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According to the local media this will include 20 trillion Decline in China’s log imports
yen (US$137.4 billion) available for decarbonisation support According to China Customs, log imports in the first quarter
to encourage companies to participate in the emissions of 2024 totalled 8.85 million cubic metres valued at US$1.503
trading system (ETS). billion, down five percent in volume and six percent in value

Private sector company participation in the ETS, which compared to the first quarter of 2023.
began on a trial basis in Japan last year, is still optional but In addition, the average price for imported logs was
the government will make participation a requirement for US$170 (CIF) per cubic metre, down two percent from the
companies to receive its financial support for going greener. same period of 2023.
The government will establish industry-specific guidelines Of total log imports, softwood log imports dropped eight
for reducing greenhouse gas emissions with a view to percent to 6.20 million cubic metres, accounting for 70 percent
setting targets. It will also consider providing guidance and of the national total.
recommendations to companies that fail to meet their targets The average price for imported softwood logs declined
based on these guidelines from fiscal 2026, when the ETS nine percent to US$134 (CIF) per cubic metre over the same

comes into full effect. period of 2023.
Companies will be able to set their own reduction Hardwood log imports rose four percent in the first quarter
targets based on ministry guidelines. Whether the targets of 2024 compared to the same period in 2023 to 2.65 million
are appropriate or not will be subject to certification by a cubic metres, accounting for 30 percent of the national total.
third-party organisation. The average price for imported hardwood logs rose four
Currently, companies are free to choose whether or not percent to US$254 (CIF) per cubic metre over the same
to participate in the ETS and can set reduction targets on a period of 2023.

voluntary basis. The Ministry will not mandate participation Of total hardwood log imports, tropical log imports were
even after fiscal 2026 but will establish a mechanism to 1.52 million cubic metres valued at US$391 million CIF, down
encourage participation in the programme. slightly in volume (1%) but up 1.5 percent in value from the
same period of 2023. Tropical logs accounted for 17 percent
CHINA of the national total log import volume.
Production license management for plywood and The average price for imported tropical logs was US$257
blockboard CIF per cubic metre, up three percent from the same period
To ensure the quality and safety of industrial products, strengthen of 2023.
product management and source control, prevent major risks

from product quality and ensure the safety of people's lives
and property the State Council has adjusted the coverage freepik
of production licenses for some industrial products.
The new production license management applies to
six products such as cold-rolled ribbed steel bars, bottled
liquefied petroleum gas, steel wire rope, plywood, blockboard
and safety hats. The provincial industrial product license

authority is responsible for implementation and this authority
shall not be delegated.