Trade alert

  • Pneumatic radial tires: India terminates anti-dumping measures. On December 19, the Ministry of Commerce and Industry of India issued an announcement saying that the Ministry of Finance of India recently issued an office memorandum, not accepting its final ruling on anti-dumping sunset review on September 16, 2022 on pneumatic radial tires originating in or imported from China. , decided not to continue imposing anti-dumping duties on the products involved in China.

Trade

  • United States: Extend tariff exemptions for Chinese imports. On December 16 local time, the Office of the United States Trade Representative stated that it will continue to extend the “Section 301” tariff exemption for 352 Chinese imports, and postpone the expiration date of the exemption to September 30, 2023. According to Hong Kong’s China News Agency, the Chinese goods exempted from tariffs include industrial components such as pumps and electric motors, as well as auto parts, chemicals, bicycles and vacuum cleaners.
  • American research firm Descartes Datamyne: In November, the volume of ocean container shipments from Asia to the United States was 1,324,600, a year-on-year decrease of 21%. It has decreased for 4 consecutive months, and the rate of decline is larger than that in October. Shipments of consumer goods such as furniture and toys have both decreased by more than 10%.
  • Brazil’s small cross-border imports have increased by a hundredfold in 10 years. Recently, according to data from the Central Bank of Brazil, the amount of small-value imported goods in the country has increased by a hundredfold in the past ten years. In 2013, this figure was $83 million, and by September 2022, this figure will jump to $8 billion. According to marketing management brand Sortlist, Brazilians spend about ten hours a day on the internet.
  • The Russian container market fell by 13.5% in November. Recently, FESCO Transportation Group stated that in the first eleven months of 2022, the Russian container market fell by 15.6% compared with the same period in 2021, to 5.006 million TEUs. Among them, the Russian container market in November fell by 13.5% to 461,000 TEUs in November 2021.

Industry

  • EU: Agreement on natural gas price cap to be capped at €180 per MWh. The price limit mechanism will start on February 15, 2023.
  • Chairman of the Moscow Exchange: In November, the RMB accounted for 48% of the spot and swap transactions in the Moscow Exchange foreign exchange market, compared with 0.2% at the beginning of the year. It is expected that the first batch of RMB securities unit investment trust funds of trust companies will appear.
  • Vietnam: The total volume of imports and exports of goods exceeded the US$700 billion mark. In the first 11 months of 2022, Vietnam’s trade surplus reached US$10.68 billion; foreign direct investment (FDI) enterprises’ total import and export volume was US$468.7 billion, a year-on-year increase of 12.1%. For many years, the United States has been the largest export market for Vietnamese goods, while China is the largest import market for Vietnamese goods, the General Administration of Customs said.

Industry-China

  • According to data from the Ministry of Industry and Information Technology, China has formed 22 categories of construction machinery products, becoming one of the countries with the most complete product categories and varieties. Among them, the output of major products such as excavators, cranes, and loaders ranks first in the world. According to the statistics of 26 excavator manufacturers by the China Construction Machinery Industry Association, in the first 10 months of 2022, China exported 89,457 excavators, a year-on-year increase of 67.3%. In addition, in the first 10 months of this year, China’s construction machinery exports amounted to US$36.521 billion, a year-on-year increase of 34.2%.
  • Ministry of Industry and Information Technology: As of the end of October, a total of 110 cities across the country have reached the Gigabit city construction standard, accounting for about one-third of all prefecture-level cities. Among them, 29 Gigabit cities will be built in 2021, and 81 Gigabit cities will be built in 2022. 41 Gigabit cities have been built in the eastern region, 29 Gigabit cities in the central region, and 40 Gigabit cities in the western region.

China

  • Ministry of Finance: From January to November, the national general public budget revenue was 18,551.8 billion yuan, a decrease of 3% on a natural basis. The national general public budget expenditure was 22,725.5 billion yuan, a year-on-year increase of 6.2%. The stamp duty on securities transactions was 254.9 billion yuan, a year-on-year increase of 3%.
  • State Food and Drug Administration: At present, there are 194 kinds of antipyretic（退热）, cough（止咳）, antibacterial（抗菌）, and antiviral drugs（抗病毒） on the market in China, involving more than 9,000 approval numbers. At present, ibuprofen（布洛芬） and acetaminophen （对乙酰氨基酚）preparation companies are gradually releasing production capacity. In addition, the raw material drug production capacity of ibuprofen and acetaminophen in China is relatively sufficient, which can meet the domestic demand for preparation production.
  • Ministry of Finance: From January to November, the national government fund budget revenue was 6,016.1 billion yuan, a year-on-year decrease of 21.5%. Central government fund budget revenue was 385.4 billion yuan, a year-on-year increase of 4.9%; local government fund budget revenue was 5,630.7 billion yuan, a year-on-year decrease of 22.8%.
  • The State Council: Agreed to carry out a comprehensive pilot project of expanding the opening up of the service industry （服务业综合试点）in Shenyang, Nanjing, Hangzhou, Wuhan, Guangzhou, and Chengdu. The pilot period is 3 years from the date of approval.

Company

  • CATL（宁德时代）: A joint venture project signing ceremony was held with Changan Automobile in Chongqing. The establishment of the joint venture company will take the opportunity of Times Changan to further realize complementary advantages, collaborative cooperation, and symbiosis of value. CATL will help Changan Automobile （长安汽车）build world-leading product competitiveness.
  • Almaden（常州亚玛顿）: Recently, it signed a “Strategic Cooperation Agreement” on photovoltaic glass with JA Solar（晶澳科技）. It is planned to sell photovoltaic glass（光伏玻璃） to JA Solar from January 1, 2023 to December 31, 2025. The estimated total contract amount is about 6 billion yuan (including tax), and the average annual sales account for 2021 audited operating income. About 90%.
  • NIO(蔚来汽车）: Received an external email claiming to have internal data of NIO and extorted $2.25 million in bitcoins with the leaked data. After investigation, the stolen data was some basic user information and vehicle sales information before August 2021.
  • NIO: The first NIO center in Germany opened in Berlin. In addition to displaying new cars, the NIO Center will also create a comfortable communication environment for local users, provide creative coffee, food, yoga classes, art appreciation and other exciting activities. It is reported that NIO plans to open more user centers in Hamburg, Frankfurt, and Dusseldorf, Germany next year.
  • Tesla: As soon as this Friday, it will officially announce its plan to build a super factory in the state of Nuevo Leon in northern Mexico. The initial investment of the plan is 800-100 million U.S. dollars, and the investment may eventually reach 10 billion U.S. dollars. It is reported that the factory will initially produce auto parts for Tesla’s models, and then produce electric vehicles.
  • Shopee Singapore: 8% Goods and Services Tax will be added from next year. From January 1, 2023, goods arriving in Singapore from overseas by air/mail/sea will be subject to 8% goods and services tax.
  • Loctek(乐歌股份）: The Lege 1800T container ship was launched at the Yellow Sea Shipyard. The ship was planned and built by Lege during the peak of sea freight last year. The proposed investment is 32.6 million US dollars (equivalent to RMB 207 million). The ship is positioned as a fast ship according to its sailing speed .
  • Adobe announced its results, with revenue up 10% year-over-year.

World

  • Germany: Inflation was 10% in November.
  • Japan: According to the population dynamic statistics of the Japanese Ministry of Health, Labor and Welfare, the number of babies born from January to
  • October this year has decreased by 4.8% compared with the same period last year. It is estimated that the estimated number of newborns in 2022 will fall below 800,000 for the first time.
  • Indonesia: Central bank predicts inflation will fall to 1.5%-3.5% in 2024.