US Dollar Exchange Rates of
10th
Oct
2022
China Yuan 7.1545
Report from China
Vietnam imposes
anti-dumping duty on Chinese
furniture
On 30 September 2022 Vietnam's Ministry of Industry and
Trade issued Decision No. 1991 (1991/Q-BCT) to apply
provisional anti-dumping measures against some furniture
(table and chairs) originating in Malaysia and China. The
latest anti-dumping duties imposed ranged from 21.4% to
35.2%. The duty will become effective in mid-October.
The authorities in Vietnam said this was because of a
"significant" increase in the number of tables and chairs
imported from China which had hurt domestic production.
It has been reported that on 1 September 2021, Vietnam
launched an anti-dumping duty investigation against
imports of table and chair products from China and
Malaysia.
The survey pointed out that the volume of table and chair
products imported from China was significantly higher
than the domestic production and sales volume in Vietnam
which had a serious impact on the Vietnamese furniture
manufacturing industry. The HS code involved are shown
in the link below and there are some exceptions.
China is now Vietnam's main trading partner and a source
of key raw materials and equipment for its manufacturing
sector.
In the first nine months of this year bilateral
trade between
China and Vietnam stood at US$131.7 billion, of which
Vietnam imported products worth US$91.6 billion from
China. Vietnam's Ministry of Industry and Trade said it
would continue to collect information from relevant
parties to assess the impact of anti-dumping measures on
all parties.
Policies to stabilise foreign trade
In the first eight months of 2022 China's imports and
exports once again showed strong resilience but there is
increasing pressure to maintain steady growth and the
authorities found it necessary to introduce a new round of
policies to stabilise foreign trade to help enterprises.
The Chinese government has put forward policies and
measures to ensure production and the implementation of
contracts and further promote unimpeded trade. The
Ministry of Commerce will implement a new round of
foreign trade policies to ensure that this year's goal of
maintaining stability and improving foreign trade is
achieved including ensuring timely delivery of foreign
orders.
Given the current slowdown in external demand growth it
is important for companies to ensure that orders can be
produced, shipped and delivered on time.
In terms of production protection, the government
‘Policies and Measures’ clearly state that local
governments should strengthen the protection of export
enterprises in various aspects such as epidemic prevention,
energy use, labour use and logistics and give full support
when necessary to ensure timely delivery of foreign
orders.
In terms of protecting key enterprises, the Ministry of
Commerce has established a "white list" of foreign trade
enterprises proactively providing front-line services to
solve the practical difficulties of international foreign trade
enterprises. Customs clearance operations will be
conducted to support the new policies.
Support for cross-border e-commerce
In recent years cross-border e-commerce has developed
steadily and gradually become an important contributor to
trade flows. Growing and robust online consumer demand
in all countries offers growth opportunities for crossborder
e-commerce.
China's cross-border e-commerce import and export
volume was RMB1.62 trillion in 2020, up 26%. In 2021 it
was RMB1.92 trillion, an increase of 19% year on year. In
the first eight months of 2022 China's cross-border ecommerce
still showed very good growth.
To further support the role of cross-border e-commerce in
stabilising foreign trade, "Policies and Measures"
proposed, the introduction of additional support for crossborder
e-commerce offshore warehouse development
policy measures.
To support growth in cross-border e-commerce a second
phase of the Service Trade Innovation and Development
Guidance Fund will be launched to further stimulate social
capital and the existing funding channels such as the
special fund for foreign trade and economic development
will be coordinated and utilised to jointly support the
development of cross-border e-commerce, overseas
warehouses and other new forms of foreign trade.
Largest timber production base in Guangxi
Guangxi ranks first in China in the area of plantation
forests, the scale of national reserve forest establishment
and harvestable volumes and has become the largest
timber production base in China. Through construction of
a new land-sea corridor in the west the local government
will build a major forest product trading hub node.
Over the past ten years Guangxi has planted 200,000
hectares of trees annually and its timber output has
increased 7% annually. With about 5% of the country's
forest land, Guangxi has produced nearly half of the
country's domestic timber.
