China announced unilateral visa waivers for six countries
According to the announcement of the spokesperson on November 24, China** decided to try out the policy of expanding the scope of unilateral visa-free countries. From 1 December 2023 to 30 November 2024, China will try a unilateral visa exemption policy for ordinary passport holders from France, Germany, Italy, the Netherlands, Spain and Malaysia.
This means that holders of ordinary passports from the above-mentioned countries can enter China for business, tourism, visiting relatives and friends, or transit during the aforementioned period for a stay of up to 15 days without visa formalities.
The central banks of China and Saudi Arabia signed a bilateral currency swap agreement.
The People's Bank of China and the Saudi ** Bank recently signed a bilateral local currency swap agreement based on *** approval. Under the agreement, the parties agreed to swap SAR 50 billion and SAR 26 billion, with a validity period of three years and the possibility of extension by mutual agreement.
The central bank said that the establishment of this bilateral local currency swap arrangement between China and Saudi Arabia will help strengthen financial cooperation between the two countries and promote the use of local currencies between China and Saudi Arabia to promote the facilitation of investment between the two sides.
The Export-Import Bank of China cooperates with Thai and Turkish banks.
Recently, the Export-Import Bank of China plans to sign cooperation agreements with the Export-Import Bank of Thailand and the Export-Import Bank of Turkey, aiming to carry out comprehensive and multi-field substantive cooperation.
Through cooperation models such as credit framework agreements, export buyer's credit, first-class finance and third-party markets, the three parties will jointly support projects in Thailand, Turkey and other countries participating in the Belt and Road Initiative in important areas such as infrastructure, energy, green and low-carbon development. The aim of this cooperation is to promote practical cooperation between the two sides and to provide support to countries that are jointly building the Belt and Road Initiative.
Indonesia imposes import taxes on watches and cosmetics.
According to Indonesian Ministry of Finance Regulation No. 96 2023, Indonesia has decided to impose additional import duties on four categories of goods, including bicycles, watches, and cosmetics. From October 17, 2023, a new tariff of 10% to 15% will be imposed on cosmetics, 25% to 40% on bicycles, 10% on watches, and up to 20% on steel products.
In addition, the new regulations also require e-commerce companies and merchants to share information on imported goods with the General Administration of Customs, including the names of companies and sellers, as well as the category, specification and quantity of imported goods.
These new tariffs are in addition to the tariff provisions of the first half of the Ministry. Under this regulation, three categories of goods, including footwear, textiles and handbags, have been subject to import duties of up to 30%.
Manufacturing subsidies.
The United Kingdom** released the "Advanced Manufacturing Plan" on November 26, with a planned investment of 4.5 billion pounds (about 405 yuan.)$3.6 billion) to further promote the development of strategic manufacturing sectors such as automotive, hydrogen and aerospace, and create more jobs through this initiative.
South Korea plans to cut import tariffs on 76 items.
In order to enhance industrial competitiveness and reduce the price burden, South Korea will reduce import tariffs on 76 industrial products and food products from January 1 next year.
The main commodities involved include quartz glass substrates, lithium-nickel-cobalt-manganese oxides, aluminum alloys, nickel ingots, disperse dyes, and corn for feed. This initiative aims to promote the development of consumer goods.