China E-commerce law implemented officially

On January 1st, 2019, the “Electronic Commerce Law of the People’s Republic of China” (referred to as the E-commerce Law) was officially implemented. This is China’s first comprehensive law in the field of e-commerce. It has made relevant regulations on personal purchasing on others’ behalf, brushing, big data killing, and bundled sales.

China trade data

The implementation of the e-commerce law plays an important role in the market, making the regulation of e-commerce more standardised. As far as the current situation is concerned, the implementation of the E-commerce Law will allow more shops and individual consumers to have legal compliance and rationality, so that more people can better protect their rights and interests. Subject to the new e-commerce law, illegal acts such as brushing orders, false transactions, and consumers deceiving will be gradually eliminated. The improvement of product quality and service quality will definitely make the e-commerce market reach consumption upgrade.

After the implementation of the E-commerce Law, it is necessary to apply for registration for enterprises or individuals. As long as it is an e-commerce operator, it must have business license registered so that it’s available to check it. This will better circumvent more non-professional practitioners and counterfeit people.

In terms of e-commerce platform liability, the e-commerce platform knows or should know that if the operator has violated the legitimate rights and interests of consumers, and if it fails to take necessary measures, it shall bear joint and several liability. For goods or services that affect the life and health of consumers, if the e-commerce platform does not fulfill the auditing obligations for the qualifications of the operators in the platform, or it is not responsible for the security of the consumers, but causes harm to the consumers, it must bear corresponding responsibilities according to the law. If the harm is serious, the maximum fine is 2 million yuan.

Mainland and Hong Kong CEPA Agreement on Trade

With the approval of The State Council of the People’s Republic of China, on the morning of December 14th, 2018, Fu Ziying, the international trade negotiator and deputy minister of the Ministry of Commerce, and the Hong Kong Financial Secretary Chen Maobo signed the CEPA  Agreement on Trade in Hong Kong. According to the Agreement, from January 1st, 2019, the goods imported from Hong Kong to the mainland China will fully enjoy zero tariff.

CEPA Agreement in Goods

The newly signed CEPA Agreement on Goods Trade has stipulation on tariffs and tariff quotas:

First, Hong Kong should continue to impose zero tariffs on all imported goods originating in the Mainland. And the Mainland should implement zero tariffs on imported goods originating in Hong Kong from Jan. 1st, 2019.

Second, one party could not impose tariff quotas on imported goods originating from the other party.

It is reported that the “CEPA Agreement on Trade” is an important part of the CEPA upgrade. It is a special economic and trade arrangement between the mainland and Hong Kong in accordance with the rules of the World Trade Organization under the “one country, two systems” framework. The CEPA Agreement on Trade is a sub-agreement of CEPA, having completed the CEPA upgrade together with the previously signed CEPA Agreement onService Trade, CEPA Agreement on Investment and CEPA Economic and Technical Cooperation Agreement.

After signing the Agreement, the two parties completed the goal of promoting the Arrangement upgrade proposed in the national “13th Five-Year Plan” ahead of schedule, and the CEPA is upgraded into a more comprehensive modern free trade agreement covering four important areas-goods trade, services trade, investment, as well as economic and technical cooperation.

Tradedigits closely concerns various issues and dynamics of international import and export activities and is dedicated to the statistics and research of big data of global import and export. It has significant commercial values as it provides global buyers list with contact methods to help business people find their global buyers.

