Trade alert
- Electrolytic manganese dioxide products电解二氧化锰产品: The EU launched an anti-dumping investigation. Recently, the European Commission issued an announcement stating that, in response to the application of the EU company AUTLAN EMD SL, the European Commission launched an anti-dumping investigation on electrolytic manganese dioxide products originating in China. The EU CN code of the product involved is the product under ex 2820 10 00.
Trade
- According to the data released by the China Council for the Promotion of International Trade, the global economic and trade friction index in December 2022 is 222, which is at a high level, an increase of 75 points compared with November, and an increase of 145 points compared with the same period last year, indicating that the global economic and trade friction conflicts are showing high fluctuations and intensified conflicts.
- The Central Bank of Iraq said on the 22nd that Iraq plans to allow trade with China to be settled directly in RMB for the first time in order to improve its foreign exchange reserves. Regarding Iraq’s move, Reuters said that this is the latest sign that the RMB is playing a growing role in the international arena.
- Port of Hamburg, Germany: The Port of Hamburg, Germany handled 8.3 million TEU in 2022, a decrease of 5.1% compared to 2021. Throughput in the fourth quarter of 2022 plummeted by 12% year-on-year. In 2022, the Port of Hamburg’s container imports fell by 6.1% year-on-year to 4.2 million TEU, while exports fell by 4.1% to 4.1 million TEU.
Industry
- Recently, the latest data from the market research company TrendForce shows that in the fourth quarter of last year, the average price of DRAM (Dynamic Random Access Memory) plummeted by 34.4%, while the decline in the third quarter was 31.4%; the performance of NAND flash memory was not much better, last year The price declines in the third and fourth quarters were 32% and 27.7%, respectively.
Industry-China
- China Photovoltaic Industry Association: In January, national solar-grade polysilicon production increased by 1% month-on-month and 36.5% year-on-year; The output of silicon wafers decreased by 11.9% month-on-month and 4.1% year-on-year, of which the output of monocrystalline silicon wafers accounted for about 98.3%; Cell output decreased by 5.6% month-on-month and increased by 24.8% year-on-year, of which monocrystalline cell output accounted for about 94.7%.
- Roland Berger, an international management consulting company: In 2022, the compound growth rate of China’s medical device market in the past seven years was about 17.5%, and it has jumped to become the second largest market in the world except the United States. While the industrial scale is growing steadily and rapidly, the concentration of the medical device industry is also increasing. The operating income of Chinese medical device manufacturers above designated size accounts for more than 60% of the entire industry.
- China Securities Journal: A number of domestic ADC drugs such as CSPC and Kelun Pharmaceutical have successfully obtained overseas authorization. The industry believes that ADC drugs have long-term development potential, and the Chinese market will also maintain rapid growth, exceeding US$4.29 billion by 2030, with a compound annual growth rate of 20% from 2021 to 2030.
China
- The “Belt and Road” tax collection and management ability promotion alliance course system version 1.0 was released(“一带一路”税收征管能力促进联盟课程体系1.0版). At the press conference held by the State Administration of Taxation on February 21, version 1.0 of the curriculum system of the “Belt and Road” tax collection and management capacity promotion alliance was released to the world to better play the multilateral role of cooperation mechanisms and deepen international tax exchanges and cooperation. Curriculum system version 1.0 includes 4 themes and 65 courses, which are divided into three levels: elementary, intermediate, and advanced(课程体系1.0版包括4个主题、65门课程,划分为初级、中级、高级三个层级。). 90% of the courses will be online before August this year, and all courses will be online within this year.
- Statistics show that in 2022, the total economic volume of Beijing, Tianjin, and Hebei exceeded 10 trillion yuan, which is 1.8 times that of 2013 at current prices. According to data from the Bureau of Statistics of Beijing, Tianjin, and Hebei Province, the GDP of Beijing and Hebei exceeded 4 trillion yuan, both of which were 4.2 trillion yuan, 2.0 times and 1.7 times that of 2013 respectively; The total value is 1.6 trillion yuan, 1.6 times that of 2013.
Company
- Alibaba: Revenue in the third fiscal quarter of fiscal year 2023 was 247.76 billion yuan, compared with 242.58 billion yuan in the same period last year. Net profit was 46.815 billion yuan, compared with 27.692 billion yuan in the same period last year. Cainiao’s revenue rose 27% year-on-year to 16.553 billion yuan. Businesses such as Cainiao, international retail, and self-operated business, which reflect the progress of capacity building, grew rapidly, of which international retail revenue increased by 26% year-on-year.
- Netease: Total revenue in 2022 was 96.5 billion yuan, compared with 87.606 billion yuan in the same period last year; net profit was 22.808 billion yuan, compared with 19.762 billion yuan in the same period last year. The revenue in the fourth quarter was 25.4 billion yuan, a year-on-year increase of 4%; the net profit was 4.8 billion yuan, a year-on-year increase of 6.6 billion yuan, of which, the net income of games and related value-added services was 19.1 billion yuan, a year-on-year increase of 1.6%; the net income of cloud music was 2.4 billion yuan, a year-on-year increase of 25.8%; Youdao’s revenue was 1.5 billion yuan, a year-on-year increase of 9%.
- LittleRedBook小红书: It has more than 20 million monthly active creators, more than 3 million daily notes, and nearly 300 million daily search queries.
- Apple Inc.: Non-invasive and continuous blood glucose monitoring with Apple Watch. The goal of the secretive research, dubbed E5, is to successfully measure glucose levels in the human body without the need to prick the skin to draw blood.
