Core Viewpoint - The Chinese Ministry of Commerce has decided to continue imposing anti-dumping duties on polyphenylene sulfide products originating from the United States, Japan, South Korea, and Malaysia, significantly raising the barriers for U.S. products entering the Chinese market [1][3]. Group 1: Impact on Domestic Industry - The anti-dumping measures are a response to the abnormal influx of these products at unusually low prices, which disrupts normal market competition and leads to harmful price suppression [3]. - Domestic companies are currently under significant pressure due to technological challenges and financial constraints, making it difficult for them to endure prolonged price wars [3]. - The demand for polyphenylene sulfide is increasing in various sectors, including new energy vehicles and electronics, necessitating stable pricing and supply chains to support industry growth [3][9]. Group 2: International Trade Dynamics - The U.S. has imposed a 40% tariff on goods routed through third countries to evade tariffs, which is seen as creating trade barriers rather than promoting fair competition [5]. - China’s investigation into Malaysia indicates a willingness to take necessary measures against actions that harm its interests, emphasizing the need for mutual respect and adherence to rules in trade [5][7]. - The ongoing trade tensions highlight a divergence in approaches, with China focusing on maintaining market order within existing frameworks, while the U.S. relies on tariffs and conditions to exert pressure [7]. Group 3: Market Confidence and Recovery - The certainty brought by the anti-dumping policy has led to a return of orders and increased confidence among domestic enterprises, prompting many projects to move from research to implementation stages [9]. - The local production capabilities for materials are expected to stabilize prices and ensure orderly supply, which will positively impact downstream industries [9]. - The adjustment of tax measures is viewed as a reinforcement of manufacturing infrastructure, providing a model for other countries to protect their interests while maintaining international order [9].

我国对进口自日本的聚苯硫醚征收反倾销税，美国韩国马来西亚的同类产品也在征收范围，只是税率不一样，这不是因为日本首相近期的错误言论，而是 早就实施的措施。 这项聚苯硫醚是高性能化工产品，能用于汽车电子等多个领域，最早从二零二零年十二月一日起，针对这四个国家的反倾销税就开始征收了，之后二零二 一年十月和二零二二年十月又延续实施，只是调整了部分涉事企业。 对日本的综合反制措施不止这一项，会针对其优势产业持续施压，只要日本不改正错误，反制就不会停，聚苯硫醚的反倾销税也大概率会继续延长。 日本有六家主要企业被单独定率，最高的住友电木株式会社达百分之三十四点五，其他日本企业统一按百分之六十九点一征收，美国企业税率最高，部分 达百分之二百二十点九，韩国和马来西亚企业税率相对较低。 日本涉事企业多，是因为它在聚苯硫醚领域发展早，产业领先，多家企业年产能排在全球前列，单家最高能接近三万八千吨。 我国相关企业也在崛起，浙江新和成是国内龙头，年产能约二万二千吨，还是唯一能稳定生产多类型产品的企业，还有多家企业正在扩产或建设中。 聚苯硫醚优势突出，耐高温耐腐蚀性强，还能绝缘或改性为半导体，机械性能好，在汽车电子领域的应用占比接近八成 ...

12月1日起，中国将对原产于日本、美国、韩国和马来西亚的进口聚苯硫醚继续征收反倾销税。税率最高可达220.9%（针对美国公司），日本企业为25.2% 到69.1%之间，韩国企业为26.4%至46.8%，马来西亚企业则为23.3%到40.5%之间。 这一决定是在中国商务部完成期终复审调查后做出的。商务部表示，如果终止反倾销措施，来自这些国家的进口聚苯硫醚可能会继续倾销，造成中国产业的 严重损害。因此，中国对美日韩马四国加税，背后有更深层的原因，那就是反击美国对中国的围堵。尽管中美贸易战已经进入为期一年的休战期，但特朗普 政府从未放弃对中国的打压。早在今年7月，美国就扩大了关税政策，涵盖所有通过转口进入美国的商品，并对这些商品征收高达40%的转口关税。这一政 策意在针对中国企业通过越南、马来西亚、墨西哥等国转口商品到美国的做法。例如，中国商品在越南经过加工后再出口到美国，可能会面临针对中国的原 产地关税以及针对越南的转口关税。 除了中国，其他东南亚国家的经济也受到了影响。近年来，许多劳动密集型产业，如纺织、鞋类和电子组装等，已经从中国转移到越南、柬埔寨等地，许多 企业希望通过第三方出口来规避美国的关税风险。然而， ...

