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Major Events in Foreign Trade this Week: Brazil Grants Duty-Free Status to 628 Imported Products, While China and Ecuador Agree to Eliminate Tariffs on 90% of their Respective Tax Categories
May 12th , 2023 April Foreign Trade Data: On May 9th, the General Administration of Customs announced that China’s total import and export volume in April reached 3.43 trillion yuan, a growth of 8.9%. Among this, exports amounted to 2.02 trillion yuan, with a growth of 16.8%, while imports ...Read more -
Pakistan to purchase Russian crude oil with Chinese yuan
On May 6th, Pakistani media reported that the country may use Chinese yuan to pay for the crude oil imported from Russia, and the first shipment of 750,000 barrels is expected to arrive in June. An anonymous official from Pakistan’s Ministry of Energy stated that the transaction will be sup...Read more -
US to Implement Comprehensive Ban on Incandescent Light Bulbs
The US Department of Energy finalized a regulation in April 2022 prohibiting retailers from selling incandescent light bulbs, with the ban set to take effect on August 1st, 2023. The Department of Energy has already urged retailers to begin transitioning to selling alternative types of light bu...Read more -
Dollar-Yuan Exchange Rate Breaks 6.9: Uncertainty Prevails Amid Multiple Factors
On April 26th, the exchange rate of the US dollar to the Chinese yuan breached the 6.9 level, a significant milestone for the currency pair. The following day, April 27th, the yuan’s central parity rate against the dollar was adjusted up by 30 basis points, to 6.9207. Market insider...Read more -
The price is only 1 euro! CMA CGM “fire sale” assets in Russia! More than 1,000 companies have withdrawn from the Russian market
April 28th, 2023 CMA CGM, the world’s third largest liner company, has sold its 50% stake in Logoper, Russia’s top 5 container carrier, for only 1 euro. The seller is CMA CGM’s local business partner Aleksandr Kakhidze, a businessman and former Russian Railways (RZD) executive....Read more -
China’s Ministry of Commerce: Complex and Severe Foreign Trade Situation Persists; New Measures to be Implemented Soon
April 26th, 2023 April 23rd – In a recent press conference held by the State Council Information Office, the Ministry of Commerce announced a series of upcoming measures to address the persistently complex and severe foreign trade situation in China. Wang Shouwen, Deputy Minister and...Read more -
Shipments from Asia to the US fell 31.5% in March! The size of furniture and footwear has been halved
April 21, 2023 Several sets of data suggest that American consumption is weakening U.S. retail sales slowed more than expected in March U.S. retail sales fell for a second straight month in March. That suggests household spending is cooling as inflation persists and borrowing costs rise. Retail ...Read more -
EU Plans 11th Round of Sanctions on Russia, and WTO Rules Against India’s High Tech Tariffs
EU plans 11th round of sanctions against Russia On April 13, Mairead McGuinness, the European Commissioner for Financial Affairs, told U.S. media that the EU is preparing an 11th round of sanctions against Russia, focusing on measures taken by Russia to evade existing sanctions. In response, Russ...Read more -
Dynamic | Law Can Assign Training, Escort Development, China-base Ningbo Foreign Trade Co.,LTD. Held in the Foreign Trade Law Seminar
April 14, 2023 At noon on April 12, China-base Ningbo Foreign Trade Co.,LTD. legal lecture entitled “Legal Issues of the Greatest Concern to Foreign Trade Enterprises – Sharing of Foreign Legal Cases” was successfully held in the conference room on the 24th floor of the Group. T...Read more -
UK Inflation Soars, Supermarkets Lock Up Butter as Theft Rises Amid Brexit Aftermath
The UK’s economy is being severely impacted by high inflation and the consequences of Brexit. In recent months, prices have skyrocketed, leading many people to avoid spending more on goods, resulting in a surge in supermarket thefts. Some supermarkets have even resorted to locking up butter...Read more -
China-Base Ningbo Foreign Trade CO.,LTD. won the honors of ningbo foreign trade and economic cooperation enterprise association
China-Base Ningbo Foreign Trade CO.,LTD. won the honors of ningbo foreign trade and economic cooperation enterprise association April 7, 2023 On March 29, 2023, the Ningbo Association of Foreign Economic and Trade Enterprises held the 20th anniversary of its establishment, attended by more tha...Read more -
CHINA-BASE Ningbo (CBNB) Wins Multiple Honors at Ningbo Foreign Trade Association Awards Ceremony
CHINA-BASE Ningbo (CBNB) Wins Multiple Honors at Ningbo Foreign Trade Association Awards Ceremony CBNB—CHINA-BASE Ningbo Group, a leading company in the region, received multiple honors at the 20th anniversary event of the Ningbo Foreign Trade Association on March 29, 2023. The ceremony, attende...Read more
