Core Viewpoint - The article discusses the significant impact of increased tariffs on container shipping demand between China and the United States, leading to a sharp decline in import volumes and potential disruptions in logistics networks [1][3][5]. Group 1: Impact of Tariffs - The U.S. container import volume has decreased by 30% compared to the same period last year due to the impact of increased tariffs on Chinese goods [1][3]. - Following the implementation of a 145% tariff on Chinese goods, shipping bookings for Chinese products have been canceled, with a reported 30-40% decrease in container transport volume between China and the U.S. in April [3][4]. - A forecast predicts that container arrivals from China to the U.S. will drop by 60% during the week of June 9-15 compared to the previous year [3]. Group 2: Shipping Demand and Freight Rates - The shipping industry is transitioning from a phase of ensuring inventory through last-minute shipments to one of releasing backlogged inventory [4]. - Despite a sharp decline in shipping demand, spot freight rates for container shipping remain strong, with rates from Shanghai to the U.S. West Coast rising to $2,272 per 40-foot container, a 6% increase from the previous week [4]. - Shipping companies are adjusting supply by canceling scheduled routes and using smaller vessels, which has positively impacted freight rates [4]. Group 3: Future Outlook - With the recent reduction of tariffs from 145% to 30%, there are expectations for a recovery in cargo transport; however, the time required to restore shipping capacity may lead to space shortages if cargo volumes surge [5].

奥林巴斯在中国国际进口博览会上的展示 奥林巴斯预计2025财年的合并销售额将微增至9990亿日元，但中国业务连续两年减收…… 5月13日，奥林巴斯宣布，预计2025财年（截至2026年3月）的合并销售额（国际会计标准）将同比微增 至9990亿日元。这是奥林巴斯自整合业务专注于医疗设备以来的最高水平，但要实现这一目标必须重建 面临困境的中国业务。在日元升值和中美贸易对立的逆风中，新任首席执行官鲍勃·怀特 (Bob White)将 加快重建进程。 奥林巴斯正在加紧应对。由于中国政府提出优先国产的政策，奥林巴斯计划在2026年3月财年内，在中 国江苏省苏州市启动内窥镜组装工厂的运营，也将继续致力于培养内窥镜相关的医生人才。 即将于6月就任总裁兼首席执行官（CEO）的怀特将亲自领导这一改革。奥林巴斯董事长兼社长竹内康 雄在13日表示："他应能为公司的进一步全球化作出贡献"。外界关注怀特将如何着手重振中国业务，他 在亚洲市场的经验也将面临考验。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 日经中文网 https://cn.nikkei.com 奥林巴斯曾涉足相机、显微镜、信息通信等领域，2 ...

中国对美国产LNG的进口实际上处于停止状态（REUTERS） JOGMEC的数据显示，2025年1～3月，中国国内天然气产量同比增长4.3%，达到659.7亿立方米；煤炭 产量同比增长8.1%，达到12.026亿吨；经由连接俄罗斯和中亚的管道的天然气进口同比增长6.9%，达到 1390万吨。 另一方面，中国的LNG总进口量在1～4月同比大幅减少24%。国际能源署（IEA）的天然气分析师白川 裕指出，"国内能源产量的增加，叠加世界经济衰退风险导致的需求减少，中国2025年的LNG年进口量 有可能比最初预期下降500万吨（6%）以上"。 中国似乎拒绝进口签订长期合同的美国产LNG，而是将其转售到欧洲等其他市场。Kpler的数据显示， 欧盟（EU）27个国家对美国产LNG的进口量急剧增加，4月达到538万吨，比去年同期增长38%，创出 历史新高。 中国增加转售导致天然气行情上涨乏力。作为英国LSEG计算的欧洲天然气指标，荷兰TTF（次月交 割）在4月底一度下跌至每兆瓦时约31欧元，创出约9个月来的新低。目前也在35欧元左右，比2月的年 初以来新高下跌4成。 不过，如果中国对美国产LNG的回避成为常态，从中长期来看也 ...

