It introduces the situation and the reasons behind the decision of the Bureau of Industry and Security of the US Department of Commerce to include 13 Chinese enterprises in the entity list.
On October 17, an important free trade agreement was officially signed between the Government of the Peoples Republic of China and the Government of the Republic of Serbia. This milestone agreement marks a new phase in economic and trade relations between China and Central and Eastern European countries.
After nearly a decade of stagnation, Italys solar PV market is finally showing signs of revival. In 2022, the country added 2.4GW of new capacity, a figure unimaginable in the first decade of the 21st century. In 2023, this number is expected to double again.
According to the latest data from the Shanghai Customs, in September 2024, Shanghais exports to Russia decreased by 4.3% year - on - year and 20% month - on - month, ending the continuous growth momentum since May. Nevertheless, from January to September, the total value of Shanghais import and export trade with Russia still achieved a 13.7% growth, demonstrating the resilience and potential of Chinas foreign trade.
Saudi Arabia is expected to see a 1.6% GDP growth this year, increasing to 4.9% by 2025, making it the fastest - growing economy in the Gulf region. This is mainly due to its diversification strategy, including strengthening the manufacturing, logistics and trade industries, as well as deepening cooperation with China. The establishment of the Saudi - China Special Economic Zone, the continuous increase in bilateral trade volume between Saudi Arabia and China, and the application of the RMB in crude oil settlement and other measures indicate broad prospects for future cooperation between the two countries.
The Canadian government has launched a new procedure allowing enterprises to apply for tariff reduction on imported Chinese electric vehicles, steel and aluminum products, etc., to help enterprises cope with supply chain challenges.
Due to ongoing strikes at U.S. East Coast and Gulf Coast ports, severe congestion has led to significantly prolonged cargo handling times and a sharp increase in vessel wait times, posing serious challenges to the global shipping market. In response, MSC and Maersk recently announced the cancellation of 4 Asia-to-U.S. East Coast and Gulf Coast sailings to alleviate operational pressures caused by port congestion.
Recently, the Government of the Hong Kong Special Administrative Region announced that starting from October 16, a tax reduction policy will be implemented for spirits with an import price of over HK$200, reducing the tax rate from 100% to 10%. Industry insiders believe that this move is expected to make Hong Kong a new trading center for imported spirits such as whisky and brandy in Asia. Some of the demand for imported spirits in the Chinese mainland may shift to the Hong Kong market, but the issue of parallel traders still needs to be paid attention to.
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