The global manufacturing PMI dropped to 47.8% in June; the EU and New Zealand signed a free trade agreement!

NO.1 Global manufacturing PMI fell to 47.8% in June

Recently, the China Federation of Logistics and Purchasing released data showing that the global manufacturing PMI in June 2023 was 47.8%, a decrease of 0.5 percentage points from the previous month, a month-on-month decline for four consecutive months, and below 50% for nine consecutive months. A new low since June 2020.

In June, the Asian manufacturing PMI was 50.4%, the same as the previous month, and it was above 50% for six consecutive months, showing that the Asian manufacturing industry continued to maintain a steady growth trend.

From the perspective of major Asian countries, although the PMI of China's manufacturing industry is still below 50%, the economic operation has stabilized, the decline in market demand has slowed down, the growth momentum of new kinetic energy demand has accelerated, and the production of enterprises has grown steadily. The destocking of finished products continues to advance, and market prices have also stabilized; India's manufacturing industry continues to maintain a relatively high growth rate, although it has slowed down from the previous month, but the PMI is still above 57%; Japan's manufacturing industry has contracted again, and the PMI has dropped to Below 50%; Vietnam and South Korea's manufacturing industry still maintains a downward trend, with PMI below 48%.

NO.2 The European Union and New Zealand signed a free trade agreement

On July 9, local time, the European Union and New Zealand signed a free trade agreement (FTA). At present, the agreement has been submitted to the European Parliament for review and will take effect after the EU and New Zealand complete the ratification process.

According to the estimates of the EU, this agreement will promote a 30% increase in bilateral trade within ten years, the EU's annual exports to New Zealand are expected to increase by 4.5 billion euros, and the EU's investment in New Zealand is expected to increase by 80%.

NO.3 The high temperature in many places around the world may usher in the "big roast" of El Niño

Recently, the United States, the United Kingdom, France, etc. have experienced frequent high-temperature weather, and some areas have continuously set new high-temperature records. Weather experts warn that 2023 could be the hottest year on record. The World Meteorological Organization also recently released a report stating that the tropical Pacific region has formed El Niño conditions for the first time in seven years. It is expected that the temperature in most parts of the world will rise further in the future, and there may be record high temperatures within five years. All countries should be prepared to deal with related climate events..

The European Union's climate monitoring agency, the Copernicus Climate Change Service, said last month the world had its hottest June on record, with temperatures in May also "almost on par" with the hottest record ever recorded. Temperatures "off the charts" have led to droughts, triggered extreme weather, and fueled fires - the consequences of which have been seen in many parts of the world. The World Meteorological Organization believes that, based on model forecasts and expert assessments from many parts of the world, there is a 90% probability that an El Niño event will occur from July to September 2023 and last until the end of the year, with "at least moderate intensity".

NO.4 China (Guangdong) Pilot Free Trade Zone-Linkage Development Zone signed a cooperation initiative

Source: CCTV news client intrusion and deletion

Recently, Nansha, Qianhai and Hengqin areas of Guangdong Pilot Free Trade Zone and 13 joint development zones of free trade zones officially signed a high-quality development cooperation initiative, focusing on copying and promoting reform and innovation experience, improving trade facilitation, and promoting synergy among advantageous industries In terms of development and strengthening of talent introduction and exchanges, strengthening research cooperation, etc., deepen the policy linkage, industrial linkage, and innovation linkage between the free trade pilot zone and the free trade linkage development zone, and establish a regular meeting and special conference system to promote the linkage between the free trade zone and the development zone. Development zone cooperation exchange and industry docking.

In May last year, with the approval of the Guangdong Provincial Government, Guangdong Pilot Free Trade Zone Joint Development Zone was established in 13 cities including Guangzhou, Shenzhen, Zhuhai, Shantou, Foshan, Shaoguan, Huizhou, Shanwei, Dongguan, Zhongshan, Yangjiang, Zhanjiang and Maoming. "Linkage experiment, collaborative innovation, and resource sharing" with the Free Trade Pilot Zone.

NO.5 The first round of negotiations on the China-Honduras Free Trade Agreement started

The first round of negotiations on the China-Honduras Free Trade Agreement was held in Tegucigalpa, the capital of Hong Kong, on the 7th. Wang Shouwen, International Trade Representative and Vice Minister of the Ministry of Commerce, led the Chinese delegation to the meeting, and Serrato, the Minister of Economic Development of Honduras, led the Hong Kong delegation to the meeting. The two sides conducted in-depth consultations on the overall goals of the negotiations, work responsibilities and next-step arrangements, and reached broad consensus.

On the same day, the first meeting of the China-Hong Kong Economic and Trade Mixed Committee was held in Tegucigalpa. The two sides exchanged views on issues such as developing bilateral economic and trade relations, jointly building the "Belt and Road", promoting trade and investment, and developing cooperation under the WTO framework. Yu Bo, Chargé d'affaires ad interim of the Chinese Embassy in Honduras, Zelaya, Chairman of the Foreign Affairs Committee of the Honduran National Assembly, and Foreign Minister Reina attended the meeting.