Trade alert

  • Vitamin A palmitate维生素A棕榈酸酯: India launched an anti-dumping investigation. On December 29, 2022, the Indian Ministry of Commerce and Industry issued an announcement stating that an anti-dumping investigation on vitamin A palmitate originating in or imported from China, the European Union and Switzerland was initiated upon the application submitted by Indian domestic companies. This case involves products under Indian customs code 29362100 and some products under 29362290, 29362800, 29369000, 29362690 and 29362990.

Trade

  • Croatia: officially joined the Eurozone and the Schengen Area, becoming the 20th member state of the Eurozone and the 27th member state of the Schengen Area.
  • Indonesia: On January 2, RCEP officially came into effect. Indonesian companies can apply for preferential tax rates through certificates of origin or declarations of origin.
  • Bosnia and Herzegovina: In 2023, tariffs on 63 commodities in multiple industries will be reduced, covering textile, footwear, chemical, metal, food, printing and electrical industries.
  • The trade volume between Russia and Japan reached 2.365 trillion yen.

Industry

  • The Elec: The price of neon gas used in wafer fabrication or semiconductor production skyrocketed 20 times in 2022, but the current price has dropped from a peak of 30 million won/47 liters to 5 million won/47 liters. Prices are likely to fall further as South Korean chipmakers increase their use of gas from China and local suppliers.
  • Economic View (中新经纬) : Affected by multiple factors such as the shortage of automotive chips, the epidemic and economic stagflation, the local sales of Korean OEMs in 2022 hit the lowest level in nine years, but with the recovery of overseas demand, the overall sales will increase. Last year, the domestic sales of the five major automakers fell by 3.1% year-on-year to 1,388,476 vehicles, the lowest level since 2013. Overseas and overall sales increased by 5.7% and 4% year-on-year respectively.

Industry-China

  • China Business News: According to the monitoring of the Consumer Market Big Data Laboratory (Shanghai)消费市场大数据实验室（上海）, a total of 12.01 billion yuan was spent offline in Shanghai during the first two days of the new year, a month-on-month increase of 5.6%; online consumption was 10.98 billion yuan, a year-on-year increase of 43.7%. The passenger flow of major commercial complexes increased by 82.0% month-on-month. Among them, household appliances, needle textiles and building materials have a good year-on-year growth trend, with an increase of 1.7 times, 46.1% and 45.1% respectively.
  • Meituan美团: New Year’s Day holiday consumption data show that the life service industry is picking up speed, and the average daily consumption scale has increased by 75% year-on-year in 2019. Among them, the consumption scale of Guangdong, Jiangsu, Beijing, Zhejiang, Shanghai, Sichuan and other places ranks in the forefront of the country. Week-on-week consumption in different cities(PS: live in A city, consume for families who live in B city) increased by nearly 50%.
  • Development and Reform Commission: From 24:00 on January 3, domestic gasoline and diesel prices will increase by 250 yuan and 240 yuan per ton respectively. No. 92 gasoline is raised by 0.2 yuan/liter, No. 95 gasoline and No. 0 diesel oil are raised by 0.21 yuan/liter and 0.2 yuan/liter respectively. Based on the fuel tank capacity of 50 liters, it will cost about 10 yuan more to fill up a tank of fuel. This round of refined oil price adjustment is the first refined oil price adjustment in 2023, the first increase this year, and at the same time ended the three-game losing streak at the end of 2022.
  • China National Railway Group: The goal is to complete the delivery of 2.69 billion passengers in 2023, a year-on-year increase of 67.6%; the delivery of goods is 3.97 billion tons, a year-on-year increase of 1.8%; put into operation more than 3,000 kilometers of new lines, including 2,500 kilometers of high-speed rail; complete transportation revenue of 817.5 billion Yuan, a year-on-year increase of 123.9 billion yuan, an increase of 17.9%, and the overall return to the level of 2019.
  • Goldman Sachs Group recently raised its forecast for China’s economic growth in 2023 from 4.5% to 5.2%. Its research department believes that the consumer sector is expected to become a bright spot in China’s economic growth in 2023.

Company

  • According to data released by SIPG上港集团, the container throughput of Shanghai Port in 2022 will exceed the 47.3 million TEU (TEU) mark, ranking first in the world for the 13th consecutive year.
  • Bohai Ocean (Hebei) Transportation Co., Ltd. was established recently, positioned as an investor, developer and operator of shipping and related industries, with supply chain logistics, shipping transportation, bulk cargo trade, and shipping industry services as its main business directions.
  • Tesla: In the fourth quarter of 2022, more than 439,000 vehicles were produced and more than 405,000 vehicles were delivered; in 2022, 1,369,600 vehicles were produced, a year-on-year increase of 47%; 1,313,900 vehicles were delivered for the whole year, A year-on-year increase of 40%; the delivery volume of MODEL S/X in the fourth quarter was 17,100 vehicles, which was estimated to be 18,600; the delivery volume of MODEL 3/Y in the fourth quarter was 388,100 vehicles, which was estimated to be 405,600 vehicles.
  • SpaceX: Raising US$750 million in new funding round at a $137 billion valuation.
  • Nearly 30 Chinese companies announced or expressed their intention to go public on the Swiss Exchange.
  • Secoo Group(寺库集团): In the first half of the year, its revenue was 1.1643 billion yuan, a decrease of 23.69% from 1.5256 billion yuan in the same period in 2021; its GMV was 3.2998 billion yuan, a decrease of 34.4% from 5.0278 billion yuan in the same period last year. (GMV=Gross Merchandise Volume, gross merchandise volume)
  • Gome（国美电器） announced that it has received a bankruptcy liquidation application.

World

  • Statistics Canada released data: In October 2022, Canadian manufacturing sales were 72.6 billion Canadian dollars, a month-on-month increase of 2.8% and a year-on-year increase of 16.5%. 12 of the 21 industries within the scope of the statistics increased their sales, among which other manufacturing industries (13.3%), petroleum and coal (12.7%), chemical industry (4.9%) and food (2.9%) had higher growth rates. Wait.
  • Canada: Beginning Jan. 1, foreigners will no longer have the right to buy a home in Canada for two years in an effort to address the country’s housing and apartment shortage. Refugees and permanent residents are not expected to be affected by the ban, and the law only applies to urban housing, not tourist facilities such as summer houses.
  • Vietnam: HSBC predicts the country’s economic growth will be around 5.8% in 2023.
  • Singapore: Manufacturing output down 3.2% year-on-year in Nov 2022. According to estimates released by the Singapore Economic Development Board, if the biomedical manufacturing industry is not included, Singapore’s overall manufacturing output value fell by 4.8% year-on-year. On a seasonally adjusted basis, in November, manufacturing output fell by 1.2% month-on-month, and the decline widened to 6% if the biomedical manufacturing industry was excluded.
  • Philippines: Economic development and investment return to pre-pandemic year’s levels.
  • EU: Raw material self-sufficiency target will be introduced. The EU’s supply concerns are not just about rare metals such as rare earths, but also extend to familiar metals such as aluminum and copper, which are considered “strategic” because of their ubiquity.
  • Italy: E-commerce sales reached 181 million euros in November 2022. According to the latest report released by NielsenIQ, from January to November 2022, Italy’s e-commerce sales reach 1.8 billion euros, a year-on-year increase of 16.2%. Among them, e-commerce sales in November were 181 million euros, a year-on-year increase of 10.3%. Among them, the pet and personal care categories are driving the growth of e-commerce in Italy.