Morning News on May 11, 2024

Morning News:① Guangdong’s exports increased by 8.8% in the first four months of this year, and the export of mechanical and electrical products has a good momentum

② Guangdong: Focus on building a number of trillion-level and hundreds of billion-level export industry clusters such as electronic information and new energy storage

③ Passenger Car Association: Passenger car exports in April were 417,000 units, a year-on-year increase of 38%

④Australia filed an application for anti-circumvention investigation in the anti-dumping case of Chinese wire rod

⑤Amazon: The number of Chinese sellers with sales exceeding US$10 million in 2023 will increase by nearly 30% year-on-year

⑥Mexico cancels 35% tariff on aluminum imports to cope with aluminum shortage

⑦ South Korea’s foreign reserves fell the most in 19 months. Since the beginning of this year, the South Korean won’s exchange rate against the US dollar has depreciated by more than 5%.

⑧Intel said the U.S. government’s export restrictions to China will hit its sales revenue

⑨BYD plans to invest billions of euros in the EU and aims to become the largest seller of electric vehicles in Europe by 2030

⑩Temu performed well in the Hungarian market, with customer base exceeding 1.28 million in just eight months

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