The growth of German exports is surprising, especially the demand in the Chinese market
7 June 2023
Although the global economic weakness, geopolitical tensions and high inflation have put pressure on Germanys overseas business, the latest data released by the Federal Statistical Office of Germany shows that in April, 2023, Germanys exports unexpectedly increased by 1.2%, especially the demand in the Chinese market increased significantly. These data show that although Germanys current economic situation is not ideal, its exports...
China will further open up its market and attract more high-quality foreign investment
6 June 2023
Zhou Jing, director of the Department of Market System Construction of the Ministry of Commerce, said recently that China will promote high-level opening up to the outside world in accordance with the requirements of the Central Economic Work Conference of the Communist Party of China, relying on Chinas super-large-scale market advantages, attract global resource elements with domestic cycle, both to leave high-quality foreign capital, but also to attract more high-quality foreign capital, improve the quality and water of trade and investment cooperation.
Global corporate bankruptcy and currency risk alert: Countries face challenges
6 June 2023
The number of corporate bankruptcies in Europe has surged. According to the latest report released by the German credit agency Creditreform, in 2022, a total of nearly 140,000 companies went bankrupt in 14 Western European EU countries, as well as Norway, Switzerland and the UK. This figure increased by 24.2% compared with the previous year. The country with the largest increase in the number of bankrupt companies is Austria, with a 59.7% increase compared with the previous year. Followed by the UK (55.9...
South Koreas exports fall for eighth straight month in May, but narrowing trade deficit shows signs of recovery
5 June 2023
South Koreas exports declined for the eighth consecutive month in May due to the continued weak global demand for memory chips. However, the decline was less severe compared to April. According to data from the Ministry of Trade, Industry and Energy of South Korea, exports in May decreased by 15.2% year - on - year to $52.24 billion, better than the 16.3% decline expected by economists. South Korea...
Global sanctions on Russia: How can Chinese companies find opportunities in the new market environment?
2 June 2023
At the recent G7 summit in Hiroshima, Japan, leaders announced new economic sanctions against Russia, targeting mainly its military-industrial potential and exports of important goods, while targeting individuals and entities accused of providing Russia with front-line transportation goods.
The Turkish lira exchange rate against the US dollar has fallen to a record low. Chinese foreign trade companies need to beware of risks
1 June 2023
On May 29, 2023, the Turkish lira fell to $1 for $20,077 to a record low. Since this year, the lira has fallen by more than 7% and devalued by more than 90% over the last decade. Turkey is struggling to cope with the crisis of cost of living, currency crash and exhaustion of foreign exchange reserves. Because of the limited foreign exchange reserves in Turkey, the actual interest rate is considerable.
Responding to the EUs Carbon Tariff”: Opportunities and Challenges for Chinese Companies
1 June 2023
On May 15, 2023, the European Union’s Carbon Border Regulation Mechanism Act, also known as the “Carbon Tariff” (CBAM), came into effect. The implementation of this bill indicates that “carbon tariffs” could become an important factor affecting international trade in the future.
Analysis of Vietnams import and export data in the first five months: Export prospects continue to be sluggish
31 May 2023
In global trade, understanding and analyzing import and export data is of great importance. This article explains in detail the import and export data of Vietnam in the first five months, as well as the continued sluggish export prospects. I. Export Data Reuters reported that data released by the General Statistics Office of Vietnam shows that Vietnams export value in the first five months of this year decreased by 1I. 6% year - on - year to 136I. 7 billion US dollars; among them, exports in May...
Bangladesh is facing a serious foreign exchange reserve crisis, and banks may not be able to pay for imports on time
30 May 2023
According to Reuters, Bangladesh is currently facing a serious shortage of US dollars, and it cant even afford to pay the gas bills, and the import payments are repeatedly delayed. The Bangladesh Petroleum Corporation (BPC) owes more than $300 million in debt to six overseas companies, and some of these companies have sent fewer goods than the scheduled quantity or threatened to stop supplying. Bangladesh is struggling to cope with the damaged...
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