Trade

  • Ministry of Commerce: RCEP will take effect on January 1, 2022. On November 2, the ASEAN Secretariat, the custodian of the Regional Comprehensive Economic Partnership (RCEP), issued a notice announcing that Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam and other 6 ASEAN member countries and China, Japan, New Zealand, Australia and other four non-ASEAN member states have formally submitted the approval letter to the ASEAN Secretary-General, which has reached the threshold for the agreement to enter into force.

  • United States: Stop punitive tariffs to the EU. Three years ago, the Trump administration imposed additional tariffs of 25% and 10% on steel and aluminum products imported from the European Union. This measure was cancelled by the Biden administration of the United States.

  • China's crude steel production is the largest in the world. According to the latest data from the World Steel Association, in September 2021, the crude steel output of 64 countries and regions included in the World Steel Association's statistics was 144.4 million tons. Among them, China's crude steel production is 73.8 million tons, the US crude steel production is 7.3 million tons, and the US crude steel production is less than one-tenth of China's.

  • Eurasian Economic Union: Reduce or exempt import duties on some citrus fruits and organic compounds. From January 2, 2022, the import tariff on citrus fruits used for squeezing juice will be reduced to 5.5% for a period of 3 years; at the same time, it has been decided to abolish the import tariff on some organic compounds used in the production of phytochemical protection agents for a period of 2 years.

  • South Korea: With the surge in semiconductor demand, it is expected that South Korea's exports to China will continue to show a good momentum in the short term. The main products South Korea exports to China include semiconductors, petrochemicals, machinery, steel and so on.

  • Singapore: The backlog of nearby ships hit the highest since April this year. Recently, the transportation of holiday commodities has increased, and the backlog of ships in global ports has continued to deteriorate. Among them, there are currently 53 container ships berthed near Singapore, and the backlog of ships is 22% higher than the normal level, which is the highest level since April this year.

  • Australia: Demand for iron ore has fallen. Affected by the decline in demand for iron ore, the Australian economy is facing enormous challenges. It is reported that the price of iron ore fell after reaching an all-time high of US$233 on May 12 this year, and has now fallen to about US$100.

  • South Africa: The price of gasoline and diesel has risen due to currency depreciation. South Africa’s Ministry of Mineral Resources and Energy recently issued a statement announcing that the South African government has decided to increase the prices of gasoline, diesel and lighting paraffins due to the recent continued decline in the Rand against the US dollar.

  • Trailer axle: India made its first anti-dumping sunset review final decision. It is recommended to continue to levy anti-dumping duties for a period of five years, with the manufacturer Guangdong Fuhua Heavy Industry Manufacturing Co., Ltd. at US$0.16/kg, and other manufacturers at US$0.31/kg.

  • Zipper: Turkey launches third anti-dumping sunset review case investigation

China

  • In October, Caixin China's service industry PMI was 53.8, up 0.4% from September, the highest since August 2021, but still slightly lower than the long-term average of 54.1.

  • Meteorological Bureau: Starting from November 4th, China will experience a strong wind cooling process from northwest to southeast, with strong rain and snow in some areas. The temperature drop in most areas exceeds 8 degrees Celsius, and the daily maximum temperature drop in northwestern and northern North China can even reach 20 degrees Celsius.

  • Zhongzhi Institute: In October, the overall transaction area of ​​16 major cities monitored across the country decreased by 7.4% month-on-month and 24.6% year-on-year. The overall transaction area in first-tier cities increased by 0.25% month-on-month and 6.7% year-on-year; key second-tier cities fell 16.44% month-on-month and 34.6% year-on-year. Among the cities that fell from the previous month, Suzhou saw a significant drop of 37.9%; Ningbo dropped by 28.9%, and Wuhan dropped by 21%.

  • Ministry of Culture and Tourism: In the first three quarters, the total number of domestic tourists was 2.689 billion, an increase of 39.1% over the same period of the previous year. Recovered to 58.5% of the same period in 2019. In quarterly terms, the number of domestic tourists in the first quarter was 1.024 billion, a year-on-year increase of 247.1%; the total number of domestic tourists in the second quarter was 847 million, a year-on-year increase of 33.0%; the total number of domestic tourists in the third quarter was 818 million, a year-on-year decrease of 18.3%.

