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Sharing of new foreign trade regulations in July

07-16

01 New export controls on items from China, effective July 1

On May 30, 2024, three major Chinese departments—the Ministry of Commerce, the General Administration of Customs, and the Equipment Development Department of the Central Military Commission—jointly announced the implementation of export controls on four categories of items and technologies related to aerospace and special organic materials, effective July 1, 2024. Items meeting the following characteristics may not be exported without permission:

(1) Equipment, software, and technology related to the manufacture of aerospace structural components and engines.

(2) Equipment, software, and technology related to the manufacture of gas turbine engines/gas turbines.

(3) Equipment, software, and technology related to aerospace suit faceplates.

(4) Items related to ultra-high molecular weight polyethylene fibers.

02 EU plans to impose provisional anti-subsidy duties on imported Chinese electric vehicles

It is proposed to impose provisional anti-subsidy duties ranging from 17.4% to 38.1% on electric vehicles imported from China, starting from July 4. Specifically, BYD, Geely Automobile, and SAIC Group will be subject to additional tariffs of 17.4%, 20%, and 38.1%, respectively; other manufacturers will be subject to a 21% tariff; and Tesla vehicles imported from China may be subject to a separate rate.

03 46 substances prohibited from import and export starting July 1

On June 16, the Ministry of Public Security, the National Health Commission, and the National Medical Products Administration jointly issued an "Announcement on Including 46 Substances Including Bromopheniramine in the Supplementary Catalog of Controlled Non-Medicinal Narcotics and Psychotropic Substances."

Starting July 1, 2024, 46 substances, including bromopheniramine, will be included in the "Supplementary Catalog of Controlled Non-Medicinal Narcotics and Psychotropic Substances." Article 4 clearly stipulates that the production, sale, transportation, use, storage, and import and export of controlled non-medicinal narcotics and psychotropic substances are prohibited for any unit or individual.

04 China-Serbia Free Trade Agreement to come into effect on July 1

On May 8, during his visit to Serbia, Chinese President Xi Jinping announced that the China-Serbia Free Trade Agreement will officially come into effect on July 1 this year, and unveiled six measures to support the construction of a new era China-Serbia community of shared future, including supporting Serbia in hosting the World Expo, expanding imports and exports, supporting scientific research exchanges, and inviting young people to study. In addition, Chinese Minister of Commerce Wang Wentao and Serbian Minister of Trade, Tourism and Telecommunications Tomislav Momirović jointly signed the "Memorandum of Understanding on E-commerce Cooperation between the Ministry of Commerce of the People's Republic of China and the Ministry of Trade, Tourism and Telecommunications of the Republic of Serbia" in Belgrade. As of May 1, China has established bilateral e-commerce cooperation mechanisms with 31 countries, including Serbia.

05 Turkey to impose a 40% additional import tariff on some vehicle imports

On June 8, Turkey's Presidential Decree No. 8639 stipulated that a 40% additional import tariff will be imposed on fuel and hybrid passenger cars originating from China and falling under customs code 8703, and will be implemented 30 days after its release. According to the announcement, the minimum tariff per vehicle is US$7,000 (approximately RMB 50,000). Therefore, all passenger cars exported from China to Turkey are now subject to the additional tariff.

06 EU to impose additional tariffs on Chinese titanium dioxide

On June 13, the European Commission's website released the latest progress of the anti-dumping investigation launched last year against Chinese titanium dioxide enterprises. Lonbay Group (002601) and its subsidiaries will be subject to a 39.7% tariff, CNNC Titanium Dioxide (002145)'s wholly-owned subsidiary Jinxing Titanium Industry will be subject to a 14.4% tariff, and 23 cooperating companies including Annanda (002136), Huiyun Titanium Industry (300891), and Nanjing Titanium Dioxide will be subject to a 35% tariff, while other companies will be subject to a 39.7% tariff.

What are the rigid import demands in the African market?

Cross-border capital flows are trending towards equilibrium

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Zhenghe Exhibition visited Nigerian automotive technology and other industry associations to promote cooperation on the 2025 Nigeria (Lagos) China Goods Expo.

