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April 11, 2022 Economic and Trade Consulting

2022-04-11


1.    Global trade has fallen sharply due to the conflict between Russia and Ukraine
A few days ago, the Kiel Institute for Word Economics announced that global trade fell by 2.8% from February to March this year, as the conflict between Russia and Ukraine caused a sharp drop in container freight from the two countries. Among them, Russia’s imports in March fell by 9.7% year-on-year, while exports fell by 5%.


2.    China foreign exchange reserves fall to $3.188 trillion
According to data released by the State Administration, as of the end of March 2022, China’s foreign exchange reserves were reported at $3.188 trillion, a month-on-month decrease of $25.837 billion, or 0.8%. Gold reserves at the end of March were 62.64 million ounces, the same as the previous month.


3.    The Protocol to Upgrade the Free Trade Agreement between Singapore and China officially entered into force
Recently, the Ministry of Commerce of China stated that the “Protocol between the Government of the People’s Republic of China and the Government of New Zealand on Upgrading the Free Trade Agreement” has officially entered into force. This move will further expand the market opening of goods, services, investment and other fields.


4.    Ningbo Port is expected to complete a container throughput of 9.53 million TEUs
Ningbo Port recently announced that from January to March 2022, the company expects to complete a total container throughput of 9.53 million TEUs, a year-on-year increase of 3.2%. It is expected to complete a total cargo throughput of 257.52 million tons, a year-on-year increase of 3.7%.

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