据悉，在反倾销措施期终复审调查期间，将延续原有反倾销税征收标准。本次复审的倾销调查期为2024 年7月1日至2025年6月30日，产业损害调查期为2021年1月1日至2025年6月30日。本次复审调查的内容 为，如果终止对原产于日本、美国、韩国和马来西亚的进口聚苯硫醚实施的反倾销措施，是否可能导致 倾销和损害继续或再度发生。利害关系方可于本公告发布之日起20日内，向商务部贸易救济调查局登记 参加本次反倾销期终复审调查。 2020年11月30日，商务部发布公告，决定对原产于日本、美国、韩国和马来西亚的进口聚苯硫醚征收 23.3%~220.9%的反倾销税，其中，日本公司25.2%~69.1%，美国公司214.1%~220.9%，韩国公司 26.4%~46.8%，马来西亚公司23.3%~40.5%。措施实施期限为5年。 中化新网讯 11月30日，商务部发布公告，对原产于日本、美国、韩国和马来西亚的进口聚苯硫醚所适 用的反倾销措施发起期终复审调查。 2025年9月8日，商务部收到浙江新和成特种材料有限公司代表中国聚苯硫醚产业提交的反倾销措施期终 复审申请书，请求商务部对进口聚苯硫醚反倾销措施进行期终复审调查，并维持原 ...

Core Viewpoint - The Ministry of Commerce of China has initiated a final review investigation of anti-dumping measures on imported polyphenylene sulfide (PPS) from Japan, the United States, South Korea, and Malaysia, following a request from Zhejiang Xinheng Special Materials Co., Ltd. [2] Group 1: Anti-Dumping Measures - The Ministry of Commerce announced the initiation of a final review investigation on November 30, 2025, regarding anti-dumping measures applicable to imported PPS from Japan, the United States, South Korea, and Malaysia [2]. - During the investigation period, the anti-dumping duties will continue to be levied according to the rates specified in previous announcements from 2020, 2021, and 2022 [2]. - The anti-dumping tax rates for various companies are as follows: - Japan: 26.9% to 69.1% - United States: 214.1% to 220.9% - South Korea: 26.4% to 32.7% - Malaysia: 40.5% [4] Group 2: Product Description and Applications - Polyphenylene sulfide (PPS) is a high-performance thermoplastic resin characterized by a molecular chain containing phenyl sulfide, known for its excellent properties such as high-temperature resistance, corrosion resistance, radiation resistance, flame retardancy, and electrical insulation [2]. - PPS is widely used in various industries, including textiles, automotive, electronics, machinery, petroleum, chemical, and aerospace [3].

