Trade alert

  • Fiberglass mesh fabrics: EU launches second anti-dumping sunset review investigation. Recently, the European Commission issued an announcement saying that it initiated the second anti-dumping sunset review investigation on glass fiber mesh fabrics originating in mainland China. The dumping investigation period in this case is from July 1, 2021 to June 30, 2022, and the damage investigation period is from January 1, 2019 to the end of the investigation period. The EU CN codes of the products involved are ex 7019 63 00, ex 7019 64 00, ex 7019 65 00, ex 7019 66 00 and ex 7019 69 90.

Trade

  • South Korea: Adjust the combined tax standard for overseas direct purchases. According to the Korea Customs Service, the Korea Customs will adjust the combined taxation standard of overseas direct-shopping items from November 17, and will no longer consolidate tax on“two or more overseas direct-shopping items purchased by the same person on the same entry date”.
  • Germany: Imports from China rose 35% to 16.8 billion euros in September. According to data from the German Federal Statistical Office cited by the German “Hands Daily” website, Germany’s total exports in September totaled 142.1 billion euros, a year-on-year increase of 20.2%. The main export commodities are automobiles and auto parts and pharmaceutical products. In September, Germany’s total imports exceeded 134 billion euros, a year-on-year increase of 31.3%, of which imports from China increased by 35% to 16.8 billion euros. China is still Germany’s most important source of imports.
  • Bolivia: Lift temporary export restrictions on beef and sugar. According to Bolivia’s “People’s Daily” report on November 16, Bolivian production and development minister Huanca said that after ensuring the domestic market supply, the country’s government resumed the export of soybeans and their products on October 31, and resumed beef on November 7. Exports, sugar exports resumed on November 9.
  • Iceland: Plan to remove restrictions on the number of electric vehicle tax incentives. According to the Icelandic “Morning News” on November 16, the Icelandic Minister of Finance and Economy submitted a bill, which includes legal amendments to the tax incentives for electric vehicles and hydrogen fuel vehicles, canceling the original value-added tax incentives “valid until In 2023, cover the 20,000-car” quantity limit. After the revision, there is no longer a limit on the number of electric vehicles that can enjoy tax incentives.
  • Peru: Officially lift trade sanctions imposed on Colombia. Peruvian Foreign Trade and Tourism Minister Sanchez announced on November 16, local time, that since Peruvian rice has been able to enter the Colombian market normally, Peru has officially lifted the trade sanctions imposed on Colombia and lifted import tariffs on 10 Colombian products.
  • From January to October, the bilateral trade in goods between China and the United States reached US$639.83 billion, a year-on-year increase of 5.1%, of which exports to the United States increased by 6.6%.
  • Uzbekistan: There are 2,099 Chinese companies registered in the country. According to recent news from the National Statistics Committee of Uzbekistan, as of November 1, there were 15,153 foreign companies in Ukraine, an increase of 1,870 or 14.1% year-on-year. In the past five years, the number of foreign companies in Ukraine has increased by 2.3 times. As of November 1, there were 2,099 Chinese companies in Ukraine, ranking third. From January to October, Uzbekistan added 218 Chinese enterprises.
  • E-commerce transactions in Turkey reached 348 billion liras. Between January and June, the country’s e-commerce transaction volume increased by 116% compared to the same period last year to 348 billion lire. In the first half of this year, orders increased by 38%, from 1.064 billion to 2.024 billion units.

Industry

  • At 0:00 on November 21st, Beijing time, the opening match of the 2022 Qatar World Cup kicked off, with the host Qatar VS Ecuador. From the opening match of the day to the final at 23:00 on December 18, the 2022 Qatar World Cup will last for 29 days, including 23 match days, 6 rest days, and a total of 64 matches in 8 stadiums. According to Ctrip data, from November 14 to 20, the price of international air tickets to Qatar increased by 54% from the previous week. Qatar’s local hotel bookings increased by 291% year-on-year, and the average booking price increased by 459% year-on-year. From November 20 to December 18, Qatar’s local hotel bookings increased by 352% year-on-year, and the average hotel booking price increased by 810% year-on-year.
  • Qatar 2022 World Cup, Qatar threw 220 billion US dollars (almost 5 times the sum of the previous 7 World Cup fees), and the total prize money reached a record 440 million US dollars. The prize money for the first place is US$42 million, an increase of US$4 million over the previous year; the prize money for the runner-up is US$30 million, the prize money for the third place is US$27 million, and the prize money for the fourth place is US$25 million, even more than the 2006 championship prize money. The sponsorship of Chinese companies in this World Cup is nearly 1.4 billion US dollars, making it the largest sponsor of this World Cup, an increase of 70% compared with the US$800 million sponsorship of the last World Cup in Russia, a record high.
  • The Qatar 2022 World Cup is quite special, it is the first winter World Cup in the northern hemisphere
  • South Korea’s Ministry of Land, Infrastructure and Transport: As of the end of October, a total of 1.515 million new energy vehicles were registered in South Korea, a year-on-year increase of 38.3%. The proportion of new energy vehicles in the total registered vehicles rose to 5.96%. Among all the new energy vehicles, the number of hybrid vehicles was 1.121 million, a year-on-year increase of 29.6%; the number of electric vehicles and hydrogen energy vehicles was 365,000 and 27,000, a year-on-year increase of 72.7% and 54.3%. These three models accounted for 4.42%, 1.44% and 0.11% of the total registered vehicles respectively.
  • A few days ago, data released by the China Shipbuilding Industry Association showed that from January to October, China’s shipbuilding completions, new orders and hand-held orders accounted for 45.8%, 54.3% and 48.7% of the global total, respectively, in terms of deadweight tons. Rank in the forefront of the world. Among the 18 major ship types in the world, China ranks first in the world in terms of new orders received for 10 types of ships.

