Canton Fair Phase Two: Green Trends Dominate, Appliance Brands Aim for Overseas Upgrade

Short news quick reads 28/10/2024

1. State Administration of Foreign Exchange: The rise of the RMB is average globally, with a mild impact on imports and exports.
2. Guangdong’s foreign trade grew by 11.1% year-on-year in the first three quarters, reaching a record high for the same period.
3. 136th Canton Fair Phase One report: Over 130,000 overseas buyers attended in person, a 4.6% increase from the previous session.
4. 136th Canton Fair Phase Two: Green and low-carbon trends lead foreign trade; major appliance companies focus on smart and green innovations, aiming for overseas brand upgrades.
5. From January to September 2024, motorcycle exports reached $779 million, a 21.24% year-on-year increase.
6. Zhejiang wooden flooring is popular overseas, expanding into the Belt and Road markets.
7. Zhejiang’s import and export value reached 3.93 trillion yuan in the first three quarters, a 6.7% increase year-on-year.
8. Zhejiang’s Department of Commerce and 15 other departments issued opinions to promote used car exports, aiding the development of a new automotive industry structure.
9. Hong Kong’s reduction in liquor tariffs may boost the overseas market for Chinese spirits.
10. The EU’s new harmonized standard for goggles will be mandatory from November 11, 2024.
11. The EU concluded the second anti-dumping sunset review on Chinese aluminum radiators.
12. In September, hybrid cars accounted for 32.8% of the EU market share, surpassing gasoline cars for the first time.
13. Colombia raised tariffs on cheap steel imports from China.
14. Japan’s imports of computer products surged, with companies considering building data centers near nuclear plants.
15. The yen may drop over 6% against the dollar this month, marking the largest monthly decline since April 2022.
16. The U.S. Department of Commerce plans to partially revoke anti-dumping and countervailing duties on Chinese solar cells.
17. The U.S. International Trade Commission (ITC) concluded sunset reviews on Chinese steel wheels and cast iron sewage pipes.
18. The Canadian government allows companies to apply for tariff exemptions on Chinese electric vehicles and steel and aluminum products.
19. India to restrict laptop and mobile phone imports from next year to promote “Make in India.”
20. Brazil’s Foreign Trade Bureau to increase import tariffs on 11 types of steel products.
21. Algeria allows the import of used industrial and agricultural equipment but bans imports of used cars under three years old.
22. South Korea’s export growth slows, with October’s first 20 days showing a 40% drop in oil exports and a 36.1% increase in semiconductors.
23. Kazakhstan to ban apple imports from third countries by the end of 2024.
24. Russian parents’ online purchases of children’s products increased 1.5 times compared to last year.
25. Russia approved the import of products from several Chinese companies, including fish collagen, fish collagen peptides, and gelatin.
26. Import volumes surge, setting new records at the ports of Los Angeles and Long Beach.
27. Maersk to impose peak season surcharges on shipments from Chile and Peru to Asia.
28. Port of Chittagong in Bangladesh and Port Santos in South America face strike threats.