INSIGHTS From January 1, 2025, China will adjust import tariffs, applying provisional rates below most-favoured-nation levels to 935 commodities to boost high-quality imports. Zero-tariff treatment will continue for 43 least-developed countries. Under 24 trade agreements, tariffs will be reduced, including the China-Maldives deal, cutting nearly 96 per cent to zero. China will adjust import tariff rates and categories to stimulate domestic demand and enhance openness from January 1, 2025. Pro

INSIGHTS The World Bank projected China's GDP growth at 4.8 per cent in 2024. Manufacturing saw mixed performance, with the PMI dropping to 49.3 in September. Textile exports rose 1.4 per cent in H1 2024, led by fabric exports, while garment exports declined. China aims for a $2.1 trillion green economy by 2030, with full adoption of sustainable practices by 2035. Economic activity picked up in China in early 2024, buoyed by stronger exports. The World Bank projected China’s GDP grow

INSIGHTS China's goods and services trade reached 4.28 trillion yuan (~$599.2 billion), up 3 per cent YoY in November. Exports totalled $332.8 billion, and imports $263.8 billion, resulting in a $69 billion trade surplus, according to Chinese state media citing SAFE. Goods exports were 2.15 trillion yuan (~$301 billion), imports 1.57 trillion yuan (~$219.8 billion), with a surplus of 584.6 billion yuan. China's international trade in goods and services totalled approximately 4.28 trillion-yua

INSIGHTS Sinopec's Zhenhai Refinery completed its second-phase expansion, boosting capacity to 40 million tons annually and advancing the Zhejiang Ningbo Petrochemical Base to 50 million tons, solidifying its role as China's largest petrochemical hub. With a $5.82 billion investment, the project adds 18 units, enhances high-end material production, and achieves innovations in efficiency and sustainability. China Petroleum & Chemical Corporation's (HKG: 0386, "Sinopec") recently announced

INSIGHTS China's exports rose 6.7 per cent YoY to 23.04 trillion yuan (~$3.2 trillion) and imports grew 2.4 per cent to 16.75 trillion yuan (~$2.3 trillion) during January-November 2024. The total trade increased 4.9 per cent to 39.79 trillion yuan (~$5.6 trillion). In October, trade expanded 4.6 per cent YoY. From January-October, trade rose 5.2 per cent to 36.02 trillion yuan (~$5 trillion). China’s exports increased 6.7 per cent year on year (YoY) during the first 11 months (January-

INSIGHTS Prices for US imports increased by 0.1 per cent for the second consecutive month in November and October this year after declining by 0.4 per cent in September and by 0.3 per cent in August. US export prices remained unchanged in November following a 1-per cent rise the previous month, and declining by 0.6 per cent in September and by 0.7 per cent in August. Prices for US imports increased by 0.1 per cent for the second consecutive month in November and October this year after declin

INSIGHTS Fitch Ratings revised its global container shipping outlook to 'stable' from 'deteriorating', citing stability in tankers and bulk despite container shipping challenges. Risks include geopolitical conflicts, trade policy shifts post-2024 US elections, and 2025 oversupply. Emissions regulations add long-term cost pressures, requiring asset investments. Fitch Ratings has revised its outlook for global container shipping from ‘deteriorating’ to ‘stable’, anticipa

INSIGHTS Universal Fibers invests in new spinning capacity for Nylon 6,6 yarns to support customers after Ascend exits the BCF fibre market. Focused on innovation, sustainability, and quality, the company expands its product lineup to meet evolving demands. CEO Marc Ammen highlights their commitment to customer satisfaction, growth, and providing reliable, high-performing solutions. As the fiber market continues to evolve, Universal Fibers, a leader in innovative fiber solutions, continues i

INSIGHTS The seasonally-adjusted US consumer price index for all urban consumers rose by 0.3 per cent month on month (MoM) in November after rising by 0.2 per cent in each of the previous four months. The pre-seasonal adjustment all items index rose by 2.7 per cent over the last 12 months. The energy index rose by 0.2 per cent MoM after being unchanged in October. The apparel index also rose in November. The US consumer price index for all urban consumers (CPI-U) increased by 0.3 per cent mon

INSIGHTS Trade tensions and likely US tariff hikes may hit global trade, exacerbating the growth challenges faced by European and Middle East seaports, Fitch Ratings said. A slow recovery in demand for consumer goods is likely to continue in Europe in 2025, supporting the seaport sector, it noted. The Middle East and eastern Mediterranean face port overcapacity risks as construction outpaces demand growth. Growing trade tensions and likely tariff increases by the incoming US administration ma