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Economic and trade headlines

  • The mid-price of the yuan was set at 7.1248, weaker by 23 points

    On June 26, the central parity rate of the yuan was 7.1248, down 23 points from 7.1225 in the previous trading day.

    Source: Sina Finance 2024-06-26
  • Eu imposes sanctions on 19 Chinese companies, Foreign Ministry says

    In addition, according to the global network reported that Reuters released "exclusive news" on the 24th, three people familiar with the matter said that the Biden administration is investigating the risk of China Mobile, China Telecom and China Unicom three Chinese telecom operators, claiming that the move is due to concerns that these companies use cloud and Internet business in the United States to obtain U.S. data and submit the data to China.

    Source: Shipping Network 2024-06-26
  • The maximum tariff of 100% was imposed, and our cars were blocked in overseas countries

    Europe and the US wield the "tariff stick"! Last year, China's auto exports crossed two million steps (from the 3 million level to the 5 million level), vaulting to the top of the world for the first time, reaching 5.221 million units, an increase of 57.4 percent year-on-year. Among them, new energy vehicles as an important growth pole, the export volume in 2023 reached 1.773 million, an increase of 67.1%. With the increase in the number of exports, Europe and the United States began to spread the threat of China's electric vehicles and brandishing the "big stick of tariffs." On May 14, the White House announced tariffs on a range of Chinese goods, including solar cells, electric cars, computer chips and medical products.

    Source: Focus horizon 2024-06-26
  • Yen plummets

    The Bank for International Settlements (BIS) said the "real effective exchange rate", which reflects the international value of the yen, fell to a record low of 68.65 in May, Kyodo news agency reported.

    Source: Foreign Toast Information 2024-06-26
  • In the first five months of 2024, the value of Vietnam's foreign trade imports and exports increased by 16% year-on-year

    Vietnam's "Vietnam Economy" reported on June 15: According to statistics released by the General Administration of Customs of Vietnam on June 14, in the first five months of 2024, Vietnam's national imports and exports of goods reached 303.95 billion US dollars, an increase of 16% year-on-year, equivalent to an increase of 42 billion US dollars over the same period last year. Among them, the import and export value of foreign-funded enterprises reached US $205.44 billion, up 13.7 percent year-on-year.

    Source: Economic and Commercial Section of the Embassy of the Socialist Republic of Vietnam 2024-06-26
  • Turkey's consumer price index rose 75.45% in May from a year earlier

    According to the data released by the Turkish Statistics Bureau on June 3 local time, the consumer price index (CPI) in Turkey in May this year rose 75.45% from the same period last year.

    Source: CCTV News 2024-06-26
  • Another well-known freight forwarder is to be acquired by a logistics giant

    On June 24, the website of the second Division of Anti-monopoly Law Enforcement of the State Administration of Market Regulation publicized the "Dubai World Port Logistics Free Zone Company's acquisition of Jiahong Sea Shipping Co., LTD.

    Source: Freight forwarder foreign trade warning information window 2024-06-26
  • The Bank of England left its benchmark interest rate unchanged at 5.25%

    June 20, the Bank of England maintained the benchmark interest rate unchanged at 5.25%, in line with market expectations, which is the seventh consecutive time that the Bank of England has kept interest rates unchanged.

    Source: Financial Union 2024-06-26
  • The central parity rate of the yuan was set at 7.1225, weaker by 24 points

    On June 25, the central parity rate of the yuan was 7.1225, down 24 points from 7.1201 in the previous trading day.

    Source: Sina Finance 2024-06-25
  • [USD] The US index is likely to continue its current upward trend

    Us retail sales data for May rose 0.1% m/m, below market expectations of 0.3% and up from the previous -0.2%. Among them, gasoline and food services spending fell sharply, or indicating a short-term slowdown in the spending power of U.S. consumers;

    Source: Huijin Tianlu public number 2024-06-25