Trade

  • Nylon 6 slices(锦纶6切片): China makes an expiry review ruling on anti-dumping measures. China’s Ministry of Commerce recently issued an announcement stating that it has made an expiry review ruling on anti-dumping measures on imported nylon 6 chips originating in the United States, the European Union, Russia and Taiwan, and will continue to levy anti-dumping duties from April 22, valid for 5 years.
  • The UK has announced the removal of tariffs on Ukrainian imports. On the 26th, the British Department of International Trade announced that all goods imported from Ukraine will be subject to zero tariffs, involving major Ukrainian export products such as barley, honey, canned tomatoes and poultry meat. In addition, the UK will ban the export of some products and technology to Russia, possibly including interception and surveillance equipment.
  • The throughput of West America Port in March hit a new high year-on-year. The Port of Long Beach recently released a report that it handled 863,156 TEUs of containers in March, an increase of 3.4% from the record set in March 2021. The Port of Los Angeles also said it handled a record 958,674 TEU in March, and the port also set a record of 1.8 million TEUs in the first quarter, up 3.5% year-on-year.

Industry

  • Demand for older semiconductor manufacturing equipment has increased. The price of used exposure equipment used to form circuits has doubled from 2 years ago.
  • TrendForce: In the first quarter, global TV shipments reached 47.26 million units, down 20% from the previous quarter. With limited disposable budgets, consumers are starting to cut back on non-essentials. It predicts that this year’s TV shipments will be further reduced to 212 million units, an annual increase of only 1%.

China

  • The meeting of the Central Finance and Economics Committee: Comprehensively strengthen infrastructure construction and build a modern infrastructure system to lay a solid foundation for building a socialist modern country in an all-round way. It is necessary to strengthen the construction of network-based infrastructure such as transportation, energy, and water conservancy, and focus on networking, supplementing the network, and strengthening the chain, and strive to improve network efficiency.
  • Ministry of Finance: From January to March, the total operating income of state-owned enterprises was 18,604.47 billion yuan, a year-on-year increase of 12.9%. The total profit was 1,018.74 billion yuan, a year-on-year increase of 7.0%. At the end of March, the asset-liability ratio of state-owned enterprises was 64.3 percent, up 0.1 percentage point.
  • China Federation of Logistics and Purchasing: In the first quarter, the total amount of social logistics in the country was 84.0 trillion yuan, a year-on-year increase of 6.2%. In terms of scale, the ratio of total social logistics to GDP rose to 3.1, the highest level since 2020. Since March, the international environment has become more complex and severe, domestic epidemics have occurred frequently, and the growth rate of logistics supply and demand has stabilized and slowed down. Overall, the logistics scale continued to expand in the first quarter.
  • The People’s Bank of China decided to lower the foreign exchange deposit reserve ratio of financial institutions. The People’s Bank of China issued a decision on April 25 to reduce the foreign exchange deposit reserve ratio of financial institutions by 1 percentage point to 8% from May 15.
  • Chongqing Liangjiang New District will build a life and health industry of “1000 doctors and 100 billion”. Chongqing Liangjiang New Area announced on April 25 that it will build a Liangjiang Life Science and Technology City with “1000 doctors and 100 billion”, and provide multiple tens of millions of awards, with a maximum subsidy of 100 million yuan.
  • Guangzhou supports direct financing of “specialized, refined, and new” enterprises.

Company

  • Huawei: According to the recruitment information, it will offer more than 5 times the salary, regardless of education and school, and recruit talented young people from all over the world. In the past two years, more than 300 talented teenagers have been recruited, with the highest annual salary of 2.01 million. The job posting says Huawei is eager for you who have the ability and willingness to challenge world-class problems.
  • AliExpress: Published guidelines for compliance requirements in the US and European markets. The platform has successively opened the US qualification submission entry on the product release page for related industry categories, and exports to the UK will require UKCA certification or UKNI certification from next year.
  • The net profit of China Zhonggu Logistics (中谷物流)in the first quarter soared by 170.23%. On the 26th, Zhonggu Logistics released the report for the first quarter of 2022. During the reporting period, the company achieved operating income of 3,291,771,656.12 yuan, a year-on-year increase of 24.9%; net profit attributable to shareholders of the listed company was 623,916,382.73 yuan, a year-on-year increase of 170.23%.
  • Pop Mart: Revenue in the first quarter rose sharply year-on-year. On the 26th, Bubble Mart disclosed operating data for the first quarter of 2022. The announcement shows that the unaudited overall revenue was 4.49 billion yuan, a year-on-year increase of 65%-70%. Among them, the revenue of retail stores increased by 75%-80% year-on-year; the revenue of Bubble Mart box extraction machines increased by 115%-120% year-on-year.

