1.Jiacheng International Establishes Three Overseas Subsidiaries

On November 27, Jiacheng International announced the establishment of three wholly-owned overseas subsidiaries in Singapore, Thailand, and Vietnam. These subsidiaries will primarily handle cross-border e-commerce logistics services, overseas warehousing, and other related businesses. The registered capital for the Singapore company is RMB 20 million, while the Thai and Vietnamese companies are each set at RMB 10 million. These subsidiaries will focus on services such as cross-border e-commerce logistics, overseas warehousing, building logistics parks, local customs clearance, last-mile delivery, smart warehousing, aircraft leasing, air cargo transport, international shipping, freight forwarding, large-item logistics, home appliance delivery, installation, after-sales service, domestic and international trade, transshipment, and offshore trading.  

Source: Caizhong News

2. Latest Top 100 Chinese Freight Forwarders, Top 50 in Sea and Air Freight Released  

On November 27, the China International Freight Forwarders Association (CIFA) released the latest list of the "Top 100 Chinese Freight Forwarders" and the top 50 companies in the sea and air freight sectors.  

Top 100 Chinese Freight Forwarders: Based on total annual revenue, China National Foreign Trade Transportation (Sinotrans) ranked first, followed by COSCO Shipping Logistics Supply Chain Co., Ltd., with China Railway International Multimodal Transport Co., Ltd. in third place.  

Top 50 Sea Freight Forwarders: Sinotrans and COSCO Shipping topped the rankings based on sea freight revenue, with CIMC SSCL in third place.  

-Top 50 Air Freight Forwarders: Sinotrans Air ranked first, followed by Apex Logistics (China), and DHL (China) in third place.  

Source: China International Freight Forwarders Association

3.Cainiao Launches Largest Air Cargo Terminal in Hong Kong

On November 27, Cainiao unveiled its eHub in Hong Kong, a smart hub spanning an area equivalent to 54 football fields, making it the largest air cargo terminal in Hong Kong. Cainiao's accelerated overseas infrastructure development is driving the rise of a global express delivery network.  

The eHub (Digital Trade Hub) is a key part of Cainiao's global strategy, enhancing the connectivity of its logistics network and increasing control over the global supply chain. Cainiao’s high-efficiency eHub enables its “Global 5-Day Delivery” service, covering 14 countries across Europe, America, and Asia, significantly improving cross-border logistics efficiency.  

Source: Beijing Business Today

4. Lege Corp Sells Self-owned Cargo Ship

On November 27, Ningbo-listed company Lege Corp announced the sale of its cargo ship, “Lecangs Dolphin”, which it built in 2022, for $31-33 million to Greek shipowner Minerva Marine. The new owner renamed the vessel “Little Dolphin”and leased it to T.S. Lines for $25,000 per day for six months. According to Marine Traffic, “Little Dolphin”set sail from the Philippines on November 25 and arrived at Xiamen Port in China on the evening of November 27 to complete its cargo delivery.  

Source: Xueqiu

5.JD.com Plans to Invest 300-600 Million Yuan to Increase Stake in Deppon

On November 27, Deppon announced that its indirect controlling shareholder, JD Zhufeng, plans to increase its stake in the company through centralized bidding, with an intended investment of no less than RMB 300 million and up to RMB 600 million. The stake increase plan will be implemented within 12 months from the date of the announcement, without changing the controlling shareholder or actual controller of the company.  

Source: Deppon Logistics

6.Trump Threatens to Impose 10% Tariff on Chinese Imports

On November 27, U.S. President-elect Donald Trump claimed on his social media account that he would impose a 10% tariff on all goods imported from China. A spokesperson for the Chinese Embassy in the U.S. responded that China-U.S. economic and trade cooperation is mutually beneficial and that no one wins in a trade or tariff war.  

Source: CCTV News

7.Shopee Named Most Profitable Platform by Indonesian Sellers

On November 27, Snapcart released a study on local brands and SMEs in Indonesia, revealing their preferences for e-commerce platforms. Shopee was rated by 71% of sellers as the platform that brings the most sales profit. Shopee also performed well in providing an overall sales experience, receiving over 70% satisfaction in key support areas such as campaign planning, product categories, payment methods, and delivery service options, making it the top choice for SMEs and local brands.  

Source: Snapcart

8. TikTok Shop Set to Launch in Spain

On November 27, it was announced that TikTok Shop will officially launch its e-commerce site in Spain on December 9. Over 500 merchants have already joined, with about 300,000 SKUs available. According to TikTok officials and TK Watch, the site will initially operate in a fully managed model, with cross-border options expected to open by March next year. This launch is set to have a significant impact on Spain's e-commerce market.  

Source: TK Watch

9.Shenzhen Sellers Receive Cross-Border E-Commerce Subsidies

On November 27, the Shenzhen Bureau of Commerce announced a total reward of RMB 29 million in 2024 central funds to support cross-border e-commerce companies in market development. Among the 23 companies selected for independent site projects, each will receive RMB 1 million. Four companies were selected for public overseas warehouse projects, with Aoji Technology and Yuanrong Huitong's overseas warehouses receiving RMB 1.5 million each.  

Source: Shenzhen Bureau of Commerce

10.This Airport Becomes a Key Hub for Chinese E-Commerce Goods to Europe

On November 27, Liszt Ferenc International Airport was highlighted as one of Europe's busiest cargo transport and customs clearance hubs, handling over 95% of its e-commerce shipments from China. Most of these packages are distributed to other European countries rather than staying in Hungary. The Ferihegy cargo terminal has become the largest distribution center for Chinese packages in Central and Eastern Europe, handling parcels from platforms such as Temu, SHEIN, and AliExpress.  

Source: National Postal Service

11. Kashgar-Bishkek Cargo Flight Route Opens

On November 27, Caledonian Airways launched a new cargo route between Kashgar, China, and Bishkek, Kyrgyzstan, operated by an IL-76 freighter. This is Kashgar Laining International Airport's third international cargo route of the year, building an "air bridge" for trade between the two regions. Since 2019, the airport has opened nine international cargo routes, including to Pakistan, Hungary, Belgium, Germany, Russia, and the UK.  

Source: China Civil Aviation Network

12. Maersk Adjusts Asia Route Surcharges

On November 27, Maersk announced adjustments to surcharges on its Asia routes. For dry and reefer containers departing from select Chinese ports (including Shanghai, Ningbo, Xiamen, Fuzhou, and the Yangtze region) and heading to Sihanoukville, Cambodia, Maersk will charge a peak season surcharge (PSS) of $500 per container, effective December 6.  

Source: Maersk

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