Shipping demand recovers amid China-US tariff adjustments

China

Shipping demand recovers amid China-US tariff adjustments

2025-05-14 20:59 Last Updated At：23:27

Shipping demand is on the track for a recovery after China and U.S. announced measures to ease tariff tensions between the two countries, according to Chinese freight forwarders.

China and the United States announced in Geneva on Monday a series of tariff modification measures aimed at easing trade tensions between the world's two largest economies.

The decision followed a two-day China-U.S. high-level meeting on economic and trade affairs, where both sides recognized the importance of their bilateral economic and trade relationship to both countries and the global economy, a joint statement said, noting that both sides emphasized the need for a sustainable, long-term and mutually beneficial economic and trade relationship.

Chinese freight forwarders say the announcement has driven up their business.

On Tuesday morning, Chen Xiang, general manager of Shanghai Pegasus Logistics, was busy repeatedly confirming the latest freight rates with his peers in the industry.

He said that soon after China and the U.S. released the statement, shipping companies verbally announced freight rate adjustments.

"Currently, the price has basically increased by about 500 U.S. dollars per container (twenty-foot equivalent unit). As demand has surged, there will definitely be a shortage of supply. We must book space in advance, to confirm the loading time and customs declaration time," he said.

In addition to communicating with peers and shipping companies, Chen and his employees are paying close attention to the clients' shipping demand.

"Factories and foreign trade companies have just learned about the news [on tariff reductions]. They need to schedule their shipments based on the backlog of orders they have received. If they place an order three to four days later, their shipments could resume around the end of next week," said Shi Lijun, business specialist of Shanghai Pegasus Logistics.

China's smart consumer device industry sees rapid growth amid policy boost

2025-07-13 22:01 Last Updated At：22:37

China's smart consumer device manufacturing sector has seen rapid growth this year, fueled by a government-backed trade-in program and the expansion of diversified consumption scenarios.

From January to May, the country's electronic information manufacturing industry maintained strong momentum, with total revenue of enterprises above the designated size reaching 6.49 trillion yuan (some 900 billion U.S. dollars), up 9.4 percent year on year.

Production of electronic consumer goods recorded steady increases. Over 140 million computers were produced during the period, up 8 percent from a year earlier, while 14.04 million television units rolled off assembly lines, up 1.7 percent year on year.

"Consumption scenarios are becoming more diversified. On the demand side, new smart products are quickly entering the market, opening up emerging markets in home services, health management, and beyond. On the supply side, the industry is clearly moving toward transformation and upgrading, with new growth drivers accelerating," said Zuo Kairui, director of the Industry Development Department of the Institute of Policy and Economics at the China Academy of Information and Communications Technology.

Looking ahead to the second half of the year, China plans to go on promoting its "AI plus consumer goods" initiative, encouraging the development and application of new technologies such as smart wearables, ultra-high-definition video, brain-computer interfaces, and robotics.

Meanwhile, authorities will continue to foster high-growth consumer sectors and guide the smart device industry toward greener, more service-oriented development.