trade news

​Cross-border cargo transported via the China-Laos Railway totalled 1.8 million tons and was valued at 12 billion yuan (around $1.7 billion) in November 2022.

Starting from December 1, 2022, China will extend zero-tariff treatment to 10 least-developed countries. The country has taken this step, as a win-win outcome, in its endeavour to promote an open global economy while also helping the least-developed nations to accelerate their growth, as per the customs tariff commission of the state council.

Polyester (PET) is the most widely used fiber in the apparel industry, accounting for around 52% of the total volume of fibers produced globally. The apparel industry accounts for around 32 million tons of the 57 million tons of polyester used each year. Currently, only approximately 14% of this comes from recycled inputs – predominantly from post-consumer PET bottles (Textile Exchange Preferred Fiber & Materials Market Report 2020).

With China fighting a COVID resurgence, waiting container ships at several ports there like Qingdao are rising, putting further pressure on a strained global supply chain.