US Dollar Exchange Rates of
China Yuan 6.8898
Report from China
Investment in real estate
In the first seven months of this year domestic investment
in real estate increased by 3.4% year-on-year, and the
growth in investment in July continued the upward trend.
As an indicator of future prospects for the balance
in the real estate sector the area of land purchased for
development fell slightly in July when compared to July
Sharp decline in China¡¯s log imports
China¡¯s log imports fell sharply in the first half of 2020 to
24.51 million cubic metres valued at US$3.558 billion,
down 60% in volume and 62% in value from the same
period of 2019.
Of total log imports, softwood log imports fell 61% to
17.64 million cubic metres, accounting for 72% of the
national total. Hardwood log imports fell 55% to 6.87
million cubic metres (28% of the national total log
Of total hardwood log imports, tropical log imports were
4.11 million cubic metres valued at US$956 million, down
59% in volume and 64% in value from the same period of
2019 and accounted for 60% of all hardwood log imports.
US no longer largest log supplier
The main countries supplying more than 1 million cubic
metres of logs to China in the first half of 2020 were New
Zealand, Russia, Germany, Australia, PNG, Czech Rep.,
US and Solomon Islands. Shipments of logs to China from
all main suppliers fell in the first half of the year. The
decline of more than 70% in shipments of logs from the
US was the most significant.
In the first half of the year New Zealand was the main log
supplier to China accounting for 26% of total log imports.
Imports from New Zealand totalled 6.33 million cubic
metres, down 64% from the same period of 2019.
The second ranked supplier of logs was Russia at 3.29
million cubic metres, down 56% from the same period of
2019 and accounting for about 13.5% of the national total.
The third ranked supplier of logs was Germany at 3.29
million cubic metres, down 22% from the same period of
2019 and accounting for just over 13% of the national
total. Germany has become the most important supplier of
China¡¯s log imports.
Major entry ports for log imports from
Over 90% of China¡¯s log imports from Germany in the
first half of 2020 were through Qingdao Port in Shandong
Province which handled around 45% of all log imports.
The other major entry points for logs were Yanshan in
Shanghai, Dapeng Port in Guangdong Province, Tianjin
Port and Xiamen Haicang Port in Fujian Province.
The average price for China¡¯s log imports from Germany
through Qingdao port was the lowest at US$96 per cubic
metre just below the average price for logs of US$100 per
cubic metre. Logs supplied to China from Germany
arrived via the China-Europe Railway Express.
Decline in tropical hardwood log imports
Tropical log imports in the first half of 2020 amounted
4.11 million cubic metres valued at US$965 million, down
59% in volume and 64% in value over the same period of
2019 and accounted for 17% of the national total log
In the first half of 2020 China imported tropical logs
mainly from Papua New Guinea (34%), Solomon Islands
(25%), Brazil (8.3%), the Republic of Congo (5.9%),
Cameroon (5.0%), Equatorial Guinea (4.8%),
Mozambique (3%) and Suriname (3%). Just 8 countries
supplied nearly 90% of China¡¯s tropical log requirements
in the first half of 2020.
Tropical hardwood log imports from the main suppliers
were sharply down in the first half of 2020. Log imports
from Equatorial Guinea and Mozambique fell 70% and
Before their log export bans, Laos and Myanmar were
major sources of tropical logs for China. However,
China¡¯s log imports from Laos in the first half of 2020 fell
to just 15,500 cubic metres valued at US$18 million, down
82% in volume and 83% in value.
China¡¯s log imports from Myanmar fell to just 1,300 cubic
metres valued at US$1.45 million, down 88% in volume
and 89% in value.