Trade alert

  • H-beams and I-beams(Universal Beam,H型钢 & I型钢): Indonesia continues to implement safeguards. Recently, the WTO Committee on Safeguards issued a notification on safeguards submitted by the Indonesian delegation. On December 2, 2022, the Indonesian Ministry of Finance issued Decree No. 169/PMK.010/2022, deciding to extend the safeguard tax on imported H-beams and I-beams for two years. The Indonesian tax codes of the products involved are ex.7228.70.10 and ex. 7228.70.90.

Trade

  • Uruguay: According to data from the Uruguay Exporters Union, Uruguay’s total exports in 2022, including the free trade zone, were US$13.356 billion, a year-on-year increase of 16.5%, a record high. According to Ukrainian Customs data, China continued to be the largest buyer of Ukrainian goods in 2022, but the total amount only increased by 1% year-on-year, and soybeans increased the most.
  • China: In 2022, the total value of import and export of goods trade was 42.07 trillion yuan, an increase of 7.7% over 2021, exceeding 40 trillion yuan for the first time. Among them, exports were 23.97 trillion yuan, an increase of 10.5%; imports were 18.1 trillion yuan, an increase of 4.3%. On the basis of a high base in 2021, it will continue to maintain stable growth, and its scale will hit a record high. It has maintained its position as the largest country in trade in goods for six consecutive years.

Industry

  • Association of Indian Automobile Manufacturers: Domestic new car sales in 2022 will be 4,725,472 units, an increase of 25.7% over the previous year. The annual sales surpassed Japan for the first time, becoming the third-largest market in the world after China and the United States. Japan’s sales in 2022  fall by 5.6% to about 4.2 million vehicles, the lowest level in 45 years.
  • Philippine Department of Agriculture: On the 11th local time, the market price of onions was about 500 Philippine pesos per kilogram, or about 61 yuan, which was slightly lower than the price of 600 Philippine pesos per kilogram in the previous two days. However, this price is still more than double the price of chicken, which is understood to be around PHP 220 per kilogram locally. It is reported that onions are a common ingredient on the tables of the Filipino people. The average monthly consumption of onions in the country is about 20,000 tons.

Industry-China

  • China Audio-video and Digital Publishing Association中国音像与数字出版协会: In 2022, the actual sales revenue of the Chinese game market was about 265.88 billion yuan, a year-on-year decrease of 10.33%. Among them, mobile game sales revenue was about 193.06 billion yuan, a year-on-year decrease of 14.40%. Client game sales revenue was approximately 61.37 billion yuan, a year-on-year increase of 4.38%. Web game sales revenue was 5.28 billion yuan, a year-on-year decrease of 12.44%. The sales revenue of the e-sports market was about 117.8 billion yuan, a year-on-year decrease of 15.96%.
  • Beacon Professional Edition: As of 17:45 on January 15, 2023, the pre-sale box office of new films in the Spring Festival in 2023 will exceed 100 million. The four live-action films “Anonymous”《无名》, “Man Jianghong”《满江红》, “The Wandering Earth 2″《流浪地球2》 and “Exchanging Lives” 《交换人生》ranked the top four.
  • Beijing Business Daily: The flow of people picked up rapidly on Saturdays and Sundays. Among them, consumers bought more products such as plates and bowls.（PS, in our Chinese culture, buying new plate and bowls before CNY, will bring us positive and partial wealth to us and will make the whole families thriving population. Also the plate bowls are all in pairs）

