Trade alert

  • Hinged link: Turkey made the second anti-dumping sunset review final ruling. Recently, the Turkish Ministry of Trade issued an announcement saying that the second anti-dumping sunset review of the hinged chain originating in China was made a positive final ruling, and it was decided to continue to levy an anti-dumping duty of US$1,200/ton on the products involved. The Turkish tax numbers of the products involved are 7315.11.90.00.11, 7315.11.90.00.19, 7315.12.00.00.11, etc.

Trade

  • India: Easing ban on wheat exports. The Indian government announced on May 17 that it would relax the temporary ban on wheat exports. Wheat shipments that have been inspected by the customs and filed in the customs system on or before May 13 will be allowed to be exported.
  • Germany: The market share of German-made pure electric vehicles in China has doubled. According to a recent report by Süddeutsche Zeitung, according to a study by PricewaterhouseCoopers, German manufacturers doubled their share of the pure electric vehicle market in China compared with the same period last year to 4%.
  • South Korea: Shipments from China to Incheon increased significantly. Since late April, seaborne cargo from Shanghai, China and other places to Incheon, South Korea has increased significantly, and container cargo ships have increased to an average of 28 per day. Incheon Customs has set up a temporary special class to ensure the smooth customs clearance of goods.
  • Chongqing, China: Chongqing will add two new all-cargo routes to India. Indian Spice Airlines has opened the Chongqing-Delhi route this month, and will also open two international all-cargo routes from Chongqing to Mumbai, with three flights per week. This route mainly exports computer keyboards, camera brackets, PC boards, inverter accessories, electronic fuel pump molds and other goods to India.
  • The Port of Long Beach reported a 10% increase in April throughput. The Port of Long Beach announced that it handled 820,718 TEUs of cargo in April, a 10% increase from a year earlier. Among them, the import volume increased by 9.2% to 400,803 TEU, and the export volume decreased by 1.8% to 121,876 TEU. In the first four months, the throughput of Long Beach Port reached 3,281,377 TEUs, a year-on-year increase of 5.1%.

Industry

  • Canalys: In the first quarter, TWS shipments showed steady growth, reaching 68 million. Apple took the crown with a 32% market share, up 14% year over year. Although Samsung and Xiaomi declined, they still maintained the second and third positions with 9% and 7% market shares. Skullcandy and Edifier ranked fourth and fifth as head audio manufacturers with 5% and 3% market share respectively.
  • The global dairy trade price index fell 2.9% in recent days, the fifth consecutive decline since March. The price of whole milk powder fell the most, down 4.9% to $3,934 per ton. Global dairy prices hit a nine-year high in February.
  • Sea released its financial report, with revenue up 64.4% year-on-year. Sea’s financial report for the first quarter of 2022 showed that the company’s revenue was US$2.9 billion, a year-on-year increase of 64.4%; gross profit was US$1.2 billion, an increase of 81.3% year-on-year. Among them, e-commerce revenue was US$1.5 billion, a year-on-year increase of 64.4%, and total orders were 1.9 billion, a year-on-year increase of 71.3%.

China Industry

  • China Construction Machinery Industry Association: In April, 549 bulldozers of various types were sold, a year-on-year decrease of 32.5%; of which 243 were domestic, a year-on-year decrease of 59.9%; and 306 were exported, a year-on-year increase of 47.8%. From January to April, a total of 2,318 bulldozers were sold, a year-on-year decrease of 21.9%; of which 1,028 were domestic, a year-on-year decrease of 52.4%; and 1,290 were exported, a year-on-year increase of 59.9%.
  • The beauty industry is one of the areas where new domestic products are taking the lead. On the dressing table of the “post-95” young people, more than 40% of them are domestic products, and the “post-00” consumption of domestic products has the fastest growth rate.
  • Reckitt Benckiser announced to increase milk powder production by 30%

