The Impact of Rising Trade on Countries

1. The total value of imports and exports of China's general merchandise increased year-on-year

Today, the latest data released by China's General Administration of Customs showed that the total value of China's import and export of general merchandise in May was 3.14 trillion yuan, a year-on-year increase of 26.9%. It is an increase of 0.3 percentage points from the previous month and an increase of 20.8% from the same period in 2019. Among them, the export of general merchandise in China increased by 18.1%, and the growth rate fell 4.1 percentage points from the previous month; the import increased by 39.5%, and its growth rate accelerated by 7.3 percentage points from the previous month.

2. Korean online sales maintain high growth

Statistics released recently by the Korea Statistics Office showed that online sales of general merchandise products were 15.1 trillion won in April, compared with 12.1 trillion won in the same period last year. South Korea's online sales in April decreased slightly compared with 15.9 trillion won in March, but still maintained high year-on-year growth, showing the continued rapid growth of online shopping under the influence of the epidemic.

3. The Group of Seven reached a historic agreement on corporate tax

A few days ago, the Group of Seven reached a landmark agreement to support setting the global minimum corporate tax rate to at least 15%. After that, hundreds of billions of dollars are expected to flow into the national treasury that has been swayed by the epidemic. It will squeeze more funds from multinational companies such as Amazon and Google, and reduce their incentives to shift general merchandise profits to low-tax offshore tax havens.

4. New sellers on the Walmart can apply for commission-free

Walmart recently launched a particular support program called New-Seller Savings. New sellers who successfully settle in it can enjoy the great benefit of exempting all commissions within 30 days. The program helped China's general merchandise retailers reduce costs and improve efficiency, accelerate their launch in the US market, and create a more cost-effective competitive advantage for general merchandise brands.

5. The UK economy will achieve the highest level of growth

The latest statistics released by the UK in recent days showed that the UK's GDP fell by 1.5% in the first quarter of 2021, which is about 3 percentage points higher than the Bank of England's forecast in February. With the lifting of the lockdown policy, the UK economy is expected to achieve its highest level of growth in more than 70 years in 2021. One of the significant reasons for the economic recovery beyond expectations is that the epidemic has been effectively controlled.