- The TikTok Shop Southeast Asia Mall is launched in Thailand and the Philippines. At present, the mall has been launched in Indonesia, Thailand, and the Philippines, and will be opened to more Southeast Asian countries and cross-border merchants. The mall entrance is set at the most exposed resource point on the TikTok homepage.
- Forbes: Released the 2023 Hong Kong 50 Rich List, Li Ka-shing topped the list again, with a net worth of US$3 billion more than last year. Henderson Land founder Lee Shau Kee’s net assets fell by 11%, still ranking second. The Zheng Jiashun family of New World Development continued to rank third with US$28.9 billion. While the benchmark Hang Seng Index has fallen 12% since wealth was measured a year ago, the total wealth of Hong Kong’s 50 richest people has only fallen slightly from $328 billion to $324 billion.
- The Elec: Due to soaring inventory, sluggish product sales and deteriorating profitability, Magna Semiconductor has decided to suspend production at its Gumi plant in North Gyeongsang Province, South Korea for a week from February 25. The factory mainly produces power management ICs. Based on the input of 8-inch wafers, the factory has a monthly production capacity of 40,000 pieces.
- IT Home: It is reported that Apple selected Luxshare Precision to help it develop its first AR headset. The team was previously managed by Pegatron. According to the industry, Foxconn has also participated in Apple’s AR project, and its main goal is to develop cheaper second-generation AR devices, focusing on increasing production and productivity and helping Apple reduce overall costs.
- Automaker Stellantis CEO: The extra cost of producing electric vehicles in North America and other regions needs to be considered and countermeasures may be taken to protect profit margins. Asked if further layoffs were possible, he said nothing was off the table. The most impactful challenge is the rising costs associated with the electrification of the automotive market. The plant will continue to produce the Cherokee SUV until production is officially discontinued.
- eBay: On the 23rd, eBay released its fiscal year 2022 financial report. The total transaction volume for the year was US$73.9 billion, a decrease of 15% compared with fiscal year 2021, excluding the impact of exchange rate changes, it was a year-on-year decrease of 11%; the annual net revenue was US$9.795 billion, a year-on-year decrease of 6%, excluding The impact of foreign exchange rate changes was a 4% year-on-year decrease.
- Maersk announced the sale of two more warehouses in Russia. Shipping and logistics group Maersk said it had agreed to sell two of its logistics bases in Russia to IG Finance Development Limited, all but marking the end of its business activities in the country.
- Baidu: Recently, Baidu released its financial report. In 2022, revenue was 123.675 billion yuan, and net profit (non-GAAP) attributable to Baidu was 20.68 billion yuan, a year-on-year increase of 10%. In the fourth quarter, Baidu achieved revenue of 33.077 billion yuan, and its net profit (non-GAAP) attributable to Baidu was 5.371 billion yuan, a year-on-year increase of 32%.
World
- Meteo-France: The country has not experienced “meaningful precipitation有意义的降水” for 31 consecutive days, setting a record for the most consecutive days without precipitation in winter since records began in 1959. Experts say this month will be one of France’s “driest Februarys” on record, despite the meteorological office forecasting rain later this week. There is also less snow cover in the French mountains this winter than in previous years.
- Vietnam’s Ministry of Industry and Trade stated that Vietnam’s export volume reached US$371.3 billion in 2022, a year-on-year increase of 10.5%; in 2023, an export growth target of 6% will be set, and the export volume will reach US$393-394 billion, a net increase of US$22 billion compared with 2022 Dollar.
- Indonesia: According to data released by the Central Bureau of Statistics, Indonesia’s trade surplus reached US$3.87 billion in January, enabling the country to achieve a trade surplus for 33 consecutive months. Among them, the total export value in January this year was 22.31 billion US dollars, while the total import value was 18.44 billion US dollars.
- Canada: Both import and export of service trade growed in 2022. In 2022, Canada’s service trade imports was 177.3 billion Canadian dollars, an increase of 22.2%; exports was 160.2 billion Canadian dollars, an increase of 14.9%; the service trade deficit was 17.1 billion Canadian dollars. Tourism services and transportation services are the main sources of deficit expansion.
- Brazil: Financial markets raised their growth and inflation forecasts for this year.
- Cambodia: RCEP boosts the country’s foreign trade. In 2022, Cambodia’s trade volume with other members of the Regional Comprehensive Economic Partnership (RCEP) reached US$31 billion, a year-on-year increase of 4%. According to data previously released by the Cambodian government, the trade volume between Cambodia and RCEP members accounts for nearly 60% of its total trade volume. RCEP has made Cambodia one of the most beneficiary countries and will effectively promote Cambodia’s foreign trade and attract foreign investment.
- Thailand: Consumer confidence reaches 26-month high.
- Russia: On the 22nd, the Russian Federal Statistical Office released data that the producer price index (PPI) in January fell by 4.6% year-on-year and 0.9% month-on-month; industrial output fell by 2.4% year-on-year in January, compared with the 4.3% decline in the previous month. Industrial output narrowed year-on-year for the 10th straight month.
- Canada: Inflation continued to slow at 5.9% in January.
- The Korean Ministry of Culture, Sports and Tourism: will increase the export of the cultural content industry at an average annual rate of 12.3%, and strive to reach 25 billion US dollars by 2027. To achieve this goal, the Korean government plans to expand the market in the Middle East, Europe, North America and other regions.
- Eurozone: In January, the inflation rate in the eurozone was 8.6%, down from 9.2% in December last year, but still much higher than the 5.1% in the same period last year. Inflation in the European Union was 10% in January, down from 10.4% in December but still well above the 5.6% recorded in the same month last year. Food overtakes energy as the number one factor driving up inflation.

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