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Over 600 basis points! The RMB exchange rate is rising strongly
On the 25th, the Chinese yuan exchange rate suddenly experienced a “big explosion”. As of 17:30 on July 25th, the onshore Chinese yuan to US dollar exchange rate (CNY) and offshore Chinese yuan to US dollar exchange rate (CNH) in the domestic market and overseas market respectively hi...Read more -
Shipping market reaches peaks and falls: ‘Uncertainty’ remains the main theme in the second half of the year
The Chinese export container transportation market has been continuously rising for three months since mid April this year, and then peaked and fell back in early July. Recently, multiple shipping companies, research institutions, and others have released predictions that the shipping sub market ...Read more -
The International Monetary Fund has raised its forecast for China’s economic growth this year to 5%
The International Monetary Fund (IMF) released an update to its World Economic Outlook report on the 16th, expecting China’s economy to grow by 5% in 2024. Pierre Olivier Gulancha, Chief Economist of the IMF, stated that emerging Asian economies such as China remain the main engines of the ...Read more -
The scale of China’s foreign trade reached a new high in the first half of the year
How does China’s foreign trade “carriage” perform in the complex external environment? On the 12th, the General Administration of Customs released data showing that in the first half of this year, China’s total import and export value of goods trade was 21.17 trillion yuan...Read more -
Ocean freight prices have significantly increased year-on-year
Neither the busy Chinese New Year in Asia nor the important Black Friday and Christmas in Europe and America, the international shipping market suddenly experienced a surge in freight rates in what should have been a dull June. According to the main route container spot price index FBX compiled b...Read more -
What is the next trend for the Chinese yuan exchange rate as it falls to a low point within the year?
As of 4:59 am on June 26th, the offshore Chinese yuan (CNH) was trading at 7.2893 yuan against the US dollar, down 61 points from late Monday trading in New York. The overall intraday trading was in the range of 7.2763-7.2907 yuan. As strong employment data in the United States further slows down...Read more -
Changes in Export Data of Major Textile and Clothing Countries
According to the latest data released by the General Administration of Customs on July 13th, in US dollars, China’s textile and clothing exports in the first half of the year totaled 142.68 billion US dollars, a year-on-year decrease of 8.3%, and the overall performance is not as good as th...Read more -
The trade ban on the largest exporter of rice has disturbed the world
According to media reports on Tuesday, affected by the export ban imposed by India, the world’s most important rice exporter, at the end of last month, rice merchants from major exporting countries such as Thailand and Vietnam are urgently negotiating to adjust sales contracts for nearly 50...Read more -
The Peak Season for Foreign Trade Is Approaching , Market Expectations Are Improving
Looking forward to the third quarter of this year, Zhou Dequan, director of the China Shipping Prosperity Index Compilation Office, believes that the prosperity and confidence index of all types of shipping enterprises will recover slightly in this quarter. However, due to the oversupply in the t...Read more -
Stacking of empty containers at the dock
Under the contraction of foreign trade, the phenomenon of empty containers piling up at ports continues. In mid July, on the wharf of Yangshan Port in Shanghai, containers of different colors were stacked neatly into six or seven layers, and the empty containers piled up in sheets became the scen...Read more -
The RMB exchange rate is expected to return below 7.0 by the end of the year
Wind data shows that since July, the U.S. Dollar Index has continued to decline, and on the 12th, it fell 1.06% sharply. At the same time, there has been a significant counterattack on the onshore and offshore RMB exchange rate against the US dollar. On July 14th, the onshore and offshore RMB con...Read more -
Indian customs detained goods from China on suspicion of invoicing at a low price
According to China’s export data, the trade volume with India in the first nine months of 2022 was 103 billion US dollars, but India’s own data shows that the trade volume between the two sides is only 91 billion US dollars. The disappearance of $12 billion has attracted India’s...Read more