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The 2021 Dongying Online Cloud Expo for Export Goods (Tires and Auto Parts Special Session) was successfully held

To effectively address the adverse impact of the COVID-19 epidemic on enterprises participating in overseas exhibitions and to help foreign trade enterprises explore the international market online, Dongying Municipal Bureau of Commerce held the "2021 Dongying Export Goods Online Cloud Exhibition (Tires and Auto Parts Special Session)" on March 31. This cloud exhibition was the first online cloud exhibition held in Dongying in 2021. It was hosted by Shandong Zhenghe International Exhibition Co., Ltd., and received strong support from the Bangladesh-China Chamber of Commerce and Industry and the Shandong Chamber of Commerce in the UAE. Guest Speech Guo Xinfeng, Deputy Director of Dongying Municipal Bureau of Commerce, attended the event and delivered a speech. In his speech, Deputy Director Guo Xinfeng stated that the COVID-19 epidemic is still ongoing, and international trade and personnel exchanges are still very inconvenient. Under this difficult situation, the Dongying Municipal Bureau of Commerce is helping Chinese and foreign enterprises to "join hands" online by holding online cloud exhibitions. Ma Meng Murideha, Joint Secretary-General of the Bangladesh-China Chamber of Commerce and Industry, attended the opening ceremony and delivered a speech. Secretary-General Ma Meng Murideha stated that Bangladesh is an important country in South Asia, the eighth most populous country in the world, and a vibrant developing country. Dongying's strong heavy industrial manufacturing capacity and excellent heavy industrial "intelligent manufacturing" level are precisely what Bangladesh needs to focus on developing, and he looks forward to more exchanges and cooperation between the governments and enterprises of both sides. Industry Promotion Cai Yinsong, a second-level researcher at the Municipal Bureau of Commerce, gave an overall introduction to Dongying's tire and auto parts industry, comprehensively introducing the industrial advantages of Dongying's tires and auto parts from the perspectives of industrial scale, industrial system, quality brands, and technological level. Business Negotiation This cloud exhibition attracted the participation of 24 foreign trade enterprises from Dongying and 23 international buyers. Overseas buyers came from countries such as the UAE, Nigeria, Pakistan, and Bangladesh. The exhibited products included various types of rubber tires, wheels, brake pads, brake discs, exhaust pipes, engine parts, etc. A total of 75 one-on-one negotiations were arranged through pre-matching. Since 2020, in order to actively respond to the impact of the COVID-19 epidemic on international trade and personnel exchanges, Zhenghe Exhibition has integrated its accumulated domestic and international resources and explored online docking models. It has successively organized and hosted more than 30 cloud exhibitions and cloud docking activities, achieving positive results. Many companies have received foreign orders through online docking.

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04-05

The 2021 Dongying Online Cloud Expo for Export Goods (Tires and Auto Parts Special Session) was successfully held