From January 3rd to 6th, 2025, representatives of Zhenghe Exhibition's overseas staff successively visited the secretariat of the Nigerian Automotive Technicians Association (NATA), the Amalgamated Union of Automobile Motor Mechanics and Technicians of Nigeria (AUOMMATON), and the Motor Mechanics and Technicians Association of Nigeria (MOMTAN). This visit primarily focused on in-depth discussions and exchanges regarding cooperation for the 2025 Nigeria (Lagos) China Commodities Fair. During the meetings, representatives of Zhenghe Exhibition's overseas staff introduced the basic situation of the Nigeria (Lagos) China Commodities Fair to the heads of the business associations. The heads of the various business associations acknowledged the significant achievements made by the exhibition in recent years. During the discussions, the three industry association leaders provided detailed information about their respective associations. As leaders and promoters of associations related to the automotive industry in Nigeria, these three associations have a wide influence in Nigeria and even West Africa. Against the backdrop of continuously deepening and upgrading China-Africa cooperation, they expressed high expectations for actively promoting trade cooperation between Nigeria and China in the automotive industry. The heads of the associations also stated their willingness to work with Zhenghe International Exhibition to jointly promote the continuous development of the Nigeria (Lagos) China Commodities Fair, uniformly organize member units to participate in the exhibition, and conduct one-on-one matchmaking discussions with Chinese exhibitors. As Africa's second-largest economy and most populous country, Nigeria has a huge demand for automotive and auto parts products, largely relying on imports. In Nigeria, over 90% of Nigerians tend to choose 'tokunbo' (used cars), which makes the 'tokunbo' distribution business very profitable in Nigeria. With the Nigerian government relaxing age restrictions on imported used cars, the volume of used car imports will further increase. Consequently, the auto parts market, both upstream and downstream of Nigeria's used car industry chain, will also see more opportunities. After years of operation by Chinese automakers, Chinese cars have established considerable 'prestige' in Nigeria. At the same time, the scarcity of local car repair outlets and the high cost of spare parts in Nigeria also indicate immense potential for Chinese auto parts exports to the Nigerian market.

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Deep cultivation of fertile soil ensures abundant blossoms - The 2025 Nigeria Lagos China Commodities Fair embarks on a new journey!

Nigeria is an important trade partner and investment destination for China in Africa, and also China's largest contracted project market in Africa. In 2023, the new contract value for Chinese enterprises' contracted engineering business in Nigeria reached 10.45 billion USD, with a turnover of 3.98 billion USD. On September 3, 2024, China and Nigeria issued a joint statement announcing the establishment of a comprehensive strategic partnership, promoting the building of a high-level China-Nigeria community with a shared future, and explicitly strengthening cooperation in areas such as infrastructure construction. Chinese Products are Hot-selling in the Nigerian Market under the Framework of China-Africa Cooperation According to data from the General Administration of Customs, from January to July 2024, China's imports and exports with Africa totaled 1.19 trillion CNY, a year-on-year increase of 5.5%. In 2023, China-Africa trade reached a historical peak of 282.1 billion USD, a year-on-year increase of 1.5%, demonstrating the strong resilience of China-Africa trade. Among them, trade between Nigeria and China is booming. In 2023, the total trade volume between China and Nigeria soared to an astonishing 281.777 billion USD, with China's exports to Nigeria reaching 172.469 billion USD, highlighting the immense appeal of Chinese products in the Nigerian market. The main hot-selling products fall into the following major categories: 1. Electromechanical Products and Agricultural Machinery Products From efficient power generation equipment to reliable electrical products, China's electromechanical products have continuously met Nigeria's growing needs and directly promoted the rapid development of its infrastructure construction. In addition, hardware tools, power tools, construction machinery, and other electromechanical products are also very popular. 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In terms of fabrics, wax prints with unique craftsmanship and patterns, and brightly colored African jacquard fabrics are popular; for finished garments, shirts and sportswear with Chinese cultural elements or designs that align with local aesthetic preferences are highly sought after; regarding accessories, exquisite embroidery and unique buttons could also be among the featured products. 3. Auto Parts Products Nigeria is considered Africa's largest potential automotive market. In Nigeria, over 90% of Nigerians prefer "tokunbo" (used cars), making the "tokunbo" distribution business very profitable in Nigeria. With the Nigerian government relaxing age restrictions on imported used cars, the volume of used car imports will further increase. Therefore, the auto parts market, both upstream and downstream of Nigeria's used car industry chain, will also see more opportunities. 4. Wigs and Hair Products Eight out of every 10 Nigerian women wear wigs. 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