Industry

  • In recent years, the pet consumer market has shown great vitality in China, and the scale of the industry has continued to expand. Various industrial chains covering the entire life cycle of pets have been formed. During the “Double 11” period this year, the sales of pet food and supplies reached 3.12 billion yuan, a year-on-year increase of 13.6%. However, the pet economy, such as pet trading, pet food supplies, and pet hospitals, poses challenges to supervision. Issues such as how to protect the rights and interests of consumers and how to ensure the safety of pets themselves are urgently needed to be resolved.
  • The scale of China’s new display industry continues to expand, and the annual production capacity of display panels has reached 200 million square meters, which strongly supports the application of smart phones, TVs, monitors, notebook computers, tablet computers and other fields.
  • According to the Global Data report, by 2022, the hot beverage market in the Asia-Pacific region will increase from US$159.3 billion in 2017 to US$215.9 billion, with a compound annual growth rate of 6.3%.
  • EU member states reached an agreement on December 2, agreeing to set a price cap of US$60 per barrel for crude oil exported by sea from Russia.

China

  • National Bureau of Grain and Material Reserves: As of November 30, various grain enterprises in major production areas have purchased 70.35 million tons of autumn grain, a year-on-year increase of 5.37 million tons, and the progress of purchases is significantly faster than the same period last year.
  • According to data from the National Bureau of Statistics, in 2021, there are 7.643 million marriage registrations in China, and the number of first marriages in China is 11.578 million. This is also the first time in years that the number of first marriages has fallen below 12 million, the lowest level since 1985. In terms of provinces, the number of first-time marriages in Guangdong ranks first with 987,400, and Henan ranks second with 921,200.

Company

  • Ultium Cells LLC, a joint venture between General Motors and LG New Energy, announced that it will invest an additional US$275 million in the Spring Hill battery plant in Tennessee to increase the battery production of the plant by more than 40%. From 35GWh to 50GWh.
  • According to a report released by the Imperial Database Corporation of Japan, 21 Japanese companies went bankrupt due to the depreciation of the yen from January to October, of which 19 were from August to October. The number of Japanese companies that have gone bankrupt due to the depreciation of the yen this year is likely to exceed the 22 in 2019, the most in the past five years. The surge in bankruptcies has been concentrated in the food and fiber industries.