US Dollar Exchange Rates of
25th
Sep
2024
China Yuan 7.01
Report from China
Rise in particleboard trade in the first half of
2024
According to China Customs, in the first half of 2024
China’s particleboard exports totalled 225,000 tonnes, up
19% over the same period of 2023. The largest increases
in exports were to China’s four largest markets, with
exports to Taiwan P.o.C, Mongolia, Nigeria and Vietnam
rising 41%, 36%, 30% and 103% respectively. In contrast,
first half particleboard exports to Chile, UAE, Saudi
Arabia and Indonesia fell 6%, 6%, 46% and 9%
respectively compared to the same period in 2023.
In the first half of 2024, China imported 362,000 tonnes of
particleboard with a total value of US$148 million,
respectively 14% and 5% more than the same period in
2023. Imports of this commodity from Poland increased
over 600% to 26,000 tonnes during this period. Trade was
reported to have been boosted by the China-Europe
railway which carried 11% more cargo overall in the first
seven months of 2024 compared to the same period in
2023, according to www.trans.info.
China’s imports of particleboard from Brazil, Belarus and
Vietnam also increased significantly in the first half of
2024, up 74%, 63% and 59% respectively compared to the
same period in 2023. However, imports from Romania
were down 52% to 26,000 tonnes and imports from Russia
fell 48% to 13,000 tonnes during the period.
China’s fibreboard trade on upward trend
According to China Customs, in the first half of 2024
China’s fibreboard exports totaled 1.293 million tonnes,
up 28% over the same period of 2023. The growth was
largely accounted for by rises in demand in its three
leading export markets.
Saudi Arabia was China’s largest fibreboard foreign sales
destination in the first six months with exports up 94% to
153,000 tonnes, accounting for 12% of its exports. Sales to
Vietnam and Mexico, the second and third largest export
destinations, grew 89% and 35% to 148,000 tonnes and
130,000 tonnes respectively over the same period of 2023.
In addition, China’s fibreboard exports to USA, UAE,
Canada, Algeria and Australia increased at faster rates in
the first half of 2024. Exports to Nigeria and UK fell 10%
and 23% in the period.
Although China's fiberboard imports were not large, at
24,000 tonnes, they were up 30% in the first half of 2024
compared to the same period of 2023. Imports from most
suppliers increased at faster rates. China’s fibreboard
imports from both Australia and Russia were up 1000%,
albeit from a low base, and imports from Romania rose
over 200%. Chinese fibreboard imports from Spain and
Poland fell 10% and 12% during the period.
Chinese back UAE timber industrial zone
China’s Shandong Timber and Wood Products
Association (STWPA) has signed an agreement to invest
US$360 million in the establishment of the China-UAE
Shandong Industrial Zone in Ras Al Khaimah.
According to the agreement, the first phase of the project
will cover development in the Al Ghal and Al Hurera
areas of the Ras Khaimah Economic Zone (RAKEZ),
covering an area of 450,000 sq.m. It is planned to expand
this to more than 1 million sq.m in the next three years.
The industrial zone is expected to attract more than 60
new businesses focused on timber but also in the food and
beverage sectors. It will create an estimated 3,500 new
jobs over the next five years.
Shandong Timber & Wood Products Association is
involved with similar industrial zone projects in Indonesia
and Ethiopia. The organisation supports more than 1,700
wood enterprises worldwide, which are reported to
account for 10% of global wood furniture production, with
an annual output value of US$55 billion.
RAKEZ is already home to more than 200 Chinese
enterprises covering multiple industries.
See: https://www.zawya.com/en/projects/bri/chinas-stwpa-to-set-
up-360mln-industrial-park-in-rakez-dgr8whxg
and https://peoplesdaily.pdnews.cn/bri-news/er/30046267172
Italian panel machinery producer launches in China
The Italian wood-based panel machinery producer Imalpal
Group has concluded arrangements for the establishment
of Imalpal Machinery Manufacturing (Tianjin) Co. Ltd in
Tianjin’s Wuqing Development Area. This is its first
manufacturing venture in China.
Besides the wood-based panel sector, Imalpal produces
technology for the pressed wood packaging, pellets and
energy and wood recycling and waste treatments sectors.
The Wuqing Development Area says the arrival of Imalpal
further underlines its ambitions to attract business from
around the world.
Bazhou furniture sells well overseas
After reaching RMB2.842 billion (US$404 million) in
2023, the value of furniture exports from the city of
Bazhou in Hebei province totaled more than RMB1.5
billion (US$213 million) from January to May 2024.
The City has over 4,000 furniture enterprises, with
combined annual sales of over RMB50 billion (US$7.11
billion). Their products sell to more than 130 countries,
with lead markets including the US, UK, Japan, Russia,
Southeast Asian, European Union and Middle Eastern
countries.
To develop foreign business further, the Bosinuo
company, mainly selling Bazhou furniture, has established
warehouses in export markets and set up independent
stores on cross-border e-commerce platforms such as
Amazon and Alibaba.
It has a 120-strong cross-border e-commerce team that
uses big data to analyse overseas market demand and
consumption habits, focusing on interaction with
consumers, providing personalized shopping suggestions,
and improving product competitiveness.
The Bazhou E-commerce Industrial Park further backs
business development through service centres, providing
data, logistics and warehousing support.
The Bazhou authorities also helps local enterprises to
participate in furniture exhibitions in China and abroad.
That includes the 51st China (Guangzhou) International
Furniture Fair, the 2023 Malaysia International Furniture
Fair, where more than 90 Bazhou companies participated,
and the Cologne Furniture Fair in January 2024, which
was attended by 70 manufacturers from the city.
See: http://www.bazhou.gov.cn/xwzx/mtjj/content_29250 &
https://finance.sina.com.cn/jjxw/2024-08-02/doc-
inchfmif7190876.shtml
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