Trade alert

  • Casual Shoes and their packaging(休闲鞋及其包装): The United States Issues Section 337 Final Judgment. On January 13, the U.S. International Trade Commission (ITC) announced that it had made a final ruling on Part 337 of specific casual shoes and their packaging: the administrative judge in this case made a preliminary ruling on January 9, 2023, and it is expected to issue a general exclusion on the products involved. Order, issued a limited exclusion order on the products involved in the case exported to or sold in the United States by the named defendant China Quanzhou ZhengDe Network Corp. d/b/a/ Amoji, and issued an injunction order on the named defendant. Comments are now sought on the public interest in relation to the relief measures.

Trade

  • Uruguay: The Agricultural Planning and Policy Office of the Ministry of Animal Husbandry and Fisheries estimates that the export value of Uruguay’s forestry industry will reach US$2.446 billion in 2022, a year-on-year increase of 13%. Except for pine logs松圆木, the export value of major products in the forestry industry chain has increased . Pulp纸浆 ranks first in the forestry product export ranking in 2022, and the main export destinations are the European Union and China, accounting for about 80%.
  • General Administration of Customs.P.R.China: According to preliminary estimates, China’s cross-border e-commerce import and export will reach 2.11 trillion yuan in 2022, an increase of 9.8%. Among them, exports were 1.55 trillion yuan, an increase of 11.7%, and imports were 0.56 trillion yuan, an increase of 4.9%.
  • Lu Daliang, spokesperson of the General Administration of Customs: In the past two years, the import and export of goods in Hainan Free Trade Port have developed rapidly. After breaking through 100 billion yuan for the first time in 2021, it broke through the 200 billion yuan mark in 2022, reaching 200.95 billion yuan, an increase of 36.8%. Among them, the export was 72.26 billion yuan, an increase of 120.7%, and the import was 128.69 billion yuan, an increase of 12.8%.

Industry

  • Counterpoint: Shipments of “Make in India” TVs to grow 33% QoQ to over 5 million units in Q3 2022. In terms of electronic wearable devices, nearly 37% of the shipments in the TWS field came from India.
  • Japan Machinery Industry Association: In December 2022, machine tool orders increased by 1.0% year-on-year to 140.5 billion yen. Year-over-year growth for the first time in three months. The order value in 2022 increased by 14.2% over the previous year to 1.7596 trillion yen, the second highest level in history after 2018.
  • Clarkson Research released statistics: In 2022, the global new ship orders was 42.78 million revised gross tons (1384 ships), a year-on-year decrease of 20%. Among them, Chinese shipping companies undertook 20.82 million revised gross tons (728 ships), ranking first with 49%; Korean shipping companies undertook 16.27 million revised gross tons (289 ships), accounting for 38% of the world, ranking second.
  • Layoff.fyi data: In 2023, in just 15 days, 91 technology companies around the world have laid off 24,151 employees worldwide, accounting for 15% of the total number of layoffs in the technology industry in 2022. In the past 2022, more than 1,000 technology companies have laid off 154,256 people worldwide.
  • World Economic Forum: The 2023 annual meeting kicked off in Davos, Switzerland on January 16. The theme of this annual meeting is “Strengthening Cooperation in a Divided World”, focusing on how to deal with food and energy crises, how to deal with high inflation, low growth and high debt, how to deal with industrial recession, how to deal with social vulnerability, how to deal geopolitical risk,etc.

