Factors behind the recent rebound of the RMB exchange rate
6 July 2023
Recently, the RMB exchange rate showed a strong rebound momentum. On July 4, 2023, the shore RMB-USD closing price was 7,2161, while the offshore RMB-USD rebounded by 7,22 points and rose by 300 points within the day. The three-day rise in a row made the average price of the RMB-USD on July 5 rise by 78 basis points, on July 7, 1968.
The impact of the EU carbon border adjustment mechanism and the coping strategies of Chinese exporters
5 July 2023
The European Union’s Carbon Border Regulation Mechanism (CBAM), also known as the Carbon Border Tax or Carbon Tariff, is a tax imposed by the EU on the carbon emissions of some imported goods.
Vietnams electronics manufacturing industry is in trouble due to shrinking global demand and shortage of parts
5 July 2023
The shockwaves of declining global electronics demand are having profound impacts on Vietnams tech manufacturing sector. According to tech news website Rest of World, in recent years, major international electronics companies like Samsung and Apple have employed tens of thousands of workers in Vietnamese factories. However, with the decrease in global electronics demand and the procurement of components...
My country has completed the Information Technology Agreement and the tariffs on 62 tax items have been reduced to zero.
4 July 2023
Starting July 1, China began implementing the eighth step of tariff reductions on products under the expanded Information Technology Agreement (ITA), marking the completion of all tariff reduction commitments under this agreement. This move has triggered significant transformations in the information technology industry, bringing notable synergistic effects to global economic growth and innovative development.
New global foreign trade regulations in July 2023: Trade changes between China and the world
3 July 2023
In todays globalized world, trade relations between countries are becoming increasingly close. However, with adjustments in national economic policies, the introduction of new foreign trade regulations continues to influence the global trade landscape. This article will detail the content of global foreign trade regulations in July, 2023, and how these new regulations affect trade relations between China and the world.
Major North American ports to hold a major strike starting July 1, 2023, which may affect the global supply chain
3 July 2023
On June 28, 2023, the International Longshore and Warehouse Union Canada (ILWU Canada) issued a 72-hour strike notice to the British Columbia Maritime Employers Association (BCMEA), announcing a strike starting at 8:00 AM on July 1, 2023. This strike will affect over 30 ports in British Columbia involving approximately 7,400 dockworkers and 49 employers and operators, including...
The United Nations report reveals that global trade rebounded in the first quarter of 2023, and China and Indias export performance was eye-catching.
30 June 2023
The latest "Global Trade Update" report released by the United Nations Conference on Trade and Development (UNCTAD) indicates that both global trade in goods and services showed positive growth in the first quarter of 2023. This growth is particularly notable following the downturn experienced in the second half of 2022. According to the report's data, global merchandise trade increased by 1.9% in the first three months of 2023 compared to the fourth quarter of 2022...
Abnormal global climate drives agricultural product prices up: impacts on economic and financial stability and responses
29 June 2023
Unusually high temperatures and dry weather worldwide have recently triggered a massive rise in international agricultural futures prices. According to the latest forecast by the World Meteorological Organization (WMO), the likelihood of an El Ni?o phenomenon between June and August 2023 is almost 70%, which could mean that this summer will be warmer.
Indonesia to ban copper exports to promote the development of domestic metal processing industry
28 June 2023
Indonesian President Joko Widodo recently announced that the country will soon stop exporting raw copper and instead process it into cathode copper domestically. Behind this decision is the Indonesian governments continuous push to enhance the domestic resource processing value chain. It is understood that Freeport Indonesia and Amman Mining...
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