Trade alert

  • Canned peaches: New Zealand launched an anti-dumping investigation. Recently, the New Zealand Ministry of Business, Innovation and Employment issued an announcement stating that in response to an application submitted by a New Zealand canned peach manufacturer on August 31, 2022, the canned peaches originating in or imported from China with a total weight of no more than 5 kilograms were initiated. Anti-dumping investigation. The customs code of the products involved is 2008700900.

Trade

  • South Korea’s auto exports reached US$5.4 billion, a year-on-year increase of 31%, setting a new record for the first time in four months. Both export volume and export value have achieved double-digit growth for five consecutive months. The total auto exports in the first 11 months reached 48.7 billion U.S. dollars, and the annual export volume this year is expected to exceed the 50 billion U.S. dollar mark for the first time.
  • WTO: Ruling that U.S. steel and aluminum tariffs violate the rules. The expert group of the WTO dispute case “China v. U.S. Steel and Aluminum 232 Tariff Measures” recently released a report, ruling that the relevant U.S. measures violated WTO rules.
  • Russia: Announced a 35% tariff on some imports from “unfriendly countries”. This policy is valid until December 31, 2023. The goods involved include personal care products such as shampoo, conditioner, toothpaste and shaving cream and detergents imported from the US, UK, Canada, Australia and Poland. This tariff policy also applies to civilian weapons and ammunition imported from the above-mentioned “unfriendly countries”.
  • Vietnam: Textile and garment exports face difficulties in the first half of 2023. According to a recent report by “Vietnam Economic News”, the latest textile and garment industry outlook report predicts that due to the deterioration of the macroeconomic situation and the pressure on consumer spending, coupled with the continued inflation of the major export market in the United States, Vietnam’s textile and garment industry is expected to export. scaled down in the first half of 2023. Since October 2022, the retail sales of clothing and footwear in Vietnam’s main export markets have experienced negative growth, indicating that the country’s textile and clothing enterprises will face new challenges.

Industry

  • Counterpoint: It is predicted that the global smartphone market will grow by 2% year-on-year in 2023.
  • Recently, according to the National Retail Federation (NRF), container imports will drop by 15% in the first quarter of 2023. Meanwhile, the monthly forecast for January 2023 is 8.8% lower than in 2022, to 1.97 million TEU. This decline is expected to accelerate to 20.9% in February, at 1.67 million TEU.

China

  • Ctrip: From December 7th to 11th, domestic passenger traffic recovered to about 40% of the same period in 2019, and the overall search popularity has recovered to 80% before the epidemic. After the notification of the cancellation of the communication itinerary card was issued, from 00:00 to 13:00 on December 12, the search interest for products such as inter-provincial travel, transportation, and vacation during the Spring Festival travel season increased by 12 times compared with the same period last week, and the search volume for air tickets was basically the same as before the epidemic. . Up to now, the top five cities where the Spring Festival travel flights are most popular are: Shanghai, Beijing, Sanya, Shenzhen, and Chengdu.
  • The three major operators, China Telecom, China Unicom, and China Mobile, have successively stated that they will, in accordance with relevant laws and regulations, delete the data related to the user’s itinerary synchronously after the “communication itinerary card” service is offline at 00:00 on December 13, so as to ensure the security of personal information in accordance with the law. .
  • Bureau of Statistics: In 2022, the total output of summer grain, early rice and autumn grain in 31 provinces (autonomous regions and municipalities) will reach 1,373.1 billion catties, an increase of 7.4 billion catties or 0.5% over the previous year, setting a new high. This is also the eighth consecutive year that the total grain output has remained above 1.3 trillion catties. Among them, the grain output was 1,266.5 billion catties（6332.5billion kg）, an increase of 1 billion catties over the previous year.
  • China is rapidly entering the newbuild LNG tanker market as Korean shipyards are filled with orders and local and foreign shipowners are turning to other shipyards for purpose-built vessels. Three Chinese shipyards have won nearly 30 percent of orders for 163 new gas carriers this year, a record order.
  • The first global digital trade fair opens. On December 11, the first four-day Global Digital Trade Expo opened in Hangzhou, Zhejiang, attracting more than 800 digital trade companies from home and abroad to participate.

