Global Trading News On May. 28, 2024

1. In April 2024, in the ranking of global payment currencies based on dollar amount statistics, the RMB maintained its position as the fourth most active currency in the world, accounting for 4.52%.

2. Italian Minister of Economy and Finance Giorgetti said that as cars transition to electrification, the government is considering imposing a consumption tax on electric vehicles.

3. Russian seaport cargo throughput fell by 4.3% year-on-year, with coal transshipment volume falling significantly.

4. Since the end of April, spot freight rates have soared on routes to the US coast, with an average increase of up to US$1,500. Early data from Xeneta suggests freight rates will rise further in early June.

5. AliExpress signed football superstar David Beckham as its global spokesperson. With European Cup + Beckham, Chinese cross-border merchants will usher in a wave of traffic peaks.

6. Market analysts believe that a series of stronger-than-expected economic data, coupled with the latest comments from policymakers, indicate that the Federal Reserve will not ease policy in the short term.

7. The Philippine Senate recently passed a bill that will impose a 12% value-added tax (VAT) on digital service providers without entities in the Philippines.

8. The "Olympic economy" continues to heat up, with Zhejiang's exports of sporting goods and equipment exceeding 10 billion from January to April, a year-on-year increase of 24.8%.

9. Note for exporting to the United States: The International Trade Commission has made a final ruling on double-anticipated industrial damage to brass rods. This move may have a significant impact on the global brass market.

10. The spot exchange rate of RMB against the US dollar closed at: 1 US dollar = 7.2642 RMB.