Trade alert

  • Strollers and frames: Turkey makes its third anti-dumping sunset review final. On January 6, the Ministry of Trade of Turkey issued Announcement No. 2023/1, making the affirmative final ruling of the third anti-dumping sunset review on baby carriages and baby carriage frames originating in China, maintaining the current anti-dumping duties unchanged, that is, baby Car tax is $12/piece, stroller frame tax is $8/piece, valid for 5 years. The Turkish tax codes of the products involved are 8715.00.10.00.00 and 8715.00.90.00.00.
  • MSC’s 8500TEU container ship ran aground on the breakwater of Gioia Tauro port in Italy.(MSC=Mediterranean Shipping Company S.地中海航运公司)

Trade

  • Uruguay: The Uruguay Investment and Export Promotion Agency predicts that Uruguay’s total exports of goods will reach US$12.985 billion in 2023, a slight decrease of 2% year-on-year. With the operation of the second UPM（芬欧汇川） pulp mill, UPM pulp exports will increase by 50% to US$2.606 billion in 2023, and will eventually surpass meat exports and become the largest export commodity.
  • German Federal Statistical Office: After calendar and seasonal adjustment, Germany’s export trade volume in November 2022 was 135.1 billion euros, a month-on-month decrease of 0.3%; import trade volume was 124.4 billion euros, a month-on-month decrease of 3.3%; foreign trade balance surplus was 10.8 billion euros .
  • According to recent data released by the Brazilian Ministry of Development, Industry and Trade, Brazil’s foreign trade will achieve a surplus of US$62.3 billion in 2022, an increase of 1.5% over 2021 and a record high. In 2022, Brazil’s foreign trade was total US$607.7 billion, an increase of 21.5% over 2021. Among them, the export value was 335 billion US dollars, an increase of 19.3% over 2021; the import value was 272.7 billion US dollars, an increase of 24.3% over 2021.

Industry -China

  • China Construction Machinery Industry Association: According to statistics from 26 excavator manufacturers, the total sales of excavators in 2022 was 261,300 units, a year-on-year decrease of 23.8%. Among them, 151,900 units were sold in the domestic market, a year-on-year decrease of 44.6%; export sales were 109,500 units, a year-on-year increase of 59.8%.
  • Ministry of Public Security: In 2022, the number of motor vehicles in the country reaches 417 million, including 319 million cars; the number of motor vehicle drivers reaches 502 million, including 464 million car drivers. The number of new energy vehicles reached 13.1 million, a year-on-year increase of 67.13%.
  • World Wide Web: On the opening day of centralized procurement of oral implant systems, the average selected price of the products to be selected dropped to more than 900 yuan, an average decrease of 55% compared with the median purchase price before centralized procurement. This centralized procurement gathers the needs of nearly 18,000 medical institutions across the country, accounting for about 72% of the annual number of dental implants in China (4 million pieces), and it is expected to save about 4 billion yuan in patient costs every year.
  • China Commercial Transport has 54 nuclear power units and 23 nuclear power units under construction. The scale of construction under construction continues to lead the world. From January to November 2022, China’s nuclear power generation capacity reached 378.04 billion kWh, accounting for about 5% of the power structure. By 2035, the proportion of nuclear power generation in China’s power structure will reach about 10%.