Company

  • On December 10, PICO, a VR technology company under ByteDance, officially opened its first flagship store in the Klang Valley Center of Malaysia, which became another milestone for VR domestic products to go overseas. With the help of cost-effective, high-quality and branding, domestic VR products have recently become popular among overseas consumers. From 2021 to 2026, the compound annual growth rate of China’s AR/VR market will reach 42.2%.
  • Air India is close to ordering as many as 500 jetliners from Airbus and Boeing worth tens of billions of dollars. The orders include 400 narrow-body planes and more than 100 wide-body planes, including dozens of Airbus A350s and Boeing 787s and 777s.
  • Samsung Electronics Foundry Department: By 2026, the global semiconductor 3nm process wafer foundry market will increase by more than 20 times from this year’s US$1.2 billion.
  • Fomalhaut Techno Solutions: According to the dismantling report of Samsung’s latest folding machine Galaxy Z Fold 4, the cost of its components is estimated at $670, which is less than 40% of the sales price and 46% of the hardware cost of the iPhone 14 Pro Max.
  • Wal-Mart: On Black Friday, the sales of Wal-Mart’s international sellers climbed nearly 8 times, and the number of products sold and orders increased by more than 6 times; It has risen more than 5 times.
  • eBay: Recently, eBay officially launched the Green Monday (Green Monday) promotion (the second Monday in December). Created in 2007, the event is one of eBay’s biggest sales days of the year and one of the most important online shopping days in the retail industry.
  • Evergreen Marine announced its results, and its revenue fell 29.29% year-on-year. Recently, Evergreen Shipping announced its results. In November this year, it achieved operating income of NT$36.094 billion (approximately US$1.148 billion), a year-on-year decrease of 29.29% and a month-on-month decrease of 20.93%.
  • Tata Group plans to open 100 Apple stores in India. On the 12th, according to the Indian Economic Times, Croma, an electronic product chain store owned by Infiniti Retail, a subsidiary of the Tata Group, will become an Apple authorized distributor and open 100 stores in shopping malls, commercial streets and other places to exclusively sell Apple products. Stores are between 500-600 square feet.
  • Lululemon announced its results, with net revenue of $1.9 billion in the third quarter, an increase of 28% compared to the same period last year. Profit rose to $255.5 million. In the third quarter, 23 new stores were opened, and by the end of the third quarter, it had 623 stores worldwide.

World

  • South Korea: South Korea’s Ministry of Food and Drug Safety recently warned South Korean pharmaceutical companies of an impending disruption to the production and supply of domestic cold medicines. Since the import of raw materials for cold medicines such as antipyretics may soon encounter difficulties, it is believed that it is necessary to preemptively prevent the interruption of the production and supply of cold medicines. Companies are urged to secure raw materials (for cold medicine) and ensure there are no shortages.
  • President of the European Commission von der Leyen: Although the EU has taken many measures on the natural gas issue, it may still face a natural gas gap of about 30 billion cubic meters next year.
  • German Federal Statistical Office: In October, the production price of agricultural products rose by 37.9% compared with the same period last year, of which plant products rose by 26%, and the production price of animal products increased by 46.8%. In October, grain prices in Germany rose by 33.8% year-on-year, and prices of animal husbandry products rose sharply. Among them, the price of milk rose by 56.3% year-on-year, and the price of eggs rose by 35.7% year-on-year.
  • British Financial Times: Scientists have made a breakthrough in the field of nuclear fusion, and the US Department of Energy plans to announce this major milestone on Tuesday local time. It is reported that scientists at the Lawrence Livermore National Laboratory in the United States have made a breakthrough in the research of controllable nuclear fusion, realizing for the first time the net energy gain of the fusion reaction, that is, the energy produced is more than the energy injected.
  • German Chancellor Scholz: The government plans to ease the manpower shortage and the crisis of the pension system by accepting a large number of immigrants.
  • Germany: The economy grew by 0.4% quarter-on-quarter in the third quarter.
  • US: The Fed is expected to raise interest rates again in mid-December.
  • Greece: Lowered economic growth forecast for this year and next. The Greek Ministry of Finance recently submitted the final version of the 2023 budget draft to the parliament. It is expected that the Greek economy will grow by 5.6% this year and 1.8% in 2023.
  • Indonesia raised the minimum wage by about 7.5% in 2023. Among them, the region with the highest minimum wage standard is the Jakarta Special Administrative Region, reaching 4.9 million rupiah (about 314 U.S. dollars), an increase of 5.6%; the lowest is Central Java Province, which is 1.96 million rupiah (about 126 U.S. dollars). The increase is 8.01%.