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The yuan's mid-price was set at 7.1151, weaker by 29 points
Source: Sina Finance 2024-06-14
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The yuan's mid-price was set at 7.1151, weaker by 29 points
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China responds to the EU's announcement of tariffs on Chinese car companies
Source: Global Times 2024-06-14
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China responds to the EU's announcement of tariffs on Chinese car companies
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Freight rates will exceed $20,000 /FFE, and Maersk has announced an increase in FAK rates on European lines to nearly $10,000
Source: Shipping Network 2024-06-14
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Freight rates will exceed $20,000 /FFE, and Maersk has announced an increase in FAK rates on European lines to nearly $10,000
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U.S. producer prices unexpectedly fell by the most since October
Source: Sina Finance 2024-06-14
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U.S. producer prices unexpectedly fell by the most since October
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The World Bank has slightly revised up global GDP growth for this year
Source: Financial Union 2024-06-14
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The World Bank has slightly revised up global GDP growth for this year
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Foreign trade news 6.14 | The depreciation pressure of RMB remains unabated; Eu and Turkey plan to raise taxes on Chinese electric vehicles, Ministry of Commerce responds; Cross-border e-commerce new policy; Sea freight material increase; Us inflation moderates slightly
Source: China Chamber of Commerce for Import and Export of Mechanical and Electrical Products 2024-06-14
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Foreign trade news 6.14 | The depreciation pressure of RMB remains unabated; Eu and Turkey plan to raise taxes on Chinese electric vehicles, Ministry of Commerce responds; Cross-border e-commerce new policy; Sea freight material increase; Us inflation moderates slightly
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The United States made the second double reverse sunset review of crystalline silicon photovoltaic cells
Source: China Trade Remedy Information Network 2024-06-14
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The United States made the second double reverse sunset review of crystalline silicon photovoltaic cells
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Mexico's central bank will act to restore order
Source: Financial Community 2024-06-14
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Mexico's central bank will act to restore order
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In addition to electric vehicles, Turkey expanded the scope of additional tariffs on Chinese cars
Source: Observer Network 2024-06-14
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In addition to electric vehicles, Turkey expanded the scope of additional tariffs on Chinese cars
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The yuan's mid-price was set at 7.1122, stronger by 11 points
Source: Sina Finance 2024-06-13
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The yuan's mid-price was set at 7.1122, stronger by 11 points
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Get rid of dollars and pay directly in yuan
Source: Foreign Toast Information 2024-06-13
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Get rid of dollars and pay directly in yuan
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Global port risk warning, the recent shipment must pay attention to delays
Source: Focus horizon 2024-06-13
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Global port risk warning, the recent shipment must pay attention to delays
Policy focus
Overseas market
Trade friction
Macro economy and trade
Statistical data
Investigation and analysis
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2024-06-14China responds to the EU's announcement of tariffs on Chinese car companiesAccording to CCTV news, the European Commission imposed tariffs on three sampled Chinese car manufacturers: BYD 17.4%, Geely 20%, SAIC 38.1%. Other battery-electric vehicle manufacturers in China that participated in the survey but have not been sampled will be subject to a weighted average tax of 21%.
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2024-06-12The Ministry of Commerce and other 9 departments issued the Opinions on Expanding Cross-border E-commerce Exports and Promoting the Construction of Overseas WarehousesAccording to the website of the Ministry of Commerce, nine departments including the Ministry of Commerce issued the Opinions on Expanding cross-border e-commerce exports and Promoting the Construction of Overseas Warehouses, which are as follows: Driven by scientific and technological innovation, cross-border e-commerce actively uses new technologies, ADAPTS to new trends, and cultivates new drivers of foreign trade in new forms and models. It works in synergy with overseas warehouses and other new foreign trade infrastructure, which can reduce intermediate links and direct access to consumers, promote the optimization of foreign trade structure, stabilize the scale, and create new advantages in international economic cooperation. It has become an effective force in the development of foreign trade and an important trend in the development of international trade. To expand cross-border e-commerce exports, optimize overseas
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2024-06-06One year after full entry into force, RCEP has delivered a brilliant report cardThe Regional Comprehensive Economic Partnership (RCEP) is the world's largest free trade agreement covering the largest population and economic scale, and more than 90 percent of goods trade within the region will eventually achieve zero tariffs.
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2024-06-05Three departments to adjust the car and ship tax preferential policy automotive product technical requirements to comeIt is learned from the Ministry of Industry and Information Technology that from July 1, 2024, the Ministry of Industry and Information Technology, the Ministry of Finance, the State Administration of Taxation and other three departments will adjust the product technical requirements for energy-saving and new energy vehicles and vessels to enjoy vehicle and vessel tax incentives. Relevant energy-saving and new energy vehicles need to meet certain conditions in order to enjoy preferential policies.