The total output value of the forestry sector increased from
RMB219 billion in 2012 to RMB849 billion in 2021 with
an average annual growth rate of 16% and the total output
value of the forestry industry jumped to the second place
in China.
Guangxi hosted the China-ASEAN Forest Exhibition and
the World Conference on Wood and Wood Products Trade
becoming an important node of the "double cycle" of
forestry, attracting timber trading enterprises from
Southeast Asian countries, Russia, Canada, New Zealand
and other countries.
China's first modern forest industry demonstration zones
have been built by the Guangxi Zhuang Autonomous
Region People's Government and the National Forestry
and Grassland Administration of China. Guangxi will
accelerate the development of green forestry industry and
take steps to expand ecological and environmental
protection, production of high-end furniture and home
furnishing, forest pulp and paper integration, forest
biomedicines.
Jiangsu Changshu wood product exports
Changshu City is located in the economic development
region of Yangtze River Delta in the south of Jiangsu
Province. The local enterprises exporting bamboo, wood
and grass products are mainly small-scale private
enterprises.
Among the many products sofas are the mainstay of
the
international trade. In order to promote the healthy
development of bamboo, wood and grass product exports
from Changshu region Changshu Customs promotes a
classification of wood product export enterprises matching
export support with the production management capacity.
Between January and August 2022 Changshou region
exported US$145 million of bamboo, wood and grass
products sold to more than 50 countries and regions.
See:
http://nanjing.customs.gov.cn/nanjing_customs/589276/589277/4596527/index.html
GGSC-CN Index Report (September 2022)
In September 2022 sporadic covd outbreaks and
subsequent lockdowns disrupted many industrial sectors
and private consumption. Multiple difficulties persist and
have been prolonged. China's macroeconomic growth is
still under great pressure.
This month China's PMI index registered 50.1%, a slight
increase from the previous month, The PMI was above the
critical value of 50% after two months indicating an
improvement in the economy. Overall, production in the
timber processing manufacturing industry increased,
orders and production are better than in the previous
month but export orders have decreased.
The GGSC-CN comprehensive index for September
registered 49.7% (48.2% for last September and 51.6% for
September 2020), a decline from the previous month and
below the critical value of 50%. It shows that the
operations of the forest products enterprises represented by
GGSC-CN index declined.
Challenges
Increasing costs
Declining quality of raw materials
Raw materials are out of stock
Need to find alternative sources
Products in short supply
Oak grade A, European oak grade AB, black walnut,
high-grade oak, high-grade oak, white birch.
Granules.
Commodity for which the price has increased
Hardware, metal, particleboard, urea, melamine,
paraffin, water repellent, glue. Merbau blanks, for the
floor parts, mpregnated wood grain paper.
Commodity of which the price has been decreased
Formaldehyde-free glue, core board, impregnated paper,
kraft paper, blank.
Panlongan, Diptera, Robinia locust, bean, oak, solid
rosewood, oak logs.
As for the GGSC-CN index, in September 2022 one subindex
of the GGSC-CN increased, one was flat and three
decreased.
The production index registered 50.0%, which was the
same as the previous month and remained at a critical
value. It shows that the production of enterprises
represented by GGSC CN is basically the same as the
previous month.
The new order index registered 54.1%, a decrease from the
previous month but, being above the critical value of 50%,
reflected the ability of enterprises to obtain orders is better
than the previous month. However among the new order
group the new export order index reflecting international
trade registered 39.47%, a bid decline from the previous
month.
The main raw material inventory index registered 45.8
showing that the raw material inventory of the forest
products enterprises has worsened from the previous
month.The employment index registered 45.8%, a drop
from the previous month. It shows that the employment of
the forest products enterprises is worse than the previous
month.
The supplier delivery time index was 47.9%, an increase
from the previous month. It indicates that the supply time
of raw material suppliers of the forest product enterprises
is still slow.
See:
http://www.itto-ggsc.org/site/article_detail/id/273
|
