Foreign traders, please check: Review and Outlook of One Week's Hot News (7.15-7.21)

01Industry News

General Administration of Customs: the first half of the import and export of private enterprises 11.64 trillion yuan, up 11.2 percent

General Administration of Customs data show that in the first half of the year, private enterprises import and export 11.64 trillion yuan, an increase of 11.2%, accounting for 55% of the total value of my foreign trade, compared with the same period last year to improve 2.5 percentage points. Among them, exports 7.87 trillion yuan, an increase of 10.7%, accounting for 64.9% of the total value of my exports; imports 3.77 trillion yuan, an increase of 12.3%, accounting for 41.8% of the total value of my imports. During the same period, foreign-invested enterprises import and export 6.17 trillion yuan, an increase of 0.2%, accounting for 29.1% of the total value of my foreign trade. Among them, exports 3.31 trillion yuan, down 0.1%; imports 2.86 trillion yuan, up 0.5%. State-owned enterprises import and export 3.31 trillion yuan, an increase of 1.2%, accounting for 15.6% of the total value of my foreign trade. Among them, exports were 931.28 billion yuan, up 1.9 percent; imports were 2.37 trillion yuan, up 1 percent.
Source: Caixin News Agency

General Administration of Customs: the total value of trade between China and ASEAN in the first half of the year was 3.36 trillion yuan, an increase of 10.5 percent

General Administration of Customs data show that in the first half of the year, ASEAN is my largest trading partner, I trade with ASEAN total value of 3.36 trillion yuan, an increase of 10.5%, accounting for 15.9% of the total value of my foreign trade. Among them, exports to ASEAN 2.03 trillion yuan, an increase of 14.2%; imports from ASEAN 1.33 trillion yuan, an increase of 5.2%; trade surplus of 699.49 billion yuan with ASEAN, expanding 36.5%. The EU is my second largest trading partner, the total value of my trade with the EU was 2.72 trillion yuan, down 0.7%, accounting for 12.8%. Among them, exports to the EU 1.78 trillion yuan, an increase of 0.5%; imports from the EU 938.87 billion yuan, a decline of 2.9%; trade surplus of 837.67 billion yuan with the EU, expanding 4.6%. The United States is my third largest trading partner, the total value of my trade with the United States was 2.29 trillion yuan, an increase of 2.9%, accounting for 10.8%. Among them, exports to the United States 1.71 trillion yuan, an increase of 4.7%; imports from the United States 577.97 billion yuan, a decline of 2%; trade surplus with the United States 1.14 trillion yuan, an expansion of 8.4%. South Korea for my fourth largest trading partner, my trade with South Korea totaled 1.13 trillion yuan, an increase of 7.6%, accounting for 5.3%. Among them, exports to South Korea 516.95 billion yuan, down 0.6%; imports from South Korea 609.02 billion yuan, an increase of 15.7%; trade deficit with South Korea 92.07 billion yuan, expanding 14.3 times. During the same period, China's total import and export to countries building the “Belt and Road” amounted to 10.03 trillion yuan, an increase of 7.2%. Among them, exports amounted to 5.62 trillion yuan, up 8.4 percent, while imports amounted to 4.41 trillion yuan, up 5.8 percent.
Source: Caixin News Agency

U.S. to impose additional high “port call fees” on all Chinese-made container ships

Following U.S. President Joe Biden's announcement in February of this year to block China's port cranes, in June, rumors of security and monopoly reasons for investigating Chinese-made container containers, the U.S. once again on China's ports and shipping manufacturing neighborhoods to make trouble, and another union proposal aimed at weakening China's growing dominance in the maritime, logistics and shipbuilding industries has received bipartisan support from U.S. Congressmen, which proposes to charge additional fees on all Chinese-made container ships calling at U.S. ports. Another union proposal aimed at undermining China's growing dominance in the maritime, logistics and shipbuilding industries has received bipartisan support from members of the U.S. Congress, which proposes to impose an additional “Port Fee” on all Chinese-built container ships calling at U.S. ports.
In the first half of 2024, China's shipbuilding industry outpaced South Korea and Japan in the global newbuilding market with a market share of more than 60 percent. The People's Daily Overseas Edition quoted the Wall Street Journal website as stating, “China has become the world's number one shipbuilding country by a wide margin.”
Source: One Shipping

Translated with DeepL.com (free version)