Economic News - The Ministry of Transport emphasizes the strong cooperation between China and Norway in the shipping industry, highlighting the potential for collaboration in green and smart shipping [2] - The Ministry of Foreign Affairs announces French President Macron's upcoming state visit to China, marking a significant moment in Sino-French relations [2] - The Ministry of Commerce initiates a final review investigation on anti-dumping measures for imported polyphenylene sulfide from Japan, the US, South Korea, and Malaysia [5] - The People's Bank of China reports that in October, the bond market issued a total of 63,574.6 billion yuan in various bonds, with government bonds accounting for 11,695.5 billion yuan [5] - The National Bureau of Statistics indicates that the manufacturing PMI rose to 49.2% in November, showing signs of improvement in both production and demand [5] Company News - Xunbang Intelligent plans to issue shares and pay cash to acquire 100% of Wuxi Yindi Chip Microelectronics, with the transaction pending approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission [6] - Changhua Group receives a development notification from a domestic automaker for key metal structural components, with an estimated total sales amount of approximately 732 million yuan over a five-year project lifecycle [6] - Lizhong Group signs a technical agreement with Beijing Weijing Intelligent Technology for the processing of humanoid robot components, utilizing its advanced production facilities [6] - Chongqing Port's board approves a new investment plan for the modernization of the Jiangjin Port's multi-modal transport capacity, with an estimated total investment of 299 million yuan [6] - Hanma Technology reports a significant increase in truck production and sales in November, with production reaching 1,947 units, a year-on-year increase of 137.44% [8] Industry Analysis - The pig farming industry is experiencing low prices, with October prices showing a slight rebound but lacking sustained support, leading to increased pressure on supply [9] - The supply side indicates a decrease in the breeding sow inventory, with a reported 40.35 million heads, a 0.70% decrease from the previous month [10] - Policy adjustments and low prices are expected to accelerate capacity reduction in the pig farming sector, with a potential price increase anticipated in the second half of 2026 [11] - Major pig farming companies, including Muyuan Foods, report significant declines in average selling prices for October, with prices dropping by over 10% [12]

Core Viewpoint - The Ministry of Commerce has initiated a final review investigation of anti-dumping measures applicable to imported polyphenylene sulfide (PPS) from Japan, the United States, South Korea, and Malaysia, following a request from the Chinese PPS industry [1][2][3]. Group 1: Anti-Dumping Measures - The anti-dumping duties imposed on imported PPS from Japan, the United States, South Korea, and Malaysia range from 23.3% to 220.9%, with specific rates for companies in each country [1][4]. - The review period for the investigation will cover the period from July 1, 2024, to June 30, 2025, while the injury investigation period will span from January 1, 2021, to June 30, 2025 [5]. Group 2: Product Scope and Description - The product under review is polyphenylene sulfide (PPS), a high-performance thermoplastic resin known for its excellent properties such as high-temperature resistance, corrosion resistance, and flame retardancy [6]. - PPS is widely used in various industries, including textiles, automotive, electronics, machinery, petroleum, chemical, and aerospace [6]. Group 3: Investigation Process - Interested parties can register to participate in the investigation within 20 days from the announcement date, providing necessary information regarding their involvement with the investigated products [9][10]. - The Ministry of Commerce will utilize various methods, including questionnaires and hearings, to gather information during the investigation [14].

美国公司：苏威特种聚合物美国有限公司(Solvay Specialty Polymers USA, LLC)214.1%、富特朗实业有 限公司(Fortron Industries LLC)220.9%、其他美国公司220.9%； 11月30日，商务部发布2025年第77号公告，公布对原产于日本、美国、韩国和马来西亚的进口聚苯硫醚 所适用的反倾销措施发起期终复审调查。 根据《中华人民共和国反倾销条例》第四十八条之规定，商务部决定自2025年12月1日起，对原产于日 本、美国、韩国和马来西亚的进口聚苯硫醚所适用的反倾销措施进行期终复审调查。根据商务部建议， 国务院关税税则委员会决定，在反倾销措施期终复审调查期间，对原产于日本、美国、韩国和马来西亚 的进口聚苯硫醚继续按照商务部2020年第53号公告、2021年第34号公告和2022年第26号公告公布的征税 范围和税率征收反倾销税。 对各公司征收的反倾销税税率如下。 日本公司：东丽株式会社 (Toray Industries, Inc.)26.9%、DIC株式会社(DIC Corporation)27.3%、宝理塑料 株式会社(POLYPLASTICS CO., ...

