Analysis of U.S. apparel and home furnishing retail and import data for December 2023
February 2, 2024
According to recent data released by the U.S. Department of Labor, the U.S. apparel retail sector showed continued improvement in December 2023, while home consumption experienced a noticeable decline. This change reflects adjustments in consumer spending habits and shifts in market dynamics.
New foreign trade regulations to be implemented in February 2024 and their impact
1 February 2024
With the arrival of February 2024, a series of new rules that have far-reaching effects on foreign trade have officially entered into force. These new rules not only involve chemical import and export management, industrial structure adjustment, geographical indication product protection, but also include the mutual visa exemption agreement with Singapore, anti-dumping investigations, facilitating measures for foreigners to come to China, and the update of the foreign trade and foreign investment tax policy guidelines.
Chinas magnesium metal exports will drop sharply in 2023
January 31, 2024
In December 2023, both the quantity and value of Chinas exported magnesium metal products declined. According to the statistics of the Chinese Customs, the export volume in that month was 35,600 tons, a month - on - month decrease of 5.6% and a year - on - year decrease of 10.1%; the export value was 113 million US dollars, a month - on - month decrease of 8.1% and a year - on - year decrease of 28%. Throughout 2023, Chinas performance in the global magnesium metal market also showed a similar downward trend...
EU suspends WTO trade case against China over Lithuania dispute
January 30, 2024
According to a report by EFE on January 26, the European Union has decided to suspend its lawsuit against China at the World Trade Organization (WTO), which involves Chinas trade restrictions on Lithuania. This decision was made after the Taiwan region of China opened a so-called representative office in Lithuania in 2021. According to the latest news from Hong Kongs South China Morning Post, the EU has informed WTO members...
Shanghais import unit price of semiconductor equipment will increase in 2023
26 January 2024
In 2023, the city of Shanghai showed a significant high-value trend in the import of machine equipment for the manufacture of semiconductor devices or integrated circuits. According to data released by the Shanghai Customs, a total of 1851 related equipment was imported throughout the year, with a total value of $43,2 billion, with an average single price of $233 million each, which is not only higher than the average single price at the Shanghai port, but also slightly higher than the national average.
Chinese automobiles have achieved significant growth and breakthroughs in cooperation in the South African market
24 January 2024
Recently, the data released by the South African National Automobile Manufacturers Association showed that in the first three quarters of 2023, the sales of Chinese brand cars in the South African market have exceeded 22,000 units, compared with the growth rate of many European and American automobile brands, such as Mercedes, BMW, etc. In the top 10 automobile brands in South Africa, two are from China.
France ranks first in Europe in electricity exports
23 January 2024
In the context of Germany’s shutdown of nuclear power plants and the abandonment of Russian natural gas, France is entering its new era as the “Europe’s first electricity exporter.” According to the latest study of the International Organization for Standardization, Global Commodity Insights, France’s electricity exports reached an astonishing 50.1 TWh in 2023, surpassing Sweden’s record in 2022.
World economy slowdown is expected, Chinas economy injects momentum to the global
22 January 2024
According to the latest Chief Economists Outlook Report released by the World Economic Forum, the global economic growth rate in 2024 is expected to slightly decrease from 3% in 2023 to 2.9%. Against this backdrop, Chinas steady economic recovery and continuous positive trend have attracted global attention. Global economic growth expectations decline In 2023, the global economy showed a trend of weak recovery, said Chinas policy science...
China-Switzerland FTA upgrade negotiations launched to promote bilateral trade and investment cooperation
19 January 2024
Xinhua News Agency recently reported that China and Switzerland announced the completion of a joint feasibility study on the upgrade of the China-Switzerland Free Trade Agreement (FTA) and agreed to support the formal launch of upgrade negotiations as soon as possible. This move marks a new stage in the trade relations between the two countries and indicates that their economic cooperation will further deepen. Meanwhile, China will grant unilateral visa-free treatment to Switzerland, and Switzerland will also provide...
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