China Exports, Imports Set to Plummet
China’s exports and imports are expected to record double-digit declines in April after a tentative recovery in March as the coronavirus pandemic batters global demand and disrupts manufacturing supply chains, a Reuters poll showed on Wednesday.The pessimistic projections reinforce concerns that the collapse in global demand will restrain the recovery in the world’s second-biggest economy as it gets back on its feet after weeks of paralysis due to the virus outbreak.Shipments out of China are likely to have fallen 15.7% in April from a year earlier…
Shanghai-based EasyCargo Acquired by Amber Road
Global trade management (GTM) solutions provider Amber Road has acquired EasyCargo, a Shanghai-based company in the same field specializing in complex Chinese trade regulations. EasyCargo is a cloud-based solutions company with a specific focus on a subset of global trade management called China Trade Management, or CTM. EasyCargo’s CTM solution provides extensive automation to support the Chinese government’s regulations for an import regime called Processing Trade. Processing Trade affects companies that import materials and components into China and use those materials and components to manufacture finished goods for export to foreign markets. When properly administered, Processing Trade transactions are exempt from import duties and value-added-taxes on export.