World

  • WHO: At least 169 cases of acute hepatitis of unknown etiology in children in 12 countries have been reported, and five common hepatitis viruses A, B, C, D, and E have not been detected. Most of the patients have NOT been vaccinated against the new crown vaccine, so it can be considered that it is not a side effect of the new crown vaccine.
  • Poland and Bulgaria: According to the Associated Press/Reuters Warsaw news, Polish and Bulgarian officials said on the 26th local time that Russia will stop sending gas from the 27th local time because Poland and Bulgaria refused to pay for Russian gas supplies in rubles. Gas supply from both countries.
  • Germany: Survey says companies plan to cut investment due to soaring energy prices. According to the German “Augsburg Allgemeine Zeitung” reported on April 25, the German economic research institute Yves Economic Research Institute survey shows that nearly half of the surveyed German companies intend to cut investment to deal with rising energy costs.
  • Cambodia: Implement the Siem Reap Tourism Development Plan(暹粒旅游). The Cambodian government announced on April 25 the establishment of a special committee to launch and implement the 15-year Siem Reap tourism development master plan, which is expected to create 940,000 jobs and US$6 billion in foreign exchange earnings by 2025.
  • Tanzania: The first electric vehicle company applies for a production license. According to a recent report by Tanzania’s “Daily News”, the Tanzania National Bureau of Standards will conduct quality inspections on prototypes developed by Kaypee Motor, the first local electric vehicle company, to decide whether to authorize its mass production.
  • Bali: Reopens visa on arrival to China. Recently, Bali has reopened the visa on arrival to China, and the scope of application includes mainland China and Taiwan, excluding Hong Kong Special Administrative Region and Macau Special Administrative Region.
  • US: Manufacturing index hit a 7-month high in April. Recently, financial data provider Markit announced that the initial value of the U.S. manufacturing PMI in April was 59.7, a new high since September last year. In addition, a survey released by the American Association for Global Business Economics shows that in the first quarter of this year, it is expected that up to 70% of American companies will increase their labor costs, reaching an all-time high.
  • Israel: The central bank included the yuan in its foreign exchange reserves for the first time. The Bank of Israel recently announced the largest adjustment to its foreign exchange reserve allocation in more than 10 years. For the first time, the RMB and three other currencies (CAD, AUD, and JPY) were included in the foreign exchange reserves, while the proportion of the U.S. dollar and the euro was reduced. The country’s foreign exchange reserves topped $200 billion for the first time last year.
  • The economic growth rate of the Philippines has surpassed that of the four countries of Malaysia, India and Thailand. Recently, the International Monetary Fund raised its 2022 gross domestic product (GDP) growth forecast for the Philippines to 6.5 percent from an initial 6.3 percent. The country’s GDP is forecast to grow faster than the ASEAN-5 average of 5.3 percent: Vietnam 6 percent, Malaysia 5.6 percent, Indonesia 5.4 percent, and Thailand 3.3 percent.
  • Kazakhstan lowered its economic growth forecast to 2.1%. A few days ago, Kazakh Minister of National Economy Kuantrov said that the country lowered its GDP growth forecast for 2022 from 3.9% to 2.1%. He also said that the determination of macroeconomic indicators is based on foreign trade economic situation, oil market trends and world economic development expectations.
  • Brazil: According to data from the MCC-ENET index, e-commerce sales increased by 12.59% in the first quarter. In February, the penetration rate of e-commerce in Brazil reached 12.4%, the highest value since January 2018.