Chinese ports to levy a low-sulphur fuel fee from Jan. 1st

Following the introduction of the LSS low-sulphur surcharge in Shanghai Port and Ningbo Port in November, from January 1st 2019, this surcharge will be introduced in other ports in China!
At present, many shipping companies shipping from various ports such as Qingdao Port, Tianjin Port, Shenzhen Port etc., have released notices of this news.
It is reported that with the approaching of the “Sulfur Limit Order” formulated by the International Maritime Organization (IMO), major shipping companies have developed measures to deal with it. Since the cost of low-sulfur oil is higher than that of ordinary diesel, many shipping companies have decided to share the charge with the cargo owners since January next year. It is estimated that generally US$20 will be charged per TEU.
The International Maritime Organization’s “Sulfur Limit Order” aimed to protect our environment, but at the same time, it also affects international shipping companies. For shipping companies, they should pay close attention to this and well negotiate with the consignors about the charge sharing. Besides, when the price/quote is quoted, it is necessary for them to add this cost!
Tradedigits closely concerns various issues and dynamics of international import and export activities and is dedicated to the big data of international trade. It provides customs trade data of various global countries including China trade data. It is able to provides China import and export data of any HS code under any chapter. The trade data contains raw data which is the declaration/bill of lading records from China Customs, and processed data by our IT technology which is the Chinese market research and analysis report. The data contains valuable business intelligence such as Chinese buyers and sellers list, import and export prices, country of origin and so on, which are all to help foreign trade companies to better understand the Chinese market and find their Chinese buyers or suppliers. To learn more, please visit the website: https://www.tradedataeasy.com.

10,000 MTs China steel rails shipped to Indonesia for key projects construction

The 11,000 MTs Japanese standard “HH370 online heat-treated steel rail” produced by China’s Angang Steel Co., Ltd. (hereinafter referred to as Angang for short) went to the sea successfully from Bayuquan Port, Liaoning Province on the 4th. Angang announced that the batch of rails would be applied to the Indonesian “PT.SERVO” project.

This is another application of the Angang Steel Rails in the countries along the “Belt and Road” following the laying of the “Eastern Economic Corridor” in Thailand.

It is understood that the “PT.SERVO” project is a key project in the development plan launched by the Indonesian government. The route designed is from the Tanjung Rahat Mine to Panjiang Port, with a total length of 150 kilometers.

Angang aims at the world’s most advanced heat-treated rail production process and technology. Through years of painstaking study, it has brought the hardness, hardenability layer and uniformity of its steel rail to the international advanced level.

In recent years, Angang’s online heat-treating steel rail have continuously expanded overseas “friends circle” and took advantage of China’s “Belt and Road” initiative to set up a new pattern of export in more than 30 countries and regions along the “Belt and Road”.

At present, Tradedigits is available to provide China import and export customs data of any HS code and any chapter. Our China import and export customs data not only contains raw trade data from China Customs, but also contains China import and export statistics and analysis report, the combination of which helps foreign trade companies to clearly understand the market, price, competitive situation and provide scientific solutions for business competitiveness.

China’s trade volume 2018 exceeds 2017

According to China customs data, China’s total import and export volume from January to mid-November exceeded the overall trade volume in 2017.

The General Administration of Customs (GAC) did not publish detailed data, but said the figure was nearly 15% higher than the same period in 2017. In 2017, China’s total foreign trade volume was 27.79 trillion yuan (about 4 trillion US dollars).

Despite of the increase in external uncertainty, China’s exports and imports grew strongly in October, up 14.2% year-on-year. In the first 10 months of this year, the total volume of foreign trade was 25.05 trillion yuan, an increase of 11.3% over the same period last year.

China customs statistics data of 8 digits HS code covers customs data from 2007 to the latest totalled tens of millions of data entries, giving quantity and amount statistics of more than 20 major countries’ import and export goods with 8 digits HS code. The data is comprehensive, reliable and internationally comparable. Tradedigits is devoted to making statistics and analysis of actual import and export goods. By sorting and processing the import and export goods declaration forms, it then makes comprehensive statistics and analysis reports containing multiple fields like HS codes, quantities, prices, countries, ports of departure and destination, trade mode, transportation mode, customs and so on.

Tradedigits helps Chinese foreign trade companies locate the market, assess market share, accurately predict market dynamics, and analyze demand for different foreign trade markets to develop potential markets. China customs data is the most authoritative foreign trade analysis tool for analyzing the China import and export for various enterprise market development departments.

China’s Fujian Pilot Free Trade Zone launches 339 innovative initiatives

Since the establishment in April 2015, Fujian Pilot Free Trade Zone has been adhering to positive progress, bold trials, and independent reforms, and innovation has become the main theme of its birth.

Up to now, the overall plan of the Fujian Pilot Free Trade Zone has identified 186 key test tasks, among which 178 test tasks have been implemented and achieved initial results; 339 innovative initiatives have been launched; 110 innovative cases have been issued… More than 3 years since its establishment, the reform experiment field – Fujian Pilot Free Trade Zone continues creating new innovation to improve its development.