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2024-06-03The latest announcement! We will suspend tariff concessions for imports of 134 tax items from the Taiwan regionOn May 31, the Tariff Commission of The State Council issued an announcement on the suspension of tariff concessions for some products (the second batch) of the Economic Cooperation Framework Agreement between the Two Sides of the Taiwan Straits. The Taiwan region has unilaterally adopted discriminatory prohibitions and restrictions on the export of products from the mainland, which violates the provisions of the Economic Cooperation Framework Agreement across the Taiwan Straits. On December 21, 2023, the Customs Tariff Commission of The State Council issued the Tax Commission Announcement No. 9, 2023, suspending the tariff reduction of some products under the Economic Cooperation Framework Agreement between the Two Sides of the Taiwan Straits, but Taiwan has not taken any effective measures to cancel trade restrictions on the mainland.
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2024-05-31Announcement of the Equipment Development Department of the Central Military Commission of the General Administration of Customs of the Ministry of Commerce No. 21 of 2024 on the implementation of export control of the relevant itemsIn accordance with the relevant provisions of the Export Control Law of the People's Republic of China, the Foreign Trade Law of the People's Republic of China and the Customs Law of the People's Republic of China, with the approval of The State Council and the Central Military Commission, the following items are subject to export control in order to safeguard national security and interests and fulfill international obligations such as non-proliferation.
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2024-06-14U.S. producer prices unexpectedly fell by the most since OctoberU.S. producer prices unexpectedly fell in May by the most in seven months, adding to evidence that inflationary pressures are easing. The producer-price index fell 0.2% month-on-month and was up 2.2% year-over-year, according to data released Thursday by the Bureau of Labor Statistics. The PPI data followed a report on consumer prices in May that also showed a broad cooling in inflation. Fed officials have kept their benchmark interest rate at its highest level in more than two decades since last July.
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2024-06-14The World Bank has slightly revised up global GDP growth for this yearIn its latest Global Economic Prospects report, the World Bank said that real global GDP will grow by 2.6 per cent this year, up 0.2 percentage points from the 2.4 per cent forecast in January. "The bad news is that we may be stuck in the slow lane," said World Bank Forecast Director John Goss. On Tuesday (June 11) local time, the World Bank said in its latest "Global Economic Prospects" report that global real GDP will grow by 2.6% this year, an increase of 0.2 percentage points from the 2.4% forecast in January. This means that the global economy is expected to avoid the "triple decline" after the recovery from the COVID-19 pandemic.
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2024-06-14Mexico's central bank will act to restore orderMexico's central bank governor, Victoria Rodriguez, said on Wednesday the central bank was monitoring recent volatility in domestic financial markets, including the foreign exchange market, and could act to restore order in the event of "atypical" or "extreme" behavior. Mexico's central bank "will pay very close attention to developments in the market and if the market shows atypical behavior or extreme volatility, the central bank may, if necessary, take the necessary measures to restore orderly behavior in the market," Rodriguez said at the launch of the central bank's semi-annual financial stability report.
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2024-06-13Japanese corporate prices continue to riseThe central bank released preliminary statistics on the 12th show that the depreciation of the yen, rising copper prices in the international market and other factors, the price of Japanese enterprises continued to rise. As of May, both year-on-year and month-on-month increases in the enterprise price index have expanded for four consecutive months. The business price index rose 0.7 percent month-on-month to 122.2 in May, up 2.4 percent from a year earlier, the report showed. Since February this year, the enterprise price index has continued to rise, and the increase is expanding.
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2024-06-13Thailand will impose a 7% value-added tax on cross-border e-commerce sellersAccording to Thailand's China network reported on June 5, the Thai Cabinet passed a motion this week's regular meeting to levy 7% value-added tax on all goods sold to the platform without discrimination, which will have an impact on China's cross-border e-commerce sellers using overseas bonded warehouse delivery mode. The Thai Cabinet on Tuesday reviewed and approved a 7% value-added tax on goods sold by cross-border e-commerce sellers priced below 1,500 baht, which is the result of a collective complaint by Thai merchants and a measure by Thai authorities to purify the level playing field of e-commerce platforms.