  • Hangzhou City: In October, the transaction of second-hand housing was 2,637, a decrease of about 25% from the previous month, which was a record low in nearly 20 months.

  • CCTV: "Kaishou cuisine" is becoming more and more popular with consumers, and the pre-made vegetable industry is also booming. According to the industry, the goods produced in the past two days will soon be loaded and transported, and many vehicles are waiting in line to pull the goods. This year's sales have doubled from last year, with daily sales reaching more than 100,000 copies. If estimated at a compound growth rate of 20% per year, my country's prepared vegetable market may exceed one trillion yuan in the next 6-7 years.

  • 58.City Recruitment Research Institute: Taobao customer service recruitment demand doubled, online store customer service demand increased by 15.8%; Chengdu and Chongqing customer service job recruitment demand showed a year-on-year growth, of which Chongqing increased by 19.5%; online store customer service average salary month-on-month increase An increase of 34.7%, with an average monthly salary of 7230 yuan.

  • Shanghai Securities News: In the third quarter of this year, offshore wind power was newly connected to the grid by 1.67 million kilowatts, a year-on-year increase of 227%. As of the end of September, the cumulative installed capacity of offshore wind power across the country reached 13.19 million kilowatts, a year-on-year increase of 75.7%. At present, many offshore wind power projects have successively received news of grid connection. The Global Wind Energy Council predicts that within this year, China's total installed offshore wind power capacity is likely to surpass that of the United Kingdom, becoming the country with the largest installed offshore wind power capacity in the world.

Company

  • BYD: In October, the sales of new energy vehicles were 81,040, and the total number of new energy vehicles this year was 418,600, a cumulative year-on-year increase of 212.03%; in October, the sales of cars were 89,935, and the cumulative total this year was 542,700, a cumulative year-on-year increase of 71.35%.

  • Tang Daosheng, Tencent Group: In the next three years, Tencent will invest more than 20 billion resources to cultivate more than 1,000 partner companies with annual revenues exceeding 10 million.

  • Nintendo: In fiscal 2021, switch production will be reduced by 20% from the original plan, to about 24 million units. Due to the shortage of semiconductors, the current supply of new models is in short supply, and home appliance stores have been adopting lottery sales measures.

  • Lufthansa: In the third quarter, it achieved an EBIT of 17 million euros. This is the first time the company has achieved profitability since the epidemic. This data has also greatly exceeded expectations. Analysts had previously predicted a loss of 33 million euros in the third quarter. In the same period last year, it lost 1.26 billion euros.

  • Molding Technology: Received the official project designation letter from important customers, the new project life cycle (September 2023-2027), is expected to generate 4.66 billion yuan in sales, and will continue to become a domestic high-end automobile brand automobile bumper assembly product Of bulk suppliers. In 2020, revenue of 6.124 billion yuan, this project is expected to account for 76% of last year's revenue.

  • Jaguar Land Rover: Announces the second quarter results for the fiscal year 2021/22. Global revenue was 3.9 billion pounds, and the pre-tax loss was 302 million pounds, in line with previous expectations. After the global retail order volume reached a record high in the first quarter, it reached a new high with a record of over 125,000 copies. It is expected that with the gradual improvement of chip supply, the market demand for its products will be further released.

  • Self-driving car company Nuro: announced the completion of a $600 million Series D financing, led by Tiger Global Management.

  • Audi CEO: It is expected that chip supply will continue to be tight at least until the summer of 2022.

World

  • United States: In October, ADP employment increased by 571,000 people, an estimated increase of 400,000 people, the previous value increased by 568,000 people. It is a new high in June.

  • The countries of the United Nations climate summit reached a major agreement. The 26th United Nations Climate Change Conference (COP26) concluded in Scotland, and more than 100 countries around the world reached a major agreement to pledge to stop deforestation by 2030. Including Brazil, which is deforesting the Amazon rainforest. China and the United States will also join, accounting for more than 85% of the world's forest area.