As per declaration of Shanghai Customs, from Jan to Jun, 2013, export and import volume at Shanghai comes to 3823.5 hundred million U.S. dollars, which is 2.5% decreased than that in Jan – Jun of last year (same as below). Export comes to 2368.2 hundred million U.S. dollars, 0.7% decreased. Import comes to 1455.3 hundred million U.S. dollars, 5.2% decreased.
Export & import to EU (the largest trading partner) declined, while export & import to US & ASEAN keep increasing. From Jan to Jun, 2013, export & import volume between Shanghai and EU comes to 778.3 hundred million U.S. dollars, 4.6% decreased. Meanwhile export & import volume between Shanghai and US comes to 672 hundred million U.S. dollars, 0.8% increased. Export & import volume between Shanghai and Japan comes to 461.9 hundred million U.S. dollars, 9.5% decreased. All above mentioned comes to 50% of the whole export & import volume in Shanghai. Furthermore, export & import volume between Shanghai and ASEAN comes to 459.9 hundred million U.S. dollars, 2.4% increased. (from the website of China International Maritime)
Recently economic recovery in USA is improved, yet it does not promote export in Asia. As per some authority analysis, Asian economy may be more tough due to more severe global monetary policy and more fund being withdrawed from new developing market.
According to the data of Reuters, in the second quarter of this year, export increase was paused in Asia (such as China, Japan, South Korea, Thailand, Singapore, etc.), especially for export to EU. Export from China to EU declined 8%, export from Japan to EU declined 20%, which is the seventh consecutive quarter of decline.
As per some authority analysis, the growth of Asian new developing market may be finished temporarily and a new significant adjustment will start. But it’s still very important to promote global economic growth in the long term . The new developing countries in Asia have large domestic market, which will promote global economy continuously. (from the website of China International Maritime)
In accordance with the new Circular 37 of Cai Shui [2013] on “Tax Policy of Value Added Tax (VAT) Pilot Program on Transportation & Modern Services Sector”, jointly issued by the Ministry of Finance (MOF) and the State Administration of Taxation (SAT) of P.R. China on 24 May 2013, the related VAT tax policy will be expanded nationwide with effect from 1 August 2013 onwards.
In light of the above, an additional 6% Value Added Tax (VAT) and associated surtaxes will be levied on top of the freight and all surcharges payable at China from 1st August 2013, based on the issuance date of the VAT invoice, which carriers will follow to implement.
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