Economic and Trade News

United States: White House is planning a $3 trillion economic stimulus package According to multiple US media reports on March 22, White House officials are planning a $3 trillion economic stimulus package. The first part of the plan will provide funding for promoting manufacturing, addressing climate change, building broadband and 5G networks, and upgrading transportation infrastructure. (Source: Xinhua) Brazil: Import tariffs on information and communication products will be reduced to zero Recently, the Foreign Trade Commission (CAMEX) of the Brazilian Ministry of Economy issued Decisions No. 171 and 172, reducing import tariffs on some capital goods and information and communication products to zero. (Source: Economic and Commercial Office of the Chinese Embassy in Brazil) Vietnam: Goods imported and exported under international treaties will be tax-exempt According to VNA on March 22, the Vietnamese government recently promulgated Decree No. 18, adding Article 29a on exemption of taxes on goods imported and exported under international treaties, namely, goods imported and exported under international treaties to which Vietnam is a signatory will be exempt from import and export taxes. (Source: VNA) Myanmar: Jade exports have almost come to a standstill According to the Myanmar Global New Light of Myanmar on March 22, data from the Myanmar Ministry of Commerce shows that as of mid-March this fiscal year, Myanmar's mineral exports amounted to US$496 million, down US$555 million year-on-year. Affected by the epidemic, Myanmar's jade and jewelry trade fair has been suspended for more than a year, and Myanmar's jade exports have almost come to a standstill. (Source: CCTV News Client) South Korea: Energy companies will form an alliance to address carbon neutrality According to Yonhap News Agency on March 23, industry insiders said that more than 10 leading South Korean energy companies, including SK E&S, GS Energy, POSCO Energy, E1, and Doosan Heavy Industries, will establish an "Energy Alliance" in April to address carbon neutrality policies. (Source: Yonhap News Agency) Sri Lanka: 5G spectrum auction to begin at the end of the year According to the Sri Lankan Daily News recently, the head of the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) said that Sri Lanka will begin the 5G spectrum auction at the end of this year. (Source: Economic and Commercial Office of the Chinese Embassy in Sri Lanka) China has completed the ratification of RCEP On March 22, a person in charge of the Department of International Trade and Economic Affairs of the Ministry of Commerce stated that China has completed the ratification of the Regional Comprehensive Economic Partnership (RCEP) and became the first country to ratify the agreement. In addition, Thailand has also approved the agreement. (Source: Economic Daily) Tax and fee preferential policies for epidemic prevention will be extended to December 31 On March 23, the Ministry of Finance and the State Taxation Administration jointly issued an announcement on the continued implementation of tax and fee preferential policies in response to the epidemic. The tax preferential policies stipulated in the Announcement of the Ministry of Finance and the State Taxation Administration on Supporting the Resumption of Work and Production of Individual Industrial and Commercial Households and Value-Added Tax Policies will be extended to December 31, 2021. (Source: Ministry of Finance website) E-cigarette industry faces regulation On March 22, the Ministry of Industry and Information Technology publicly solicited opinions on the "Decision on Amending the Implementation Regulations of the People's Republic of China Tobacco Monopoly Law (Draft for Comments)". The draft proposes that new tobacco products such as e-cigarettes shall be implemented in accordance with the relevant provisions on cigarettes in the Regulations. (Source: MIIT website) Xiong'an New Area encourages enterprises to innovate and develop Recently, the Xiong'an New Area Administrative Committee of Hebei Province issued the "Several Measures of Hebei Xiong'an New Area on Supporting Enterprises' Innovative Development", which stipulates the scope of application, support content, subsidies and reward standards for enterprises' innovative development. (Source: People's Daily) Hubei Yichang Comprehensive Bonded Zone officially opens On March 22, the Yichang Comprehensive Bonded Zone officially opened, becoming the fourth comprehensive bonded zone in Hubei Province and filling the gap of the lack of customs special supervision areas in the Yichang section of the Hubei Pilot Free Trade Zone. (Source: Hubei Daily) A4 copy paper: Australia makes anti-circumvention final ruling Recently, the Australian Anti-Dumping Commission issued an announcement stating that from April 28, 2020 (inclusive), the scope of imported products from China, namely A4 copy paper weighing 70g/m² to 100g/m², will be expanded to 67g/m² to 100g/m². (Source: China Trade Remedy Information Network) Indonesia: Sorong Special Economic Zone in Papua Located in Sorong Regency, West Papua Province, Indonesia, the special economic zone covers investment and business development in nickel processing, fishery processing, palm oil processing, and timber processing. The special economic zone is now open to Chinese enterprises for investment promotion. (Source: China Trade and Investment Network)

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03-25

Economic and Trade News

Why is the Consumer Goods Expo still being held?