US pet supply chain Pet Supplies Plus 730 stores

US pet supplies chain Pet Supplies Plus is pushing hard to grow the number of its Pet Supplies Plus retail stores and its Wag N' Wash pet wash service franchise franchise.
Pet Supplies Plus and Wag N' Wash each achieved double-digit mid-year growth, realizing 23 franchise agreements and 16 new store openings, respectively, bringing their total number of stores to 730 and 24 in 43 U.S. states.Overall, the stores expect to realize a total of 70 franchise agreements and open at least 45 stores by year-end.
Livonia, Michigan-based Pet Supplies Plus' growth has been fueled by the growing pet industry.According to the American Pet Supplies Association, 66% of U.S. households (approximately 86.9 million families) own a pet.Dogs are the most popular pet in the U.S. (65.1 million U.S. households own a dog), followed by cats (46.5 million households) and freshwater fish (11.1 million households.) In 2022, Americans spent $136.8 billion on their pets, an increase of nearly 11% from 2021.
Source: DecoTronics

New Zealand reaches new deal to eliminate key export tariffs on 41 timber products and more

New Zealand's Minister of Trade and Agriculture, Todd McLay, has announced that New Zealand has joined Costa Rica, Iceland and Switzerland in signing a landmark trade agreement, the Agreement on Climate Change, Trade and Sustainability (ACCTS).
At the heart of the ACCTS agreement is the creation of a more open and green trading environment for participating countries by reducing or removing tariff barriers to a range of products that contribute to sustainable development and environmental protection.
Particularly notable is that New Zealand will eliminate tariffs on 41 types of timber products and key export products such as wool under this framework. These initiatives will undoubtedly greatly promote the international competitiveness of the relevant industries in New Zealand and inspire more enterprises to devote themselves to the production and innovation of sustainable products.
Source: Home Textiles Today

TikTok opens local life business overseas

According to media reports, TikTok is testing the waters of local life business overseas, with the first stop being Southeast Asia, and the business has now been opened in Indonesia and Thailand.A person engaged in TikTok e-commerce service provider in Indonesia revealed that the TikTok local life business is still in the internal testing stage, and only some users are able to brush the relevant group-buying packages in the information flow, which is dominated by catering merchants.In order to seize the new business opportunities, he has begun to expand the local life business, and is building the United Darlings and building a team.
Source: Overseas Cross-Border Weekly

Temu has entered more than 70 countries and regions

Recently, at the opening ceremony of the 2024 China Internet Conference, Zhu Zheng, senior vice president and chief development officer of Pinduoduo Group, revealed that since the launch of Pinduoduo Group's DuoDuo cross-border in September 2022, it has penetrated into more than a hundred manufacturing industry zones in Guangdong, Zhejiang, Shandong, Anhui and other places, and promoted high-quality manufacturing products to enter more than 70 countries and regions, such as North America, Europe, and Asia, providing overseas consumers with We provide overseas consumers with a full range of products, including home gardening, pet supplies, clothing, shoes and bags, electronic products, beauty, sports and other categories.
 
02 Important Events

Gunshots ring out at Trump's US campaign rally in Pennsylvania

Gunshots rang out at Trump's campaign rally in Pennsylvania, U.S., while he was giving a speech on the afternoon of the 13th, local time. He immediately withdrew from the speaker's podium under the protection of secret service personnel.
Source: cctv news

Trump shooting characterized as assassination attempt

The shooting at a rally for former US President Donald Trump has been characterized as an “assassination attempt” by law enforcement officials, according to CNN. According to multiple law enforcement sources, the shooter was at a building outside the rally site, and law enforcement officials initially believe he was a sniper.
Source: financialwire.com

Translated with DeepL.com (free version)

Musk donates to Trump in hopes of using his vast wealth to influence the 2024 US election
Billionaire Elon Musk has made a donation to a super PAC dedicated to helping Donald Trump get into the White House, a major move by the world's richest man to make his mark on US politics. Musk donated to a low-key group called America PAC, according to people familiar with the matter, who asked to remain anonymous to detail his plans.
It's unclear how much Musk donated, but according to people familiar with the matter, it's a significant amount.The political action committee's next release of its list of donors is scheduled for July 15th.Musk's donation comes as Trump, with the help of Wall Street and corporate donors, has surpassed his rival, President Joe Biden, in fundraising.Biden's own fundraising campaign stalled after a disastrous debate that led some key Democratic donors to put away their checkbook degrees.
Source: Global Market Intelligence