Core Viewpoint - Japan's Ministry of Finance has requested the Chinese government to relax capital controls, aiming to increase the Qualified Domestic Institutional Investor (QDII) investment quota, which would facilitate more funds flowing into Japanese stock ETFs [1][2][3]. Group 1: Background and Context - The request from Japan was prompted by the temporary suspension of trading for the "Huaxia Nomura Nikkei 225 ETF" in January 2024, which highlighted the popularity of Japanese stocks among Chinese investors [2]. - China's trade surplus reached a record high of $992.1 billion in 2024, significantly exceeding the levels seen when China joined the WTO, indicating an excess of funds within China due to a lack of attractive domestic investment opportunities [3]. Group 2: Economic Implications - The Japanese Ministry of Finance anticipates that expanding the QDII quota will lead to increased investment in Japanese stock ETFs, which are considered to have lower economic security risks compared to direct investments in land or corporate acquisitions [2]. - The ongoing decline in China's economic growth rate and the aging population suggest that increasing overseas investments is a natural choice for enhancing household savings [3]. Group 3: Challenges and Considerations - There are concerns regarding potential capital outflows and the depreciation of the Renminbi, as seen during the capital flight crisis in 2015-2016, which may lead to cautious evaluations regarding the expansion of the QDII quota [3].

Core Viewpoint - Terumo, a Japanese medical device manufacturer, is acquiring a German factory from WuXi Biologics for €150 million, aiming to establish its first overseas CDMO base and target large pharmaceutical orders in Europe by 2030 [1]. Group 1: Acquisition Details - The acquisition amount is €150 million, and the factory covers an area of 13,000 square meters [1]. - Approximately 150 employees will transition to Terumo following the acquisition [1]. - The factory is expected to produce pre-filled syringes, although the production capacity has not been disclosed [1]. Group 2: Strategic Goals - Terumo aims to leverage the German factory as a foothold for expanding its overseas operations, particularly targeting major pharmaceutical companies headquartered in Europe, such as Roche and Novartis [1]. - The company is actively developing its CDMO business to provide integrated solutions for drug-compatible containers and delivery devices [1]. - Terumo plans to enhance the production capacity of its Kofu factory in Yamanashi Prefecture within the fiscal year ending March 2025 [1]. Group 3: Market Position - Currently, Terumo's primary clients are domestic pharmaceutical companies in Japan, but it has secured its first overseas order in 2024 [1].

4月，受美国大幅上调对华关税的影响，人民币对美元汇率一度跌至1美元兑换7.35元以上，创下17年来 的低点。目前已经比这一水平上涨约2％，人民币贬值压力较之前有所缓解…… 在5月13日的上海外汇市场上，人民币对美元汇率一度升至1美元兑7.185元，创下2024年11月以后半年 来的人民币升值、美元贬值水平。中美两国政府就相互征收的额外关税下调115％达成一致。由于市场 认为中国经济的下行风险减弱，回购人民币的动向十分明显。 5月13日，上海股票市场也小幅连续上涨，上海综合指数报收于3374.8707点，创下两个月以来的新高。 SMBC日兴证券的高级中国策略师Jeremy Yeo表示，由于中美达成协议，"投资者暂时普遍感到安心"。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 日经中文网 https://cn.nikkei.com 在中美两国政府宣布下调额外关税之前，人民币汇率徘徊在1美元兑7.215至7.219元的水平。 5月12 日相关消息公布后，汇率水平逐步升高，当晚的夜间交易以1美元兑换7.2075元收盘。 在5月13日的 日间交易中，人民币仍延续升值趋势。 4月，受美国大幅 ...

