• Korea Customs Service: South Korea’s passenger vehicle exports in the third quarter increased by 30.1% year-on-year to US$12.63 billion, a record for a single quarter. This is due to the improvement in the supply of automotive chips, coupled with the strong export performance of new energy vehicles. The export value of new energy vehicles increased by 42.3% year-on-year to US$4.047 billion, the highest in a single quarter.
  • 23 Chilean ports were paralyzed by a strike by workers. Recently, in Chile, in South America, about 6,500 workers affiliated with port unions in 23 ports launched a 48-hour general strike, demanding an agreement with the government to improve working conditions. Workers protested the lack of progress in contract negotiations with the Chilean government.

Industry -China

  • Strategy Analytics: China’s smartphone shipments in Q3 fell 16% year-on-year to 66.9 million units. vivo regained the top spot with a market share of 21%, followed by OPPO (including OnePlus), Honor, Apple, and Xiaomi. It was the sixth consecutive quarter of annual declines in smartphone shipments.
  • IDC: In the first half of the year, the overall market size of China’s edge computing servers reached 1.68 billion US dollars, and it is expected to reach 4.27 billion US dollars for the whole year, a year-on-year increase of 25.6%. It is estimated that from 2021 to 2026, the compound annual growth rate of the overall market size of edge computing servers in China will reach 23.1%, higher than the global 22.2%.
  • TCL Zhonghuan: Cut the price of monocrystalline silicon wafers. Taking the P-type 150μm thickness of monocrystalline silicon wafers as an example, 210mm has been reduced from 10.06 yuan/piece to 9.73 yuan/piece, and 182mm has been reduced from 7.62 yuan/piece to 7.38 yuan/piece. The last price reduction was December 30, 2021. The main reason is that the supply of upstream silicon material is more abundant than that in the third quarter, and the company’s processing rate has increased. In the fourth quarter, domestic large-scale ground power plants started construction, and there was a strong demand for large-sized components.
  • GGII: In 2021, the market size of China’s lithium battery modules and PACK equipment will reach 8 billion yuan, and it is expected to exceed 20 billion yuan in 2025. From the perspective of the downstream application market, the power and energy storage fields are the main contributors to the market demand for lithium battery modules and PACK equipment, accounting for more than 85% of the entire lithium battery module and PACK equipment market. As of the end of September, China’s lithium battery production capacity has reached 750GWh.
  • CBN: From 2012 to 2021, the scale of China’s digital economy has grown from 11 trillion yuan to 45.5 trillion yuan, ranking second in the world for several consecutive years, becoming an important engine for promoting high-quality economic and social development. The national online retail market has ranked first in the world for 9 consecutive years. At the same time, the e-commerce transaction volume maintained rapid growth, from 8 trillion yuan in 2012 to 42.3 trillion yuan in 2021, with an average annual growth of 20.3%. The scale of e-commerce and mobile payment is the world’s leading, and the market scale of online car-hailing, online takeaway, digital culture, and smart tourism continues to expand. The Internet, big data, cloud computing, artificial intelligence, blockchain and other digital technology innovations are active, and the value of data as a key production factor is increasingly prominent.
  • Haitong Securities: The current development of the digital economy is a national strategy. The China Academy of Information and Communications Technology released the “China Digital Economy Development Report (2022)” in July. The report mentioned that the role of the digital economy as a “stabilizer” and “accelerator” of the national economy is more prominent. In 2021, new breakthroughs will be made in the development of China’s digital economy. The scale of the digital economy will reach 45.5 trillion yuan, a year-on-year nominal growth of 16.2%, which is 3.4 percentage points higher than the nominal GDP growth rate over the same period, accounting for 39.8% of GDP. According to China Mobile’s forecast, the digital economy will account for more than 50% of GDP in 2025. In the subdivisions, new infrastructure such as data centers, cloud computing, and 5G are the main directions for policy efforts.
  • China Iron and Steel Association: In the first three quarters, member iron and steel enterprises achieved operating income of 4,866.7 billion yuan, down 9.27% ​​year-on-year; total profit was 92.8 billion yuan, down 71.34% year-on-year. The larger decline was related to the high base last year. Although the economic benefits have dropped significantly year-on-year, the management expenses and financial expenses of the enterprise have continued to decline, and the research and development expenses have increased by 11.9% year-on-year. The overall asset condition of the industry is relatively good.
  • Ministry of Finance: In September, the nationwide sales of lottery tickets totaled 33.332 billion yuan, a year-on-year increase of 2.093 billion yuan or 6.7%. Among them, the sales of welfare lottery institutions were 12.319 billion yuan, an increase of 475 million yuan or 4.0% year-on-year; the sales of sports lottery institutions were 21.013 billion yuan, an increase of 1.618 billion yuan or 8.3% year-on-year. From January to September, a total of 281.241 billion yuan of lottery tickets were sold nationwide, a year-on-year increase of 2.710 billion yuan or 1.0%. Among them, the sales of welfare lottery institutions were 112.231 billion yuan, a year-on-year increase of 9.981 billion yuan or 9.8%; the sales of sports lottery institutions were 169.010 billion yuan, a year-on-year decrease of 7.271 billion yuan or 4.1%.
  • Bureau of Statistics: In October, the manufacturing PMI was 49.2%, down 0.9 percentage points from the previous month. The non-manufacturing PMI was 48.7%, down 1.9 percentage points from the previous month. The composite PMI output index was 49.0 percent, a decrease of 1.9 percentage points from the previous month.
  • China Liquor Industry Association: Jointly published a signed article “China Liquor Industry is a Fully Market-oriented Long-Term Industry” in conjunction with six major liquor leaders including Kweichow Moutai, Wuliangye, Yanghe Co., Ltd., Luzhou Laojiao, Shanxi Fenjiu, and Gujing Gongjiu.