China

  • Ministry of Industry and Information Technology: At the opening ceremony of the 2022 China 5G+ Industrial Internet Conference, the Ministry of Industry and Information Technology held a release ceremony for the full completion of the Industrial Internet Identification Analysis System-National Top Node, which marks the full completion of the top-level structure of China’s Industrial Internet Identification Analysis System. At present, the total number of logo registrations has exceeded 200 billion, an increase of 170% over the same period last year. In addition to the full completion of the “5+2” national top-level nodes, 247 secondary nodes have been launched, of which 79 will be added this year, and 31 provinces, autonomous regions and municipalities across the country will be fully covered within this year.
  • On November 20, ICBC began to issue the first batch of specific retirement savings products in five cities including Guangzhou, Qingdao, Hefei, Xi’an and Chengdu. The specific retirement savings products launched this time include three types: lump-sum deposit and withdrawal, partial deposit and lump-sum withdrawal, and lump-sum deposit and zero-withdrawal, covering four terms of 5 years, 10 years, 15 years and 20 years.
  • Shenzhen Customs: In the first 10 months, the import and export container throughput of Shenzhen Port reached 22.42 million TEUs, and the import and export trade value reached 3.52 trillion yuan, a year-on-year increase of 32.3%, of which the export trade value reached 3.22 trillion yuan, both hitting a record high . With the official entry into force of the Regional Comprehensive Economic Partnership Agreement for the ten ASEAN countries, the tariff cost of goods exported to the ten ASEAN countries has been further reduced. From January to October, the total import and export volume of Shenzhen Port to the ten ASEAN countries was 630.5 billion yuan, an increase of 70.7%. (ASEAN=Association of Southeast Asian Nations, which founded in Bangkok, Thailand on August 8, 1967, it has 10 member countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.)

Company

  • On November 19, local time, Twitter showed that the Twitter account of former US President Trump has been officially unblocked. Earlier, Musk voted on Twitter on whether to restore the account of former US President Trump. As of the end of the poll, the survey had more than 15 million votes, and 51.8% of voting users supported Trump’s return to Twitter. After the vote, Musk said he would restore Trump’s Twitter account.
  • Qualcomm: The slow growth of most electronics markets is mainly due to external factors such as inflation, and with the overstocking of inventories, a recovery will not be seen until at least the second half of 2023. Qualcomm needs to go from a communications company to an interconnected company, promoting interconnected processing capabilities in areas including PCs, virtual reality, and autonomous driving as a priority area of ​​focus.
  • On November 17, local time, a California startup company announced that it has launched a full-size electric aircraft and plans to gradually mass-produce it, commercializing the “flying” in the air as early as 2025. The company has partnered with United on an “airline” route from Newark International Airport in New Jersey to downtown New York City. The cost per passenger is about $6 per mile, or about 43 yuan.
  • Economic Observer: In the Chinese market, the waiting time for the iPhone 14 Pro and iPhone 14 Pro Max has been extended from the previous 4-5 weeks to 5-6 weeks. Apple’s official website shows that if you place an order now, the estimated delivery time of the iPhone 14 Pro and iPhone 14 Pro Max is from December 27, 2022 to January 3, 2023, and users will wait for more than one month.
  • Cainiao(菜鸟) announced that it will establish an express logistics brand in Brazil. Recently, Cainiao announced its 3-year development plan for Brazil for the first time, and will establish an express logistics brand in Brazil covering more than 1,000 cities in 26 states and 1 federal district. Up to now, Cainiao Express’s warehouse and distribution network has covered the entire territory of Brazil. After local orders are placed, they are delivered within 2-3 days on average, and core cities such as Sao Paulo can achieve next-day or even next-day delivery.
  • The port of Hamburg handled 91.8 million tons of seaborne cargo in the first nine months. Recently, the Port of Hamburg released data that the maritime industry handled 91.8 million tons of seaborne cargo in the first nine months. Compared with the previous year, this figure decreased by 4.3%. Throughput of bulk cargo was particularly affected, falling 7.4% to 27.5 million tonnes.
  • ZIM（以星）announced its results, with a year-on-year increase of 43.2% in net profit. Recently, ZIM released its financial report for the third quarter of 2022. In the first three quarters of this year, the volume of containers carried by E-Star reached 2.557 million TEU, a year-on-year decrease of 2.5%; the operating income was US$10.373 billion, a year-on-year increase of 42.8%. Net profit reached US$4.212 billion, a year-on-year increase of 43.2%.
  • Starbucks reported fourth-quarter results, with revenue up 3%. A few days ago, the chain coffee brand Starbucks announced its results for the fourth quarter of fiscal year 2022 (July-September 2022), with revenue during the period of US$8.41 billion, a year-on-year increase of over 3%; net profit of US$878 million, a year-on-year decrease of about 50% . Global same-store sales rose 7%, beating market expectations.
  • Recently, Alibaba announced its results for the second quarter of fiscal 2023. Revenue was 207.18 billion yuan, a year-on-year increase of 3%; adjusted net profit was 33.82 billion yuan, a year-on-year increase of 19%. The cloud business revenue was 20.76 billion yuan. Ali’s local life business revenue was 13.073 billion yuan, a year-on-year increase of 21%.

World

  • On November 20, local time, the 27th Conference of the Parties to the United Nations Framework Convention《联合国气候变化框架公约》 on Climate Change reached a comprehensive climate agreement at its closing plenary meeting. Earlier in the day, the Conference of the Parties agreed to create a fund to help developing countries hit by climate disasters.