Core Insights - The article emphasizes the strategic importance of new materials in the context of global technological competition and industrial chain restructuring, highlighting the need for domestic innovation to reduce reliance on foreign technologies [2][4]. Semiconductor Wafer Manufacturing Materials - The global photoresist market is projected to reach approximately $15 billion by 2030, with a current domestic market size of about 12 billion RMB, indicating significant growth potential [7]. - The domestic photoresist localization rate is around 10%, with high-end products heavily reliant on imports [7]. - Major foreign players in the photoresist market include Tokyo Ohka Kogyo, Dow Chemical, and Sumitomo Chemical, which dominate the market shares [8]. - Domestic companies such as Beijing Kehua and Suzhou Ruihong are making strides in production, but high-end products still face challenges [9]. Advanced Packaging Materials - The global market for high-performance epoxy encapsulants is expected to grow to $3.5 billion by 2030, with a current domestic market size of 4 billion RMB [39]. - The localization rate for epoxy encapsulants is around 30%, with high-end products still dependent on imports [39]. - Key foreign companies include Sumitomo Bakelite and Henkel, while domestic players include Hengshuo Huawai and Jiangsu Zhongpeng New Materials [40]. Semiconductor Components - The global market for electrostatic chucks is projected to reach $2.5 billion by 2030, with a current domestic market size of 2 billion RMB [56]. - The localization rate for electrostatic chucks is approximately 10%, with high-end products largely dominated by foreign manufacturers [56]. - Major foreign companies include Applied Materials and Lam Research, while domestic companies are beginning to emerge [57]. Display Materials - The global OLED materials market is expected to exceed $10 billion by 2030, with a current domestic market size of about 8 billion RMB [64]. - The localization rate for OLED materials is around 20%, with high-end materials still reliant on foreign sources [65].

Core Viewpoint - The Ming Shui Economic and Technological Development Zone is actively promoting industrial investment and project development, with significant contributions to the local economy and industrial transformation. Group 1: Investment and Project Development - The Ming Shui Economic and Technological Development Zone plans to complete a total industrial investment of 162.97 billion yuan and technological transformation investment of 107 billion yuan in 2023 and 2024, accounting for approximately 75% of the total investment in the district, with technological transformation investment exceeding 10% of the city's total [1] - The development zone has established a full lifecycle work mechanism for attracting investment projects, utilizing various methods such as industrial chain, scenario, ecological, and fund-based investment, resulting in a reserve of 110 projects and 67 signed projects, with nearly 90% being industrial projects [2] - The development zone maintains an annual initiation of over 15 industrial projects with investments exceeding 100 million yuan, implementing more than 260 industrial investment projects annually, which accounts for over 10% of the city's total [2] Group 2: Industrial Transformation and Upgrading - The development zone focuses on high-end manufacturing, with significant projects like the Jianghe Curtain Wall Green Manufacturing Center being completed and operational [2] - The zone promotes digital intelligence, with five enterprises recognized as national intelligent manufacturing excellent scenarios, and emphasizes green initiatives through energy-saving renovations and photovoltaic projects, earning the title of a national-level green industrial park [2] - The introduction of the Snow Beer project in 2022 has not only attracted supporting enterprises but also established the first seamless connection intelligent production line for canned beer in the country, projecting a revenue of over 2 billion yuan by 2024 [2] Group 3: Industry Chain Development - The development zone leverages leading enterprises like China National Heavy Duty Truck Group to create an ecosystem of "leading enterprises + supporting clusters," attracting 33 automotive industry projects in the past three years, generating nearly 5 billion yuan in new output value [3] - Traditional industries are being revitalized through targeted investments, such as the 2.5 billion yuan investment by Mingquan Group in a polyphenylene sulfide project, transitioning from basic chemical materials to new high-end materials [3] - New industries are being developed, focusing on low-altitude economy and aerospace information industries, with projects like the artificial crystal innovation platform aimed at addressing critical technology issues and establishing a domestic highland for artificial crystal materials and devices [3]