Sudden! This product's export control/Indonesia will ban online sales of imported goods below $100... A batch of heavyweight new foreign trade regulations will be implemented in August!
Aug
August Foreign Trade News Overview
Starting from August 1st, CCC certification management will be implemented for lithium-ion batteries, battery packs, and mobile power supplies
Starting from August 1st, export controls will be implemented on gallium and germanium related items
The National Development and Reform Commission has issued an import quota of 750000 tons of cotton with preferential tariff rates beyond the 2023 cotton tariff quota
Implement export controls on drone related items
In the second quarter, the Chinese yuan surpassed the US dollar for the first time in bilateral settlements, accounting for 49%
Shanghai Approved Import Drug Packaging Sales
The four major ports in Shenzhen Port have suspended the collection of port facility security fees
China Nicaragua: Announces Substantive Completion of Free Trade Agreement Negotiations
The United States: A surge in imports of Chinese drugs
EU: Formally approves the Chip Act
Germany: plans to launch 20 billion euros in chip production subsidies
Germany and France: Oppose the extension of the ban on Ukrainian agricultural products by the five Eastern European countries
Japan: Rice exports to the United States surge
South Korea: Better than expected economic growth rate in the second quarter
Vietnam: Export Decline for 5 Consecutive Months
Indonesia: Will ban online sales of imported goods below $100
Philippines: Starting from August 24th, an electronic visa system will be put into trial operation in China
India: Initiates anti-dumping investigation against aluminum frames of solar panels/modules in China
Egypt: Suez Canal Lowers Toll Rates
Bolivia: State owned banks initiate RMB transactions
Peru: Initiates anti-dumping investigation on shoe and boot products made of Chinese textile materials for shoe uppers
South Sudan: Mandatory testing of imported cars
Policies&New Regulations
The State Administration for Market Regulation has issued a notice to implement CCC certification management for lithium-ion batteries, battery packs, and mobile power sources starting from August 1, 2023. Starting from August 1, 2024, those who have not obtained CCC certification and marked with certification marks are not allowed to leave the factory, sell, import, or use in other business activities.
The Ministry of Commerce and the General Administration of Customs have issued a notice, in order to safeguard national security and interests, and with the approval of the State Council, it has been decided to officially implement export controls on gallium and germanium related items from August 1, 2023.
Recently, the National Development and Reform Commission announced that in order to ensure the cotton needs of textile enterprises, after research and decision, it has been decided to issue import quotas with preferential tariff rates beyond the 2023 cotton tariff quota. This time, a quota of 750000 tons of non-state-owned cotton import sliding tax will be issued, without limiting trade methods.
On July 31st, the Ministry of Commerce, the General Administration of Customs, the State Administration of Science and Technology for National Defense, and the Equipment Development Department of the Central Military Commission issued a notice on the implementation of export controls on drone related items, which will be officially implemented from September 1, 2023.
According to the report of Nihon Keizai Shimbun on July 25, the proportion of RMB in China's bilateral settlement exceeded the US dollar for the first time. The report states that the use of the renminbi is expanding in bilateral trade settlements with China. According to statistical data on settlement currencies used by enterprises and institutional investors, the proportion of RMB settlement reached 49% in the second quarter of 2023, surpassing the US dollar for the first time. The major influencing factors include financial openness and increased trade between China and Russia
According to the National Medical Products Administration, on July 18th, the Comprehensive Department of the State Medical Products Administration replied to the Shanghai Municipal Medical Products Administration, stating that after the sub packaging filing of overseas produced drugs, imported drug sub packaging enterprises can sell their sub packaged imported drugs.
Recently, China Merchants Port (South China) Operation Center and Yantian International Container Terminal have issued notices announcing the suspension of port facility security fees from enterprises starting from July 10th. This move means that all four container terminals, including Shenzhen Yantian International Container Terminal (YICT), Shekou Container Terminal (SCT), Chiwan Container Terminal (CCT), and Mawan Port (MCT), have temporarily suspended the collection of port facility security fees.
On July 25th, Minister of Commerce Wang Wentao met with Nicaraguan Minister of Development, Industry and Trade Bemudes via video in Beijing, jointly announcing the substantive completion of negotiations on the China Nepal Free Trade Agreement. Both sides agreed to intensify technical preparations and fulfill domestic approval procedures, striving to sign and implement the agreement as soon as possible
International trade hotspots
Policies&New Regulations
On July 26th, Nikkei Chinese website reported that the demand for Chinese made drugs in the United States is skyrocketing. The US Food and Drug Administration (FDA) announced on July 10th that it has licensed China's Qilu Pharmaceutical to export more products to the United States. A spokesperson explained that "until approved pharmaceutical companies can meet the needs of all patients, they can only continue to import unapproved drugs.".