U.S. inflation cooling across the board strengthens Fed's case for rate cuts

Core CPI, which excludes food and energy costs, rose 0.1% in May from a year earlier, the smallest increase since August 2021, data from the U.S. Bureau of Labor Statistics showed. The year-over-year increase of 3.3% was also the lowest level in more than three years.Economists believe that the core CPI is a better indicator of underlying inflation levels than the headline CPI.The headline CPI fell 0.1% from a year earlier for the first time since the outbreak, driven by lower gasoline prices, and rose 3% from a year earlier.Analysts believe that U.S. inflation cooled across the board in June, which will further boost Fed officials' confidence that interest rates can be cut soon.
Source: Global Market Intelligence

Fed's Daley: economy shows one or two rate cuts this year is more appropriate

Fed Daley said the recent inflation situation is a relief, but the progress will not be smooth sailing; inflation is expected to gradually decline, the labor market is also gradually slowing down; the economy seems to be going on this year to cut interest rates 1 or 2 times, “more or less” more appropriate road; in the full before taking the next step, more information is needed; With so many people talking about the labor market, this is a pretty big signal from the Fed; the labor market has slowed, but remains solid.
Source: Global Market Intelligence

U.S. manufacturing in contraction for third straight month due to high interest rates and weak demand 

The latest data shows that the U.S. manufacturing sector continued to show signs of weakness in June. Data released by the Institute for Supply Management (ISM) showed that the U.S. manufacturing Purchasing Managers' Index (PMI) slipped to 48.5 in June from 48.7 in May, the third consecutive month that the index has been below 50, indicating that the manufacturing sector is in a state of contraction.A PMI below 50 is seen as a sign that the sector is shrinking.
Source: Global Market Intelligence

President Biden says both Israel and Hamas have agreed to a ceasefire framework

U.S. President Joe Biden posted on social media that Israel and Hamas have agreed to a ceasefire framework. He said that a comprehensive framework for achieving a ceasefire and bringing hostages home was developed six weeks ago.There is still work to be done and the issues are complex, but now both Israel and Hamas have agreed to the framework.His team is making progress and is determined to finish the job.
Source: Global Market Intelligence

Societe Generale: expects ECB to resume rate cuts in September

Anatoly Annenkov, Senior European Economist at Société Générale, noted that as data has been on the weak side, it is considered likely that the ECB will cut rates again in September. As a result, next week's ECB meeting is likely to be mostly about assessing the available data and comparing it to the latest forecasts, with the press conference likely to be the most interesting part. Risks to inflation are still seen as rising, which could force the ECB to pause its rate cuts in December. In addition, the Committee may have some preliminary discussions on the upcoming strategic review. 
Source: Global Market Intelligence

Global PC quarterly shipments rise 3%, Apple, Acer lead gains

Apple Inc. reported a 21% increase in personal computer shipments in the second quarter, the largest increase among global personal computer (PC) makers. The industry as a whole showed a budding recovery, with shipments rising for the second consecutive quarter. Worldwide desktop and laptop shipments rose 3 percent year-on-year in the quarter that ended in June, according to a report Tuesday from industry research firm IDC. Apple and Acer led the major manufacturers in shipments. The latter's shipments jumped about 14 percent.
Source: sci-fi edition of the daily

Musk's social media company X seeks to move further away from its headquarters

Musk's social media company X is looking to give up large swaths of office space at its San Francisco headquarters, which would further cut into the company's footprint in the California city and deal a blow to the city's struggling real estate market.The social media company hired Jones Lang LaSalle to advertise a sublease of about 460,000 square feet (42,700 square meters) of office space at its headquarters at 1355 Market St., according to San Francisco media reports.The company previously sought to sublease about 330,000 square feet of office space in the building next door. 
Source: Sci-Tech Daily
 
03 Reminder of next week's important events

The week's key global news

Monday (July 15): Eurozone monthly industrial output for May, U.S. New York Fed manufacturing index for July, Bank of Canada releases business outlook survey.

Tuesday (July 16): Federal Reserve Chairman Jerome Powell and Carlyle Group executives in conversation, San Francisco Fed President Daley to participate in the meeting, the euro zone in July ZEW economic sentiment index, the United States in June retail sales monthly rate, the United States in June import and export price index monthly rate, the United States in July the NAHB housing market index, the United States in May the monthly rate of business inventories.

Wednesday (July 17): speech by Fed Governor Kugler, final annualized Eurozone CPI for June, speech by Richmond Fed President Balkin, U.S. annualized total new housing starts for June, U.S. monthly industrial output for June, speech by Fed Governor Waller on the economic outlook.

