US Dollar Exchange Rates of
25th March
2021
China Yuan 6.5697
Report from China
Investment in housing spikes along with retail sales of
furniture
The National Bureau of Statistics has made available a
press release on real estate development and sales.
Between January to February investment in real estate
development increased 38% year on year which is around
5% higher than in January.
Residential investment expanded over 40% and household
consumption connected to housing growth also increased.
For example, consumption of building and decoration
materials rose 53% from last year and there was an almost
60% rise in sales of furniture in January 2021.
Real estate investment in the eastern region was up
32%
year on year; investment in the central region was up 52%;
investment in the western region was up 45% and
investment in the northeast region was 29%. Between
January and February the area of land purchased area by
real estate companies increased over 30%.
See:
http://www.stats.gov.cn/english/PressRelease/202103/t20210316_1814918.html
In related news, over the same period retail sales of
consumer goods increased over 30% year on year with
sales of furniture increasing almost 60%.
See:
http://www.stats.gov.cn/english/PressRelease/202103/t20210316_1814920.html
Decline in 2020 log imports
According to China Customs, log imports in 2020 totalled
59.20 million cubic metres valued at US$8.415 billion
(CIF), a year on year decline of 2% in volume and 11% in
value. The average price for imported logs was US$141
(CIF) per cubic metre, down 9% on levels in 2019.
Of total 2020 log imports,softwood log imports rose 4% to
46.86 million cubic metres, accounting for 79% of the
national total, 4% up on 2019. The average price for
imported softwood logs was US$117 (CIF) per cubic
metre, down 6% on levels in 2019.
It has been forecast that as much as 500 million
cubic
metres of European spruce will be harvested by 2024 and
most of these softwood logs will be imported by China via
the China-Europe Railway Express.
Softwood log imports from Germany soared
In 202 the volume of softwood log imports from most
countries however, from Germany, the Czech Republic
and Japan imports increased which contribute to the
overall rise increase in softwood log imports even during
the pandemic.
New Zealand was the main softwood log supplier to China
in 2020 accounting for 34% of total softwood log imports.
Softwood log imports from New Zealand totalled 16.15
million cubic metres in 2020, a year on year decline of
8%.
Germany became the second main supplier of softwood
logs imports at 9.98 million cubic metres, a year on year
increase of 162%, accounting for about 21% of the total
softwood log imports in 2020, exceeding imports from
Russia for the first time.
China¡¯s softwood log imports from the Czech Republic
and Japan in 2020 rose 47% and 23% to 3.38 million cubic
metres and 1.15 million cubic metres respectively.
Russia ranked the third supplier of China¡¯s softwood logs
imports at 4.43 million cubic metres in 2020, a year on
year decline of 24% and accounted for 9.5% of total
softwood log imports in 2020.
 
Hardwood log imports in 2020
Hardwood log imports in 2020 fell 17% to 12.64 million
cubic metres (21% of the national total log imports). The
average price for imported hardwood logs in 2020 was
US$232 (CIF) per cubic metre, down 6% on 2019. Of total
hardwood log imports, tropical log imports were 8.581
million cubic metres valued at US$2.932 billion CIF,
down 7% in volume and 13% in value from 2019 and
accounted for 14% of the national total import volume,
down 1% on 2019.
The average price for imported tropical logs was US$229
CIF per cubic metre, down 8% on levels in 2019. The
value of tropical log imports in 2020 was US$1.968 billion
CIF, reflecting a 13% decline.
Before its log export ban Myanmar was a major source of
tropical logs for China. However, China¡¯s log imports
from Myanmar in 2020 fell to just 2,490 cubic metres
valued at US$2.77 million (CIF), down 78% in volume
and 80% in value. The average price for imported logs
from Myanmar fell in 2020 to US$1,111 (CIF) per cubic
metre, down 9% over 2019.
China imported tropical logs mainly from Papua New
Guinea (30%), Solomon Islands (23%), Republic of
Congo (7%) and Cameroon (5%). Just 9 countries
supplied 86% of China¡¯s tropical log requirements in
2020.
Log imports from the main tropical suppliers, namely
PNG, Solomon, Brazil, the Republic of Congo, Cameroon,
Equatorial Guinea, Suriname and Central Africa fell 1%,
10%, 9%, 6%, 4%, 3%, 4% and 3% in 2020 respectively.
However, log imports from Sierra Leone alone rose
slightly.
 
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