chemical raw materials that can be used as “explosive precursors” are further included in the “List of Prohibited Chemicals”, including nitric acid. , hydrogen peroxide, nitromethane, etc.
  • OOCL’s first-quarter revenue surged to $5.2 billion. Recently, OOCL announced that its total revenue for the first quarter ended March 31, 2022 increased by 71.0% compared to the same period last year to US$5.160 billion. A record quarter was achieved while the route network was heavily congested, resulting in a 9.2% drop in total cargo capacity and a 6.5% drop in capacity.
  • It is learned from dozens of auto sales stores such as Great Wall Motors, Xiaopeng Motors, and Weilai that due to the impact of the epidemic, there is a serious structural imbalance in dealers’ inventories. Since April, dealers in Shenzhen have been saturated with orders. Some models will increase their prices in May, and some customers will place orders in advance in order to lock in prices. The dealers in Shanghai and Jilin are facing the dilemma of overstocking and tight cash flow.
  • Spicy Prince, Weilong and many other leading spicy strip snack companies have reported price increases. According to the industry, the price increase of spicy strips is caused by the rising prices of raw materials. In March, the purchase prices of flour, soybean oil and dried peppers increased by 25%-40% year-on-year. In addition, due to the impact of the general environment, logistics, labor and other costs have also risen, and many companies have now sold at a loss. (PS. Spicy strips are a very delicious and rich-tasting spicy soy product, which is very popular with people who like spicy food)
  • Tesla: In the first quarter, revenue was US$18.8 billion, a year-on-year increase of 81%; net profit was US$3.318 billion, a year-on-year increase of 658%. In the first quarter, a total of 305,400 vehicles were produced, a year-on-year increase of 69%; 310,100 vehicles were delivered, a year-on-year increase of 68%; the gross profit margin of automobiles was 32.9%, a year-on-year increase of 6.36 percentage points. Musk said 1.5 million cars could be produced in 2022; some suppliers have asked to increase parts costs by 20% to 30% between 2021 and 2022, with potential future costs rising significantly.
  • Japan’s Mitsubishi Electric has admitted 40 years of fraud at its plant in Ako, Hyogo Prefecture, in experiments on transformers for power plants. In recent years, data fraud of Japanese manufacturing companies has been common.

World

  • Colombia: The amount of investment in China has increased by 21 times in ten years. According to a recent report by Bloomberg, data from the Bank of the Republic of Colombia shows that Colombia’s investment in China will reach US$6.7 million in 2021, a 21-fold increase compared to 2012.
  • Germany: The German Federal Statistical Office recently announced that the increase in fuel prices in March has hit a record high in 50 years. Among them, gasoline prices rose 41.9% year-on-year, diesel prices rose 62.6% year-on-year, and heating oil prices rose 144% year-on-year.
  • Japan: Huge trade deficit in fiscal 2021. Japan’s Ministry of Finance recently announced preliminary statistics. Due to factors such as high energy prices and the significant depreciation of the yen, the import volume has increased significantly, and Japan’s trade deficit in goods in fiscal 2021 will reach 5.37 trillion yen.
  • South Korea: Improve the competitiveness of the data industry. According to a recent report by South Korea’s “Busan Ilbo”, the South Korean “Data Industry Law” has been implemented since April 20, aiming to promote data transactions and improve the competitiveness of the data industry.
  • Myanmar: Mineral exports fell by nearly half. According to a recent report by Myanmar’s “Golden Phoenix News”, the Ministry of Commerce of Myanmar said that due to the severe epidemic situation, the closure of the jade public market, and the suspension of jade mining, Myanmar’s mineral exports in the transitional fiscal year of 2021/22 earned US$284 million in foreign exchange, a year-on-year decrease of 47%. .
  • South Africa: Large-scale power cuts were implemented again. South Africa’s national power company recently announced that after two power plants failed one after another, it decided to raise the nationwide power curtailment level to four, which means a one-time 4,000 megawatt cut in the country’s power supply.
  • Nigeria: The size of the e-commerce market exceeds 10 billion US dollars. The Nigerian Communications Commission (NCC) recently announced that the current size of the country’s e-commerce market is worth about US$13 billion (54 trillion naira), and there are a total of 87 e-commerce platforms operating locally. Meanwhile, the country’s internet penetration via GSM is 74.5%, with the internet driving an increase in online purchases.