Central Texas Global Business Pulse

Big Plan at China International Import Expo

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The 2024 China International Import Expo (CIIE) wrapped up today, marking an incredible showcase of over 450 new products, technologies, and services. Big Plan is grateful for the opportunity to present our Market Entry advisory services to Chinese businesses exploring relocation. A special thank you to the Texas Department of Agriculture and the U.S. Department of Commerce for their support in making our participation possible. We’re excited about the connections made and the potential for future collaborations!

News & Updates

CIIE

Chinese Premier Li Qiang delivered a keynote speech at the opening ceremony of the 7th China International Import Expo (CIIE) and the Hongqiao International Economic Forum on Tuesday, saying China has continued to walk the talk in expanding opening-up and that the country is capable of promoting sound and steady economic growth, according to the Xinhua News Agency.

On Tuesday, Shanghai officially entered "CIIE moment," which has become an annual feast of global trade cooperation, and the colorful billboards on the streets of Shanghai and bustling scenes at the exhibition halls put on vivid display of the strong vibrancy and attractiveness of the Chinese market.
International semiconductor firms - including ASML, Advanced Micro Devices (AMD) and Qualcomm - have put the spotlight on some of their latest products at a major trade fair in Shanghai this week, in a fresh sign of their commitment to China in spite of mounting US sanctions on the country.
US food and agricultural companies are actively seeking opportunities at the 7th China International Import Expo (CIIE), and have already successfully secured numerous deals.

They also expressed strong optimism about the Chinese market, driven by evolving consumption patterns, and conveyed their aspirations for sustained cooperation.

International

Economists and investors are expecting a series of seismic and wide-ranging impacts from Donald Trump’s second presidential term. A range of financial markets have already seen significant volatility this week, from currencies to commodities to corporate share prices.

Here are some potential economic and financial implications of what some economists and experts are referring to as “Trumponomics 2.0.”
Taiwan Semiconductor Manufacturing Company, the maker of most of the world’s cutting-edge computer chips, discovered last month that one of its chips had ended up precisely where policymakers in the United States did not want it: in a processor made by Huawei.
Indonesia’s new leader called for collaboration rather than confrontation with China after the signing of $10 billion in new deals at a business forum on Sunday in the Chinese capital before heading to the U.S.

President Prabowo Subianto told the forum that his country wants to be part of China’s emergence as not only an economic but also a “civilizational power.”

USA

Retailers and manufacturing companies have been increasingly calling logistics partners, both in the days leading up to presidential election and on Election Night, about “front loading” shipments ahead of any changes in tariff policy to be pursued by President-elect Donald Trump, who campaigned on an aggressive expansion of existing U.S. tariffs on cross-border trade.

Trump has vowed across-the-board tariffs of 10% to 20% on all imports arriving into the United States and a 60%-100% tariff on Chinese imports.

“This is 2018 all over again,” said Paul Brashier, vice president of global supply chain for ITS Logistics, referring to the year during which Trump first imposed sweeping tariffs in his first term. “The calls expand beyond shippers who have Chinese imports. The global tariff threat is fueling calls for frontloading from all around the globe,” he said.
The Small Business Administration is proposing a new rule aimed at unlocking billions more dollars in federal contracts for small businesses.

The new proposed rule seeks to expand the so-called “rule of two” to multiple-award contract task and delivery orders. The "rule of two" means when a federal agency reasonably expects two or more small businesses to submit competitive and reasonable bids for a contract, it must set aside a portion to award to a small business.
The House Select Committee on the Chinese Communist Party, which has targeted numerous U.S. companies for their ties to China, sent letters on Thursday to a handful of firms making semiconductor manufacturing equipment, expressing concern about technology sales to China and requesting detailed information about the companies’ sales volumes and top customers.

The committee said the information would help it better understand how much chip-making technology was flowing to China, and the role that was helping to build out China’s chip manufacturing base.
Hours after Donald Trump recaptured the White House, at least one major American company is already making plans to shift production out of China.

Texas

Energy Vault Holdings Inc. (NYSE: NRGV) ("Energy Vault" or the "Company"), a leader in sustainable, grid-scale energy storage solutions, today announced plans for the deployment of a 57 MW/114 MWh Battery Energy Storage System (BESS) in Scurry County, Texas, as well as the signing of a 10-year offtake agreement with Gridmatic, a leading AI-enabled power marketer. Construction of the Cross Trails BESS is expected to begin in Q1 2025, with commercial operation expected by summer 2025.
China’s renewables giant Trina Solar Co. has agreed to sell its US solar manufacturing operations amid increased American scrutiny of Chinese companies benefiting from clean energy tax incentives created under President Joe Biden’s signature climate law.

Georgia-based Freyr Battery will pay $340 million for Trina’s new 5-gigawatt solar panel assembly facility in Wilmer, Texas, and other manufacturing assets, the company said. Trina will retain a minority ownership stake in Freyr after the transaction closes, which is expected at the end of the year.
Across Texas, fenced lots of shipping-like containers are popping up amid the oil derricks and wind turbines that have defined the landscape.

Building blocks of a new energy ecosystem, these grey boxes are packed full of batteries, already revolutionizing the way power is produced and distributed to consumers.

Austin

Austin-based BigCommerce, which helps other businesses operate online stores, is conducting a new round of layoffs as it tries to re-focus its e-commerce business.

The move follows a couple of rounds of layoffs in the past two years, and it comes as the company this week reported 7% revenue growth for the third quarter.
An international infrastructure firm has been awarded a contract worth almost three-quarters of a billion dollars to help expand I-35 through Austin.

Balfour Beatty announced it has received the $746 million contract from the Texas Department of Transportation to oversee a 2.5-mile stretch of the expansion on the south side of downtown. The company is set to oversee the portion of the effort from State Highway 71 to Holly Street.
Austin's public transportation system is getting a facelift on the east side of town as CapMetro plans to add a second set of tracks, among other improvements, along its Red Line.

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