Trade alert

  • PET resin: Brazil ends anti-dumping measures. Recently, the Brazilian Foreign Trade Secretariat issued an announcement stating that since there is no evidence that the dumping of PET resin with an intrinsic viscosity of 0.70~0.88dl/g originating in Taiwan and Indonesia may continue or reoccur the damage to the domestic industry in Brazil, Therefore, it is decided not to extend the anti-dumping measures for the products involved in the above-mentioned countries and regions. The Mercosur tax codes of the products involved in the case are 3907.61.00 and 3907.69.00.


  • Vietnam: The first batch of passion fruit exported to China was cleared through the Friendship Pass(广西凭祥友谊关口岸) in Pingxiang, Guangxi. Recently, China’s first batch of imported Vietnamese passion fruit cleared customs at the Friendship Pass in Pingxiang, Guangxi. Friendship Pass is one of China’s main land-based fruit import ports. According to Chinese customs statistics, from January to October this year, 199,000 tons of Vietnamese fruits were imported through Friendship Pass, a year-on-year increase of 58.1%.


  • World Semiconductor Trade Statistics Organization: The size of the semiconductor market in 2023 will decrease by 4.1% year-on-year to US$556.5 billion. Compared with the previous expectation (year-on-year growth of 4.6%), it turned to negative growth for the first time in four years. The demand for semiconductors for consumer products such as smartphones and personal computers will decline, and the market size of storage semiconductors will also decrease significantly.
  • Canalys: In the third quarter, the overall global wearable wristband devices increased by 3.4% year-on-year, with shipments reaching 49 million units. Both Apple and Samsung launched new products this quarter, and the launch of their new smart watches helped them reach the No. 1 position, accounting for 20% and 10% of the market, up 37% and 16% year-on-year. Due to the impact of the shipment pace, Xiaomi ranked third, accounting for 9% of the market share. Noise, a local Indian brand, has a market share of 7%. Huawei also took fifth place with a market share of 7%.
  • Digitimes Research: The domestic smartphone market remained weak in the third quarter. In order to reduce channel inventory levels, domestic smartphone manufacturers continued to maintain conservative shipments, with a total of about 140 million units, a quarter-on-quarter decrease of 5.5% and a year-on-year decrease of 18.2%.

Industry China

  • China Securities Journal: In the context of high lithium carbonate market prices, many listed companies are eyeing sodium-ion batteries. The positive and negative current collectors of sodium-ion batteries are made of aluminum foil, and the cost of raw materials required is about 30% to 40% lower than that of lithium-ion batteries. With cost advantages, sodium-ion batteries are expected to continue to penetrate in large-scale energy storage and low-speed vehicles and other applications. The agency believes that by the end of 2022, sodium-ion batteries are expected to initially form an industrial chain. In 2023, sodium-ion batteries will start large-scale applications. In 2025, domestic demand for sodium-ion batteries will reach 58GWh, corresponding to 174,000 tons of sodium-ion battery cathode materials.
  • Shanghai Securities News: Because photovoltaic tungsten wire products have high industrial chain requirements and technical barriers, there are NOT many domestic enterprises with relevant production capacity at present, the market demand prospect is broad, and the profit margin is obvious. It is expected that in 2023, with the expansion of the large-size silicon wafer market and the further maturity of photovoltaic tungsten wire technology, sales will expand rapidly. The agency pointed out that under the background of the continued high price of silicon materials, the penetration rate of photovoltaic tungsten wire is rapidly increasing, and it is expected that the compound growth rate of the industry from 2022 to 2025 is expected to exceed 100%.
  • Huatai Securities: In the first four weeks of November, the cumulative number of domestic passenger car insurances was 1.427 million, an increase of 0.5% over the same period in October. The number of new energy vehicles insured in the first four weeks of November was 481,000, an increase of 17.6% compared with the first four weeks of October. Among them, the plug-in hybrid category showed a rising momentum, with 109,000 insureds in the first four weeks, +18.5% from the previous month , +128.4% year-on-year.
  • Guosen Securities: The automobile industry has entered the era of electric intelligence and is currently facing three major characteristics and five major changes. Feature 1. total dividend has been weakened, and the low growth rate of automobile sales has become normalized; Feature 2.the old and new production capacity has been switched, and the vehicle structure has changed; Feature 3.the new technology of electric intelligence is accelerating, and domestically produced vehicles and parts are facing huge opportunities. The five major changes are product attributes (travel tools to living space), production technology (integrated die-casting and other lightweight, integrated process changes), electrical and electronic architecture (centralized computing), cost structure (cost increase of automotive electronics and software), business Mode (like consumer electronics marketing mode).


