China Trade Import Export/RCEP/OBOR-221107-Abbizi Daily News

Trade

India allows limited exports of sugar (including raw, refined and white sugar) from November 1 (2022) to October 31 next year(2023). It is reported that sugar mills located across the country have been granted separate export quotas, with total exports of no more than 6 million tonnes as of May 31, 2023. India had announced on November 4 (2022)that it would extend the sugar export ban until October 31 next year. The restriction does not apply to quota exports of sugar to the EU and US.
The China-Africa cross-border e-commerce B2B platform will be launched soon.
New York and the Port of Jersey saw record 26th straight month of cargo volumes. Its September throughput of 842,219 TEUs hit a new high for the 26th consecutive month. It was also the busiest container port in the U.S. for the second month in a row. The port fared significantly better in September than California’s two main hubs, the Ports of Los Angeles and Long Beach.
South Korea’s KSS Shipping released results, which were lower than expected.
CCTV News: In 2021, China’s food import volume will reach a new record high, with the annual import volume reaching US$135.46 billion, a year-on-year increase of 25.4%, and the market retail scale is about 1.6 trillion yuan. The compound annual growth rate for the past 10 years has reached 13%. The top five food categories in terms of import value are meat, grain, aquatic products, dairy products and fruits, and the import value exceeds 10 billion US dollars.

China University of Social Sciences and Social Sciences Literature Publishing House: jointly released the “World Energy Blue Book: World Energy Development Report (2022)”. It is estimated that by 2025, the electricity consumption of emerging industries will account for 19.7% to 20.5% of the electricity consumption of the whole society, an increase of about 5 percentage points from 2021. 40.3%.
In order to promote the healthy and orderly development of the intelligent networked vehicle industry, the Ministry of Industry and Information Technology and the Ministry of Public Security organized the drafting of the “Notice on Launching the Pilot Work of ICV Access and Road Traffic (Draft for Comment)”. A number of industry insiders said that the breakthrough significance of the “Notice” is that L3 and L4 smart cars will be allowed to go on the road and drive in specific areas, which means that the commercialization of smart cars has taken a big step forward.

At the opening of the China International Import Expo, eight departments including the Ministry of Commerce and the National Development and Reform Commission decided to set up 29 additional national import trade promotion innovation demonstration zones across the country. Including Beijing Capital International Airport Airport Economic Zone, Shanghai Huaihai Xintiandi Import Trade Functional Zone, Guangdong Shenzhen Qianhai Shekou Free Trade Zone, etc. At present, there are 43 national import demonstration zones in the country.
The number of second-hand housing listings in Beijing has exceeded 100,000, hitting a new high this year.

eBay’s revenue was $2.380 billion, down 5% year over year.
South Korea’s KSS Shipping released results, which were lower than expected. Recently, global freight forwarding giant C.H. Robinson announced its third quarter 2022 financial report. The company achieved revenue of $6.015 billion, 6.74% lower than market expectations. Among them, the freight forwarding business, the adjusted gross profit of sea freight decreased by 25.6%, and the adjusted gross profit of air freight decreased by 21.1%.
IKEA retail sales reached 39.5 billion euros, an increase of 5.6%. Recently, the global furniture giant IKEA announced its results. In the fiscal year ending in August, retail sales reached 39.5 billion euros, a year-on-year increase of 5.6%; net profit fell by half to 710 million euros, down from 1.43 billion euros in the previous fiscal year. .
Twitter officially launched a new subscription service, charging $8 a month, to provide users with “Blue V certification.” At the same time, an updated version will be launched in the Apple App Store App Store. Users who “register now” for Apple iOS devices can add “Blue V Certification” next to their user name for $7.99 per month.

Eurozone inflation soared to a record high of 10.7%.
Recently, Eurostat released data showing that the inflation rate in the euro zone soared to 10.7% in October, a record high for 12 consecutive months, and reached more than 5 times the European Central Bank’s 2% inflation target. The European Central Bank is still under pressure to continue raising interest rates despite a sharp slowdown in economic growth in the third quarter.
Japan announced an economic stimulus plan of 71.6 trillion yen.
Saudi Arabia: fastest growing economy among G20 countries
IMF approves $3.8 billion loan to Argentina.
CPAG(CPAG GROUP): The global manufacturing PMI in October was 49.4%, down 0.9 percentage points from the previous month.
North America: When winter time starts, the trading hours (gold and silver, U.S. oil, U.S. stocks, etc.) and economic data in the U.S. and Canada will be delayed by one hour from daylight saving time. From November 7th, US stocks will open at 22:30 Beijing time and close at 05:00 the next day. Please pay attention.