China

  • From January 7th to 13th, 2023, in the first week of the Spring Festival travel season, the actual number of domestic civil aviation passenger flights has increased for 7 consecutive days, reaching more than 70,000 flights, and the average daily passenger flight volume exceeded 10,000 flights. The number of domestic passenger flights increased by 12% year-on-year, and has recovered to more than 80% of the same period before the epidemic. Among them, on the second day of the Spring Festival travel season, on January 8, 2023, the number of domestic passenger flights exceeded 10,000 again after nearly five months.
  • Shanghai Municipal Commission of Commerce: As the impact of the epidemic gradually subsides, the Spring Festival New Year’s Eve dinner market in 2023 will gradually enter the recovery stage, showing a scene of both dine-in reservations and prepared food delivery. The resubscription rate of unsubscribes for New Year’s Eve dinner has increased rapidly, and the reservation for New Year’s Eve dinner has reached more than 80%. In addition, prepared dishes 预制菜 are popular for takeaway. The supply of prepared dishes for New Year’s Eve this year has increased by nearly 20% year-on-year.
  • Beijing: In 2022, the city’s GDP is expected to achieve positive growth, and the per capita disposable income of residents will grow steadily. The main expected targets for economic and social development in 2023 are: regional GDP growth of more than 4.5%, general public budget revenue growth of about 4%, urban surveyed unemployment rate controlled within 5%, consumer price growth of about 3%, resident income growth and Economic growth is basically synchronized, and indicators such as ecological environment quality, energy, and water resources are in line with national requirements.
  • Shanghai: In 2022, facing the superimposed impact of unexpected factors, the city’s economy has stepped out of a V-shaped rebound. Determine this year’s economic growth target is more than 5.5%. We will adhere to the word stability and seek progress while maintaining stability, and focus on stabilizing growth, employment, and prices, so as to promote the effective improvement of the economy and the reasonable growth of the quantity. Actively organize enterprises to participate in various domestic and foreign commercial activities, and vigorously support the development of cultural tourism, exhibitions, consumption and other industries.
  • Shanghai: Decided to use 10 years to complete the transformation task of “two old and one village两旧一村” in three steps. In the first step, by 2025, the renovation of nearly 400,000 square meters of sporadic second-grade old houses in the central urban area will be fully completed, and the renovation of “trabecular thin-slab” houses with certain safety hazards will be basically completed. In the second step, by 2027, the transformation of the “trabecular thin plate” will be fully completed, and the urban village reconstruction project around the central urban area will be completed. The third step is to fully complete the renovation of uncompleted employee housing by 2032, and the renovation project of urban villages.
  • National Forestry and Grassland Administration林草局: In 2022, the total output value of the national forestry industry reach 8.04 trillion yuan. Emerging industries such as woody oil plants, under-forest economy, flowers, and ecotourism will flourish. The supply capacity of green ecological products  continue to increase. Economic forests and wood and bamboo processing will be cultivated. , Ecotourism and other three pillar industries with an annual output value exceeding one trillion yuan.
  • In 2022, the National Energy Group will achieve coal production of 600 million tons, a year-on-year increase of 5.4%; coal sales of 790 million tons, a year-on-year increase of 2.6%.
  • State Grid previously disclosed that from 2016 to 2019, the actual completion of grid investment was 497.7 billion yuan, 485.4 billion yuan, 488.9 billion yuan, and 447.4 billion yuan. In 2020, State Grid’s grid investment began to pick up, and the investment in the year was 460.5 billion yuan; in 2021, the grid investment was 488.2 billion yuan, and in 2022 it was 509.4 billion yuan. State Grid Chairman and Party Secretary Xin Baoan said recently that investment will be increased in 2023, of which the investment in the power grid will exceed 520 billion yuan, a record high. At the same time, the project reserve will be planned in advance, and the research on the five sending channels of the large-scale wind and power base in the desert and Gobi desert will be done. Strive to reach 300 million kilowatts of inter-provincial and inter-regional power transmission capacity in 2025, and 370 million kilowatts in 2030, and clean energy will account for more than 50% of the electricity transmitted.
  • The National Bureau of Statistics recently released the national CPI (Consumer Price Index) and PPI (Industrial Producer Price Index) data for December 2022. In December 2022, the CPI changed from a decrease of 0.2% in November to flat; it rose by 1.8% year-on-year, and the increase was 0.2 percentage points higher than that in November. The PPI chain changed from a rise of 0.1% in November to a fall of 0.5%; it fell by 0.7% year-on-year, and the decline was 0.6 percentage points narrower than that in November.
  • The three departments issued a notice to further expand the scope of the second-hand car export business area. A few days ago, the Ministry of Commerce, the Ministry of Public Security, and the General Administration of Customs issued the “Notice on Further Expanding the Regional Scope of Second-hand Car Export Business”, and decided to add 14 regions including Liaoning, Fujian, Henan, Sichuan, Shijiazhuang, Hebei, Hohhot, Inner Mongolia, and Hunchun, Jilin. Carry out second-hand car export business.
  • China-Laos Railway: According to the data of China Railway Kunming Bureau Group, since its opening, as of January 10, the cumulative number of goods sent by China-Laos Railway has exceeded 13 million tons. Among them, the domestic section sent 10.44 million tons of goods, the foreign section sent 2.85 million tons of goods, and the cross-border goods transported 2.46 million tons.

