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Short news quick reads 28/10/2024
- State Administration of Foreign Exchange: The rise of the RMB is average globally, with a mild impact on imports and exports.
- Guangdong’s foreign trade grew by 11.1% year-on-year in the first three quarters, reaching a record high for the same period.
- 136th Canton Fair Phase One report: Over 130,000 overseas buyers attended in person, a 4.6% increase from the previous session.
- 136th Canton Fair Phase Two: Green and low-carbon trends lead foreign trade; major appliance companies focus on smart and green innovations, aiming for overseas brand upgrades.
- From January to September 2024, motorcycle exports reached $779 million, a 21.24% year-on-year increase.
- Zhejiang wooden flooring is popular overseas, expanding into the Belt and Road markets.
- Zhejiang’s import and export value reached 3.93 trillion yuan in the first three quarters, a 6.7% increase year-on-year.
- Zhejiang’s Department of Commerce and 15 other departments issued opinions to promote used car exports, aiding the development of a new automotive industry structure.
- Hong Kong’s reduction in liquor tariffs may boost the overseas market for Chinese spirits.
- The EU’s new harmonized standard for goggles will be mandatory from November 11, 2024.
- The EU concluded the second anti-dumping sunset review on Chinese aluminum radiators.
- In September, hybrid cars accounted for 32.8% of the EU market share, surpassing gasoline cars for the first time.
- Colombia raised tariffs on cheap steel imports from China.
- Japan’s imports of computer products surged, with companies considering building data centers near nuclear plants.
- The yen may drop over 6% against the dollar this month, marking the largest monthly decline since April 2022.
- The U.S. Department of Commerce plans to partially revoke anti-dumping and countervailing duties on Chinese solar cells.
- The U.S. International Trade Commission (ITC) concluded sunset reviews on Chinese steel wheels and cast iron sewage pipes.
- The Canadian government allows companies to apply for tariff exemptions on Chinese electric vehicles and steel and aluminum products.
- India to restrict laptop and mobile phone imports from next year to promote “Make in India.”
- Brazil’s Foreign Trade Bureau to increase import tariffs on 11 types of steel products.
- Algeria allows the import of used industrial and agricultural equipment but bans imports of used cars under three years old.
- South Korea’s export growth slows, with October’s first 20 days showing a 40% drop in oil exports and a 36.1% increase in semiconductors.
- Kazakhstan to ban apple imports from third countries by the end of 2024.
- Russian parents’ online purchases of children’s products increased 1.5 times compared to last year.
- Russia approved the import of products from several Chinese companies, including fish collagen, fish collagen peptides, and gelatin.
- Import volumes surge, setting new records at the ports of Los Angeles and Long Beach.
- Maersk to impose peak season surcharges on shipments from Chile and Peru to Asia.
- Port of Chittagong in Bangladesh and Port Santos in South America face strike threats.