Industry China

  • China Construction Machinery Industry Association: According to statistics from 11 bulldozer 推土机 manufacturers, 584 bulldozers of various types were sold in December 2022, a year-on-year increase of 24%, and a total of 7,241 bulldozers were sold, a year-on-year increase of 4.73%.
  • Post Office: From January to December 2022, the business revenue of the postal industry was total 1.35 trillion yuan, a year-on-year increase of 5.6%. Among them, the cumulative income of express delivery business reached 1.06 trillion yuan, a year-on-year increase of 1.6%.
  • National Development and Reform Commission: From 24:00 on January 17, 2023, the domestic retail price limit of gasoline and diesel will be lowered by 205 and 195 yuan per ton respectively. On a national average, No. 92 gasoline was lowered by 0.16 yuan; No. 95 gasoline was lowered by 0.17 yuan; No. 0 diesel was lowered by 0.17 yuan. According to the estimation of the 50L capacity of the fuel tank of a general household car, it will cost 8 yuan less to fill up a tank of No. 92 gasoline. This price adjustment is the second adjustment of refined oil prices in 2023, and it is also the first downward adjustment.
  • Press and Publication Administration: Released the approval information for domestic online games in January 2023, with a total of 88 games approved. A number of A-share listed companies are involved, including Tencent’s “Yuanmeng Star”(腾讯《元梦之星》), NetEase’s “Extraordinary Pioneer”(网易《超凡先锋》), Mihayo’s “Honkai: Star Rail”(米哈游的《崩坏：星穹铁道》), Sanqi Interactive Entertainment “Fuyao Dream”(三七互娱的《扶摇一梦》, Perfect World “Tianlong Babu 2: Flying Dragon Fighting the Sky”(完美世界《天龙八部2：飞龙战天》) and so on.
  • Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers： in 2022, China’s auto production and sales complete 27.021 million and 26.864 million vehicles, respectively, a year-on-year increase of 3.4% and 2.1%, achieving a small increase throughout the year. China’s total automobile production and sales have ranked first in the world for 14 consecutive years.

China

  • National Bureau of Statistics: Data released on January 17, according to preliminary calculations, China’s gross domestic product (GDP) in 2022 was be 121020.7 billion yuan, calculated at constant prices, an increase of 3.0% over the previous year.
  • Kang Yi, director of the National Bureau of Statistics: In 2022, the total retail sales of consumer goods stabilized at around 44 trillion yuan, of which online retail sales will reach 12 trillion yuan. China is still the world’s second-largest consumer market and the largest online retail market, and the advantages of a super-large-scale market are still obvious.
  • State-owned Assets Supervision and Administration Commission: From January to December 2022, central enterprises realized a cumulative operating income of 39.4 trillion yuan, a year-on-year increase of 8.3%; a cumulative total profit of 2.55 trillion yuan, a year-on-year increase of 5.5%; a cumulative net profit of 1.9 trillion yuan, a year-on-year increase 5%. Implement the spirit of the central government, and plan a new round of reform plans for deepening state-owned assets and state-owned enterprises around enhancing the core competitiveness of enterprises and enhancing core functions.
  • Space Agency: Announced the scientific research results of China’s Chang’e-5 lunar samples(嫦娥五号月球样品), revealing that magma activities still existed on the moon 2 billion years ago, and accurately determined the age of the moon to be 2.03 billion years. In addition, China discovered a new mineral on the moon named Chang’e Stone, which made China the third country in the world to discover new minerals on the moon.
  • Shanghai: The peak of this round of covid epidemic infection has passed, the intensity of community transmission has dropped significantly, and the epidemic trend has stabilized and improved, and it is already at a low epidemic level.
  • Zhejiang Daily: In 2022, Zhejiang’s import and export scale hit a record high again. The province’s import and export will be 4.68 trillion yuan, an increase of 13.1% over the previous year. Among them, exports were 3.43 trillion yuan, an increase of 14%; imports were 1.25 trillion yuan, an increase of 10.7%. Exports contributed 18.5% to the national growth, ranking first in the country.
  • By the end of 2022, nearly 20 million people have opened individual pension accounts(个人养老金账户). On November 25, 2022, the personal pension system was implemented first in 36 cities or regions including Beijing, Shanghai, Guangzhou, Xi’an, and Chengdu. Eligible people in the first cities or regions can voluntarily participate in personal pensions, and the annual payment limit is 12,000 Yuan.
  • National Bureau of Statistics: At the end of 2022, the national population (including the population of 31 provinces, autonomous regions, municipalities directly under the Central Government and active servicemen, excluding Hong Kong, Macao and Taiwan residents and foreigners living in 31 provinces/ autonomous regions/municipalities directly under the Central Government) was 1,411.75 million, a decrease from the end of the previous year 850,000 people. This is also the first time that my country’s population has experienced negative growth since 1962 (that is, in the past 61 years).
  • The annual birth population was 9.56 million, with a birth rate of 6.77‰; the death population was 10.41 million, with a death rate of 7.37‰; the natural population growth rate was -0.60‰.

