Exports picked up in October, with China's share o

2022-08-24
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China's share of Global trade rose in October as exports picked up. China's share of Global trade rose in October. Introduction: the import and export data of the General Administration of Customs on the 10th (4) showed that exports began to pick up as expected, but there are still questions about whether it was a bottoming up or a flash in the pan. Data show that in October, China's exports amounted to 175.57 billion US dollars, an increase of 11.6% year-on-year, higher than 9.9% last month

the import and export data released by the General Administration of Customs on the 10th showed that exports began to pick up as expected, but there are still questions about whether it is a bottoming out or a flash in the pan

data show that in October, China's exports amounted to 175.57 billion US dollars, an increase of 11.6% year-on-year, higher than the 9.9% of the previous month and the 10% expected by the market. At the same time, imports amounted to 143.58 billion US dollars, an increase of 2.4% year-on-year, unchanged from the previous month, but slightly lower than the market expectation; Trade surplus 31 centrifugal constant acceleration experiment; Rocking test; US $990 million, further expanding from US $27.7 billion last month

from January to October this year, China's total import and export value was 3161.57 billion US dollars, an increase of 6.3% over the same period last year. This increase is a certain distance from the annual target. On the morning of the 10th, Minister of Commerce chendeming said in an interview with Chinese and foreign collectives that the task of achieving the annual target of about 10% of foreign trade this year is very arduous

the EU market is still in the doldrums, but China's economy seems to have shown signs of improvement. In the last few months when Christmas traders can measure their export orders, if the RMB exchange rate can further stabilize, foreign trade may have a greater improvement

the foreign demand market is still depressed

the data released by the General Administration of Customs shows that the recovery of traditional Chinese exporters such as Europe and the United States is still very different. From January to October, the total value of China EU bilateral trade was US $452.83 billion, down 3%. Over the same period, the total value of bilateral trade between China and the United States was US $396.09 billion, an increase of 9.1%. The total value of bilateral trade between China and ASEAN was US $323.89 billion, an increase of 9.4%

according to the bulk commodity import data, the imports of crude oil, iron ore and soybeans increased by 13.8%, 13.0% and 5.8% year-on-year respectively. Seasonally adjusted data from the customs showed that compared with the previous month, exports fell by 2.3% month on month, but imports increased by 2.8% month on month

in this context, export enterprises have also lowered their expectations for this year. Xiaoyouyuan, general manager of overseas sales company of Zhuhai Gree Electric Appliance Co., Ltd., told this newspaper that Gree's exports to Europe have been declining in the first eight months of this year. Although the U.S. and Southeast Asian markets unexpectedly performed well due to the economic recovery and the hot weather, Xiao Youyuan said that compared with the overall export growth rate of 17.9% last year, it would be good if the total volume could grow slightly or not decline this year

the data from the 112th Canton Fair, which just ended, doesn't sound very good: the turnover and the number of visitors decreased by about 10%

Chen Deming is not very optimistic about the export situation: "the foreign trade situation in the next few months is still severe, and it is more difficult to look forward to next year."

Lu Zhengwei, chief economist of Industrial Bank, said that the return of exports to double-digit growth in October was accidental and unsustainable in the future, except for the Western Christmas factor, because the RMB effective exchange rate was overestimated, the exports of major import sources were depressed, and the profit situation of foreign-invested enterprises was deteriorating

the overall warming trend remains unchanged

although there are various adverse factors, China's performance in attracting foreign investment and the growth rate of foreign trade exports this year is still higher than that of the world's major economies. According to the data released in succession in recent days, the overall recovery trend of China's economy is also a foregone conclusion

as for the achievements of China's foreign trade, Chen Deming analyzed that the main reason is that our growth rate is faster than that of other major economies, and our share in world trade has not decreased, but has increased slightly

the change in the structure of foreign trade is what makes him most happy

"our exports to some emerging countries, such as our trade with ASEAN and Russia, have increased by more than 10%, and the export of mechanical and electrical products has also increased by more than 8%. Some excellent products with independent brands account for nearly 20% of the booth of the Canton Fair this time, and these products are still favored by the market. Therefore, the current situation also forces Chinese enterprises to adjust their product structure and change their development mode as soon as possible."

another FDI data closely related to the performance of foreign trade shows that the future performance of China's exports will not be as pessimistic as people think

On October 23, the United Nations Conference on Trade and development issued the latest issue of global investment trend monitoring, which can be analyzed in detail. It showed that China absorbed foreign direct investment of US $59.1 billion in the first half of this year, although it decreased by 3%, but it still exceeded the US $57.4 billion, becoming the world's largest foreign direct investment destination

liuligang, chief economist of ANZ Greater China, said that on the whole, China's foreign trade, especially export data, showed that China's economy began to recover significantly, which was confirmed by the just released real economy data, indicating that China's economic growth momentum also began to accelerate. Judging from the increasing investment projects and investment demand, China will also maintain a relatively strong demand for bulk commodities in the future

"it is worth noting that after the release of the data, Minister of Commerce chendeming said that China needs to reduce the price of luxury goods, which will help boost domestic consumption." He analyzed that "the recent strong trade surplus has also significantly promoted the appreciation of the RMB, but we believe that this round of appreciation will come to an end with the end of the U.S. election, and then the central bank will guide the RMB exchange rate to depreciate slightly to the 6.30 range."

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