1. China Railway Construction Corporation enters Morocco's high-speed rail market for the first time
Recently, China Railway 20th Bureau successfully won the bid for the 5th section of the civil engineering project of the Kenitra-Marrakech high-speed rail project in Morocco. This is the first time that China Railway Construction Corporation has entered the Moroccan high-speed rail market. The Morocco high-speed rail is the first high-speed rail planned and constructed in Africa. It is planned to complete the construction of a 1,500-kilometer high-speed rail network across the north and south by 2035. The high-speed rail is implemented in three phases. The first phase, Tangier-Kenitra, was completed and opened to traffic in 2018. The second phase, Kenitra-Marrakech, is implemented this time. It is 430 kilometers long and has a designed operating speed of 320 kilometers per hour. It is invested by the Moroccan National Railway Administration.
2. China-Europe Express Trains are running at an accelerated pace of opening up
On November 15, with the departure of the X8083 China-Europe Express (Chongqing-Duisburg) from Chongqing Tuanjie Village Station, the cumulative number of China-Europe Express trains officially exceeded 100,000, with more than 11 million standard containers of goods shipped and a cargo value of more than US$420 billion. As a new type of international transport organization that is convenient, fast, safe, stable and green, in recent years, the number of China-Europe trains has maintained strong growth, the channel network has been continuously expanded, and the product supply has been continuously optimized. It has become an international logistics brand with strong radiation, driving force and influence.
3. Xinjiang Khunjerab Port officially enters year-round opening
It was learned from the Khunjerab Customs that from December 1, Xinjiang Khunjerab Port, the only land port between China and Pakistan, officially entered year-round opening from seasonal opening every year. The Khunjerab Port is located in Taxkorgan Tajik Autonomous County, Kashgar Prefecture, Xinjiang, and is located in the core area of the "China-Pakistan Economic Corridor" construction. In the past, due to the high altitude and snowy weather, the port was opened from April to November every year and closed from December to March of the following year.
4. Trump threatens to impose 100% tariffs on BRICS
According to CCTV News, on November 30, local time, US President-elect Trump posted on the social media platform he created, asking the "BRICS" to abandon plans to create new currencies or support other currencies to replace the US dollar, otherwise these countries will face 100% tariffs. Robert Handfield, a professor of operations and supply chain management at North Carolina State University, said that if tariffs are really raised, companies will have no choice but to pass on the increased costs, which "may cause many industries in the United States to close down" and "make many American companies bankrupt."
5. Russia's defense budget will increase by nearly 30% in 2025
According to the Associated Press on December 1, Russia's military spending in 2025 will increase to a record level. It is reported that Russian President Putin has signed the 2025 Russian federal budget, and the corresponding legal documents have been published on the official portal of Russian federal legal information. According to the Associated Press, about 32.5% of the Russian federal budget in 2025 will be used for defense, with a total of 13.5 trillion rubles (more than 145 billion U.S. dollars), higher than 10.4 trillion rubles in 2024, an increase of nearly 30%. (Global Times)
6. US inflation pressure may rebound significantly next year
The U.S. Department of Labor recently released the U.S. Consumer Price Index, Producer Price Index and Personal Consumption Expenditures Price Index for October. Although the overall performance was in line with expectations, some indicators rebounded, which was interpreted by the market as a stagnation in the downward trend of inflation, and Fed officials expressed a cautious stance on further interest rate cuts. Market participants believe that considering the series of policy proposals revealed by President-elect Trump that may exacerbate inflation, it is difficult for the U.S. inflation level to fall smoothly to the 2% level as expected by the Fed, but it may rebound significantly next year. (Xinhua)
7. South Korea's exports grew for the 14th consecutive month
Trade data released on Sunday showed that South Korea's exports to the United States and other countries fell due to uncertainty about tariffs. South Korea's export growth slowed for the fourth consecutive month in November, falling to the lowest level in 14 months. Exports from Asia's fourth-largest economy rose 1.4% year-on-year to $56.35 billion in November after rising 4.6% in October. It was the 14th consecutive month of year-on-year export growth, but it was also the slowest and below the median forecast of 2.8% growth given by economists surveyed.
8. South Korean official: It is necessary to increase US energy imports
Yonhap News Agency quoted the trade minister as saying on Sunday that South Korea has the ability to buy more US energy, which is cost-competitive compared with Middle Eastern imports. South Korea's Minister of Trade, Industry and Energy Ahn Duk-geun said South Korea needs to expand US imports and plans to incorporate it into policy "constructively", while private companies can consider it as part of their business strategy.
9. Global auto sales reached 74.21 million units in the first 10 months of this year
On December 1, Cui Dongshu, secretary-general of the Passenger Car Market Information Joint Branch of the China Automobile Dealers Association, issued a statement saying that in the first 10 months of this year, global auto sales reached 74.21 million units, of which new energy vehicle sales were 14.07 million units, accounting for 19%.
10. Vietnam's National Assembly passed the North-South High-Speed Railway Investment Plan
On November 30, local time, Vietnam's National Assembly passed a ten-year North-South High-Speed Railway Investment Plan. The plan will invest a total of US$67 billion, with a total length of 1,541 kilometers, with both ends located in the capital Hanoi and Ho Chi Minh City, connecting 20 provinces and cities in the middle. The Vietnamese National Assembly requires a feasibility study to begin in 2025 and strive to be basically completed by 2035. (CCTV News)
11. Russia lifts gasoline export ban ahead of schedule
The Russian government said on Saturday that it had lifted a temporary export ban on gasoline producers, but would extend restrictions on other fuel exporters until January 31, 2025. Russia's gasoline export ban was originally due to expire at the end of this year. "This decision was made to maintain the stability of the domestic fuel market, support the refining economy, and offset the gray export of automotive gasoline," the statement said.
