Trade alert

  • Photovoltaic cells and modules: India postpones final ruling. The office memorandum made by the Ministry of Finance of India on October 31, 2022 mentioned that it accepted its application on October 27, 2022 to postpone the issuance of the final ruling on anti-dumping investigations on photovoltaic cells and modules originating in or imported from China, Thailand and Vietnam , agreed to extend until November 14, 2022, and no extension thereafter.


  • The Korea-Israel Free Trade Agreement (FTA) will come into effect on December 1. South Korea is the first Asian country to sign a free trade agreement with Israel, which will help diversify the import sources of high-tech equipment such as semiconductors, electronics, and communications, and deepen technological cooperation between companies of the two countries. Tariffs on cars and parts, textiles, and cosmetics will be zeroed immediately after the FTA comes into force.
  • Trade statistics from Japan’s Ministry of Finance show that the export value of sake to overseas in 2021 will be 40.1 billion yen, a year-on-year increase of 66%, expanding to about 4.6 times that of 2011. In particular, the growth to China has been significant, with exports reaching 10.2 billion yen in 2021, a year-on-year increase of 77%. Kobe City’s Hakusuru Brewery will double its sales to China by fiscal 2025 compared to its plan for fiscal 2022. Oenon Holdings will also quadruple its exports in 2023 to 2021.
  • The UAE and Cambodia start negotiations on a comprehensive economic partnership. Recently, the UAE and Cambodia announced the start of negotiations on the Comprehensive Economic Partnership Agreement (Cepa), which aims to increase bilateral non-oil trade to US$1 billion in the next three to five years. The agreement will focus on infrastructure and logistics, tourism and hospitality, food safety,etc
  • South Africa has announced that it will create a state-owned shipping company (SASCO).
  • Jordan: From January to July 2022, 835,000 mobile phones were imported, worth a total of 120 million JD, of which mobile phones imported from China were worth 75 million JD, followed by Vietnam, India, South Korea, the United States and Turkey.
  • In the first three quarters, China’s total import and export of services increased by 18.2% year-on-year.
  • The scale of China’s cross-border e-commerce import and export has increased tenfold in five years. In the five years since 2017, China’s cross-border e-commerce import and export scale has increased by nearly 10 times. In 2021, the import and export value of cross-border e-commerce will reach 1.92 trillion yuan, a year-on-year increase of 18.6%; of which the export value will be 1.39 trillion yuan, an increase of 28.3%.

Industry -China

  • Fliggy: The willingness to consume ice and snow tourism continues to rise. The sales of related products such as 11·11 ski hotel universal package, “ski + hot spring” package increased by 30% year-on-year, and Changbai Mountain ranked first in the popular ice and snow tourism destination. Relevant consumer groups continue to show younger characteristics. Young users born in the 1990s and parents and children born in the 1980s accounted for nearly 90%. The number of post-00s ice and snow travel bookings increased by 70% year-on-year.
  • China Banking and Insurance Regulatory Commission: In the past decade, the scale of insurance funds has grown rapidly to 24.71 trillion yuan, a cumulative increase of 2.94 times, and an average annual growth rate of 15.6%.
  • Passenger Car Association: In October, passenger car production and retail sales were 2.277 million and 1.840 million, up 16.3% and 7.3% year-on-year, respectively. Among them, the production and retail sales of new energy vehicles were 719,000 and 556,000, up 92.3% and 75.2% year-on-year, respectively. From January to October, the production and retail sales of passenger vehicles were 19.148 million and 16.716 million, up 17.8% and 3.0% year-on-year, respectively. Among them, the output and retail sales of new energy vehicles were 5.189 million and 4.432 million, up 117.4% and 107.5% year-on-year respectively.
  • Hurun Research Institute: Release the “2022 Hurun Rich List”. Zhong Suisui, a 68-year-old Zhejiang businessman from Nongfu Spring, has become the richest man in China for the second time with 455 billion yuan, an increase of 65 billion yuan over last year.
  • Clarksons: Global newbuilding orders in October were 3.41 million revised gross tons, an increase of 19% year-on-year. Among them, China topped the list with 1.8 million revised gross tons, and South Korea ranked second with a 42% market share. From January to October, the cumulative global order volume of new ships was 34.75 million revised gross tons, a decrease of 28% year-on-year. China and South Korea won 15.81 million revised gross tons and 14.65 million revised gross tons respectively, accounting for 46% and 42% respectively.
  • China Construction Machinery Industry Association: In October, 20,501 excavators of various types were sold, a year-on-year increase of 8.1%, of which 11,350 were domestic, a year-on-year decrease of 9.91%; and 9,151 were exported, a year-on-year increase of 43.8%. From January to October, a total of 220,797 excavators were sold, a year-on-year decrease of 26%; of which 131,340 were domestic, a year-on-year decrease of 46.4%; and 89,457 were exported, a year-on-year increase of 67.3%.
  • Douyin(抖音): Released the “2022 Douyin Performing Arts Live Streaming Data Report”. In the past year, more than 32 million live broadcasts of performing arts, including opera, musical instruments, dance, drama and other art categories, have been broadcast on Douyin, with an average audience of more than 3,900 people; An increase of 46%, and more than 60,000 talent anchors achieved an average monthly live broadcast income of over 10,000 yuan.
  • Aviation Industry Corporation of China: Released the “2022-2041 Civil Aircraft China Market Forecast Annual Report”. It is expected that China’s air transport market will maintain stable growth in the next 20 years, with an average annual growth rate of 7.7% in passenger turnover and 6.8% in cargo and mail turnover. It is estimated that between 2022 and 2041, China will need to replenish 7,035 civil passenger aircraft of various types, including 1,396 wide-body trunk aircraft.


