Egypt reduces transit fees for the Suez Canal; A US court halts Trump's tariff policy; China pilots visa-free entry for citizens from four countries

A new route for going global, and North Africa hub adds more Chinese opportunities! Egypt has reduced the Suez Canal transit fee by 15% to attract shipping back; Algeria has officially joined the New Development Bank of BRICS countries after its expansion. From the adjustment of canal policies to multilateral financial cooperation and then to the output of digital culture, North Africa is integrating into the global economic, trade and cultural network with an open attitude, and its regional influence deserves continuous attention. The 2025 China-North Africa (Egypt) Bilateral Investment Themed Event will be held in Hangzhou on June 13th. The registration channel is attached in the article. Welcome to sign up and participate.

Let's read this week's news about going global and learn about the latest trends.

Egypt reduces Suez Canal transit fees to boost traffic volume

On May 15th, the Suez Canal Authority of Egypt issued a statement on the 13th, saying that it will offer a 15% discount on transit fees for large container ships starting from May 15th. This move aims to encourage shipping companies to return to the Suez Canal as the security situation in the Red Sea improves. Osama Rabie, the chairman of the Suez Canal Authority, said in the statement that the discount applies to container ships with a net tonnage of 130,000 tons or more and is valid for 90 days. The Suez Canal is crucial to Egypt's economy and international trade. Affected by the regional tension, the income of the Suez Canal in 2024 decreased by more than $6 billion compared with the previous year. (Jiemian News)

The New Development Bank of BRICS countries expands, and Algeria becomes a new member

On May 22nd, the New Development Bank of BRICS countries, headquartered in Shanghai, announced that Algeria has officially become a new member.

In 2021, the New Development Bank launched its expansion. So far, Bangladesh, Egypt, the United Arab Emirates and Algeria have become new official members of the bank. The New Development Bank is a multilateral development bank jointly established by Brazil, Russia, India, China and South Africa in 2015, aiming to mobilize resources for infrastructure and sustainable development projects in BRICS countries and other emerging market countries and developing countries. (Xinhua News Agency)

The Middle East and North Africa station of iQiyi is officially launched, accelerating the going global of Chinese-language content and the layout in the local market

On May 14th, the "Audiovisual China - LOVE Beijing Night and the Launch Ceremony of the Middle East and North Africa Station of iQiyi in 2025" was held in Dubai, announcing the official launch of the Middle East and North Africa station of iQiyi. It will penetrate into the Middle East and North Africa market, carry out the promotion of Chinese-language and diverse international content, local user service operations, the introduction and production of Arabic-language film and television content in China, etc. iQiyi's localized services in the Middle East and North Africa market will focus on the United Arab Emirates and Saudi Arabia and gradually cover the entire Arabic-speaking region. On May 11th, iQiyi officially signed a content cooperation agreement with WATCH IT, a leading media platform in the Middle East. The two sides will conduct in-depth cooperation in areas such as content distribution, localized operations and cultural communication to jointly explore the Middle East and North Africa market. (iQiyi)

The International Service Center for Chinese Enterprises will host the 2025 China-North Africa (Egypt) Bilateral Investment Themed Event on June 13th, 2025. The minister-counselor of the Consulate General of Egypt in Shanghai will be specially invited to interpret the official economic cooperation policies. At that time, several listed companies that have successfully gone global will communicate on-site with representatives of professional service providers about the industrial cooperation opportunities between China and Egypt.

Event time: June 13th, 2025

Event location: 2F, International Service Center for Chinese Enterprises (Building 2, Wisdom Valley, Jiangdong Avenue, Qiantang District, Hangzhou City)

Welcome to sign up

Enterprise representatives who are interested in participating in the event

Please fill in the registration questionnaire before 18:00 on June 12th, 2025

You can participate only after receiving the official invitation email from the organizer.

US court halts Trump's tariff policy

On May 28th, 2025, the United States Court of International Trade issued a judgment, declaring that the "fentanyl tariffs" and "global retaliatory tariffs" imposed by the Trump administration exceeded the president's authorization and were illegal and invalid. Administrative departments such as customs need to lift the corresponding tariff measures within 10 days (i.e., before June 7th, 2025). (Jimu News)

China Council for the Promotion of International Trade: Promoting practical economic and trade cooperation between China and Latin America, with an agreement amount exceeding $3 billion 

It was learned at the press conference of the Council for the Promotion of International Trade that since the beginning of this year, the Council for the Promotion of International Trade of China has taken multiple measures to promote the economic and trade cooperation between China and Latin American countries and achieved good results. Since the beginning of this year, the Council for the Promotion of International Trade of China has organized domestic entrepreneur delegations to visit Latin American countries such as Brazil, Chile and Cuba, and successfully signed cooperation agreements involving more than $3 billion. (CCTV News)

The deadline for tariff negotiations between the US and the EU is extended to July 9th