China

  • National Energy Administration: As of the end of April, the national installed capacity of power generation was about 2.41 billion kilowatts, a year-on-year increase of 7.9%. Among them, the installed capacity of wind power is about 340 million kilowatts, a year-on-year increase of 17.7%; the installed capacity of solar power generation is about 320 million kilowatts, a year-on-year increase of 23.6%. From January to April, China’s raw coal output increased by 10.5% year-on-year, maintaining rapid double-digit growth for four consecutive months.
  • In 2021, the overall output value of China’s satellite navigation and location services industry will reach 469 billion yuan, a year-on-year increase of 16.29%; the cumulative total of China’s satellite navigation patent applications will exceed 98,000. By the end of 2021, the total number of relevant listed companies in the industry is 90, and the related output value of listed companies involving satellite navigation and location services accounts for about 8.7% of the country’s total output value.
  • Since May, more than 40 cities have issued policies to stabilize the property market, including hot cities such as Haikou, Chengdu, and Hangzhou.
  • Bureau of Statistics: In April, the sales price of new commercial housing in first-tier cities increased by 0.2% month-on-month and 3.9% year-on-year; second-hand housing in first-tier cities increased by 0.4% month-on-month and 2.4% year-on-year; sales prices of new commercial housing in second-tier cities decreased by 0.1% month-on-month and year-on-year Up 1.0%; new commercial housing in third-tier cities fell by 0.6% month-on-month and 1.5% year-on-year.
  • Shanghai: Starting from the second batch of centralized land supply this year, it is planned to reduce the proportion of land auction supervision funds from 110% of the starting price to 90%.
  • Suzhou: It is reported that the first-home loan interest rate of some large state-owned banks in Suzhou has dropped to a minimum of 4.4%, from 4.6% before. The second-set loan can be repaid according to the above-mentioned first-home interest rate, and the unpaid second-set loan interest rate is still 5.2%. %.

Company

  • Tencent: In the first quarter, revenue was 135.471 billion yuan, basically flat year-on-year; adjusted net profit was 25.5 billion yuan, down 23% year-on-year. Game revenue in the local market decreased by 1% to 33 billion yuan; game revenue in the international market increased by 4% to 10.6 billion yuan; online advertising business revenue fell by 18% year-on-year to 18 billion yuan. R&D investment increased by 36% year-on-year to 15.383 billion yuan. As of the end of the first quarter, the number of monthly active accounts on WeChat and WeChat was 1.288 billion, a year-on-year increase of 3.8%; the number of daily active accounts on WeChat mini-programs exceeded 500 million.
  • Apple: Delayed plans to require employees to work in offices three days a week, due to take effect on May 23, due to the resurgence of the new crown pneumonia epidemic. But employees are still expected to come to the office two days a week.
  • Burberry: In the first quarter, revenue was 2.83 billion pounds, a year-on-year increase of 23%; adjusted operating profit was 520 million pounds, a year-on-year increase of 38%. The Chinese market, which accounts for one-third of the business, has shrunk due to the impact of the epidemic, with a year-on-year decline of 13%
  • It is reported that SpaceX’s valuation has reached 125 billion US dollars, which will surpass the financial technology giant Stripe to become the most valuable startup company in the United States.

World

  • European Commission: Announces energy plan called “RepowerEU”, which increases the overall 2030 target for renewable energy in the “55% carbon reduction” policy portfolio from 40% to 45%; establishes a dedicated EU solar strategy that will Double solar PV capacity to install 600GW by 2030. Nearly 300 billion euros will be mobilized, of which about 10 billion will be used to fill the missing links in gas, oil infrastructure, etc., and the rest will be used to accelerate and expand the clean energy transition.
  • EU: Lowered its economic growth forecast for this year and next. The European Commission recently released its Spring 2022 Economic Outlook Report. The report predicts that, affected by the conflict between Russia and Ukraine, the EU economy will grow by 2.7% and 2.3% in 2022 and 2023, respectively, lower than the 4% and 2.8% predicted in the outlook report in February this year.
  • Russia: The Vice-President of the State Duma (lower house of parliament) said plans are underway to discuss the possibility of Russia’s withdrawal from the WTO and WHO.
  • Russia: Occupy about 20% of the world arms market, the existing orders for the next few years total about 50 billion US dollars, and the total annual export of weapons is 14 billion to 15 billion US dollars. Arms exports are Russia’s third largest export revenue component after energy and food, and the main buyers are India, China, Algeria and Egypt.
  • In April, the number of visitors to Japan was estimated at 139,500, the first time the number of visitors to Japan since March 2020 exceeded 100,000.
  • Thailand: Measures will be introduced to support the construction of new economic corridors. Stimulated areas include biological, circular and green (BCG) economies, human resource development, and more.
  • South Sudan: Approved $28.3 million water resources project.
  • United States: Gasoline prices set a new record again, reaching $4.483 per gallon, and even close to $6 in some places.