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Major Western US Port Operations Halted Amid Labor Disruption
According to a report by CNBC, ports along the western coast of the United States are facing closure due to a labor force no-show after negotiations with port management failed. Oakland port, one of the busiest ports in the United States, ceased operations on Friday morning due to a lack of dock ...Read more -
Busy Chinese Seaports Boost Foreign Trade Stability and Growth with Customs Support
June 5th, 2023 On June 2nd, the “Bay Area Express” China-Europe freight train, loaded with 110 standard containers of export goods, departed from the Pinghu South National Logistics Hub and headed for the Horgos Port. It is reported that the “Bay Area Express” China-Europe...Read more -
The U.S. sanctions against Russia involve over 1,200 types of goods! Everything from electric water heaters to bread makers has been included in the blacklist
May 26th, 2023 During the G7 summit in Hiroshima, Japan, the leaders announced the imposition of new sanctions on Russia and pledged further support to Ukraine. On the 19th, according to Agence France-Presse, the G7 leaders announced during the Hiroshima summit their agreement to impose new sanc...Read more -
New Round of Sanctions! Over 1,200 Goods Included in US Anti-Russia Measures
G7 Hiroshima Summit Announces New Sanctions on Russia May 19th, 2023 In a significant development, leaders from the Group of Seven (G7) nations announced during the Hiroshima Summit their agreement to impose fresh sanctions on Russia, ensuring Ukraine receives the necessary budgetar...Read more -
62 Foreign Investment Projects Signed, China-Central and Eastern European Countries Expo Achieves Multiple Accomplishments
With over 15,000 domestic and foreign buyers in attendance, resulting in over 10 billion yuan worth of intended procurement orders for Central and Eastern European goods, and the signing of 62 foreign investment projects… The 3rd China-Central and Eastern European Countries Expo and Interna...Read more -
April Trade Data Released: US Exports Decline by 6.5%! Which Products Experienced Major Increases or Decreases in Exports? China’s April Exports Reach $295.42 Billion, Growing by 8.5% in USD ...
April exports from China grew by 8.5% year-on-year in US dollar terms, surpassing expectations. On Tuesday, May 9th, the General Administration of Customs released data indicating that China’s total imports and exports reached $500.63 billion in April, marking a 1.1% increase. Specifically,...Read more -
Major Events in Foreign Trade this Week: Brazil Grants Duty-Free Status to 628 Imported Products, While China and Ecuador Agree to Eliminate Tariffs on 90% of their Respective Tax Categories
May 12th , 2023 April Foreign Trade Data: On May 9th, the General Administration of Customs announced that China’s total import and export volume in April reached 3.43 trillion yuan, a growth of 8.9%. Among this, exports amounted to 2.02 trillion yuan, with a growth of 16.8%, while imports ...Read more -
Pakistan to purchase Russian crude oil with Chinese yuan
On May 6th, Pakistani media reported that the country may use Chinese yuan to pay for the crude oil imported from Russia, and the first shipment of 750,000 barrels is expected to arrive in June. An anonymous official from Pakistan’s Ministry of Energy stated that the transaction will be sup...Read more -
US to Implement Comprehensive Ban on Incandescent Light Bulbs
The US Department of Energy finalized a regulation in April 2022 prohibiting retailers from selling incandescent light bulbs, with the ban set to take effect on August 1st, 2023. The Department of Energy has already urged retailers to begin transitioning to selling alternative types of light bu...Read more -
Dollar-Yuan Exchange Rate Breaks 6.9: Uncertainty Prevails Amid Multiple Factors
On April 26th, the exchange rate of the US dollar to the Chinese yuan breached the 6.9 level, a significant milestone for the currency pair. The following day, April 27th, the yuan’s central parity rate against the dollar was adjusted up by 30 basis points, to 6.9207. Market insider...Read more -
The price is only 1 euro! CMA CGM “fire sale” assets in Russia! More than 1,000 companies have withdrawn from the Russian market
April 28th, 2023 CMA CGM, the world’s third largest liner company, has sold its 50% stake in Logoper, Russia’s top 5 container carrier, for only 1 euro. The seller is CMA CGM’s local business partner Aleksandr Kakhidze, a businessman and former Russian Railways (RZD) executive....Read more -
China’s Ministry of Commerce: Complex and Severe Foreign Trade Situation Persists; New Measures to be Implemented Soon
April 26th, 2023 April 23rd – In a recent press conference held by the State Council Information Office, the Ministry of Commerce announced a series of upcoming measures to address the persistently complex and severe foreign trade situation in China. Wang Shouwen, Deputy Minister and...Read more