According to CCTV News, on the 25th local time, US President Trump said that the EU had requested to extend the deadline for tariff negotiations to July 9th, and he had agreed to this request. Trump said that the conversation with the EU on tariff issues was "very pleasant". Trump posted on social media on the 23rd that he suggested imposing a 50% tariff on goods from the EU starting from June 1st. He said that the main purpose of the EU's establishment was to "take advantage of the US in trade", and the negotiations between the US and the EU had "made no progress". Therefore, he suggested imposing a 50% tariff on goods from the EU starting from June 1st, 2025. Goods manufactured or produced in the US do not need to pay tariffs. (Yicai Global)

Shenzhen Stock Exchange: The ChiNext ETF is smoothly listed in Brazil

According to the Shenzhen Stock Exchange, on May 26th local time in Brazil, the ChiNext ETF issued by Brazilian asset management company Bradesco was successfully listed on the Brazilian Securities and Futures Exchange (hereinafter referred to as the Brazilian Exchange). The product invests in the "Huaxia ChiNext ETF" listed on the Shenzhen Stock Exchange in the form of a feeder fund. The successful launch of the product marks the official implementation of the ETF interconnection project between the Shenzhen and Brazilian exchanges, and the cooperation between the Chinese and Brazilian capital markets has entered a new stage. It is also a vivid footnote to the construction of a China-Brazil community with a shared future. (36Kr)

India announces: It has surpassed Japan to become the world's fourth-largest economy

The National Institution for Transforming India, a policy think tank supported by the Indian government, said that India has surpassed Japan to become the world's fourth-largest economy. Subrahmanyam, the CEO of the institution, said at a recent press conference that India's economic scale has grown to $4 trillion, second only to the US, China and Germany. (Caixin Lianxun)

Ministry of Foreign Affairs: China试行 visa-free policy for citizens of Saudi Arabia, Oman, Kuwait and Bahrain

Maoning, the spokesperson of the Ministry of Foreign Affairs, presided over a regular press conference. Maoning said that in order to further facilitate the exchanges between Chinese and foreign personnel, China has decided to expand the scope of visa-free countries. From June 9th, 2025 to June 8th, 2026, citizens of Saudi Arabia, Oman, Kuwait and Bahrain holding ordinary passports will be试行 visa-free entry. They can enter China for business, tourism, visiting relatives and friends, exchanges and transit for no more than 30 days without a visa. Coupled with the UAE and Qatar, the GCC member countries that have achieved mutual visa exemption with China since 2018, China has achieved full visa exemption for GCC countries. (Beijing Daily)

TEMU's overseas forward warehouse is put into use

On May 28th, it was reported that TEMU's overseas forward warehouse has been officially put into use. Before the implementation of T86, TEMU shipped a large number of popular products to the US forward warehouse by sea. A person familiar with the matter revealed that TEMU has stocked about three months' worth of fully managed goods in the US, which is a relatively large-scale local inventory. With these goods, combined with the Y2 model and X2 model, the fully managed business will not run out of goods, and it can also leave a buffer for various future changes. (Leifeng Wang)

Meituan: The international business has made breakthrough progress. Keeta has fully demonstrated its product strength and technological advantages in Saudi Arabia

Meituan released its financial report for the first quarter of 2025. The revenue of the new business segment increased by 19.2% year-on-year to RMB 22.2 billion, the operating loss narrowed by 17.5% year-on-year to RMB 2.3 billion, and the operating loss rate improved by 4.6 percentage points year-on-year to 10.2%. The international business has made breakthrough progress. Keeta has fully demonstrated its product strength and technological advantages in Saudi Arabia and won the favor of more and more local users with better food delivery services. Recently, Keeta announced that it will officially enter Brazil in the next few months.

AliExpress Germany opens to local sellers

AliExpress, the cross - border e - commerce platform under Alibaba, has opened to local sellers in Germany and launched an exclusive channel called Local+. Goods can be delivered in as fast as 3 days. According to internal sources, the German station of AliExpress has been growing rapidly recently, attracting a number of well - known brands to settle in early. Industry insiders analyzed that after the participation of local sellers, the price and logistics competitiveness of AliExpress will be significantly enhanced, posing a direct challenge to the local e - commerce landscape. (36Kr)

XPeng Robotics reaches a strategic cooperation with the Dubai Road and Transport Authority

On May 27th, XPeng Robotics announced that it had reached a strategic cooperation with the Dubai Road and Transport Authority (RTA) to deploy a Robotaxi fleet locally. According to the plan, this cooperation will be implemented in stages: the test operation will be launched in 2025, and the fully unmanned commercial operation will be promoted in 2026, achieving seamless connection with various transportation networks in Dubai such as the subway, tram and sea routes. (36Kr)

WeRide enters the Saudi Arabian market

On May 27th, WeRide, an autonomous driving technology company, announced its market expansion strategy in Saudi Arabia, marking the further expansion of the company's global commercial map. As the first step to enter the Saudi Arabian market, WeRide has tested and deployed autonomous driving products such as Robotaxi, Robobus and Robosweeper in key Saudi Arabian cities such as Riyadh and AlUla, laying a foundation for the company's large - scale commercial operation across Saudi Arabia in the future. (36Kr)

Kuaishou releases its Q1 2025 financial report, and the overseas business achieves positive quarterly operating profit