  • National Development and Reform Commission: Since the full heating period, the supply of thermal coal in nationally-regulated power plants has remained high, exceeding the consumption of thermal coal for several consecutive days, and the coal stock has remained at a historically high level of around 175 million tons. The transportation order of the Daqin Railway was fully restored, and the daily coal transportation volume rose to the level of one million tons. Coal storage in Qinhuangdao Port continued to increase, reaching 5.82 million tons as of November 29.
  • Ministry of Finance: From January to October, the total operating income of state-owned enterprises was 6,6419.96 billion yuan, a year-on-year increase of 8.9%; the total profit was 3,619.69 billion yuan, a year-on-year decrease of 3.3%. At the end of October, the asset-liability ratio of state-owned enterprises was 64.5%, an increase of 0.2 percentage points.
  • Ministry of Finance: In October, China sold a total of 29.718 billion yuan of lottery tickets, a year-on-year increase of 1.1%. Among them, the sales of welfare lottery institutions were 10.991 billion yuan, a year-on-year decrease of 12.7%; the sales of sports lottery institutions were 18.727 billion yuan, a year-on-year increase of 11.4%. From January to October, a total of 310.959 billion yuan of lottery tickets were sold nationwide, a year-on-year increase of 1.0%.
  • Bureau of Statistics: In November, the manufacturing PMI was 48.0%, a decrease of 1.2 percentage points from the previous month; the non-manufacturing PMI was 46.7%, a decrease of 2.0 percentage points from the previous month; the comprehensive PMI output index was 47.1%, a decrease from the previous month 1.9 percentage points.
  • China Index Institute: From January to November, the total sales of TOP100 real estate companies were 6,726.81 billion yuan, a year-on-year decrease of 42.1%, and the decline rate was 1.3 percentage points lower than that of the previous month. . There are 19 real estate companies with sales exceeding 100 billion, a decrease of 16 compared with the same period last year; 100 real estate companies with sales exceeding 10 billion, a decrease of 51 compared with the same period last year.
  • Ministry of Industry and Information Technology: From January to October, China’s Internet and related service enterprises above designated size completed Internet business revenue of 1,223.5 billion yuan, a year-on-year decrease of 0.8%, a decrease of 0.1 percentage points compared with the previous three quarters; operating costs increased by 3.3% year-on-year, and the growth rate was higher than before In the third quarter, it fell by 0.6 percentage points; the total profit was 111.9 billion yuan, a year-on-year decrease of 11.1%, and the decline rate expanded by 2.8 percentage points compared with the previous three quarters.


  • Zhihu: The revenue in the third quarter was 912 million yuan, an increase of 11% year-on-year; the net loss was 300 million yuan, and the loss narrowed by 39% from the previous quarter. The income and proportion of paying members reached a new high, with income increasing by 88.1% year-on-year, accounting for 36.8%; the average monthly paying members reached 10.9 million, an increase of 99.5% year-on-year.


  • The Bank of Canada posted a loss of C$522 million in the third quarter, the first loss in the bank’s 87-year history.
  • Goldman Sachs: The Federal Reserve is expected to raise interest rates by 50 basis points in December. This round of interest rate hikes will end in the second quarter of next year. The final value of the federal funds rate is expected to be in the range of 5%-5.2%.
  • The Korean government released the fourth basic plan for space development (draft). By 2030, the space industry ecosystem will be cultivated, and a space and ground security support system will be independently established. By 2050, manned spacecraft will be sent into space, and the space industry will develop into one of the country’s top ten major industries.
  • EU: Imports of liquefied natural gas from Russia set a record. According to the British “Financial Times” report, in the first 10 months of this year, Russia’s LNG supply to European countries reached a record 17.8 billion cubic meters. According to the newspaper’s calculations, Russian LNG accounted for 16% of the total seaborne natural gas imports of European countries during the reporting period. Europe has also received 62.1 billion cubic meters of Russian gas via gas pipelines so far this year, suggesting it is not yet ready to abandon Russian gas entirely.
  • India: The digital rupee will be partially piloted. According to the “Times of India” report on November 29, the Reserve Bank of India (central bank) plans to start trial digital currency in the retail sector of four cities on December 1. The face value of the digital rupee is the same as the current banknotes and coins, and the local designated consumption Investors and designated stores can use this digital currency for payments between individuals or between individuals and stores.
  • South Korea: A think tank predicts that the country may experience “zero economic growth” in 2050. According to a recent report by Yonhap News Agency, the Korea Development Institute (KDI) predicts that the potential growth rate of the Korean economy in the next five years (2023 to 2027) will be 2%, and predicts that the growth rate of the Korean economy may drop to 0.5% in 2050, and warns that if it does not Promoting structural reform and productivity development, the growth rate may return to zero.
  • Japan: Formulate a five-year plan to increase the number of “unicorns” to a hundred. According to the “Nihon Keizai Shimbun” website report, Japan has recently formulated a five-year plan to increase the number of “unicorn” companies (unlisted companies with a valuation of more than US$1 billion) to 100, and will The fund supports related businesses. The new plan also proposes that the amount of investment in start-ups will increase from the current 800 billion yen (about 5.8 billion U.S. dollars) per year to 10 trillion yen in 2027.
  • Egypt: Received the United Nations Investment Promotion Award for the first time. According to a recent report by “Egypt Today”, the United Nations Conference on Trade and Development (UNCTAD) awarded the Egyptian General Authority for Investment and Free Zones (GAFI) the 2022 United Nations Investment Promotion Award in recognition of its contribution to promoting sustainable investment in Egypt’s agricultural and business sectors.