China’s inflation slows for the third consecutive month

US government data showed on Tuesday that China’s consumption and production inflation index rose in September. China’s consuming price index in September rose by 2.5% year-on-year and 0.7 percentage points higher than that in August.

However, the production price index reduced for the third consecutive month in September, suggesting that economic growth has slowed due to escalating trade tensions with the United States.

In the trade war with the United States, China, the world’s second-largest economy, its inflation situation is closely concerned. The United States has already affected the new business of China, the Asian manufacturing giant.

The National Bureau of Statistics of China pointed out that the production price index in September rose by 3.6% compared with the same period of last year and by 4.1% compared with August. A poll by Reuters showed that analysts expected the PPI (Producer Price Index) of China in September rose by 3.5% compared with the same period of last year, and rose by 0.6% compared with last month.

It is widely hoped that the People’s Bank of China will adjust its monetary policy to curb slow economic growth. China’s official GDP growth target for this year is around 6.5%.

China’s exports and imports grow by 6.5% and 14.1% in first three quarters

According to China customs data, in the first three quarters of 2018, the total value of China’s import and export of goods was 22.28 trillion yuan, an increase of 9.9% over the same period last year. Of which, exports value was 11.86 trillion yuan, up 6.5%, imports value was 10.42 trillion yuan, up 14.1%; the trade surplus was 1.44 trillion yuan, narrowing by 28.3%.

Overall, China’s foreign trade operation has been generally stable this year, and the high-quality development of foreign trade has progressed in an orderly manner. Although there are still some uncertainties and instability in the field of international economic trade, especially the Sino-US trade frictions against China’s foreign trade, having caused certain problems and impacts on the development, the direct and indirect effects are generally controllable. Guided by Xi Jinping’s new era socialism with Chinese characteristics theory, the Customs will fully implement the spirit of the 19th Party Congress, conscientiously implement the decision-making arrangements of the Party Central Committee and the State Council, adhere to the general tone of steady progress, adhere to the new development concept, and develop in accordance with high quality. The Customs will solidly promote the reform of various customs reforms, the level of trade facilitation, and the steady growth of foreign trade and better serve the overall economic and social development of the country.

China’s trade surplus with US hits a record high in September

Against the backdrop of a worsening trade conflict between the world’s two largest economies, China’s trade surplus with the United States in September rose to a record high. In terms of China’s exports to the United States, the annual export growth rate accelerated to 14%, compared with 13.2% in August. While China’s imports from the United States fell by 1.2%, which was the first import decline since February.

The trade surplus with the United States in August was $34.13 billion, surpassing the record figure of $31.05 billion set earlier in August.

From January to September, China’s trade surplus with the United States was $225.79 billion, compared with $196.01 billion in the same period last year.

According to the reports from US media, in September, the United States imposed a 10% tariff on Chinese goods worth 200 billion U.S. dollars. As a result, the total value of goods affected by tariffs has increased to $250 billion. China’s tariff on US goods has increased the total value of the affected goods to 110 billion US dollars.

Despite the deterioration of relations with the United States, China’s total export growth in September was higher than expected due to strong domestic and international demand, while imports remained stable.

According to the data of the General Administration of Customs of China, in terms of US dollars, China’s exports in September grew by 14.5% year-on-year, while in August it increased by 9.8% year-on-year.

Search USA import shipment information by Tradedigits’s US import data.

Development Finance Helps China-Africa Cooperation

A few days ago, the 183th Banking Routine Press Conference was held in Beijing. Liu Yong, the spokesperson of the China Development Bank, introduced CDB’s measure and achievements of applying development financial services to China-Africa cooperation. It is understood that CDB attaches great importance to Sino-Africa cooperation, and even let its subsidiaries-China-Africa Development Fund join. The CDB takes various measures to serve for Africa’s economic and social development, and has played an active role in China-Africa cooperation.

For example, in support of project construction in key areas, CDB has played a long-term and large-capital advantage, supporting a number of major projects like Namibia’s 134-kilometer road upgrade, Egypt’s 500-kilovolt main power grid, Ghana’s deep-energy gas-fired power station, Suez Economic and Trade Park, and South Africa’s Hisense Home Appliances Industrial Park. Up to now, CDB has provided more than 50 billion US dollars in investment and financing to nearly 500 projects in 43 African countries.

In providing comprehensive financial services, CDB has funded the establishment of the China-Africa Development Fund and exclusively provided special loans for the development of small and medium-sized enterprises in Africa. At present, the China-Africa Development Fund has a total amount of 10 billion U.S. dollars, having promised to invest a total of 4.6 billion U.S. dollars in more than 90 projects in 36 countries in Africa, which actually invested more than 3.3 billion U.S. dollars, driving Chinese enterprises to invest more than 23 billion U.S. dollars to Africa. The special loans for the development of small and medium-sized enterprises in Africa totaled US$6 billion, with a cumulative loan commitment of US$4.2 billion, which directly creates 87,000 jobs for the local area.

In terms of support capacity, CDB has completed planning consultation reports for 18 African countries, organized more than 2,400 participants from 54 African countries to participate in various exchange trainings, and funded and rewarded African students for long-term study in China through scholarships.

Export market research for foreign trade enterprises

US import trade intelligence data

US customs data is derived from US bill of lading data and US manifest data, detailing each shipment information of goods imported by US importers from around the world.

