- Household electric kettle: Argentina makes preliminary anti-dumping ruling. The preliminary ruling sets a minimum FOB price limit (FOB) of US$12.46/piece for the products involved, and imposes the difference as a temporary anti-dumping duty on the products involved whose declared price is lower than the minimum FOB limit price, valid for four months. The MERCOSUR customs code of the product involved is 8516.79.90.
- The fifth CIIE attracted 145 countries, regions and international organizations.
- China has added 29 import trade promotion innovation demonstration zones. On November 3, the Ministry of Commerce, the National Development and Reform Commission, the Ministry of Finance, the People’s Bank of China, the General Administration of Customs, the State Administration for Market Regulation, the State Administration of Foreign Exchange, and the Food and Drug Administration decided to add 29 national import trade promotion innovation demonstration zones across the country, involving Beijing, Shanghai, Jiangsu, Guangdong and other provinces and cities. According to Li Xingqian, director of the Department of Foreign Trade of the Ministry of Commerce, the import trade promotion innovation demonstration zone has two functional orientations. One is trade promotion, that is, promoting exports, industries, and consumption; Model innovation.
- Thailand: The carbon tax imposed by Europe and the United States will affect the country’s exports of fertilizers, steel and aluminum.According to a recent report from Thailand’s China Daily, Thailand’s Ministry of Commerce reminded exporters and traders that the United States and the European Union will impose high carbon emissions taxes as soon as 2024. The United States will first target fossil fuels and by-products, while the European Union will first pilot 8 types of products , and will come into effect in 2027. US carbon tariffs The Clean Competition Act will impose a tariff of $55 per ton of carbon emissions on products with high carbon emissions in the manufacturing process, while the EU’s carbon boundary adjustment mechanism will impose a carbon tax on 8 goods exported to the EU .
- Argentina: On track to become the world’s second-largest lithium producer by 2025. According to the Argentine National News Agency, Argentina currently has 10 lithium mine investment projects in different stages of development. It is expected that the related projects will be put into operation by the end of 2025, and the output of lithium carbonate is expected to gradually increase to 262,000 tons per year, thus promoting Argentina In 2025, it will become the world’s second largest producer of lithium ore. Currently, Argentina has another 35 lithium projects in the feasibility study, preliminary economic assessment and exploration stages.
- Securities Times: Industry sources revealed that the recycling price of power batteries has risen 10 times a year.
- As a battery anode current collector, composite copper foil has the advantages of high safety, low cost, and improved battery quality and energy density. It is a general trend to replace traditional copper foil. It is optimistic that the replacement space will exceed 29 billion yuan in 2025.
- SNE Research: The global registration of new hydrogen energy vehicles in the first nine months was 14,400, a year-on-year increase of 10.1%. The growth momentum of the global hydrogen vehicle market has slowed compared with last year, and car companies generally regard electric vehicles as their strategic focus. Hyundai’s hydrogen-powered models ranked first in the world with sales of 8,449 units in the first nine months, a year-on-year increase of 23.2%. The second-ranked Toyota sold 2,619 vehicles in the first three quarters, a year-on-year decrease of 47.7%.
- Omdia: This year, the global server demand for DRAM will reach 68.486 billion GB, and the DRAM required for mobile devices such as smartphones and tablet computers is expected to be 66.272 billion GB. By 2026, the average annual growth rate of server DRAM demand is expected to reach 24%, and related manufacturers will also benefit from it.
- Southeast Asia’s digital economy reaches $200 billion.
- The GDP of the first three quarters of 31 provinces was released. As of November 2, the third quarterly economic reports of 31 provinces (autonomous regions and municipalities, excluding Hong Kong, Macao and Taiwan) have been released. Among the 31 provinces, 25 provinces had a total GDP of more than one trillion yuan in the first three quarters. Among them, Guangdong (9,172.322 billion yuan), Jiangsu (8,865.27 billion yuan), Shandong (6,440.9 billion yuan), and Zhejiang (5,575 billion yuan) had a GDP exceeding 5 trillion yuan in the first three quarters.
- Ministry of Finance: In September, 32.2 billion yuan of new local government bonds were issued nationwide, including 8.1 billion yuan of general bonds and 24.1 billion yuan of special bonds. 268.9 billion yuan of refinancing bonds were issued nationwide, including 172.3 billion yuan of general bonds and 96.6 billion yuan of special bonds. From January to September, 4,242.2 billion yuan of new local government bonds were issued nationwide, including 699 billion yuan of general bonds and 3,543.2 billion yuan of special bonds.
