1. 2024 Global Unicorn 500 List Released

On July 15, the "2024 Global Unicorn 500 Conference" was held in Laoshan District, Qingdao. The report shows that the total valuation of the 2024 Global Unicorn 500 companies is nearly 30 trillion yuan (a year-on-year increase of 7%), surpassing the GDP of Japan, the world's fourth-largest economy. Unicorn companies are showing rapid growth. Additionally, China has 32 unicorns making it to the Global Unicorn 500, ranking first in the world. These new unicorns are concentrated in strategic emerging industries such as advanced manufacturing and automotive technology. Among them, three Chinese companies in the cross-border e-commerce logistics field made the list: SHEIN (7th), Cainiao (75th), and SF Express (487th).

Source: China.com

2. Lufthansa Cargo Adds New China Cargo Flights

On July 15, it was reported that Lufthansa Cargo is continuing to adjust its cargo network by adding two new destinations in China to capitalize on the growth in e-commerce demand. The airline will add Boeing 777 freighter flights to Shenzhen Bao'an International Airport (SZX) and Zhengzhou (CGO). The SZX flights will operate twice a week, while flights to CGO will operate three times a week. This expansion comes as the airline expects to receive its latest 777F aircraft in the coming months.

Source: Cross-border E-commerce Logistics Baixiao Network

3. Kerry Logistics Supports SF Express's First Import Mission to Canada

On July 15, it was reported that the Ezhou Huahu Airport SF-Kerry International Cargo Terminal, operated by Kerry Logistics, successfully handled SF Express's first import mission of Canadian lobsters. This 15-ton shipment of Canadian lobsters was transported by SF Express's 747 freighter, which departed from New York, stopped in Anchorage, and arrived in Ezhou. At the SF-Kerry International Cargo Terminal, customers completed the pickup procedures smoothly, and the goods were quickly distributed to Guangzhou, Beijing, Chengdu, and other locations across the country.

Source: Kerry Logistics

4. TikTok Launches New Business Overseas

On July 15, it was reported that TikTok is testing a new local life service in Southeast Asia, with the initial rollout in Indonesia and Thailand. According to an e-commerce service provider in Indonesia, TikTok's local life service is still in the internal testing phase, and only a limited number of users can see related group buying packages in their feed, mainly from restaurant merchants. Currently, some Thai accounts on TikTok are already inviting merchants to join TikTok's local service.

Source: 36Kr

5. Coupang to Increase Membership Fees

On July 15, it was reported that South Korean e-commerce giant Coupang will raise the monthly membership fees for all paid users. Starting from August 7, Coupang will increase the existing membership fee from 4,990 won (approximately $3.60) to 7,890 won. This adjustment aligns with the fee hike implemented for new members on April 13 this year. Previously, Coupang announced that it would charge new members a fee of 7,890 won, a significant increase of 58%.

Source: AMZ123

6. Lazada Announces New Policy in Malaysia

On July 15, Lazada announced the implementation of a new returns and refunds policy in Malaysia to enhance customer experience, making shopping more flexible and convenient. The new policy includes a 30-day worry-free return service for all items purchased through LazMall and Choice and extends the "change of mind" policy to more product categories. Items from non-LazMall stores must be returned within 7 days. Returnable items include defective, damaged, or misdescribed products, which must be in their original condition and packaging. Lazada promises faster refunds, with eligible customers receiving refunds immediately upon initiating the return process.

Source: Bernama

7. Dutch E-commerce Market Online Spending Grows 3% in Q1

On July 15, market research firm GfK released a report on the Dutch e-commerce market, showing that in the first quarter of this year, total online spending by Dutch consumers surpassed 9 billion euros, a 3% increase compared to the same period last year. As the cross-border e-commerce market thrives, more Dutch consumers are shopping online internationally. Concurrently, Dutch spending on cross-border goods, particularly from China, has surged, reaching 102 million euros, a staggering 75.9% increase from 58 million euros in the same period last year.

Source: E-commerce News

8. ONE Launches New Service Connecting Asia and Mexico

On July 15, ONE announced the launch of a new shuttle service, the Asia-Latin America Express 4 (ALX4), to meet the growing demand for cargo transportation from Asia to the west coast of Mexico. The service will commence with the vessel ONE Reputation, expected to arrive in Shanghai on August 16, 2024. The port rotation will be Shanghai (China) - Busan (Korea) - Lázaro Cárdenas (Mexico) - Shanghai (China). The ALX4 will complement the existing ALX1, ALX2, and ALX3 services, enhancing ONE's Asia-South America network.

Source: ONE

9. Maersk Updates PSS on C1E Trade Route

On July 15, Maersk announced the latest Peak Season Surcharge (PSS) for the C1E trade route, effective from the 15th. The revised charges are as follows:

Source: Maersk

10. Dimerco and Cathay Pacific Launch PVG-ORD Seasonal Charter Service

On July 15, it was reported that Dimerco Express Group, in collaboration with Cathay Pacific, will provide a weekly air freight charter service from Shanghai (PVG) to Chicago (ORD) using B747-800F aircraft from September to December to address capacity constraints during the peak season. The weekly flight from Shanghai to Chicago will operate from September 12 to December 5. The B747-800F aircraft will depart from Cathay Pacific, taking off from Shanghai International Airport every Thursday morning, stopping in Hong Kong, and arriving at O'Hare International Airport at 1:40 PM local time on Friday.

Source: Cross-border E-commerce Logistics Baixiao Network

11. Swiss WorldCargo Partners with WFS for Cargo Services

On July 15, it was announced that Swiss WorldCargo has signed a three-year cargo handling contract with Worldwide Flight Services (WFS) at Milan Malpensa Airport. WorldCargo uses narrow-body Airbus A320/321 and Embraer aircraft, operating 28 flights per week to Italian cities. WFS is expected to handle 2,000 tons of cargo annually at Milan Malpensa Airport.

Source: Global Air Cargo

12. China’s Goods Trade Import and Export Grow 6.1% in H1

On July 15, according to customs statistics, China’s total value of goods trade imports and exports in the first half of the year reached 21.17 trillion yuan, a 6.1% increase year-on-year (YOY). Of this, exports totaled 12.13 trillion yuan, up 6.9%, and imports totaled 9.04 trillion yuan, up 5.2%, resulting in a trade surplus of 3.09 trillion yuan, an increase of 12%. In US dollar terms, the total value of imports and exports in the first half was 2.98 trillion dollars, an increase of 2.9%. Exports were 1.71 trillion dollars, up 3.6%, and imports were 1.27 trillion dollars, up 2%, with a trade surplus of 435 billion dollars, an increase of 8.6%.

Source: Customs Release

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