Year of the Ox

Year of the Ox

Dear business partner,

2021 is the year of the Ox according to the lunar calendar.

The Ox is a valued animal in China, as it stands for hard work and reliability while being honest and intelligent.

Below we would like to share the dates of public holidays in China this year:

International New Year: Jan 1st – 3rd
Chinese New Year: Feb 11th – 17th
Qing Ming Festival: Apr 3rd – 5th
Labor Day: May 1st – 5th
Dragon Boat Festival: Jun 12th – 14th
Mid Autumn Festival: Sep 19th – 21st
National Day: Oct 1st – 7th

Have you seen the new Petrex Wave?

Have you seen the new Petrex Wave?

The Petrex Wave has been our recognition feature since our company was founded back in 1999. You may find it in our brochures, powerpoint presentations or wall calendars. During the last two years we enlarged and rejuvenated our team to bring in new ideas and building the foundation for the company’s future. In this context, we decided to get a fresh Petrex Wave, representing the balance between old and new – our original motivation to run this company with passion and believing in the service we provide… as well as changing our processes to go with the time.

By the way, we will launch our new ERP system on the first of January. You will notice it on all our documents.

15 Asia Pacific countries sign worlds largest free trade agreement

15 Asia Pacific countries sign worlds largest free trade agreement

The agreement will cover one third of the worlds GDP and population and was signed by Australia, China, Japan, New Zealand, South Korea and the 10 members of ASEAN, including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. India withdrew from the RCEP (Regional Comprehensive Economic Partnership) negotiations last year due to concerns about its agricultural and manufacturing sectors when facing more foreign competition.

The trade deal was made in order to recover from the pandemic. It lowers tariffs, opens up the service sector and sets common trade rules.

Interested in Sterile Amoxicillin Trihydrate?

Interested in Sterile Amoxicillin Trihydrate?

Petrex has started a cooperation with North China Pharmaceuticals Corp. (NCPC) to develop, produce and distribute Sterile Amoxicillin Trihydrate.
Our in-process sterilization has many advantages compared to other methods like radiation or ethylene oxide sterilization. Our product has a low impurity profile and comes in sterile packing.

We are currently working on the ASMF and plan to enter the market in first half of 2021. Product validation has been done and samples are ready for dispatch.

Please contact Petrex in case you are interested in optimizing your supply!

Golden Week in China

Golden Week in China

China expects a huge tourism rebound in domestic travels during the upcoming October holiday. Starting October 1st with Chinas National Day, online travel platform trip.com estimates that 600 million trips could be made until end of the festival on 8th October (782 million trips last year).

Traveling to other countries is almost no option these days. Not only strict entry policies in other countries but also mandatory 14 days quarantine in a designated hotel upon return to China forces citizens to travel only nationwide this year. Domestic travel bans have been lifted, but there are still some restrictions. Schools in Beijing and Shanghai for example have asked parents and students not to go away for the holidays unless strictly necessary.

USD – EUR Exchange Rate Development

USD – EUR Exchange Rate Development

Over the past year the EUR USD exchange rate was quite stable at around 1.10 with ups and downs to 1.12 or 1.08. Since June however, the EUR steadily gained against the USD and reached a two-year high of 1.1965 this Tuesday.

On the one hand the Euro is getting stronger, mainly because the European economy seems to find a better way out of the Covid crisis. On the other hand the USD faces losses against almost every currency recently. Since beginning of July it dropped 6.4% against Swedish Krona, 2.5% against the Japanese Yen and even against emerging market currencies such as the Brazilian Real or the Mexican Peso it fell 6.0 and 4.9%.

In case the United States will struggle to contain the pandemic in near future, financial experts predict that the EUR further gains against the USD, going beyond the psychological mark of 1.20 very soon.