Mozambique Economic Report on November 17th: According to data released by the National Institute of Statistics (INE) on the 17th, Mozambique's Gross Domestic Product (GDP) grew by 5.92% in the third quarter of 2023, accumulating a 4.9% growth since the beginning of the year. In particular, the GDP of the primary sector increased by 12.9%, with the mining industry making the largest contribution, followed by agriculture, livestock, and forestry. The Central Bank of Mozambique stated that the accelerated economic growth in Mozambique is further boosted by the increased production of liquefied natural gas, contributing 45% to its economic growth.

On November 23rd, the Central Bank of Turkey announced that it would raise the benchmark interest rate by 500 basis points from 35% to 40%.

"The Chinese economy is set to achieve the government's growth target for 2023, reflecting a robust recovery post the COVID-19 pandemic." The International Monetary Fund (IMF) announced on the 7th that it predicts China's GDP to grow by 5.4% in 2023. This marks a significant upward revision of 0.4 percentage points from the IMF's October forecast of 5% for China's economy. IMF First Deputy Managing Director Gopinath stated, "China's economy performed better than expected in the third quarter, and recent government measures to stimulate growth have led to an upward adjustment in the forecast for China's economic growth."

The BRICS countries include China, Russia, India, Brazil, and South Africa. After more than a decade of development, the foundation of cooperation among the BRICS countries is increasingly solid, with its scope gradually expanding, and the collaborative achievements are becoming more fruitful. The BRICS cooperation mechanism has gained wide recognition and support from the international community, with an increasing number of like-minded partners hoping to participate. According to Russian media reports, Russian Deputy Foreign Minister Ryabkov stated that the number of countries applying to join the BRICS is continuously increasing, and there are currently nearly 20 countries expressing interest.

On October 17th, the Minister of Commerce of China, Wang Wentao, and the Minister of Internal and Foreign Trade of Serbia, Momčilović, representing their respective governments, signed the "Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Serbia."

According to statistics from Tianjin Customs, as of the end of May 2023, more than 5,200 used cars were exported from the Tianjin port, showing a year-on-year growth of over sixfold, indicating preliminary achievement of scale development.

They fall within the diameter range of 1 inch (25.4 millimeters) to 3.5 inches, as well as between 4 inches and 6.25 inches (158.75 millimeters). These carbon steel grinding balls may contain alloy components and are classified under the TIGIE tax code 7326.11.03.

Recently, the exchange rate of the Chinese yuan against the US dollar has seen a slight decline. On September 20th, Zou Lan, Director-General of the Monetary Policy Department of the People's Bank of China, stated that the yuan's exchange rate against the US dollar is indeed crucial, but it does not represent the entirety of the yuan's exchange rate. It is important to pay greater attention to the fluctuations in the yuan's exchange rate against a basket of currencies.

On September 14th local time, the Bulgarian Parliament agreed to lift the import ban on Ukrainian grains starting from September 15th. Therefore, Bulgaria will take a stance against extending the embargo within the European Union.

The CBAM mechanism will initially mainly apply to industries such as cement, steel, aluminum, fertilizer, power, and hydrogen because the production of these goods is carbon-intensive and has the highest risk of carbon leakage. As the coverage scope is expanded, the CBAM will ultimately (in a comprehensive and gradual implementation) capture over 50% of emissions from covered sectors in the EU Emissions Trading System (ETS).