Group 1 - The trend of phasing out coal power in developed countries is wavering due to the increasing electricity demand driven by the proliferation of AI [1][2] - The U.S. government, under President Trump, has signed measures to revitalize the coal industry, allowing the extension of the operational lifespan of coal-fired power plants originally slated for closure [1][2] - The International Energy Agency (IEA) predicts that electricity consumption from data centers will more than double by 2030 compared to 2024, with renewable energy expected to account for nearly 50% of the demand increase [2][3] Group 2 - In Japan, coal-fired power generation accounts for about 30% of the total power generation in the fiscal year 2023, and the country faces challenges in phasing out coal power as per the G7 agreement [2][3] - New technologies such as Ultra-Supercritical (USC) and Integrated Gasification Combined Cycle (IGCC) are being developed to reduce emissions while still utilizing coal [3] - The challenge of balancing energy security, affordable supply, and environmental protection remains significant for coal-fired power generation [4]

日产社长伊万·埃斯皮诺萨（Ivan Espinosa）在横滨总部召开记者会（5月13日） 美国对进口汽车的关税政策使汽车产业等的前景变得不明朗。这给日产的重建计划也带来了沉重的压 力。日产预计，从墨西哥出口（约30万辆）和从日本出口（约12万辆）的汽车将受到影响，全年营业利 润最高将受到4500亿日元的负面影响。 5月13日，4月刚刚上任的社长伊万·埃斯皮诺萨（Ivan Espinosa）在横滨市的总部召开记者会，表示一系 列结构改革的计划是"非常悲伤和痛苦的艰难决定"。 日产预计2024财年（截至2025年3月）汽车业务的纯现金收支将减少2428亿日元。尽管截至3月底，日产 的净现金流为1.4984万亿日元，但伴随美国关税影响和重组费用增加。日产还迫切需要推进结构改革， 以确保运营资金。 日产计划在2026财年（2027年3月）之前将成本削减至比2024财年减少5000亿日元。比原计划多削减 1000亿日元。2024财年（2025年3月）的汽车业务亏损2159亿日元，但日产表示要在2026财年实现盈 利。此外，日产还计划通过一系列工厂调整措施，将除中国以外的工厂开工率从2024财年的70%到2027 财年提 ...

Group 1 - The Trump administration has announced the withdrawal of the AI semiconductor export control plan established by the previous administration, which limited exports to China, Russia, and certain Middle Eastern and Southeast Asian countries [1][2] - The previous plan categorized trade partner countries into three tiers, with Tier 1 countries like Japan facing no restrictions on the export of advanced semiconductors and AI foundational models, while Tier 2 countries, including many Middle Eastern nations, faced certain limitations [1][2] - The decision to withdraw the export controls is influenced by the desire to maintain good diplomatic relations with Middle Eastern countries, as indicated by the opposition from nations like Saudi Arabia and the UAE [1][2] Group 2 - The U.S. Department of Commerce is expected to announce a replacement plan, which may involve the elimination of the tiered classification system [2] - American companies, including Oracle and Nvidia, have expressed concerns about the previous export control plan, indicating that it could hinder their business operations and competitiveness [2] - Jeffrey Kessler, Deputy Assistant Secretary of the U.S. Department of Commerce, emphasized the importance of ensuring that U.S. AI technology does not fall into the hands of hostile nations while pursuing strategic partnerships with trustworthy countries [2]

自可追溯公开数据的2018年10~12月以来，按季度计算首次出现最终亏损。受美国对华出口管制的影 响，华为自主开发半导体和操作系统，成本负担可能正在增加…… 华为技术2024年10~12月的最终损益为亏损约4亿元。受美国对华出口管制的影响，该公司自主开发了 用于人工智能（AI）等的半导体、智能手机和个人电脑的操作系统，成本负担可能正在增加。 日本经济新闻（中文版：日经中文网）根据华为最近披露的截至2024年12月的财报数据进行了计算。 10~12月的营业收入为2639亿元，比上年同期增长约8%。自可追溯公开数据的2018年10~12月以来，按 季度计算首次出现最终亏损。对于原因，华为未对日经的询问进行回应。 原因之一可能是半导体研发和生产成本的增加。美国政府限制向中国出口美国英伟达等的尖端AI半导 体，为向中国大陆企业提供替代品，华为一直在采取应对措施。 据悉，由于美国政府的制裁措施，华为被禁止与芯片代工厂商台积电（TSMC）进行交易，因此将生产 委托给良品率相对较低的大陆企业。智能手机和个人电脑上安装的操作系统也因无法使用美国谷歌和美 国微软的操作系统而转向自主研发。 版权声明：日本经济新闻社版权所有，未经 ...