Are foreign traders ready?
New foreign trade regulations released in November
➢ Customs applicable exchange rate in November
➢ "Regulations of the Customs of the People's Republic of China on the Classification and Administration of Import and Export Goods" will come into effect on November 1
➢The Port of Los Angeles and the Port of Long Beach announced that new surcharges will be charged to shipping companies starting November 1
➢South Korea will reduce fuel tax by 20% starting November 12
➢Starting from November, chip and wafer foundry manufacturers will increase prices again!
➢Brazil plans to publicly auction 5G spectrum in November
➢Japan announced its economic stimulus plan in early November
➢Ukraine extends ban on electricity imports from Russia and Belarus until November
➢ Egypt Canal gas ship tolls to be reduced from November 1
➢From November, many countries have relaxed or opened up their entry policies
01
Customs applicable exchange rate in November
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02
The "Regulations of the Customs of the People's Republic of China on the Classification and Administration of Import and Export Goods" will come into effect on November 1
The "Regulations of the Customs of the People's Republic of China on the Classification Management of Import and Export Goods" was reviewed and approved at the General Administration of Customs' executive meeting on September 6, 2021, and is now promulgated and will come into effect on November 1, 2021.
03
The Ports of Los Angeles and Long Beach announced:
On November 1, new surcharges were charged to shipping companies
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On October 25, the Port of Los Angeles issued an announcement announcing that in order to improve the operating efficiency of U.S. ports and improve congestion, the Port of Los Angeles and the Port of Long Beach will implement a new policy - charging shipping companies a new surcharge applicable to imported containers stranded at the docks.
According to the new policy, starting from November 1 this year, the Port of Los Angeles and the Port of Long Beach will charge shipping companies a surcharge of US$100 per box for the following two types of goods, and the fee will increase by US$100 per box per day.
First, for containers planned to be transported by truck, if the stay time at the terminal exceeds 9 days (including 9 days), the above surcharge will be charged to the shipping company.
The second category, for containers transported by rail, if the stay time at the terminal exceeds 3 days (including 3 days), the above surcharge will be charged to the shipping company.
04
South Korea to cut fuel tax by 20% from November 12
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Korea International Broadcasting Station reported on October 26 that South Korea will temporarily reduce fuel taxes by 20% from November 12.
According to the measure, gasoline prices will be reduced by 164 won (about 0.9 yuan) per liter, diesel by 116 won per liter, and butane gas by 40 won per liter. The quota tariff rate for imported liquefied natural gas (LNG) is temporarily 0%. This fuel tax reduction is the largest in history.
05
Chip and wafer foundry manufacturers raise prices again!
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On September 27, XILINX announced that all VersalM series products will increase by 10%, and other products will increase by 20%, effective November 1. MediaTek plans to increase the prices of some chip solutions from November 1 , especially the prices of Wi-Fi solutions including MT7668 and MT7663 series, with the increase up to 30%.
Renesas Electronics suddenly issued a price increase letter. In order to maintain supply and long-term manufacturing continuity, it decided to increase the pricing of most products, effective January 1, 2022.
06
Brazil plans to auction 5G spectrum in November
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The Board of Directors of Brazil's National Telecommunications Agency held a special meeting on the 24th to pass the final version of the decree on the fifth-generation mobile communications technology (5G), and plans to publicly auction the 5G frequency band on November 4th.
In this auction, telecom companies will bid for four frequency bands: 700MHz, 2.3GHz, 3.5GHz and 26GHz. The validity period of the company's 5G frequency band operation rights is 20 years. According to the plan, Brazil will start providing 5G services in state capitals in July 2022. It is reported that telecom operators including Claro, Brasil Telecom, Italian Mobile Telecom Group Joint Stock Company and Vivo will participate in the bidding.
07
Japan to announce economic stimulus plan in early November
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Japanese Economy Minister Daishiro Yamagiwa said on Tuesday that an economic panel led by Prime Minister Fumio Kishida will compile a stimulus package proposal in early November to mitigate the impact of the coronavirus on Japan's economy, Reuters and The Japan Times reported on Tuesday (October 26).
The proposal will also include a roadmap for long-term policy priorities, such as building stronger supply chains, promoting innovation and distributing wealth to low-income households .
08
Ukraine extends ban on electricity imports from Russia, Belarus until November
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Ukraine's energy regulator has extended the ban on electricity imports from Russia and Belarus, which was imposed in May this year, until November 1. According to local media Ukrinform, the National Energy and Utilities Regulatory Commission (NEURC) adopted the relevant decision on September 29. According to the memorandum of the decision, between May 26 and September 23, NEURC did not receive any calls for the need to resume electricity imports from non-Energy Community member countries.
09
Egypt's Canal gas ship tolls to be reduced from November 1
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Cailian Press reported on October 27 that Egypt's Suez Canal said it would reduce the fixed rebate on canal tolls for liquefied natural gas tankers from 25% to 15% , effective November 1.
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