US Dollar Exchange Rates of
25th
Jan
2025
China Yuan 7.243
Report from China
EU preliminary anti-dumping ruling on multilayer wood
flooring
It has been reported that the European Commission has, in
an announcement on 15 January 2025, made a preliminary
anti-dumping ruling on Chinese multilayer wood flooring
and imposed provisional anti-dumping duties.
Provisional anti-dumping duty for one company is 45.9%,
for 5 companies 42.3%, two companies is 42.7%, for other
enterprises the rate is 46.7% or 49.2%.
The product involved has the EU CN (Combined
Nomenclature) code HS4418 7500 but does not include
bamboo panels or panels with at least a top layer of
bamboo (wear resistant layer) and flooring with Mosaic
panels.
See:
https://cacs.mofcom.gov.cn/cacscms/article/ckys?articleId=1831
21&type=1
and
https://news.futunn.com/en/flash/18328363/the-eu-has-made-a-
preliminary-anti-dumping-ruling-
on?level=1&data_ticket=1737859139113318
Tariff rates on imported wood products adjusted
China’s Tariff adjustment Plan for 2025 has been
announced and China will adjust the import tariff rates on
certain goods as of 1 January 2025 in an effort to expand
domestic demand and advance high-standard production.
Provisional import tariffs lower than the most-favored-
nation rates will be applied to 935 commodities as part of
the annual tariff adjustment plan. This plan will help
increase the imports of quality products.
The tariff rates for imported wood products, including
wood or bamboo charcoal, veneer, wood floor, fibreboard,
plywood, wooden doors, wood formwork, wooden pallets,
barrels and wooden tools, cork and cork products, bamboo
and rattan products have been adjusted.
Under 24 free trade and preferential trade arrangements,
conventional tariff rates will be applied to certain products
from 34 countries or regions in 2025 as part of China's
efforts to expand its globally-oriented free trade areas.
Among these, lower tariffs under the China-Maldives free
trade agreement, effective 1 January 2025, will eventually
lead to zero tariffs on nearly 96% of tariff lines.
China will also continue to offer zero-tariff treatment on
100% of tariff lines in 2025 to the 43 least developed
countries with which it has diplomatic relations in a bid to
support their development and foster mutual benefits.
See::http://gss.mof.gov.cn/gzdt/zhengcejiedu/202412/t20241227
_3950705.htm
and
http://gss.mof.gov.cn/gzdt/zhengcefabu/202412/t20241227_3950
708.htm
Particleboard production capacity to exceed 70 million
It is forecast that total production capacity of particleboard
in China could exceed 70 million cubic metres per year by
the end of 2025.
48 particleboard production lines have been built and put
into operation in 2024 in China with a new production
capacity of 15.41 million cubic metres per year, the largest
annual total production in the history of China's
particleboard industry.
305 particleboard production enterprises in China had 329
production lines at the end of 2024 and these are
distributed in 22 provinces and municipalities with a total
production capacity of 64.15 million cubic metres per year
and a net increase of 11.46 million cubic metres per year,
an increase of 22% on the basis of the end of 2023.
China's particleboard industry showed a decline in the
number of enterprises but the number of production lines,
production capacity and average single-line production
capacity continues to rise.
There are 30 particleboard production lines under
construction in China with a total production capacity of
10.15 million cubic metres per year. 7 regions in the
country (East China, South China, Central China, North
China, Southwest, Northwest and Northeast) have
particleboard production lines under construction
including 23 continuous flat pressing production lines with
a total production capacity of 9.3 million cubic metres per
year. These account for 92% of the production capacity
under construction.
Among the particleboard production lines under
construction, there are 4 OSB (including multi-functional
production line) production lines with a total production
capacity of 1.5 million cubic metres per year which will be
completed and put into operation from 2025 to 2026. At
that time the national OSB production capacity will further
grow breaking through 19 million cubic metres per year.
China's particleboard industry has grown such that there
is
a risk of imbalance between supply and demand.
Production to come on line in 2025/26 will lift total
production capacity of China’s particleboard to70 million
cubic metres.
