This article was first published in WingTra (ID: ChinaWingtra), an expert in cross-border chain intelligent solutions.
The Federal Reserve paused its interest rate hikes
On December 13, the US Federal Reserve concluded its two-day monetary policy meeting and decided to maintain 525% to 5The benchmark overnight borrowing rate range of 5% remains unchanged. Affected by this news, comex*** once rose more than 25%, breaking through the $2,000 mark again.
Affected by the Fed's signal that interest rate hikes are over, the RMB exchange rate against the US dollar rose above 7 in both the onshore and offshore markets13 passes. On December 14, the spot exchange rate of RMB against the US dollar was reported at 7 at 16:301301, up 535 basis points from the previous trading day, and the highest intraday rose to 71265, a new high for the month.
The National Standing Committee deploys the integration of domestic and foreign trade
On December 11, the General Office issued the "Several Measures to Accelerate the Integrated Development of Domestic and Foreign Trade", which put forward 18 measures from five aspects, including promoting the convergence and integration of domestic and foreign trade rules and systems, promoting the docking of domestic and foreign trade market channels, optimizing the development environment for the integration of domestic and foreign trade, accelerating the integrated development of domestic and foreign trade in key areas, and increasing financial support.
The executive meeting held on December 1 mentioned "accelerating the integrated development of domestic and foreign trade", emphasizing the need to benchmark against the international advanced level, accelerate the adjustment and improvement of relevant domestic rules, regulations, management, standards, etc., promote the convergence of domestic and foreign trade standards, inspection and certification, and supervision, and promote the same line, same standard and same quality of domestic and foreign trade products.
The United Kingdom conducted a double anti-dumping investigation of excavators from China
According to the Relief Agency (TRA), an anti-dumping and countervailing duty investigation has been initiated into excavators imported from China. The investigation was in response to two applications from JCB, a Staffordshire-based multinational conglomerate.
TRA will investigate whether these imports are dumped or subsidized and whether they cause injury to JCB's business and UK industry. If the TRA recommends that a remedial measure is necessary, the relevant economic benefit test will be conducted.
China-Australia Customs AEO Mutual Recognition was officially implemented
In November 2017, the customs offices of China and Australia officially signed the Arrangement between the General Administration of Customs of the People's Republic of China and the Australian Immigration and Border Protection Agency and Border Enforcement Agency on Mutual Recognition of China's Customs Enterprise Credit Management System and Australia's Honest Business Program, which will come into effect on December 14, 2023.
The following customs clearance facilitation measures will be given to each other's AEO enterprises: speeding up customs clearance by reducing document review and physical goods inspectionPriority inspection will be given to goods that need to be physically inspected;Consideration is given to the qualifications of AEO enterprises when conducting risk assessments;Designated customs liaison officer, responsible for communicating and dealing with the problems encountered by AEO enterprises in customs clearance;Committed to providing expedited customs clearance after the international** disruption and recovery.
Maersk imposes a surcharge on Israeli goods to cover insurance
Maersk said on December 14 that it will impose a risk surcharge (ERS) on container shipments to Israel next year to compensate for the constant insurance costs due to premiums due to security conditions.
Maersk said that from January 8, customers will face a surcharge of $50 for 20ft containers, while a surcharge of $100 for 40ft and 45ft containers.
MSC will raise freight rates from January next year
A few days ago, MSC, the world's largest class company, announced that it would raise the FAK rates of the Far East to Northern Europe, the Far East to the Western Mediterranean-Eastern Mediterranean-Adriatic-Black Sea, and the Far East to Australia and New Zealand routes from January 1, 2024.
In early December, a number of shipping companies, including Maersk, CMA CGM, Hapag-Lloyd, etc., announced a new round of price increase plans, notifying that they will significantly increase the FAK rate from Asia to Northern Europe and the Mediterranean route from January 1, 2024.
Lazada received an additional investment of more than US$600 million from Alibaba
Recently, Lazada, a Southeast Asian e-commerce company, has obtained 6$3.4 billion in capital. It is reported that the funding comes as Alibaba continues to evaluate and adjust its strategy, with Alibaba injecting more than $1.8 billion into Lazada this year.