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2024-06-13A huge fire broke out in a Malaysian port, destroying a large number of containersAccording to Malaysian media reports recently, Malaysia's largest container Port port Klang (Port Klang West) West port container fire, 14 containers were burned, but fortunately no casualties. The Selangor Fire Department received the alarm at 1:40 p.m. on the 8th, and dispatched 24 firefighters to the scene to control the fire, and arrived at 1:49 p.m., immediately began extinguishing the fire. As of 2:39 p.m., the fire was under control. The fire was completely extinguished by the morning of the 9th.
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2024-06-14The United States made the second double reverse sunset review of crystalline silicon photovoltaic cellsOn June 6, 2024, the U.S. Department of Commerce issued a notice saying that the second anti-dumping rapid sunset review of Crystalline Silicon Photovoltaic Cells and Modules imported from China (whether assembled into the module or not) was final:
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2024-06-14In addition to electric vehicles, Turkey expanded the scope of additional tariffs on Chinese carsAccording to reports, on June 8, local time, a presidential decision published in the Turkish government Gazette showed that Turkey will impose an additional 40% tariff on cars imported from China, while also specifying a minimum tariff of $7,000 per car. According to the communique, this means that the 40 percent additional tax that currently applies to electric vehicles in China will also apply to vehicles of all fuel types. In March 2023, Turkey imposed an additional 40 percent surcharge on tariffs on electric vehicles imported from China, raising the tariff to 50 percent, and proposed some regulations on the maintenance and service of electric vehicles.
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2024-06-13The United States has announced new sanctions against Russia, involving dozens of Chinese institutions and individualsOn June 12, 2024, as Joe Biden was leaving for the G7 leaders' summit in Italy, the State and Treasury Departments announced new sanctions against Russia, and the Commerce Department is planning to expand its export control blacklist. Attempts to add to the entity list those individuals and institutions that assist the Russian military and defense sectors. The State Department has imposed sanctions on more than 100 Russian targets, including those involved in developing Russia's energy, metals and mining production and exports; Persons who evade and circumvent sanctions; And people who produce the materials needed to support the Russian war effort.
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2024-06-12Turkey plans to impose 40% tariffs on imported cars from China, which should be able to overcome the challengeA presidential decision published by Turkey on June 8 shows that Turkey has decided to impose an additional 40 percent tariff on cars imported from China, with an additional tariff of at least $7,000 per vehicle, and will be implemented on July 7. The Turkish Commerce Ministry said in the statement that the purpose of imposing the tariffs was to increase the market share of domestically produced vehicles and reduce the current account deficit: "The import regime decision and its annex, to which we are parties, are international agreements aimed at ensuring consumer safety, protecting public health, protecting the market share of domestic production, encouraging domestic investment and reducing the current account deficit." It is worth noting that this is not the first time for Turkey
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2024-06-11The United States has launched a double-reverse investigation into disposable aluminum containers, pans, trays and LIDSOn 6 June 2024, pursuant to an application filed on 16 May 2024 by the Aluminum Foil Container Manufacturers Association and its member companies, The U.S. Department of Commerce has announced an anti-dumping and countervailing investigation into Disposable Aluminum Containers, Pans, Trays, and LIDS (andLids) imported from China. This case involves products under US Customs Code 7615.10.7125. The U.S. International Trade Commission (ITC) is expected to make a preliminary industrial injury ruling in this case no later than July 1, 2024.
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2024-06-11The European version of the forced labor Act is coming into force, and the photovoltaic industry should be careful to respondOn April 23, 2024, the European Parliament adopted the anti-forced Labour legislation "Legislative Resolution on the prohibition of forced Labour products from entering the EU market", which will be applied by EU member States over the next three years. Under the bill, EU member states and the European Commission will investigate suspicious goods, supply chains and manufacturers. If the product is proven to have been produced with forced Labour, it can no longer be sold or transported on the EU market. The goods in question will only be withdrawn from the EU and disposed of through donation, recycling or destruction. The EU market has been China's largest export market for photovoltaic products for many years, accounting for half of China's photovoltaic exports, 2023 China
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2024-06-14The yuan's mid-price was set at 7.1151, weaker by 29 pointsOn June 14, the central parity rate of the yuan was 7.1151, down 29 points from 7.1122 in the previous trading day. After Federal Reserve policymakers this week projected only one rate cut this year, UBS economists pushed back their forecast for the first Federal Reserve rate cut to December. Ubs had expected September.
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2024-06-14Freight rates will exceed $20,000 /FFE, and Maersk has announced an increase in FAK rates on European lines to nearly $10,000Spot freight rates continued to surge this week, raising deep concerns among shippers about how much freight rates could rise. However, as for the exact upper limit of freight, no one can give a firm forecast at present. Market analysis generally believes that freight rates will continue to increase until enough shippers transport less cargo due to high freight rates, so as to achieve a balance between container demand and ship capacity. But the exact threshold of this equilibrium point remains unknown. According to Sea-Intelligence analysis, to predict the likely increase in freight rates, reference can be made to the peak level during the pandemic.
