Trade

  • Bangladesh: Reduce or exempt certain manufacturing corporate income tax. Before June 30, 2032, enterprises engaged in the production of refrigerators, refrigeration equipment accessories, motorcycles and air conditioners will be allowed to enjoy a preferential corporate income tax rate of 10%.

  • Cambodia: Accelerate the development of solar power stations. By 2023, the installed capacity of solar power projects in Cambodia will reach 495 MW.

  • Australia: Will not close coal mines or coal-fired power stations, and will continue to maintain its competitiveness in the coal market in the coming decades.

  • South Africa: Deteriorating power supply capacity has led to the continuation of national power curtailment measures.

  • East Africa: Launched Mansa, an online trading platform for Africa.

  • Philippines: The economy grew by 7.1% in the third quarter of this year. Wholesale and retail trade, manufacturing and construction are the top three industries that promote economic growth.

  • Steel profiles: Colombia made a final anti-dumping ruling. An anti-dumping affirmative final ruling was made on steel profiles originating in China, and it was decided to impose an anti-dumping duty of 37.88% of the offshore declared price, with a validity period of 3 years.

  • Fiberglass: India has decided not to continue to impose anti-dumping duties on fiberglass originating in or imported from China.

  • South Korea and the Philippines completed negotiations on a free trade agreement. South Korea will relax the access conditions for products such as

  • Philippine bananas and pineapples, and the Philippines will also reduce import tariffs on Korean auto parts within five years.

  • The UAE has amended its law to avoid double taxation of value-added tax.

  • The U.S. Department of Commerce recently stated that the U.S. trade deficit reached $80.9 billion in September, a record high. Data show that in September, US exports fell by 3%, while imports increased by 0.6% to 288.5 billion U.S. dollars. The September deficit of 80.9 billion U.S. dollars exceeded the June record of 73.2 billion U.S. dollars.

  • China Construction Machinery Industry Association: In October, 18,964 excavators of various types were sold, a year-on-year decrease of 30.6%; of which 12,608 were domestic, a year-on-year decrease of 47.2%; 6,356 units were exported, a year-on-year increase of 84.8%. From January to October, a total of 298,302 excavators were sold, a year-on-year increase of 13.1%; of which, 244,920 were domestic, a year-on-year increase of 3.47%; and 53,382 were exported, a year-on-year increase of 96.8%.

  • Trans-Pacific container freight rates have fallen sharply. According to data from the container data company Shifl, the spot price of 40-foot boxes from China to Los Angeles dropped from $17,500 to $8,500-a drop of more than 50%. At the same time, it was pointed out that the freight from China to the east coast of the United States also dropped significantly, from $19,500 in September to $13,800 in November, a drop of about 30%.

Company

  • Amazon debuts at China International Import Expo

  • DHL’s third-quarter profit increased by 28.6%.

  • AliExpress has traded 10.5 million orders in half a year. In the last half year, the total number of orders completed through social e-commerce tools on AliExpress has reached 10.5 million, accounting for about 7.5% of the total number of global AliExpress orders. Social commerce is in the company. The share of turnover is 6%.

  • Tesla: Musk may sell 10% of Tesla stock.

  • Sydney Airport Group was acquired for A$23.6 billion.

China

  • Shanghai: In October, a total of 13,000 sets of second-hand houses were sold in Shanghai, an increase of 8% month-on-month and a year-on-year decrease of 53%; the transaction amount was 42.2 billion yuan, a month-on-month increase of 10%, and a year-on-year decrease of 57%; the total average price was 3.14 million yuan per set , The chain was flat, down 9% year-on-year; the average transaction price was 38,812 yuan per square meter, an increase of 1% month-on-month and a year-on-year decrease of 7%.

  • Ten departments including the National Development and Reform Commission: jointly issued the “14th Five-Year Plan for National Cleaner Production Implementation Plan” to vigorously promote the clean and low-carbon transformation of key industries. Strictly implement laws and regulations and standards such as quality, environmental protection, energy consumption, and safety, and accelerate the elimination of outdated production capacity. By 2025, clean production in the industrial sector will be fully implemented, clean production in agriculture, service industry, construction, transportation and other fields will be further deepened, the overall level of clean production will be greatly improved, the efficiency of energy resource utilization will be significantly improved, and the major pollutants and carbon dioxide emissions of key industries The intensity is significantly reduced, and the cleaner production industry continues to grow.

  • The China Federation of Logistics and Purchasing recently released data showing that in October 2021, the Asian Manufacturing Purchasing Managers Index (PMI) increased by 0.6 percentage points from the previous month to 51.5%, an increase from the previous month for two consecutive months, and the increase was somewhat higher than the previous month. Expansion has also become an important driving force for the steady growth of the global manufacturing industry.

  • Ministry of Education of China: Include depression screening in student health examinations.

World

  • Food prices in the UK are rising at the fastest rate since August 2020. In October of this year, the UK’s grocery inflation rate rose to 2.1%, which is the highest level since August 2020. Last week, the Bank of England announced that it would keep the key interest rate unchanged, but as the headline inflation rate approaches 5%, it is expected to raise interest rates soon.

  • According to a study by the Climate Group, if the climate situation is not improved, six major cities in the world may sink underwater before 2030. The first “suffering” may be the city of Amsterdam in the Netherlands, which will be at the forefront of global warming and rising sea levels. The Iraqi port city of Basra ranks second in the “sinking threat”; followed by the city of New Orleans in the United States, located on the Mississippi River.