According to statistics, Alibaba injected $1 billion and $2 billion into Lazada in 2017 and 2018, respectively. In 2022, Alibaba injected a total of $1.6 billion into Lazada in three tranches. So far, Alibaba has injected more than $7.4 billion into Lazada over the years.
TikTok Shop's 12.12 cross-border GMV increased by 493% year-on-year
tiktok shop southeast asia cross-border 12The 12 major promotions ended, compared with the same period in December last year: cross-border GMV increased by 493%, cross-border GMV completion rate increased by 108%, and cross-border single-day outbreaks increased by 580%.
GMV increased by 925% in Thailand, 614% in Vietnam, 444% in Malaysia, 377% in the Philippines and 152% in Singapore.
During the big promotion, the number of TikTok Shop live broadcasts exceeded 200 million, and the number of short broadcasts exceeded 1 billion.
The European Union has published a new version of the energy efficiency regulation requirements for household dryers
On November 22, the European Union officially released the latest revised version of the eco-design regulation for household clothes dryers EU 2023 2533. This marks that since its launch in 2019, after several rounds of technical discussions and discussions by the European Commission, stakeholders have reached a consensus, and the new version of the energy efficiency regulation for household dryers has been successfully upgraded and released as scheduled.
Compared to the previous versions of the regulations EU 932 2012 and EU 392 2012, the new version of the energy efficiency regulations for household dryers has made changes to several aspects of the product and the performance level requirements have also changed. Combined with the EU 2023 2534, which has been formulated by the EU on July 13, 2023, the EU has formed a complete new version of the household dryer energy efficiency regulation and control system.
Argentina will devalue the peso by 54% in the new **
Argentina's new Minister of Economy Luis Caputo announced a new economic deal on the 12th, aiming to reduce the fiscal deficit and control inflation. According to the new policy, the official exchange rate of the Argentine peso against the US dollar will be adjusted to 800 pesos to 1 US dollar, and the exchange rate will close at 365 per US dollar on the same day5 Argentine pesos, that is, the official exchange rate of the Argentine peso depreciates by more than 50%.
Argentina's new** lowered the official exchange rate to 800 pesos per dollar, depreciating the peso by 54% and easing import controls. This is the first wave of measures for Argentina's new ** Milley to launch the "shock**".
Vietnam will raise the effective tax rate for large foreign companies from next year
Vietnam's National Assembly passed a resolution on December 13 on the imposition of additional corporate income tax in accordance with the provisions for the prevention of global base erosion (global minimum tax rate). According to reports, Vietnam will significantly increase the effective tax rate of multinational companies such as Samsung and Intel from January 1 next year, from a minimum of 5% to 15%.
The new law will come into force from January 1, 2024 and will apply to a combined turnover of at least 7500 million euros of foreign companies investing in Vietnam. Vietnam's corporate tax rate is 20%, but for many years it has been leviing an effective tax rate as low as 5% and a long zero-tax period for large foreign companies.
India borrows quality certification card for Chinese products
According to Indian media reports, India** is using quality control orders to "slowly" certify the quality of products produced in Chinese factories, thus putting pressure on multinational companies that rely on Chinese factories. According to the report, the ultimate goal of India is to ask them to reduce their dependence on Chinese imports and instead produce in India.
According to the Quality Control Order, the product in question and its components need to be manufactured in a factory certified by the Bureau of Indian Standards, regardless of whether the factory is domestically or abroad. Each plant needs to be individually certified, even if they belong to the same manufacturer. Currently, the QO covers more than 500 products such as footwear, toys and air conditioners.
Dubai International Wood & Woodworking Machinery Exhibition
Exhibition time: March 5-7, 2024.
Exhibition venue: Dubai World ** Center, United Arab Emirates.
It is the only professional woodworking and furniture accessories exhibition in the Middle East, bringing together many world-renowned associations, and is an annual industry exhibition for woodworkers in the Middle East.
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