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2024-06-13The yuan's mid-price was set at 7.1122, stronger by 11 pointsOn June 13, the central parity rate of the yuan was 7.1122, up 11 points from 7.1133 in the previous trading day. Fed interest rate decision is out! At 2 am Beijing time on Thursday, the Federal Open Market Committee (FOMC) of the Federal Reserve released its June monetary policy resolution and the second economic forecast this year.
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2024-06-13Get rid of dollars and pay directly in yuanRecently, the RMB good news continues, and the de-dollarization has taken a big step forward. Get rid of the US dollar and pay directly in RMB! The third ARJ21 aircraft delivered by China Aircraft Leasing Group to Indonesia's Lingya Airlines has arrived in Jakarta, the capital of Indonesia.
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2024-06-13Global port risk warning, the recent shipment must pay attention to delaysCongestion or affect customer delivery! Recently, due to the strong demand in the container market, the chaos caused by the Red Sea crisis continues, and there are signs of further congestion at ports around the world, according to the weekly report published by the shipping consultancy Linerlytica on June 3, the global container capacity waiting to enter the port rose to 2.1 million TEUs, accounting for 7.1% of the total global container capacity. In addition, several major ports in Europe and the United States are facing the threat of strikes, adding fuel to the already chaotic global shipping fire. Foreign trade people who ship to the following ports must pay attention to the risks of the local port and remind customers in time!
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2024-06-12The mid-price of the yuan was set at 7.1135, weaker by 29 pointsOn June 11, the central parity rate of the yuan was 7.1135, down 29 points from 7.1106 in the previous trading day. Fed expected to hold steady this week! The Fed is widely expected to leave its benchmark interest rate unchanged at the end of its two-day meeting this week, but analysts will be watching closely for any clues on the timing of its first rate cut in four years. Economists generally agreed that Friday's strong May jobs report appeared to close the door for a rate cut at the July meeting. IanPollick, head of fixed income strategy at CIBCCapitalMarkets, said there was no chance the Fed would move this week because Fed officials stressed
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2024-06-11In the first May, China's import and export of goods trade increased by 6.3% year-on-yearBeijing, June 10 (Xinhua) -- The General Administration of Customs recently learned that in the first May of this year, the total value of China's trade in goods was 17.5 trillion yuan, an increase of 6.3%.
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2024-06-06China's overall economic output continues to expand -- Interpreting PMI data in MayAccording to data released by the Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing on May 31, China's manufacturing Purchasing Managers Index (PMI), non-manufacturing business activity index and composite PMI output index were 49.5%, 51.1% and 51.0% respectively in May. Although down 0.9, 0.1 and 0.7 percentage points from the previous month, China's overall economic output continues to expand, and the production and business activities of enterprises maintain a recovery trend.
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2024-05-27The EU car market grew 13.7 percent in April, with electric vehicles accounting for 12 percent of the marketThe European Automobile Manufacturers' Association (ACEA) announced on May 22 that the EU car market grew by 13.7% in April 2024, with a total of 913,995 new registrations. Strong growth was seen in key markets, Spain (+23.1%), Germany (+19.8%), France (+10.9%) and Italy (+7.7%). In the first four months of the year, new car registrations in the EU rose 6.6 percent to nearly 3.7 million. The region's largest markets posted solid growth, with Germany and Spain both Posting growth of 7.8%, followed by France (+7%) and Italy (+6.1%).