The first China International Consumer Products Expo (hereinafter referred to as the Consumer Expo) will be held in Haikou, Hainan Province from May 7 to 10. The Expo is co-hosted by the Ministry of Commerce and the Hainan Provincial People's Government. This was learned from a press conference held by the State Council Information Office today. At the meeting, Wang Bingnan, Vice Minister of Commerce, said that China's hosting of such exhibitions as the Consumer Expo will make it a platform for international exchange and cooperation, a window for opening up, and will play a comprehensive role in large-scale exhibitions, promoting high-level opening up, smoothing domestic circulation, promoting domestic and international dual circulation, and building a new development pattern. Against the backdrop of the existing three major platforms for opening up, namely the Canton Fair, the CIIE, and the CIFTIS, why is another Consumer Expo being held? "The Canton Fair mainly focuses on goods exports, the CIIE mainly focuses on the import of goods and some services, and the CIFTIS mainly focuses on expanding opening up in the service sector, while the Consumer Expo is positioned as a global platform for the display and trading of international consumer goods," Wang Bingnan said. The exhibition industry is an important support and leading industry of the national economy, and an important platform for promoting higher-level opening up and high-quality economic development. According to the introduction, the Ministry of Commerce will focus on building an exhibition pattern that adapts to regional coordinated development, accelerate the construction of an exhibition industry system with reasonable layout, distinct characteristics, clear levels, and strong international competitiveness, expand and strengthen several national-level comprehensive exhibitions, create a number of large-scale mechanism-based multilateral and bilateral trade exhibition platforms, and support various places in cultivating a number of high-quality regional exhibition platforms. Holding the Consumer Expo is also inseparable from promoting the construction of the Hainan Free Trade Port. The "Overall Plan for the Construction of Hainan Free Trade Port" issued earlier clearly defined the positioning of Hainan International Tourism Consumption Center. Wang Bingnan said that holding the Consumer Expo is a practical action to implement the central government's decisions and deployments and to build the Hainan International Tourism Consumption Center, and it is also an important measure to promote the construction of the Hainan Free Trade Port. It will help to accelerate the innovative development of services in the free trade port and create a new highland for opening up. "The Consumer Expo is not just Hainan's Consumer Expo, but also a national and global Consumer Expo." Shen Danyang, Executive Vice Governor of Hainan Province, introduced that the first Consumer Expo focuses on "high, new, excellent, and special" consumer goods, striving to achieve a leading domestic level in terms of internationalization, unit area product value, and the number of first releases and exhibitions, and to build it into an important platform for the display and trading of global consumer goods. It will provide opportunities for the display and trading of consumer goods from various countries to enter the Chinese market, and also create business opportunities for consumer goods from various parts of China and other countries to be sold to the world. In addition, holding the Consumer Expo is also to better meet the needs of people's lives. Last year, China's per capita GDP exceeded US$10,000, and has entered an important stage of consumption upgrading, but the capacity for high-quality supply still cannot better meet the people's growing needs for a better life. Wang Bingnan said that holding the Consumer Expo is to adhere to the main line of supply-side structural reform, adhere to the theme of high-quality development, attract domestic and international consumer goods, integrate the preferential policies of the free trade port, expand effective and high-end supply, and better meet the people's needs for a better life. Consumers will receive many tangible benefits at the Consumer Expo. Han Shengjian, director of the Hainan International Economic Development Bureau, introduced that the Consumer Expo is divided into international and domestic zones. The international exhibition area is divided into five professional exhibition areas: fashion life, diamonds and jewelry, high-end food and health products, travel and living, and comprehensive services. Currently, it has gathered 1165 international brands. In the domestic exhibition area, various places across the country are organizing consumer goods and time-honored brands to participate in the exhibition. So far, the number of brands that have registered to participate in the exhibition has exceeded 1000. At that time, consumers will be able to buy a wide variety of goods in the exhibition hall, including the latest jewelry, brand watches, consumer electronics, food and health products, and time-honored brands. In addition to being able to buy a wide variety of goods, relevant national departments are formulating tax-free policies for the exhibits of the Consumer Expo. A certain quantity and amount of overseas exhibits can enjoy tax-free import and sales during the exhibition period. "The tax-free policy of the Consumer Expo is different from the Hainan offshore duty-free policy, and it does not occupy the 100,000 yuan quota for offshore duty-free," Han Shengjian explained. Visitors from outside the island can not only buy domestic goods and tax-free foreign exhibits at the exhibition venue, but also buy products with a quota of 100,000 yuan at duty-free shops in Haikou and Sanya. At that time, various duty-free shops will launch a variety of discount promotions, which is a very good shopping opportunity. Source | International Business Daily Editor | Wang Junjie

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03-25

Why is the Consumer Goods Expo still being held?

The Japanese Embassy has announced the resumption of processing for 7 types of long-term visas and 3 types of short-term visas.