- Hong Kong Monetary Authority: Raise the benchmark interest rate by 75 basis points to 4.25%.
- Ministry of Industry and Information Technology: Approved China Unicom to re-cultivate the frequency resources of the 900MHz frequency band currently used for 2G/3G/4G systems for 5G systems. The 900MHz frequency band has the characteristics of low propagation loss, wide coverage, strong penetration ability and low network deployment cost.
- Germany: Survey shows one in four family businesses considering layoffs.
- Meta announced financial results, the third quarter net profit halved. Recently, Facebook’s parent company Meta announced its financial results for the third quarter of fiscal 2022. The financial report showed that the company’s operating profit in the quarter was $5.664 billion, down 46% from $10.423 billion in the same period last year.
- BMW Group revenue was 37.18 billion euros, an increase of 35.3%. On the 3rd, the BMW Group released its third-quarter financial report. The third-quarter revenue was 37.18 billion euros, a year-on-year increase of 35.3%, and the expected 35.53 billion euros; net profit was 3.18 billion euros, a year-on-year increase of 22.9%. The revenue growth was driven by new and used vehicle pricing and favorable product mix.
- Wu Kai, chief scientist of CATL: At present, CATL has served more than 5 million vehicles on the road. Next, we will still insist on high investment, multiple routes and the whole chain. The company’s R&D expenses in the first nine months have exceeded 10 billion yuan, and a team of R&D experts with more than 12,000 people has been established. The R&D layout covers all potential stocks on the battery route.
- BYD: The sales volume of new energy vehicles in October was 217,800 units, an increase of 168.9% year-on-year, and 81,000 units in the same period last year; the sales of new energy vehicles from January to October were 1,402,900 units, an increase of 158.52% year-on-year.
- It is reported that after Musk takes over Twitter, Twitter is expected to lay off 50% of its overall workforce, equivalent to about 3,700 employees.
- SHEIN will open its first physical store in Tokyo, Japan. SHEIN announced that it will open its first offline brick-and-mortar store on November 13 in Cat Street, Harajuku District, Tokyo. The store covers an area of about 200 square meters and will have three fitting rooms and a photo booth. The store does not sell products directly, but for customers to try on and view products, and scan QR codes to buy online.
- Maersk warns: Recession is imminent.
- South Korea’s KSS Shipping released its results, reaching a new high. South Korea’s KSS Shipping released its third quarter 2022 results report. In the first nine months, the operating income was 324.7 billion won, a year-on-year increase of 41.8%, setting a record for the same period in history; the operating profit was 48.5 billion won, a year-on-year increase of 12.0%; the net profit was 54.1 billion won, a year-on-year increase of 20.4%.
- United States: The Federal Reserve announced a 75 basis point rate hike, raising the target range for the federal funds rate to between 3.75% and 4.00%, in line with market expectations.
- Southeast Asia: Digital economy slows down.
- According to the “2022 Southeast Asia Digital Economy Report” jointly released by Internet giant Google, investment company Temasek Holdings and consulting firm Bain, the total transaction volume of Southeast Asia’s digital economy is expected to reach US$200 billion this year, a year-on-year increase of 20%, which is lower than last year’s growth rate 38%. The “Report” predicts that by 2025, the scale of Southeast Asia’s digital economy will reach 330 billion US dollars, which is lower than the previous forecast of 360 billion US dollars. This is the first time the report has lowered its growth forecast since its release in 2016.
- Eurozone: Inflation hit a record high for the 12th month in a row.
- The Russian Ministry of Economy announced that the domestic economy shrank by 5% year-on-year.
- Bank of England: The benchmark interest rate was raised by 75 basis points to 3%, in line with expectations.
- French polling agency Ipsos found that 60% of Britons have not turned on their heating in cold weather since the start of the year due to rising living costs.
- The central banks of the United Arab Emirates and Saudi Arabia announced a 75 basis point rate hike.
- Brazil’s September industrial output fell 0.7% month-on-month.
- Italian manufacturing contracted for the fourth straight month to 46.5.
- Ghana: The only country in Africa with 100% mobile finance.
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