  • National Immigration Administration: In order to further facilitate mainland residents to apply for a travel endorsement to Macau, the Exit-Entry Administration of the People’s Republic of China has decided to enable smart endorsement equipment at the exit and entry windows of public security organs from November 1 to accept applications for travel endorsement from mainland residents to Macau.
  • CCTV News: From January to September, 51,600 old urban communities and 8.48 million households were newly renovated nationwide. The operating rate was 100.9% based on the number of communities and 101.1% based on the number of households, exceeding the annual start-up plan.
  • China’s manufacturing PMI was 49.2%, below the threshold.


  • Shanghai Disney Resort: According to the requirements of epidemic prevention and control, Shanghai Disney Resort (including Shanghai Disneyland, Disneytown and Wishing Star Park) will be temporarily closed from October 31, effective immediately.
  • Ford Electric Horse: Since Tesla has cut prices across its entire range in China, Ford Electric has become the first electric vehicle brand to officially announce a “follow-up” price cut. Ford China Electric Vehicle Division announced that starting from October 31, the price of all Ford Mustang Mach-E series will be reduced by 20,000-28,000 yuan, and the adjusted price range will be 249,900-369,900 yuan.
  • China Economic Net: Shareholders of GAC Fick, GAC Group and Stellantis have approved a resolution allowing GAC Fick to file for bankruptcy at a loss.
  • CEO of Sony Semiconductor: Even if the smartphone market has peaked, the annual sales volume is 1.2 billion to 1.3 billion units, and the market for smartphone CIS is about 5 billion units per year. At the same time, Sony is actively expanding more application markets, among which automotive CIS is the focus in the future. In September, a joint venture “Sony-Honda Mobile” was established with Honda. It is expected to mass-produce electric vehicles in 2025, which will be equipped with Sony automotive CIS products. (CIS=MOS Image Sensor)
  • Amazon reported earnings, with net profit down 9%. Amazon released its financial report for the third quarter of fiscal 2022. In the quarter, Amazon’s net sales were $127.101 billion, a year-on-year increase of 15%; net profit was $2.872 billion, a year-on-year decrease of 9%. The company expects net sales to grow 2% to 8% year over year in the fourth quarter of fiscal 2022.
  • Wish announced the launch of its merchant hosting service. Wish announced that it will launch a merchant hosting service in an effort to find more ways to help merchants grow their businesses. Merchant hosting services can provide merchants with services to open and operate stores on Wish, including registering a Wish merchant account, managing inventory, and fulfilling orders, covering the entire operation process.
  • COSCO SHIPPING Holdings announced its results, with net profit up 43.74%. COSCO SHIPPING Holdings released the report for the third quarter of 2022. The operating income in the first three quarters was 316.541 billion yuan, a year-on-year increase of 36.75%; the total profit was 140.906 billion yuan, a year-on-year increase of 51.40%; the net profit attributable to shareholders of the listed company was 97.215 billion yuan, a year-on-year increase of 43.74%.
  • Microsoft announced its first-quarter financial report for fiscal 2023. Revenue in the first quarter was $50.122 billion, an increase of 11% year-on-year, the weakest quarterly revenue growth since fiscal 2018; net profit was $17.556 billion, a year-on-year decrease of 14%.
  • Unilever’s price rose 12.5%, and its financial report exceeded expectations. British consumer giant Unilever continued to exceed expectations in the third quarter: the group recorded a record sales of 15.848 billion euros, a year-on-year increase of 17.8%, mainly due to the sharp price increase of 12.5%. In addition, sales fell by 1.6% quarterly, which was better than the 2.1% decline in sales in the second quarter.


  • Eurozone: Inflation is expected to hit 10.7% in October, up from 9.9% in September and again a record high since 1997. In the third quarter, GDP rose 0.2% month-on-month and 2.1% year-on-year.
  • Japan’s Ministry of Finance: In October, it used $42.4 billion to intervene in the foreign exchange market. The data covers the period from September 29 to October 27.
  • German think tank: At present, 7.5% of German companies are facing a crisis of survival due to the economic downturn.
  • South Korea: Signed a memorandum of understanding on nuclear power development plans with Poland on October 31. As a result, the Korean-style new-generation nuclear power plant APR1400 will be exported to Poland for the first time. It is also the first time in 13 years that a new generation of nuclear power plants has been exported.
  • The Central Bank of Egypt announced a 200 basis point rate hike.
  • The Spanish economy grew by 0.2% in the third quarter. Down from 1.5% in the second quarter; year-over-year growth was 3.8%, down from 6.8% in the second quarter. .
  • The Philippines has posted a balance of payments deficit for five consecutive months. A few days ago, the central bank of the Philippines announced data that the country’s balance of payments deficit in August was US$572 million, the fifth consecutive month. In the first eight months of this year, the Philippines’ balance of payments deficit widened to $5.492 billion from $253 million in January-August 2021.