With the complete lifting of Japan's state of emergency declaration, some changes have occurred in the detailed visa application rules at the Japanese Embassy, and several new types of visas are now open for application. Many friends have been asking about visa issues, so today I've compiled a detailed introduction for everyone! Starting from March 22, the Japanese Embassy can accept the following applications for visas to Japan. Relevant personnel can submit visa application documents, and if there are no issues after embassy processing, visas will be issued. Status of Residence Category (Long-term Visa) 1. Spouses and children of Japanese nationals 2. Spouses and children of permanent residents 3. Spouses and children of long-term residents (Notice No. 5 and Notice No. 6) 4. Holders of Certificate of Eligibility (CoE) with 1584 (red annotation in the upper right corner of the CoE) 5. Status of Residence for Education and Professor (requires submission of the original urgent entry explanation from the accepting institution in Japan) 6. Status of Residence for Medical (requires submission of the original urgent entry explanation from the accepting institution in Japan) 7. Permanent residents changing to long-term resident visas Family Visit Category (Short-term Visa) 1. Spouses and children of Japanese nationals 2. Spouses and children of permanent residents 3. Spouses and children of long-term residents After Japan announced the lifting of the "state of emergency," measures prohibiting new entry for foreign nationals continue to be extended. Long-term visas such as for study abroad, and short-term visas such as for business, are still not available! Specific details are as follows: 1. Suspension of phased measures for international travel ("B Lane" and "R Lane") 2. Suspension of new entry from all countries and regions 3. Suspension of special measures for returning or re-entering Japan from all countries and regions for short-term business trips Additionally, consultations for visa applications for personnel related to the Tokyo Olympic and Paralympic Games, athletes, artists, government-sponsored international students, JICA international students, and JET Program participants have begun. Required Documents for Visa Application The required documents for visa application vary depending on the type of status of residence. Additional supplementary documents may be requested based on the needs of the visa review. 1. Documents required for all applicants (1) Visa application form (attach photo, white background, 4.5cm×4.5cm) (2) Passport (3) Copy of household registration booklet (first page and applicant's page) (4) Residence permit or other proof of residence (only for applicants whose household registration is not within the jurisdiction of this consulate) (5) Original and copy of Certificate of Eligibility 2. In addition to the above documents, the following documents are required based on the type of status of residence The above are the types of visas currently open for processing at the Japanese Embassy. With the opening of entry for government-sponsored international students, it is believed that private international students will not be far from entering Japan.

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03-25

The Japanese Embassy has announced the resumption of processing for 7 types of long-term visas and 3 types of short-term visas.

India's economy shows early signs of recovery

Data recently released by India's Central Statistics Office shows that India's GDP grew by 0.4% in the third quarter of fiscal year 2020/2021, marking the first positive growth since the outbreak of the COVID-19 pandemic. India's Finance Minister Nirmala Sitharaman attributed this achievement to the effective fiscal measures taken by the government in the previous fiscal year. The 0.4% growth rate signals a positive trend in the Indian economy. Recently, major institutions have become increasingly optimistic about India's economic development in the new fiscal year. According to a recent report released by the Organisation for Economic Co-operation and Development (OECD), India's GDP is expected to grow by 12.6% in fiscal year 2021/2022, attributing this to strong fiscal measures and the recovery of domestic manufacturing and construction industries. Indian credit rating agency CRISIL also points out that the rollout of COVID-19 vaccines has significantly improved the domestic economic environment, and coupled with government spending stimulus, India's GDP growth is expected to rebound to around 11% this fiscal year. However, while CRISIL offers a positive outlook for India's future economic development, it also acknowledges that India's economic recovery is far from easy. CRISIL believes that the impact of the epidemic on small businesses and urban poor in India is far from over, and the recovery still faces considerable difficulties. The recovery of urban economies is slower than that of rural areas, and the recovery of the service sector lags behind that of manufacturing, showing an unbalanced pattern of development. A recent report by Moody's suggests that for a country's post-epidemic recovery, in the short term, GDP data depends on how the country controls the epidemic through COVID-19 vaccination programs and other measures; in the long term, the economic development trend depends on how many jobs the country lost during the epidemic. However, unemployment has been a persistent problem hindering India's economic recovery. If not addressed, the recovery process will inevitably be hampered. According to the latest data from the Centre for Monitoring Indian Economy (CMIE), India's unemployment rate was 6.9% in February 2021, although lower than 7.8% in February 2020, the labor participation rate and employment rate remain low, reflecting a serious outflow of labor in India's labor market, and the national employment situation remains grim. Unemployment directly impacts people's income, which will weaken the driving force of consumption on economic growth. For the Indian government, the key to promoting economic growth lies in better utilizing epidemic prevention measures and fiscal policies to quickly overcome the negative impact of the epidemic on economic development; and promoting reforms to address structural problems that have long plagued the country's socio-economic development. Overall, the dawn of India's economic recovery is already appearing, but it still requires effort to completely overcome the difficulties.

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03-25

India's economy shows early signs of recovery
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