The import volume of drugs from China in the United States reached 6.95 billion US dollars in 2022, a significant increase from 820 million US dollars in 2021. This year's growth momentum will not stop, reaching more than twice that of 2021 from January to May alone.
On July 25th, the European Council announced the official approval of the Chip Act. According to the package of measures announced by the European Union, after the implementation of the Chip Act, the EU plans to mobilize 43 billion euros in public and private investment (including the allocation of 3.3 billion euros in the EU budget), with the intention of increasing the global market share of EU chips from less than 10% to 20% by 2030. In addition, the EU will create capability centers to attract talent and promote chip research and development; Establish a chip export monitoring mechanism to address potential supply crises; Encourage member states to support chip production and entrepreneurship, and create conditions for building an EU chip production base.
On July 24th, according to media reports, the German government plans to allocate 20 billion euros (approximately 22 billion US dollars) to support Germany's chip manufacturing industry, in order to support the country's technology industry and ensure the supply of key components.
According to reports, two days after Russia did not renew the Black Sea Agreement, on July 19th, Poland and five other countries signed a joint statement calling on the European Union to approve the extension of Ukraine's food import ban until the end of this year, otherwise the five countries will close their borders and unilaterally extend the ban. On July 25th, at the EU Agriculture Ministers' Meeting held in Brussels, Belgium, Germany and France expressed opposition to extending the ban imposed by Poland and five other countries on some agricultural products in Ukraine.
On July 26th, Caixin News Agency reported that Japanese rice exports to the United States are rapidly increasing. According to statistics from the Ministry of Agriculture, Forestry and Fisheries of Japan, the export volume from January to May reached 2357 tons, doubling from the same period last year. The export volume increased by 88% to approximately 620 million yen (approximately RMB 31.6 million).
The data released by the Bank of Korea on July 25th showed that the growth rate of the South Korean economy in the second quarter was better than expected, with a month on month growth of 0.6%, higher than the 0.3% in the first quarter. In terms of year-on-year data, South Korea's GDP in the second quarter increased by 0.9% compared to the same period last year, which is on par with the first quarter and better than economists' forecast of 0.8%.
The data released by the Vietnamese Bureau of Statistics on Saturday showed that exports decreased by 3.5% and imports decreased by 9.9% in July. The overall inflation rate in July did not change much compared to the same period last year, at 2.06%. In contrast, house prices are expected to increase by 1.9% year-on-year. After excluding food, fuel, healthcare, and education services, the core CPI increased by 4.3% year-on-year in June, it increased by 4.1% year-on-year in July.
Indonesian ministries are expected to complete the coordination work for the modification of existing rules before August 1st. It is reported that this regulation will apply to online transactions on both e-commerce platforms and social media platforms.
Indonesian officials have stated that there is no longer a need to import goods that already have production capacity domestically. The new rules will help protect local small and medium-sized enterprises in Indonesia.
According to China Trade Remedies Information Network, the Indian Ministry of Commerce and Industry has issued a statement stating that in response to an application submitted by Vishakha Metals Private Limited, an anti-dumping investigation will be launched against aluminum frames used for solar panels/components originating or imported from China.
The Suez Canal Authority recently announced that in order to further promote the transportation of the Suez Canal, a new toll reduction notice has been issued for "chemical and other liquid bulk" tankers. The toll reduction applies to oil tankers traveling from ports in the Gulf of America (west of Miami) and the Caribbean region via the Suez Canal to ports in the Indian subcontinent and eastern Asia. The discount is determined by the location of the port where the ship stops, and a 20% discount can be enjoyed from the port of Karachi, Pakistan to Kochin, India; From the port east of Kochin to Port Klang in Malaysia, you can enjoy a 60% discount; The highest discount for ships from Port Klang to the east is up to 75%. The discount applies to ships passing between July 1st and December 31st.
Bolivian Minister of Economy and Public Finance Marcelo Montenegro announced on July 25th that the Bolivian State Bank Union has launched RMB trading operations to address issues such as the shortage of the US dollar.
Recently, the Committee on Dumping, Subsidies, and Elimination of Tariff Trade Barriers of the National Bureau of Competition and Intellectual Property Protection of Peru issued a resolution in the official daily newspaper "Peruvian Daily" to launch an anti-dumping investigation into shoe and boot products imported from China made of textile materials.
The First Citizen reported that the South Sudanese National Standards Agency and the Japanese private company East African Automobile Company (EAA) have reached an agreement to require mandatory pre entry testing of all imported motor vehicles and components. The agreement stipulates that any imported vehicles without EAA certificates and labels are not allowed to enter South Sudan. According to regulations, each imported car will be charged an inspection fee of up to $150.
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