Weekly International Trade Events(1)

Weekly International Trade Events(1)

1. China's use of foreign investment increased by 28.7% year-on-year

According to data released by the Ministry of Commerce a few days ago, from January to June, the country's actual use of foreign capital was 607.84 billion yuan, a year-on-year increase of 28.7%. From an industry perspective, the actual use of foreign capital in the service industry was 482.77 billion yuan, a year-on-year increase of 33.4%; the actual use of foreign capital in the high-tech industry increased by 39.4% year-on-year.

2. China reduced its holdings of U.S. debt for three consecutive months

Recently, a report issued by the U.S. Treasury Department showed that China has reduced its holdings of U.S. debt for the third consecutive month, reducing its holdings from $1.096 trillion to $1.078 trillion. But China remains the second largest overseas holder of U.S. debt. Among the top 10 U.S. debt holders, half are selling U.S. debt, and half are choosing to increase their holdings.

3. U.S. Senate legislation prohibits the import of products from Xinjiang

According to Reuters, the US Senate passed a bill a few days ago to prohibit US companies from importing products from Xinjiang, China. This legislation assumes that all products manufactured in Xinjiang are manufactured through so-called "forced labor", so it will be prohibited unless otherwise proven.

4. The U.S. White House is brewing to launch a digital trade agreement

According to a recent report by Bloomberg, the US Biden administration is considering a digital trade agreement covering the Indo-Pacific economies, including data usage rules, trade facilitation and electronic customs arrangements. The agreement may include countries such as Canada, Chile, Japan, Malaysia, Australia, New Zealand, and Singapore.