China’s imports and exports of goods rose 5.7% in the first four months of the year
China’s imports and exports of goods totaled 13.81 trillion yuan in the first four months of this year, up 5.7% year on year, according to statistics from China Customs Tuesday. Of this total, the export was 7.81 trillion yuan, up by 4.9%; Imports reached 6 trillion yuan, an increase of 6.8%. In April, imports and exports reached 3.64 trillion yuan, up 8%. Of this total, the export was 2.08 trillion yuan, up by 5.1%; Imports reached 1.56 trillion yuan, an increase of 12.2%
Sweden’s central bank cut interest rates by 25 basis points
On May 8th Sweden’s central bank announced that it would cut its benchmark interest rate by 25 basis points to 3.75% from the 15th of this month because of the weak economy. It was the Riksbank’s first rate cut in eight years. The Riksbank said inflation was approaching its target and economic activity was weak, so the central bank could ease monetary policy.
On May 9, the offshore RMB depreciated against the dollar, appreciated against the euro and was unchanged against the yen
Offshore RMB exchange rate slightly depreciated against the US dollar, as of press time, offshore RMB exchange rate against the US dollar was 7.2297, compared with the previous trading close of 7.2279, depreciated 18 basis points.
Offshore RMB exchange rate against the euro slightly appreciated, as of press time, offshore RMB exchange rate against the euro at 7.7652, compared with the last trading day’s close of 7.7654, appreciation of 2 basis points.
Offshore RMB was unchanged against 100 yen, as of press time, offshore RMB was trading at 4.6400 yen, unchanged from the previous close of 4.6400 yen.
On May 9, the onshore RMB depreciated against the dollar and appreciated against the euro and yen
The The onshore RMB exchange rate weakened slightly against the US dollar, as of press time, the onshore RMB exchange rate against the US dollar was 7.2259, compared with the last trading day’s close of 7.2236, weakening 23 basis points.
The onshore RMB exchange rate strengthened slightly against the euro, as of press time, the onshore RMB exchange rate against the euro was 7.7546, compared with the last trading day’s close of 7.7618, appreciating 72 basis points.
The onshore RMB strengthened slightly against the 100 yen exchange rate, as of press time, the onshore RMB against the 100 yen exchange rate of 4.6300, from the previous trading price of 4.6400, up 100 basis points.
On May 9, the central parity rate of RMB depreciated against the US dollar and appreciated against the euro and yen
The RMB slightly depreciated against the US dollar, with the central parity rate of the RMB against the US dollar at 7.1028, down 12 basis points from 7.1016 in the previous trading day.
The exchange rate of RMB against the euro appreciated slightly, with the central parity rate of RMB against the euro at 7.6639, up 20 basis points from 7.6659 on the previous trading day.
The RMB appreciated sharply against the 100 yen exchange rate, and the central parity rate of the RMB against the 100 yen exchange rate was 4.5539, which was 206 basis points higher than the previous trading day’s 4.6145.
Australian retail sales fell 0.4% from the previous month
Australian retail sales fell 0.4% in March from the previous month, according to government data, and are expected to increase 0.2%. The results followed a downwardly revised 0.2% increase in February. The Australian dollar fell as much as 0.4%, while policy-sensitive three-year Treasury yields extended their decline.
Italy launches one-stop service platform for foreign investment
Italian Enterprise and the “Made in Italy” Ministry has launched the “Invest in Italy” portal, a one-stop service platform for foreign investment in the country. Since its launch in 2022, the platform has served 378 foreign potential investment projects, the ministry said. Of these, 64 projects have been successfully implemented, with an investment of 2.39 billion euros..
The president of Colombia has announced that he will sever relations with Israel
Colombian President Pedro Petro announced in the capital Bogota that Colombia will break off all diplomatic relations with Israel on the 2nd. Petro said he cut ties with Israel because its leaders “engage in genocide.” “We cannot go back to the time of genocide, the extermination of an entire people,” he stressed.
Europe’s cross-border e-commerce market revenue grew 32% year-on-year
According to the sixth edition of the “TOP 500 Cross-border B2C Retail in Europe” annual ranking published by Cross-border Business Europe, in 2023, the European cross-border e-commerce market revenue reached 237 billion euros, an increase of 32%. Among them, cross-border transactions in European online stores reached 107 billion euros. This compares to 2022, when the total value of the cross-border e-commerce market was 179 billion euros, and the cross-border transaction volume of online stores was 105.5 billion euros, a record high.
Shopify’s first-quarter revenue rose 23% from a year earlier
On May 8, Canadian e-commerce platform Shopify released its financial results for the first quarter of 2024 ended March 31: revenue was $1.9 billion, an increase of 23% year-on-year. The net loss was $273 million, compared with a net profit of $68 million a year earlier. Shopify expects second-quarter revenue to grow by a few dozen percentage points (close to 20%) year over year.
Asian container shipments to US rise for seventh straight time
According to the data released by the United States Descartes – Datamine company, the volume of maritime container transport from Asia to the United States in March was 1,455,586 (calculated by 20-foot containers), an increase of 20% over the same period last year, for seven consecutive months of growth. The top ten products all shipped more than the same period last year. Steel products increased by 43% and plastics by 41%.
Cma CGM announced the launch of China to Mexico Ocean Express
CMA CGM announced on its website that it will launch a new route service connecting China to Mexico – M2X (Mexico Express), which will be specifically designed to simplify transportation from the Far East to the west coast of Mexico. The M2X will have a fleet of eight dedicated vessels providing regular weekly services, with the first vessel “ANL WANGARATTA” scheduled to depart from Busan on May 11.
Sales of new energy vehicles in South Korea rose 8.7% year-on-year
According to the latest data from the South Korean automotive industry, in the first quarter of 2024, the sales of domestic new energy vehicles in South Korea exceeded 100,000 units for the first time in the domestic market. Data show that the five major domestic automakers – Hyundai Motor, Kia, GM Korea, KGM and Renault Korea – increased their domestic sales of new energy vehicles by 8.7% year-on-year in the first quarter of this year to 101,727 units.
Adidas’ first-quarter revenue rose 8% from a year earlier
Recently, Adidas released the first quarter of 2024 financial results. Data show that in the first quarter of this year, Adidas achieved global revenue of 5.458 billion euros, an increase of 8% over the same period last year under currency neutrality; Operating profit was 336 million euros, gross margin increased 6.4 percentage points to 51.2%, and the performance exceeded expectations across the board.
The moon maglev train is coming
Recently, NASA is working on a project called Flexible Magnetic Levitation (FLOAT) with the goal of providing autonomous, reliable and efficient transportation to the moon. All the resources needed to develop the moon cannot be brought from the Earth. The project aims to transport the developed lunar resources to a lunar base. The maglev track is made of a flexible graphite layer, powered by solar panels without the need for external power.
