US Dollar Exchange Rates of
10th
January
2026
China Yuan 6.98
Report from China
Continuous rise in soft furniture product prices
Due to increases in prices of leather and sponge materials,
prices of Chinese soft furniture products have risen by
about 5% at the same time the current US government
imposed a high tariff on some soft furniture, kitchen
cabinets and bathroom cabinets.
Industry associations and the US media have pointed out
increased tariffs on soft furniture, kitchen cabinets and
bathroom cabinets are resulting in higher costs for
American consumers. On 31 December 2025, US
government announced the postponement of a continuing
increase in tariff rates on imported soft furniture, kitchen
cabinets and bathroom cabinets, these increases were in
the the original US plan.
The US government began to impose a 25% tariff on soft
furniture, kitchen cabinets and bathroom cabinets imported
from most trading partners in October 2025. It planneds to
raise the tax rate on kitchen cabinets, bathroom cabinets
and related products to 50% from 1 January 2026 and
increase the tax rate on soft furniture to 30%.
Timber import costs continue to rise
Russia has extended the timber export tariffs until 2028
pushing up the costs for Chinese importers. This extension
applies to softwood panels, hardwood panels and squared
softwood. The validity period of the policy will be
extended until December 2028.
In terms of the Chinese market, as the main export market
for Russian timber, China accounts for approximately 60%
of its total timber exports. However, in the first 11 months
of 2025 the timber trade volume between China and
Russia has decreased by 8% year-on-year. The extension
of the tariff is expected to directly increase the import
costs for Chinese importers of Russian timber further
compressing the already meager profit margins.
Russian timber company plans processing plant in
Shanghai
A major Russian group has signed an agreement with the
Shanghai Lingang Economic Special Zone under which it
plans to build a cluster integrating manufacturing and
logistics within the zone in 2026.
The plan includes a consumer goods packaging factory in
the special zone as well as a production and distribution
centre for birch plywoods. This project aims to expand the
Group’s business in China and other markets in the Asia-
Pacific region and to reduce logistics costs and simplify
international payment procedures.
The investor has traditionally exported a significant
portion of its products to China. Sales in the Chinese
market include paper, solid wood products and plywood.
Diverse production of bamboo and wood products for
export
At present, as green and low-carbon development has
become the main theme of global trade, Zhangzhou City
of Fujian Province is leveraging its unique advantages and
has transformed its abundant bamboo and wood resources
into a strong driving force in export markets.
The level of exports of bamboo and wood products from
manufacturers in Zhangzhou City has continued to rise.
According to statistics from Zhangzhou Customs from
January to November 2025 the value of bamboo and wood
products exports reached RMB510 million.
Products made from bamboo have gained popularity due
to their environmental credentials and cost-effective and
practical features thus becoming an important driving
force for Zhangzhou City to expand its foreign trade.
Bamboo flooring is promoted as having superior
properties in terms of pest resistance and deformation
compared to wood.
Moreover, bamboo comes in a wide range of colours and
offers diverse manufacturing opportunities.
Traditional markets for bamboo products are mostly
confined to the indoor building sector. However,
Zhangzhou bamboo enterprises have identified
development opportunities in the outdoor market and have
vigorously developed bamboo products such as outdoor
flooring and handrails for garden landscapes. This
innovative measure not only enriches the product variety
but also opens up new export markets.
Today, bamboo enterprises in Zhangzhou have promoted
bamboo flooring, bamboo wall panels and related bamboo
fasteners to be exported to more than 70 countries and
regions such as Europe, the Middle East and East Asia.
The annual export volume exceeds 200 containers.
The Zhangzhou bamboo enterprises have plans to
incorporate more Eastern bamboo cultural aesthetics into
their products so that the bamboo products carrying
Chinese culture expand market penetration.
At present, the products of Zhangzhou bamboo enterprises
are exported to dozens of countries and regions such as the
European Union, the United States, Canada, Japan,
Southeast Asia, the Middle East and Africa. According to
the export market data Asian countries and regions are the
largest export markets for Zhangzhou bamboo and wood
products. RMB270 million worth of bamboo and wood
products from Zhangzhou City had been exported to this
region from January to November 2025, an increase of
16% year-on-year and accounted for 53% of the city's total
bamboo and wood product exports.
During the same period, Zhangzhou exported RMB55.11
million worth of bamboo and wood products to the
European Union, an increase of 8% year-on-year.
Zhangzhou bamboo enterprises have also made efforts in
the field of customised products. They have established a
panel furniture research and design centre. Through
measures such as product design optimisation, process
improvement, workflow upgrading and customised
services they are continuously enhancing their
competitiveness in export markets.
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