The value of US import customs data to foreign trade enterprises

● Know your market

We offer customized reports for companies who want to do business with US including US importers report, US suppliers report, price report, etc.. We also provide trade data consultation.

● Know your competitors

The report provides insight into suppliers information, so if you are a exporter, you can know the transaction information of other US’s suppliers who are your competitors. Our customers can find business opportunities by our US customs import data so as to improve their business performance.

● Learn your potential customers

Our data is updated timely, so can know the dynamic of the US buyers timely, too. By comparison of our US buyers reports updated monthly, you can have the knowledge who your potential buyers are in US, thus make corresponding strategies to turn these potential customers into real customers.

US Customs Trade Data

※ Tradedigits allows you to check the US Customs import records for millions of real shipments online.

※ You can search for the names of overseas suppliers or American importers. so you are able to know who is importing from whom.

※ You can also find import records for specific products.

At present, we provide a free 7-day trial service for the US import data. Simply log in the website-data.inforvellor.com and register for an account, then you can start using it immediately.

US’s trade deficit rose to the highest level in five months

China Customs Issues a New Policy on Processing Trade

On August 13th, the General Administration of Customs issued the Announcement No. 104 of 2018 on the Relevant Matters Concerning the Supervision of Processing Trade. In conjunction with the amendment of No. 240 on the Measures for the Supervision of Customs Processing Trade Goods of the People’s Republic of China, the General Administration of Customs announced the 13 issues of processing trade supervision.

Of the 13 issues, 10 aim to make the specific articles (a total of 9 articles) of the Measures for the Supervision of Goods in Processing Trade clear and detailed:

Article 2: It emphasizes that the relevant procedures should be handled within the “validity period of the manual”;

Article 6: Regarding the details added to the articles of the “mortgage”;

Article 9: Regarding description of “separate management” and definition of “filing place”;

Article 21: Regarding “transference of products for downstream processing”;

Article 22: Regarding “outward processing”;

Article 25: Regarding “exchange”;

Article 27: Regarding “Re-export” of after-sales service for processing trade;

Article 31-1: Regarding the documents for “domestic sales”;

Article 31-2: The principle of treatment for goods cannot be re-exported;

Article 40: Regarding “registration” of the business unit.

The other three questions are not concerning specific articles:

The documents required for “remaining material carry-over”;

Treatment of “unreported and unexamined expired manual”;

The use of “paper documents”.

If we carefully study the specific content of Announcement 104, we will find that there are no significant differences and changes in the requirements of these 13 issues compared with the current requirements. In fact, it can not be called a “new provision”.

To learn more about Chinese buyers and suppliers, please visit China trade data.

China improves export tax rebate by further reducing firms cost

US&Mexico agree to impose quantity restrictions on car imports

According to the report of Nihon Keizai Shimbun, the United States and Mexico renegotiated around the North American Free Trade Agreement (NAFTA) and agreed that if the passenger car imports exceed a certain level, the United States has the right to impose a maximum of 25% tariff. The plan is to set an upper limit of 2.4 million units, equivalent to 140% of the number of exports achieved in 2017. This becomes an exact quantitative limit and reappears the prone approach of high tariffs carried out by the Trump administration seeking to protect its own industries.

In 2017, Mexico exported 1.7 million passenger cars to the United States. If the number is limited, there will be about 40% export growth before the 25% tariff applies.

The above provisions were included in the subsidiary documents of the NAFTA-related bilateral agreement between the United States and Mexico on the 27th August. Mexican Economy Minister Guajardo revealed the above news to the local media on August 29th.

Within the quantity quota, as before, products that comply with the NAFTA “Rules of Origin” are not subject to customs duties. For those can not meet the rules, will suffer the 2.5% tariff.

The Trump administration of the United States is discussing the imposition of an additional tariff of 25% on imported cars from such as Japan and Europe on the grounds of influencing security.

Alcoa seeks to obtain an aluminum tariff exemption

How India’s exports benefit from the US-China trade war

Although the ongoing trade war between the two largest economies in the world, the United States and China, has triggered alarms for global economic growth, India may eventually become a major beneficiary if India is to function properly.

In the face of higher import tariffs imposed by Beijing, India can capture the Chinese commodity market vacated by US exports. In fact, India can replace US exports to China on at least one hundred kinds of products, totaling about $130 billion.

In the last fiscal year, India’s exports to China were 12480 crore, while its imports from China’s totaled Rupee 419 million. In other words, the trade deficit far exceeds 400,000 rupees.

The overlapped products which are imported from both the United States and India and are within China-US trade war list are particularly interested in by India. For example, fresh grapes, cotton linters, flue-cured tobacco, lubricants and benzene, etc.. India also exports these items to China.

“India has the chance to export more of these products to China due to tariff differences and China’s large demand,” said people familiar with the matter. The good news for India is that although China imposes a 15-25% tariff on these goods from the United States, other countries only need to pay a 5-10% tariff.

In addition, according to the Asia-Pacific Trade Agreement, India has received an additional 6% to 35% MFN tax reduction, which makes Indian exports currently more competitive.

In addition to China, India also exports products to other parts of the world, products such as oranges, almonds, walnuts, durum wheat, corn and grain sorghum. It is worth noting that the value of these products exported by the United States to China exceed $10 million.

Learn more about India trade information by India trade data (or India import export data)

India substantially reduces its oil import from Iran