Company

  • Koolearn新东方在线: For the six months ended November 30, 2022, the GMV (gross merchandise volume) of the live e-commerce business was 4.8 billion yuan, and the number of paid orders from Douyin reached 70.2 million.
  • Securities Times(证券时报): CATL and NIO signed a five-year comprehensive strategic cooperation agreement in Ningde.
  • Perfect World: It is estimated that the net profit in 2022 will be 1.36 billion to 1.44 billion yuan, a year-on-year increase of 268.41%-290.08%. During the reporting period, the game business is expected to achieve a net profit of 1.58 billion to 1.64 billion yuan, a year-on-year increase of 119.35% to 127.68%. This growth is mainly due to the good performance increment contributed by products such as ” New Fantasy Zhuxian《梦幻新诛仙》” and “Magic Tower《幻塔》”.
  • Xiaopeng Motors小鹏汽车: From 14:00 on January 17, 2023, the new year’s new price system for G3i/P5/P7 will be launched. The starting prices are 148,900, 156,900 and 209,900 respectively, with the largest drop of 13.23%.
  • Lazada: A few days ago, at the Tech Awards 2022 event held in Vietnam, Lazada was rated as an excellent e-commerce platform for its efforts in improving technology and enhancing user experience. This is the second year in a row that Lazada has received this award. Its average growth rate in Vietnam’s e-commerce industry in 2022 reaches 20%.
  • Wisdom Marine announced its results. In 2022, the cumulative operating income was US$836 million (NT$24.913 billion), a year-on-year increase of 21.81%; the cumulative operating profit will reach US$385 million (NT$11.481 billion), an increase of 30.01% year-on-year; The previous profit reached US$356 million (NT$10.599 billion), a year-on-year increase of 19.97%.

World

  • Singapore Tourism Board: The number of tourists entering Singapore in 2022 was 6.3 million, and it is expected to reach 12 million to 14 million in 2023. It is expected to bring tourism revenue to Singapore from 18 billion Singapore dollars (91.9 billion yuan) to 21 billion new dollars Yuan (about 107.2 billion yuan), returning to 67% to 75% of the level before the epidemic.
  • Spanish industry body Exceltur: Spanish tourism companies could see a 4.7% increase in revenue this year compared to 2019. Total revenue for Spanish tourism companies rebounded in 2022, but remains 2.1% below 2019 levels.
  • The Central Bank of Russia: Starting from January 19, it will start to provide a permanent currency swap facility for RMB to ruble, and set the daily limit of RMB swap at 10 billion yuan, which may be adjusted if necessary.
  • Central Bank of Russia: As of January 1, 2023, Russia’s foreign exchange reserves reached US$581.9 billion, an increase of 2.6%, or US$14.7 billion, from the previous month due to currency appreciation. Russia’s foreign exchange reserves are composed of monetary gold, the International Monetary Fund’s Special Drawing Rights (SDR), foreign currency and RMB assets held in the country.
  • Coordinating Minister of Oceans and Investment of Indonesia: It is estimated that before 2026, US$30.9 billion will be invested in projects related to the development of electric vehicle battery ecosystems in Indonesia, including projects by Vale, Zhongwei New Materials and Indonesia’s Adaro Aluminum Company(淡水河谷、中伟新材料和印尼Adaro铝业公司). Local governments have been asked to speed up the issuance of investment permits.
  • Japan’s foreign reserves were US$1.2275 trillion, a decrease of 12.7%. A few days ago, data released by the Ministry of Finance of Japan showed that the country’s foreign exchange reserve balance at the end of 2022 was US$1.2275 trillion, a decrease of US$178.1 billion (12.7%) from the end of 2021. The foreign exchange intervention of buying yen and selling dollars implemented after a lapse of 24 years used foreign exchange reserves.
  • According to the Vietnamese government news website, Standard Chartered Bank recently released a report titled “Vietnam’s economy maintains rapid growth”. It is estimated that Vietnam’s GDP growth rate will reach 7.2% in 2023 and 6.7% in 2024.
  • Germany: German Finance Minister Christian Lindner recently predicted that the German inflation rate will fall to 7% in 2023 and continue to decline in 2024 and beyond. However, he believes high energy prices will become the new normal. Germany’s year-on-year inflation rate for November 2022 was 11.3%, down slightly from a high of 11.6% hit in October.