Company

  • Tech Planet: It is reported that the target of Douyin Life Service in 2023 is 150 billion. This target is about twice the GMV of the previous year, and has already exceeded one-third of Meituan’s one-year hotel, hotel and travel transactions. Specifically subdivided into various business lines, catering has undertaken half of the GMV target, with a plan to complete 75 billion, comprehensive plans to complete 45 billion, and wine travel plans to complete 30 billion.
  • Salesforce: 2022 holiday shopping recap released. During the 2022 U.S. holiday season, consumers will spend a total of $1.14 trillion online globally and $270 billion in the U.S. Cyber Week deals and buy online and pick up in store offerings are major factors helping retailers succeed in the 2022 holiday season.
  • Naver announced the acquisition of Poshmark, the largest fashion e-commerce company in the United States. A few days ago, Korean web portal giant Naver announced that it has completed the acquisition of Poshmark, an American fashion e-commerce platform. Founded in 2011, California-based Poshmark is one of the largest online shopping platforms in the United States, where users can buy and sell new and used clothing and other home goods. The company currently has more than 80 million users.
  • MSC completes acquisition of Italian container terminal. Recently, Terminal Investment Limited (TIL), a subsidiary of MSC, has completed the acquisition of the Terminal Darsena Toscana (TDT) terminal located in the port of Livorno, Italy. It is Italy’s leading refrigerated cargo terminal and the first in Italy to be equipped with an electrified direct connection to the national rail network.
  • Tesla’s third overseas factory is about to land in Indonesia. (ps, Tesla’s other two factories are located in Shanghai and Berlin)
  • TSMC: Published its fourth quarter 2022 earnings report. In the quarter, TSMC achieved revenue of NT$625.53 billion (approximately RMB 138.868 billion), a year-on-year increase of 42.8%; net profit was NT$295.9 billion (approximately RMB 65.69 billion), an increase of 78.0% year-on-year.

World

  • South Korea: Population declines for third consecutive year in 2022, with number of single-person households approaching 10 million. The national registered population was 51.439 million, a year-on-year decrease of 0.39%. The average number of people per household in the country is 2.17, a record low. It is estimated that by 2025, South Korea will become a super-aged society where the population aged 65 and over accounts for 20% of the total population.
  • The Siberian region of Russia has recently encountered rare severe cold weather. The temperature in the coldest place has dropped to minus 73 degrees Celsius, breaking the record for the lowest temperature in the northern hemisphere. From the night of January 11 to 12, 2023, the temperature in Oymyakon, known as the “world’s cold pole”, reached minus 60°C. These areas have not seen such low temperatures for about 10 years.
  • The Central Bank of Russia announced that it will resume buying and selling foreign exchange in the domestic foreign exchange market from January 13.
  • Hungarian Ministry of Foreign Affairs and Economics: The amount of oil and gas obtained from Russia cannot be replaced in the short term. Russian gas accounts for 85% of Hungary’s natural gas consumption, and Russian oil accounts for 65% of Hungary’s oil demand. While Hungary is always looking to diversify its energy supply, these require significant investments of money and time.
  • IMF: Global economic growth is expected to stabilize at 2.7% in 2023.
  • Germany: According to the German “Frankfurter Allgemeine Zeitung”, according to the data released by the German Emissions Trading Authority (DEHSt), in 2022 Germany’s carbon emission allowance auction generated a total revenue of about 13.2 billion euros, of which European transaction revenue is 6.8 billion euros, and domestic transaction revenue is 64 billion euros. billion euros, breaking the previous record of 12.5 billion euros set in 2021.
  • Egypt: Currency depreciated by 50% in 10 months.