According to Kuaishou's financial report for the first quarter of 2025, the commercialization and monetization of Keling AI have accelerated, and the revenue of Keling AI in the first quarter exceeded RMB 150 million; the overall overseas revenue increased by 32.7% year - on - year to RMB 1.3 billion, and the overseas business achieved positive quarterly operating profit for the first time at the overall level. (36Kr)

The General Office of the CPC Central Committee and the General Office of the State Council: By 2035, the modern enterprise system with Chinese characteristics will be more perfect, and the international competitiveness of enterprises will be comprehensively improved

The General Office of the CPC Central Committee and the General Office of the State Council issued the "Opinions on Improving the Modern Enterprise System with Chinese Characteristics". The main goal is: in about five years, promote enterprises with the conditions to generally establish a modern enterprise system with Chinese characteristics that suits the national conditions, meets the actual situation and meets the development needs. The Party building in enterprises will be comprehensively strengthened, the governance structure will be more sound, the market - oriented operation mechanism will be more perfect, the scientific management level will be further improved, and the roles of promoting independent innovation, supporting industrial upgrading and fulfilling social responsibilities will be fully played. By 2035, the modern enterprise system with Chinese characteristics will be more perfect, the international competitiveness of enterprises will be comprehensively improved, laying a solid foundation for accelerating the construction of world - class enterprises. (Xinhua News Agency)

Zhejiang: Strongly support the transformation of consumer goods exports to domestic sales

On May 27th, it was reported that Zhejiang drafted the "Implementation Opinions on Further Strengthening the Linkage between Industry and Trade to Support Enterprises in Maintaining Stable Production, Reducing Burdens and Increasing Efficiency (Draft for Public Comment)" and solicited public opinions. It mentioned that it strongly supports the transformation of consumer goods exports to domestic sales. Accelerate the conversion of domestic and foreign standards for export products, improve the certification system for mandatory products (CCC certification), and open a green channel for certification to simplify the certification process.

Cooperate with various channels such as live - streaming platforms, e - commerce, highway service areas, offline supermarkets, exhibitions and fairs to set up special areas for Zhejiang - made high - quality products for the transformation from exports to domestic sales. Encourage preferential reduction or exemption of relevant fees such as traffic fees, booth fees and rents. Promote foreign - trade high - quality products to be included in the scope of the "trade - in" policy for consumer goods. Actively organize foreign - trade enterprises to participate in the "China Tour of Foreign - Trade High - Quality Products" activities held by the state and our province, and promote the "immediate refund" service for tax - free shopping for overseas tourists. (TMTpost)

Chinese intelligent assisted driving enterprises explore diversified models for going global

Since the beginning of this year, Chinese intelligent assisted driving enterprises have accelerated their pace of going global. Especially in May, Momenta, XPeng Robotics and WeRide have successively reached strategic cooperation with global travel giant Uber, setting off a wave of going global for Chinese intelligent assisted driving technologies and products. Some interviewed experts said that leading Chinese intelligent assisted driving enterprises have formed mature and globally competitive technological solutions in areas such as map - free technology and vehicle - road cooperation. Accelerating the pace of going global will help empower the ecological construction of overseas markets in the field of intelligent transportation such as intelligent assisted driving. At the same time, going global also provides intelligent assisted driving enterprises with more profitable business growth space. However, they need to avoid simply replicating the domestic model and should build a sustainable ecosystem according to local needs to enhance the global influence of the Chinese automobile industry. (China Securities Journal)

Li Shufu of Geely: Don't blindly build production capacity in the overseas automobile stock market

The global trade system has undergone profound changes, and Geely must adopt different strategies in different markets. Geely Holding Group Chairman Li Shufu made the above remarks during an internal speech in the company recently. He also said that in the overseas stock market, Geely should cooperate with multinational automobile enterprises in production capacity as much as possible and avoid large - scale and blind construction of production capacity. (Caixin.com)

The surge in shipment volume drives up freight rates, and foreign - trade enterprises are more cautious in accepting new orders

Since the mutual reduction of Sino - US tariffs two weeks ago, the backlogged orders of Chinese foreign - trade enterprises have been shipped out at an accelerated pace. It was learned from multiple investigations recently that since May 12th, the booking volume for US routes has continued to surge, and the fierce competition for shipping space has led to a non - linear increase in freight rates. As of now, the shipping space for the end of May has been basically sold out, and the freight rate has increased by more than 40%. The current container shipping market shows a situation of supply - demand game. The freight forwarding industry expects that the freight rate will only rise and not fall within 90 days. Foreign - trade enterprises hope that the freight rate will be adjusted down after the shipping capacity recovers in June. With the soaring freight rates, on the one hand, shipowners are urgently allocating shipping capacity to support US routes. On the other hand, some foreign - trade enterprises have actively slowed down the pace of accepting orders due to uncertainties. (Securities Times)

This article is from the WeChat official account "Hangzhou Qiantang Enterprise Going - Global Service Base", author: Zhejiang Enterprises Going Global. It is published with authorization from Qiantang.