China import and export statistics and reports is a necessary tool for foreign trade companies to monitor their competitive environment. It helps import and export companies monitor competitors, analyze the market, and make smart marketing decisions in the modern information age. Tradedigits’s trade information comes from China’s import and export declarations. It helps companies to clearly understand the market situation, price, and competitive situation. It also provides scientific solutions for corporate competition.

At present, Tradedigits can provide import and export trade data of 20 countries around the world, by which the data users can develop customers in different markets.

China Customs Data Customizes Trade Solutions

Tradedigits helps its users get the latest Chinese market news and China import and export information of target products:

● Dynamic detection of the latest Chinese market trends and trade information for target products

● Corporate data like details of traders, partners, potential Chinese buyers, competitors of a target product

● Other trade data such as trade information on tariffs, freight, ports, etc.

● Analysis reports on price, quantity, weight, port, etc.

Tradedigits integrates the real and authoritative China trade data of the official governments of China into the China import and export statistics, which supports multiple search conditions to search trade data, such as goods description, company name, port, place of origin, etc. Tradedigits provides the latest trade transaction data between importers and exporters in China, and offer comprehensive analysis and assessment from various perspectives such as industries, buyers, competitors, etc.

Relying on China import and export data, Tradedigits can customize trade analysis reports according to the needs of its users. The analysis reports contain the latest import and export trend changes report, market distribution analysis report, price analysis report, trade habit analysis report of designated Chinese importers and exporters, Chinese importers report, and so on. All these reports can be used as market assessment, helping companies make better business decisions, improve competitiveness, find trade opportunities and increase the chances of business success in Chinese market.

China’s export unexpectedly strong in October beyond US tariffs

In October, China’s foreign trade continued its positive situation in September. Excluding January and February this year, in Octomer both import and export growth rates hit a high point during the year. China’s strong internal demand has supported the rapid growth of imports over exports. The first session of China International Import Expo has released a positive signal that China will further expand its imports. On the export side, the government suggests its foreign trade companies should think about their survival pressure after the “selling out” dividend period, and better cope with the current new normal of Sino-US trade.

China customs data on Thursday showed that China’s exports last month increased by 15.6% from the same period of the previous year, rising from 14.5% in September and exceeding the analyst’s expectation of moderate slowdown to 11%.

Despite of the several rounds of US tariffs this year, China’s exports are surprisingly resilient. Chinese companies can increase shipments despite of US tougher tariff measures.

Container shipping rate from China to the US West Coast is still close to historical highs, which means shipments from November to early December will remain stable. China’s exports to the United States increased by 13.2% in October year-on-year.

The Oxford Economics Institute estimates that China’s export has also seen steady growth and is estimated to be “impressive”.

But analysts claim that strong export will not last longer for surveys on Chinese factory show that Chinese export orders have been reduced for several months.

Shanghai steel prices fall for weak economic growth in and tight trade out

The most active construction steel rebar for January delivery on the Shanghai Futures Exchange closed down by 1.2% to 4,127 yuan ($592.19) per ton, after a one-week low price at 4,113 yuan.

The price of hot-rolled coils also fell, falling by 2.9% to 3,751 yuan per ton, the lowest since July 9, and then rose by 1.6% to 3,802 yuan per ton, a drop of 1.4% finally.

China’s official Purchasing Managers Index (PMI) showed that Chinese steel prices index fell to 50.2 in October, the lowest level since July 2016, down from the 50.8 in September, indicating that the economy has been increasingly influenced due to the growing trade war with the United States.

Among the steel raw materials, the futures of iron ore on Dalian Commodity Exchange closed down 0.8% to 533.5 yuan per ton, and fell for the second consecutive transacting day after hitting a seven-month high on Monday.

Iron ore trade increased by 8.1% in October which was the best month since November 2017 due to lower shipments from Rio Tinto.

Dalian coke futures closed down 0.4% on Wednesday and coking coal’s fell by 0.3%.

Know more about China’s steel export by searching China export database, by which you can learn:  Who is exporting? Where does it export to? What are the quantities? And who buys the goods?

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%.