China escalates rare metal export controls, posing new challenges to global supply chains!
China tightens export controls on rare metals; prices of critical metals like antimony surge as global firms stockpile, testing supply chain stability.
U.S. Raises Solar Cell Tariff Quotas; Mexico Imposes Anti-Dumping Duties on Chinese Products
U.S. President Joe Biden has increased the import tariff quota for solar cells to 12.5GW to promote clean energy development, while Mexico has imposed provisional anti-dumping duties on PET resin and steel screws originating from China to protect its domestic industries.
China-Africa trade volume hits record high, with agricultural and new energy products as highlights
In 2023, China-Africa trade volume reached $282.1 billion, a 1.5% year-on-year increase. Chinas imports of agricultural products from Africa and exports of new energy vehicles, lithium batteries, and photovoltaic products to Africa saw significant growth, highlighting strong trade complementarity and positive development momentum between China and Africa.
Chinas anti-subsidy investigation into EU dairy products raises concerns in Ireland and other industries
China launches countervailing investigation into EU-origin dairy imports, affecting major dairy exporters like Ireland, Germany, and France. Ireland, with dairy exports worth approximately €420 million (7% of global exports), is particularly concerned about trade dispute impacts.
Turkey Promotes the Cotton Road Railway Project Challenging the Belt and Road,
Turkey plans to build a railway connecting the Persian Gulf, Mediterranean, and Black Sea as part of its Cotton Road initiative, aiming to provide new trade routes between China and Europe, reduce transportation costs, and compete with the Belt and Road Initiative.
Analysis of the Impact of the EU Deforestation-Free Regulation on Global Companies
The EUs Zero Deforestation Regulation aims to reduce deforestation and carbon dioxide emissions, impacting companies producing goods containing materials like rubber and palm oil. It mandates strict raw material traceability, with non-compliant entities facing fines.
Canada imposes 100% surtax on Chinese-made EVs
The Canadian government announced that starting October 1, it will impose a 100% surtax on electric vehicles originating from China. This additional tax will be applied on top of the existing 6.1% tariff, significantly increasing the cost of Chinese EVs entering the Canadian market and impacting Sino-Canadian trade relations.
Total import and export value increased year-on-year, while July exports decreased year-on-year
According to data released by the General Administration of Customs, Chinas total import and export value in the first seven months of this year reached 23.55 trillion yuan, a year-on-year increase of 0.4%. Exports totaled 13.47 trillion yuan, up 1.5%, while imports reached 10.08 trillion yuan, down 1.1%.
Chinas renewable energy capacity surpasses coal power historically
In the first half of 2023, Chinas total installed capacity of renewable energy exceeded 1.3 billion kilowatts, a year-on-year increase of 18.2%, surpassing coal power for the first time in history. Significant progress has been made in wind power, photovoltaic power generation, and new energy storage technologies. This data reflects Chinas efforts and achievements in promoting energy transition and sustainable development.
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