1. China Foreign Trade Plans to Repurchase No Less Than 271 Million Yuan

On October 18, China Foreign Trade announced it intends to use its own or raised funds of no less than 271 million yuan (inclusive) and up to 542 million yuan (inclusive) to repurchase the company's issued ordinary shares (A-shares) through centralized bidding. All repurchased shares will be canceled, reducing the company’s registered capital. The maximum repurchase price is set at 7.43 yuan per share.  

Source: China Foreign Trade

2. Zhongchuang Logistics to Sign Investment Agreement with MEDLOG S.A.

On October 18, Zhongchuang Logistics announced plans to sign an investment agreement with MEDLOG S.A., a wholly-owned subsidiary of Mediterranean Shipping Company. According to the agreement, Zhongchuang Logistics will transfer its 100% stake in Zhongchuang Tianjin, 90% stake in Shanghai Zhiling, and 50% stake in Ningbo Meishan Yuanda to a wholly-owned subsidiary. MEDLOG S.A. will then increase capital in this subsidiary by 219 million yuan, resulting in both MEDLOG S.A. and Zhongchuang Logistics holding 50% equity in the platform company.  

Source: Zhongchuang Logistics

3. DHL Launches Supply Chain Services

On October 18, DHL announced the establishment of DHL Supply Chain in the United Arab Emirates to provide end-to-end supply chain solutions. This company has transitioned from DHL Global Forwarding and will offer integrated contract logistics services alongside cross-border transportation and freight forwarding. DHL Supply Chain will meet the warehousing, fulfillment, and after-sales service needs of customers in various sectors, including technology, automotive, aviation, energy, engineering and manufacturing, e-commerce, and fashion and luxury goods.  

Source: DHL

4. Huakai Yibai Fully Transforms into Cross-Border E-commerce

On October 18, Shenzhen cross-border e-commerce giant Huakai Yibai announced a significant equity adjustment. Original personal shareholder Luo Ye and shareholders Hu Fanjin and Zhuang Junchao signed a share transfer agreement. Luo Ye will transfer part of his equity to Hu Fanjin (5.75%) and Zhuang Junchao (5.91%), with a total transaction amount of 481 million yuan. After the transaction is completed, the company will have no controlling shareholder or actual controller, and its strategic direction will fully adjust to cross-border e-commerce. In the first half of 2024, Huakai Yibai achieved revenue of 3.519 billion yuan, with a net profit of 135 million yuan, completing over 18.42 million orders through 868 Amazon stores.  

Source: Huakai Yibai

5. "Double Cargo Aviation" Supports Zhengzhou Airport's Freight Breakthrough

On October 18, with flight GI4383 taking off from Zhengzhou Airport carrying 97 tons of cargo to Budapest, Zhongyuan Longhao Airlines has achieved a freight volume of over 100,000 tons this year, becoming the second airline to surpass this milestone at Zhengzhou Airport after Luxembourg Cargo. The airport's cargo handling capability has been further highlighted. As of October 16, Zhengzhou Airport's cumulative freight volume this year reached 611,000 tons, a year-on-year increase of 34.8%, exceeding last year's total volume more than two months ahead of schedule.

6. New "Aerial Silk Road" Corridor Added in Henan  

On October 18, a Central Asia Airways cargo plane flew from Zhengzhou Xinzheng International Airport carrying 45 tons of cross-border e-commerce goods to Tashkent, Uzbekistan, before proceeding to Liège, Belgium. This marks the successful launch of the "Zhengzhou-Tashkent-Liège" cross-border e-commerce cargo route, primarily transporting fashion apparel, household items, and festive products. The route will operate four flights a week, providing air transport capacity of over 200 tons weekly.  

Source: CCTV News

7. United Cargo Revenue Exceeds 1 Billion USD

On October 18, United Airlines reported a 12% growth in cargo revenue for the first nine months of 2024, reaching 1.22 billion USD, compared to 1.09 billion USD during the same period last year. In the third quarter ending September 30, cargo revenue grew by 25% to 417 million USD. Cargo revenue ton-miles increased by 16% to 2.6 billion ton-miles for the first nine months, while the third quarter saw a 15% increase, reaching 881 million ton-miles.  

Source: STAT Times

8. Shopee Philippines Updates Chat Metrics

On October 18, Shopee Philippines improved its chat metrics to maintain seller customer service standards. The chat response time (CRT) has been renamed to first response time (FRT), and a new average response time (ART) metric has been added. FRT measures the average time for sellers to respond to buyers' messages for the first time, while ART measures the average time for all message replies.  

Source: Shopee Philippines

9. Google Launches First Cross-Border E-commerce Acceleration Center in Xiamen  

On October 18, Google officially opened its first cross-border e-commerce acceleration center in the Xiamen Free Trade Zone. The center focuses on addressing the challenges faced by independent sellers, such as difficulties in starting up, recruiting talent, and operating internationally. It will provide one-stop incubation services to support overseas companies in accelerating their cross-border e-commerce business development.  

Source: Xiamen Daily

10. DP World Announces Investment to Build UK’s Largest Container Port 

On October 18, global port operator DP World is moving forward with a plan to invest approximately £1 billion (approximately $1.3 billion) over the next five years to expand the London Gateway into the UK's largest container port. DP World stated that the construction of two new shipping berths will enhance the port's capacity, enabling it to accommodate a total of six of the world's largest container ships. The expansion is expected to significantly increase the port's trade volume, which currently handles nearly 2 million TEU annually. The total investment by DP World at London Gateway is projected to exceed £3 billion (approximately $3.9 billion), making it one of the UK's largest and most important logistics hubs.  

Source: Yihangyun

11. CMA CGM Opens New Southeast Asia Route

On October 18, CMA CGM announced the launch of a new CT8 route, set to commence its maiden voyage from Shanghai on November 16, with a port call sequence of Shanghai, Ningbo, Laem Chabang, Haiphong, Yangpu, and back to Shanghai. The CT8 route enhances capacity from Central China to Thailand, effectively meeting growing trade demands. It includes multiple cutoff times each week for the Laem Chabang to Haiphong segment, providing customers with flexible transport arrangements and ensuring timely deliveries.  

Source: China Shipping Weekly

12. WTO Forecasts 7.4% Growth in Asian Exports for 2024  

On October 18, the WTO raised its forecast for world merchandise trade growth in 2024 from 2.6% to 2.7% in its October "Global Trade Outlook and Statistics." The forecast for world merchandise trade in 2025 was lowered from 3.3% to 3%. While Europe's demand for traded goods has fallen short of expectations, demand from Asia is stronger than anticipated. The WTO expects Asian exports to grow by 7.4% this year, surpassing expected export growth rates for the Middle East (4.7%), South America (4.6%), Africa (2.5%), and North America (2.1%). Exports from Europe are projected to decline by 1.4%. The growth in Asian exports is mainly driven by increased exports of electronics, automotive products, and other manufactured goods from China.  

Source: People’s Daily

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Public Account: Cross-Border E-commerce Logistics Baixiaosheng