June 22 Trade Risk Alert
Release time:
2020-06-22 17:55
Source:
The European Central Bank issued its June monetary policy statement.The European Central Bank recently held a monetary policy meeting in June and announced the latest policy resolution. The central bank decided to increase the 6000 of the outbreak emergency asset purchase program (PEPP).billion euros, totaling 1.35 trillion billion euros, and will extend the period until at least the end of June 2021 until the end of the outbreak crisis. The asset purchase program (APP) will continue at the rate of € 20 billion per month, with an additional temporary credit of € 120 billion before the end of the year. At the same time, the main refinancing rate of 0 per cent, the overnight lending rate of 0.25 per cent and the overnight deposit rate of -0.5 per cent remain unchanged. The ECB said it remains ready to adjust all policy tools at any time to ensure that inflation rates converge towards policy targets in a symmetrical manner and in a sustainable manner. (Ministry of Commerce website)
The EU seeks tighter scrutiny of foreign companies that acquire EU firms.Reuters news on June 9, European Commission Executive Vice President Vestag said on the same day that companies seeking to acquire EU companies will be subject to stricter scrutiny to determine whether they benefit from unfair government subsidies and other assistance. In addition, those already in the EU 27Companies that do business in the country but are suspected of having government support may also be investigated. (Ministry of Commerce website)
Britain and Japan open free trade negotiations.On June 9, the United Kingdom and Japan officially opened negotiations on a free trade agreement. The two sides hope to establish a deeper partnership than the EU and Japan. After Brexit, Japan refused to extend its free trade agreement with the EU to the UK, which means that unless Britain reaches a new free trade agreement with Japan before the end of the Brexit transition period, the two countries will trade in accordance with WTO rules from next year. Both sides expressed the hope that a new FTA could be concluded by the end of the year. Negotiations between the two sides will be 6The working group consists of 23 chapters and annexes, with about 100 British negotiators participating. (Ministry of Commerce website)
Latin American companies will see a surge in debt defaults due to the new crown epidemic.6On March 18, Ecuador's Express reported that Moody's, an international credit rating agency, predicted that by the end of 2020, corporate debt defaults in Latin America would increase by at least 3 percent from last year due to the new crown crisis.Times. Moody's Vice President Surita said that the Latin American economy will shrink severely due to the new crown epidemic, and the default rate of companies in the region will soar. By the end of this year, the region's financial and non-financial corporate default rate is expected to rise to 6.8-10.2 per cent, well above the 2.2 per cent level in May this year. Countries such as Argentina, Brazil and Mexico have relatively more defaults due to the large scale of corporate debt issuance, and corporate debt defaults in Chile, Colombia and Panama are also expected to increase. (Ministry of Commerce website)
Chile expands economic bailout program.Chile has announced an economic rescue plan that will invest $12 billion million over the next two years to strengthenSocietySafeguarding and recoveryEmploymentand economic activity in response to the pressure on the economy caused by the new coronary pneumonia epidemic. Chilean President Pinera said that the funds will be used to further increase the subsidy standard of the family emergency income plan and increaseUnemploymentGrant levels and expand their beneficiary populations, increasing the level of support for local governments andsocial organizationappropriation, establishment of specialFundto cover additional public health expenditures, etc. (People's Daily)
Interactive Message
If you are interested in our products, please leave your email and we will contact you as soon as possible. Thank you very much.
Other dynamics
The company was founded in 1997, currently 4000 a variety of models of automobile brake discs. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting. The company's process equipment strength, Japan's new east automatic casting line 6, commercial vehicle brake disc automatic casting line 2. There are 56 processing lines -6 full-automatic one-word processing lines and 30 robot processing lines. Packaging cleaning line 5, spraying line 3.
Since the beginning of this year, the price of raw materials has risen sharply, sea freight has soared, and the difficulty of finding a box of shipping space has seriously plagued manufacturing companies. The current power curtailment has made companies even worse. Take our company as an example. Since the power limit in early September, the company's production capacity has dropped by about 50% on average every day. Exports have decreased by 0.02 billion yuan. The performance rate of orders in hand is about 50%. New orders were reduced by 10%. These data are the impact of the current power rationing on enterprises. If the power rationing situation is not alleviated, the impact on enterprises in the fourth quarter will be more serious.
Recently, Yunnan, Jiangsu, Qinghai, Ningxia, Guangxi, Guangdong, Sichuan, Henan, Chongqing, Inner Mongolia, Henan and other places have begun to carry out energy control measures to limit energy consumption.
The total power generation in 021 is not low. In the first half of the year, China's total power generation was 3871.7 billion kWh, twice that of the United States. At the same time, China's foreign trade has grown extremely fast this year. According to data recently released by the General Administration of Customs, in August, the total value of my country's foreign trade imports and exports was 3.43 trillion billion yuan, a year-on-year increase of 18.9 percent, achieving positive year-on-year growth for 15 consecutive months, further showing a steady and solid trend. In the first eight months, the total value of China's foreign trade imports and exports was 24.78 trillion billion yuan, up 23.7 percent year-on-year and 22.8 percent over the same period in 2019.
The impact of the neo-coronary pneumonia epidemic on global supply chains continues, with high international freight rates, container shortages and terminal congestion still unabated, and labor shortages exacerbating the dilemma. The outbreak of the new coronary pneumonia epidemic in 2020, due to the obstruction of international freight, soaring transportation costs, international trade in goods greatly hindered, triggering a supply chain crisis in many countries (regions), since 2021, the new coronary pneumonia virus variant strain raging, so that the supply chain has not yet fully recovered.
Statistics from the China Association of Automobile Manufacturers show that in the first seven months of 2021, China's cumulative automobile exports reached 1.002 million, an increase of 1.2 times year-on-year, but the month-on-month growth was only 9.8 percent, showing a shrinking trend. Moreover, commercial vehicle exports fell 11.6 percent month-on-month, of which new energy commercial vehicle exports fell 57.8 percent month-on-month. It is said that the main reason for the decline in automobile exports is the poor shipping channels.
Product recommend
At present, 4000 a variety of models of automobile brake discs, brake drums with an annual output of 10 million pieces. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting.
At present, 4000 a variety of models of automobile brake discs. Products are mainly exported to Europe, North America, South America, Australia and other countries and regions. At present to SAIC, JAC, BYD, Jinlong, Yutong and other domestic models to provide supporting.
Address: Zhuqiao Town, Laizhou City, Shandong Province
Mobile phone official website