China

  • Ministry of Industry and Information Technology: In 2023, 13 key tasks must be grasped, including accelerating the development of the information and communication industry. Introduce policies and measures to promote the coordinated development of new information infrastructure construction, accelerate the construction of 5G and gigabit optical networks, start the construction of “broadband frontier”, and comprehensively promote the research and development of 6G technology.
  • Ministry of Commerce: Publish the list of pilot areas for domestic and foreign trade integration, including Beijing, Shanghai, Jiangsu, Zhejiang (including Ningbo), Fujian (including Xiamen), Hunan, Guangdong (including Shenzhen), Chongqing City, Xinjiang Uygur Autonomous Region.
  • 17 departments including the State Intellectual Property Office: Issued opinions on accelerating the high-quality development of the intellectual property service industry. By 2030, there will be more than 2,000 institutions above designated size engaged in intellectual property services, and the industry’s operating income will exceed 500 billion yuan. The number of personnel reached 1.5 million.
  • State Intellectual Property Office: By the end of 2022, China has 4.212 million valid invention patents, 9.4 high-value invention patents per 10,000 people, and 42.672 million valid trademark registrations, firmly establishing its status as a major intellectual property power.
  • Gong Zheng, Mayor of Shanghai: The main expected goal of the city’s economic and social development in 2023 is to increase the city’s GDP by more than 5.5%, and the local general public budget revenue to increase by 5.5%. We will implement the new version of the Catalog of Industries Encouraging Foreign Investment, and make every effort to stabilize the basic market of foreign trade and foreign investment. Guide foreign capital to invest more in advanced manufacturing, modern service industry, high-tech, energy conservation and environmental protection and other fields.
  • Statistics recently released by the State Administration of Foreign Exchange show that as of the end of December 2022, China’s foreign exchange reserves were US$3,127.7 billion, an increase of US$10.2 billion, or 0.33%, from the end of November.

Company

  • Apple: Since the App Store came out in 2008, it has accumulated more than 320 billion US dollars in revenue, and the revenue in 2022 hit a new high. In addition, in 2022, the number of users visiting the App Store hit a new high. The total number of App Store paid subscriptions exceeds 900 million.
  • Toyota: In 2022, new car sales in the Chinese market decreased by 0.2% from 2021 to 1.9406 million. It was the first time in 10 years that sales were lower than actual sales in the previous year.
  • Sensor Tower: In December 2022, Tencent’s “Honor of Kings王者荣耀” attract nearly 200 million US dollars in global AppStore and GooglePlay, and continue to top the global mobile game best-selling list. Revenue from the iOS market in China accounted for 94.4%, and revenue from overseas markets accounted for 5.6%.
  • GAC Aian广汽埃安: According to relevant national policies and regulations, the subsidy policy for the purchase of new energy vehicles end on December 31, 2022. After that, the state will no longer provide subsidies for vehicles that are licensed after that. Affected by the above factors, it is expected that the official guide price of its related models will be raised in early March this year, ranging from 3,000 yuan to 6,000 yuan.

World

  • Germany’s Agora Energy Transition Think Tank德国阿戈拉能源转型智库: Although Germany’s energy consumption in 2022 has fallen to its lowest level in more than 30 years, it has still failed to achieve its greenhouse gas emission reduction target for two consecutive years. One of the important reasons is the increase in the proportion of coal power generation. For the second year in a row, Germany missed its 40% reduction target.
  • European Union: 2022 is the second warmest year on record in Europe, after 2020.
  • The Central Bank of Russia: It will start buying RMB as a wealth fund reserve from January 13, and will buy RMB on the Moscow Exchange.
  • The Thai cabinet approved the budget for fiscal year 2024 on January 10, with a total amount of 3.35 trillion baht (approximately RMB 676.8 billion), an increase of 5.18% over the budget for fiscal year 2023. The Thai government expects total fiscal revenue in fiscal year 2024 to be 2.757 trillion baht, a year-on-year increase of 10.7%; the budget deficit is 593 billion baht (approximately RMB 119.8 billion), accounting for about 3% of the gross domestic product (GDP). The budget still needs to be approved by Congress.
  • Dubai: Efforts to build a global economic center. Recently, Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the new economic development plan “D33”. The 10-year plan will add billions of dirhams to Dubai’s income through 100 epoch-making projects. The goal is to double the economic volume by 2033 and make Dubai one of the top three countries in the world in terms of economic strength. It is an international city and ranks among the top four financial centers in the world.
  • The National Oceanic and Atmospheric Administration of the United States released a report stating that there were 18 extreme weather events in the United States last year that caused losses of more than US$1 billion, with a total loss of more than US$165 billion.
  • The World Bank released the latest “Global Economic Prospects” report, lowering the global economic growth forecast in 2023 to 1.7%, which is 1.3 percentage points lower than the forecast in June last year, the third lowest level in the past 30 years. In addition, the World Bank expects emerging markets and developing economies to grow by 3.4% in 2023, down 0.8 percentage points from previous expectations.