China's car imports down 9 percent in 2023
At the end of 2023, the volume of imported cars in China decreased by 9% year-on-year to 799,000 units, according to the General Administration of Customs of the PRC.
The total volume of imported cars in value terms amounted to $47.05 billion. The total value of imported vehicles amounted to US$47.05 billion, down 11.6 percent from 2022.
The number of sedans, SUVs and vans imported into China in 2023 decreased year-on-year.
Meanwhile, in December last year, China's car imports rose 25.6 percent year-on-year to 80,000 units, and total imported cars reached US$4.31 billion in value, up 22.7 percent year-on-year. The total value of imported automobiles reached US$4.31 billion, up 22.7 percent year-on-year.
China's Tianjin port set a new record for container turnover through January 2024
The port of Tianjin in northern China handled more than 1.88 million twenty-foot equivalent containers /TEU/ in January 2024, up 8.8 percent year-on-year and setting a new record for monthly throughput, the port operator said.
The port's cargo throughput in the first month of this year was 41 million tons, up 2.6 percent compared with the same period in 2023.
Tianjin Port is a key shipping point in the Beijing-Tianjin-Hebei region. Since the beginning of this year, the port has continuously made new achievements in route opening, low-carbon development and smart terminal construction, capitalizing on its advantages.
For example, the port opened a direct express route for cherry imports from Chile, ensuring the supply of high-quality fruit to the northern regions of the country during the Spring Festival /Chunjie, the traditional Chinese New Year according to the lunar calendar/. In addition, China's first intelligent system for monitoring the state of the marine aquatic environment was put into operation in this port.
According to Tianjin Port, it currently has 145 container routes. It has trade links with more than 500 ports in over 180 countries and regions of the world.
ONE reports over US$80 million loss in October-December 2023
Singapore-headquartered Ocean Network Express (ONE) experienced a notable decline in its revenues, earnings, and profits in the third quarter of fiscal year 2023 (October - December), in contrast to the corresponding period in the previous year.
The quarter witnessed a softening of the supply and demand trend, resulting from sluggish consumption growth, reduced cargo movement during the low season, and an influx of new ships.
The company's loss reached US$83 million, a striking contrast to the US$2.77 billion profit reported in 2022. Additionally, ONE recorded a 46% decline in the quarter revenues to US$3.3 billion. Moreover, the company's Earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw a reduction to US$170 million, down from the US$3 billion reported in FY2022 same quarter. Furthermore, earnings before interest and taxes (EBIT) experienced a downturn, reaching minus US$248 million, compared to the US$2.73 billion recorded in 2022.
Xinjiang border crossing cargo volume sets new record in 2023
By the end of 2023, the volume of cargo traffic through border crossings in northwest China's Xinjiang Uygur Autonomous Region increased 8.6 percent year-on-year in 2022, setting a new historical high of 74.7 million tons, data from the district commerce department showed.
The department said the increase in the figure was driven by improving the efficiency of customs clearance. Priority was given to ensuring smooth transportation under China-Europe freight train services. The time of customs inspection of one railroad train last year was reduced from 70 to 35 minutes.
At the same time, the "green channel" for fast customs clearance of agricultural products covers all eight road border crossings on China's border with Kazakhstan, Tajikistan and Kyrgyzstan.
Li Xuan, deputy head of the district commerce department, said that in 2024, Xinjiang will continue to improve the functions of its checkpoints to enhance transportation efficiency, promote the construction of "smart border crossings" and deepen exchanges and cooperation with neighboring countries.
Sales of duty-free goods contribute to foreign trade in Sanya in southern China
The total volume of foreign trade turnover of the resort city of Sanya /prov. Hainan, South China/ soared to 24.23 billion yuan /about $3.4 billion/ in 2023, up 13.1 percent from 2022, with duty-free goods playing a vital role. U.S. dollars/, up 13.1 percent from 2022, with duty-free goods playing a vital role, the local customs office said on Sunday.
In 2023, imports of duty-free goods into Sanya city rose 25.5 percent to 10.76 billion yuan. They accounted for 44.4 percent of the city's total imports and exports.
Exports and imports of private enterprises rose 2.8 times, and those with foreign investment rose 2.1 times.
Last year, the EU, Switzerland and Japan became Sanya's three largest trading partners.
During the reporting period, cosmetics and toiletries were the main imported goods, with imports totaling 5.67 billion yuan in value, taking up 27.2 percent of the city's total imports for the whole of 2023.