Source: Danny Ding, NCDA&CS, 4/23/21

China's GDP in the first quarter was US$3844.36billion, an increase of 18.3% year on year. And China's total retail sales of consumer goods in the first quarter increased by 33.9% year on year. In comparison with Chinese government’s set goal of 6%GDP increase in 2021, IMF raised China's economic growth forecast to 8.4%.

Due to the tight supply, the U.S. corn spot price rose this Wednesday, following the price of the corn futures to an 8-year high. The fact that China imports more corn than ever before played an important role in boosting the price of corn.

On April 20th, the Guangzhou (China) Import Food Trading Center was officially inaugurated. More than 192 countries and regions currently export food to China, and the value of China's total imported food in 2020 exceeded US$100 billion.