Growth in particleboard exports
According to data from China Customs in the first 11
months of 2024 China’s particleboard exports rose over
30% to 468,000 cubic metres valued at US$262 million,
up 7% over the same period of 2023.China’s particleboard
exports to all of the destinations grew.
China’s particleboard exports to Taiwan P.o.C were the
highest and rose 50% to 113,000 cubic metres in the first
11 months of 2024. China’s particleboard exports to South
Korea more than doubled I 2024.
Surge in plywood imports from Russia
According to data from China Customs in the first 11
months of 2024 plywood imports totalled 764,000 cubic
metres valued at US$205 million, jumping over 180% in
volume and up 7% in value over the same period of 2023.
Russia was the largest supplier of plywood to China in the
first 11 months of 2024. Plywood imports from Russia
surged over 230% to 716,000 cubic metres, accounting for
94% of the national total import volume.
Chinese enterprises have built factories in Russia to
manufacture plywood and export to China via the China-
Europe railway and these enterprises account for most of
the increased exports. Indonesia and Malaysia were the
second and third largest suppliers of plywood to China in
the first 11 months of 2024. China’s plywood imports
from Indonesia and Malaysia were 18,000 cubic metres
and 6,000 cubic metres, respectively.
Substantial growth in plywood exports
According to data from China Customs in the first 11
months of 2024 China’s plywood exports grew
substantially and totalled 11.98 million cubic metres, up
24% over the same period of 2023.
China's plywood exports to all destination countries,
except Japan, expanded in the first 11 months of 2024.
China’s plywood exports to the Philippines were largest at
909,000 cubic metres, up 4% over the same period of
2023. China’s plywood exports toTaiwan P.o.C surged
over 140% to 707,000 cubic metres. In contrast, China’s
plywood exports to Japan alone fell 5% in the first 11
months of 2024.
Sales of consumer goods
The National Bureau of Statistics has reported retail sales
of consumer goods in November 2024 reached 4,376.3
billion yuan, up by 3%. Of the total retail sales of
consumer goods other than automobiles reached 3,899.8
billion yuan, up by 2.5%.
Between January and November retail sales of consumer
goods reached 44,272.3 billion yuan, up by 3.5% year on
year of which the retail sales of consumer goods other than
automobiles expanded 3.7%.
.
See:
https://www.stats.gov.cn/english/PressRelease/202412/t2024122
3_1957835.html
Investment in real estate, January to November 2024
Between January and November investment in real estate
development nationwide declined 10.4%, of which
investment in residential buildings was down by 10.5%.
See:
https://www.stats.gov.cn/english/PressRelease/202412/t2024122
4_1957843.htm
GGSC report December
Beginning December 2024 the Chinese government
extended zero-tariff treatment on all tariff lines for
products originating from all the Least Developed
Countries that maintain diplomatic relations with the
country.
Currently, China sees strong growth in large-scale
equipment renewals and trade-in programmes for
consumer goods. In November retail sales of furniture
increased by 36% year-on-year.
In December the GTI-China index registered 49.8%, an
increase of 0.1 percentage point from the previous month
and was below the critical value (50%) where it has been
for 2 consecutive months indicating that the business
prosperity of the timber enterprises represented by the
GTI-China index declined from the previous month.
In December the production volume in China's timber
sector was relatively stable. On the demand side, the
volume of export orders continued to grow, however,
domestic orders declined compared to the previous month.
As for the twelve sub-indices, four, export orders,
inventory of finished products, inventory of main raw
materials and delivery time were above the critical value
of 50%, one index (production) was at the critical value,
while the remaining seven indices, new orders, existing
orders, purchase quantity, purchase price, import,
employees and market expectation were all below the
critical value.
Compared to the previous month, the indices for
production, export orders, inventory of finished products,
purchase quantity, inventory of main raw materials and
delivery time increased by 0.1-7.4 percentage point(s) and
the indices for new orders, existing orders, import,
purchase price and employees declined.
The Global Timber Index (GTI) has launched a new sub-
index, the Market Expectation Index, which tracks and
monitors the confidence levels of leading timber
enterprises in GTI pilot countries regarding the trends of
their countries’ timber and wooden products markets over
the next six months.
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