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2024-05-20Japan, South Korea, Vietnam, Brazil, Indonesia, Turkey and other countries announced the recent foreign trade situation!South Korea, Japan and other countries exports to maintain the growth trend South Korea: April exports of goods increased by 13.8% year-on-year, driven by strong demand for chips, South Korea's exports in April increased by 13.8% year-on-year to $56.2 billion, seven consecutive months of growth, auto exports also hit a record high. Imports rose 5.4 percent year on year to $54.7 billion, and the trade surplus reached $1.53 billion, the 11th consecutive month of surplus. Japan's exports rose 7.3% in March from a year earlier, the fourth straight month of growth and slightly slower than February's 7.8% growth, according to the finance ministry. Vietnam: Export succession
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2024-05-20Export surge domestic demand to be boosted in April new energy vehicles and domestic brands eye-catching performanceAccording to the latest statistics of the China Association of Automobile Manufacturers, automobile production and sales in April were 2.406 million and 2.357 million, respectively, which declined from the previous month, but showed an increase year-on-year. However, it is worth noting that the current export growth rate of the automobile market is significantly greater than that of domestic sales, showing that there is still a large room for the domestic market to boost. Specific data show that domestic auto sales in April fell 15.4% month-on-month, an increase of 4.1% year on year; The volume of car exports increased by 0.4% month-on-month and 34% year-on-year. From January to April, domestic car sales increased by 5.6% year-on-year, while export volume increased by 33.4% year-on-year. The comparison of this data highlights the domestic automobile market
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2024-05-17In April, China's new energy vehicle production and sales increased by more than 30%According to the "Gongxin Micro News" wechat public account news, in April, China's automobile production and sales completed 2.406 million and 2.355 million, respectively, an increase of 12.8% and 9.3%. Among them, the production and sales of new energy vehicles completed 870,000 and 850,000, respectively, an increase of 35.9% and 33.5%. In April, the production and sales of automobiles were 2.406 million and 2.355 million, respectively, up 12.8% and 9.3% year-on-year. From January to April, the production and sales of automobiles were 9.012 million and 9.079 million, respectively, up 7.9% and 10.2% year-on-year. (1) Passenger car sales in April increased by 10.5% year-on-year in April, by
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2024-06-11China's import volume of integrated circuits increased for 5 consecutive monthsAccording to the statistics of the General Administration of Customs, in the first five months of 2024, China's integrated circuit imports increased by 13.1% year-on-year to 148.06 billion US dollars, which increased for five consecutive months, accounting for 13.9% of China's imports of goods, which increased from 12.7% in the same period last year. Imports rose 14.9 percent year on year to 213.65 billion yuan, the eighth consecutive month of year-on-year growth.
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2024-06-04China's bicycle export "volume increase price decrease", the future export growth power is insufficientAccording to the statistics of the General Administration of Customs, in the first four months of 2024, China's bicycle exports totaled 955 million US dollars, down 7.8% year-on-year; The cumulative export volume was 15.34 million, up 26.1% year-on-year. China's exports to the United States, Vietnam, Russia, Iran, Mexico and other markets increased year-on-year. From the monthly data point of view, from January to February, based on the main export market to replenish inventory, exports in 23 consecutive months after the decline ushered in a small growth, up 9.6% and 2% respectively; From March to April, exports continued to decline, falling 26.2% and 8.3% respectively from a year earlier.
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2024-04-29Global electricity demand is picking up, driving our motor exports back to growthAccording to the statistics of the General Administration of Customs, in the first quarter of this year, China's motor exports grew 2.3% to 3.7 billion US dollars, the growth rate rose 10.3 percentage points over the same period last year, the export growth rate rose mainly due to the growth of global power demand. According to customs data, exports from Asia, Europe and North America accounted for 85.4% of China's total exports of small and medium-sized motors. Among them, thanks to the demand of South Korea, Vietnam, Thailand and other markets, the export value of our motor products to Asia increased by 7.5% year-on-year to 1.63 billion US dollars.
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2024-04-12In the first quarter of 2024, China's exports of mechanical and electrical products increased by 3.3% year-on-year to $477.72 billion● The import and export growth rate was higher than the statistics of the General Administration of Commodity Customs, in the first quarter of 2024, the import and export value of China's mechanical and electrical products increased by 4.1% to 695.23 billion US dollars. Among them, the export of US $477.72 billion, an increase of 3.3%, 1.8 percentage points higher than the total export of goods; Imports reached US $217.51 billion, up 6.0% year-on-year.
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2024-04-11Sluggish global demand has dragged down the volume of mobile phone exports in a continuous decline - Analysis of China's mobile phone exports in 2023In 2023, due to the slowdown in the iteration of smart phone technology, the sluggish global demand for mobile phones caused by the economic downturn, and the impact of supply and demand such as the outflow of order capacity caused by the transfer of the main manufacturers' supply chain, China's mobile phone export volume has declined continuously. However, benefiting from the strong emerging demand and accelerating the inventory progress of manufacturers' channels, it is expected that 20...
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2024-04-10The position of dominant ship type was consolidated, and the annual export volume increased by 20% | Analysis of China's ship import and export in 2023In 2023, in the context of the difficult recovery of the world economy, under the guidance and support of relevant national industrial policies and measures, China's shipbuilding industry has maintained a good momentum of development, steady progress, the three major indicators of shipbuilding have achieved comprehensive growth, and the international market share continues to maintain the world's leading. In the ship import and export trade, continue to consolidate and...
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