  • EU: Electric vehicle sales up 22% in the third quarter of 2022. According to data from the European Automobile Manufacturers Association, in the third quarter of this year, the sales of pure electric vehicles in the EU increased by 22% year-on-year to 259,400. Its share of total EU passenger car sales rose to 11.9% from 9.8% a year earlier. In addition, the share of hybrid vehicles in total EU passenger car sales also increased, from 21.2% a year ago to 22.6%.


  • Nvidia: A new chip, the A800, will be launched in China that complies with recent U.S. export controls. The A800 GPU chip, which went into production in the third quarter, is a replacement for Nvidia’s A100 GPU chip, which has been restricted from exporting to China by the U.S. Department of Commerce.
  • Wish: Fishing gear products are the most searched products. At the category level, in the third quarter, among the hobby products on the Wish platform, fishing gear products were the most searched hobby products in the third quarter of 2022.
  • Maersk announced its financial report, with a net profit of $8.9 billion, a record high.
  • Saudi Arabia has announced that it will cooperate with Foxconn to produce electric vehicles. Recently, the Saudi Public Investment Fund announced a joint venture with Foxconn Technology Group to establish an electric vehicle brand called Ceer, which will license BMW’s component technology to make cars. The parties said that Ceer will develop sedans and sport utility vehicles for the mass market.
  • PayPal announced its financial report, with net profit up 22% year-on-year.
  • Huawei Cloud: 10 new services launched in Dubai. With the theme “Unleashing the Digital”, this conference brings together industry leaders, experts, partners and guests from the Middle East and Africa to share their perspectives on technological innovation, ecosystem collaboration and digital transformation. HUAWEI CLOUD has built 70 Availability Zones (AZs) in 27 regions around the world, launched 92 cloud services in the Middle East, and is currently building new nodes in Saudi Arabia and Egypt.


  • WHO: Temperatures in Europe increased significantly between 1961 and 2021. Climate change has also hit Spain’s olive growing and olive oil industry hard.
  • The Russian government has demanded sanctions against 74 foreign companies, banning military and technical cooperation deals with them. The companies are from Bulgaria, Canada, Czech Republic, Estonia, Germany, Lithuania, Slovakia, Montenegro, Poland, the United Kingdom and the United States.
  • ECB Deputy President: Will continue to raise interest rates to ensure that inflation returns to the level of our definition of price stability.
  • The Korea Development Institute: Forecasts a potential growth rate of 2% for the Korean economy from 2023 to 2027. Since the 2020s, structural factors such as population reduction and aging will gradually slow South Korea’s economic growth, and by 2050, the per capita GDP growth rate will reach 1.3%. If productivity growth continues to remain at a low level of 0.7%, the growth rate will return to zero in 2050, barely avoiding negative growth.
  • The global manufacturing PMI was 49.4%, a month-on-month decline for five consecutive months.
  • Japan’s foreign exchange reserves decreased by US$43.4 billion, the decline narrowed month-on-month.
  • UK business activity contracted to its lowest level since January 2021. S&P Global released data showing that the UK services PMI fell to 48.8 in October from 50.0 previously, but it marked the biggest contraction in business activity since early 2021. At the same time, the UK composite PMI fell to 48.2 in October from the previous value of 49.1, higher than the initial value of 47.2, but also the lowest since January 2021.
  • Ukraine announced that foreign exchange reserves rose 5.5% in October.
  • Indonesia: GDP grew by 5.72% year-on-year in the third quarter of this year.