Thursday (July 18): the Federal Reserve released the brown book on economic conditions, the European Central Bank announced the interest rate resolution, the United States to July 13 when the number of initial jobless claims, the United States in July Philadelphia Fed Manufacturing Index, European Central Bank President Christine Lagarde held a press conference on monetary policy, the U.S. Chamber of Commerce in June, the monthly rate of leading indicators.

Friday (July 19): Dallas Fed President Logan delivers opening remarks at an event, San Francisco Fed President Daley participates in a fireside chat, Fed Governor Bowman delivers a speech, Japan's annual core CPI rate for June, the ECB publishes its Professional Expectations Survey, and New York Fed President Williams speaks on monetary policy.
 
04 Important Global Conferences

The 30th Asia International Power & Energy Exhibition 2024
Organizer: Clarion Energy
Time: October 08 - October 10, 2024
Exhibition Venue : Kuala Lumpur Convention and Exhibition Center, Malaysia
Recommendation : Power Asia 2024 (Enlit) Highlights: four exhibitions in one, four themes, covering the entire electricity industry, to create the largest and most professional industry power exhibition in Asia! Power-Gen Asia 2024 is the most professional and largest event for the leading power generation, solar, transmission and distribution industry in Asia. 2024 is the 30th anniversary of the show, Asia's largest power week, which will invite key authorities from the power and energy sectors of Southeast Asian countries as well as key executives from the various power companies to attend the show. power-Gen Asia 2024 is the only power and solar show in Asia that gives you an The opportunity to do business with 20,000+ professionals, important industry buyers and the most influential visitors in one place, at the same time will be the only show that is worth watching for foreign traders in related industries.

IndustrieMexico 2024

Organizer: Hannover Messe
Time: October 09 - October 11, 2024
Exhibition Venue: Mexico Leon Convention and Exhibition Center
RECOMMENDATION: Industrial Transformation Mexico celebrated its fifth edition as Latin America's leading trade show for digital transformation, successfully reaffirming our belief in helping Mexico adopt a digital and technological agenda and generate 4.0 knowledge for more efficient, flexible and sustainable production models.This year, ITM is once again a platform that opens up diverse spaces for collaboration between leading advocates of 4.0 technologies and key players in the global industry.
Attending the show allows you to do business through a professional network of suppliers and leading Industry 4.0 companies from more than 10 countries, participate in the most relevant Industry 4.0 B2B business meetings in Mexico and Latin America, learn about the latest trends, launches and innovations in Industry 4.0 around the globe, take part in the country's best international conference and seminar program focused on Industry 4.0, connect with the country's most relevant network of professionals in the field, and build relationships with the country's most relevant network of professionals in the industry.Connect with the most relevant network of professionals in the field in the country, relevant industry foreign traders to watch out for.

05Global Major Festivals 

Thursday, July 18 - Mandela Day in South Africa

In November 2009, the United Nations General Assembly proclaimed July 18th as Nelson Mandela International Day in recognition of former South African President Nelson Rolihlahla Mandela's contribution to a culture of peace and freedom, and in 2013, July 18th will mark the 95th birthday of former South African President Nelson Mandela.“At its core, Mandela International Day means “doing good for people and the planet” and aims to mobilize the human family to do more to build a peaceful, sustainable and equitable world, “a place where people can pay tribute to a man who embodies the highest human values. 
This is the highest tribute one can pay to an outstanding individual who embodies the highest human values”.
Suggestion: just be aware.

July 20 (Saturday) Colombia - Independence Day

On July 20, 1810, Colombia declared its independence. To commemorate this important day, Colombia has designated July 20 as its National Day and Independence Day.
Activities: Every year on this day, various celebrations are held throughout Colombia, and a military parade is held in the capital city of Bogotá, where soldiers from the army, navy and air force are paraded by the president and other military and political leaders.
Suggestion: Blessings in advance and leave confirmation.

July 21 (Sunday) Belgium - National Day

Belgium declared independence from the Netherlands in 1830 and established the Kingdom of Belgium with a hereditary throne and elected Prince Leopold as king, renamed Leopold I. He ascended the throne on July 21, 1831, which became Belgium's National Day.
Activities: every year on this day, the capital city of Brussels will be held in the Palace Square military parade, in order to strengthen the national prestige, enhance national cohesion. The parade is held at 4:00 pm and lasts about 2 hours.
Suggestions: Blessings in advance, vacation confirmation.

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