Tuesday, October 3, 2023
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China vows positive trade growth in second half

BEIJING (Reuters) – China can achieve positive foreign trade growth in the 2022 second half of the year despite slowing external demand, and pressure to stabilize imports is mounting, Vice Commerce Minister Wang Shouwen said on Tuesday. The bigger

foreign trade is the last reliable pillar of the world’s second-largest economy as it struggles with the COVID-19 outbreak, weak consumption and The real estate crisis is losing momentum as domestic and foreign demand weakens.

The trade data in August shows that with the slowdown of economic growth in Europe and the United States, orders from Chinese trading companies have declined, and weak external demand is still the biggest uncertainty in China’s foreign trade. Beijing Conference.

To stabilize the industry, the Ministry of Industry and Information Technology issued measures on Tuesday, including supporting the delivery of orders from companies and encouraging some regions to explore used car exports.

132 The online exhibition of the 2nd China Import and Export Fair or Canton Fair will be expanded from 10) days to five months, the ministry said.

China will cut port charges for government-priced goods by 20% in the fourth quarter and pledge to keep ports and warehouses operating as normal, state media last week The Cabinet was quoted as saying.

“With these policy supports and the sound foundation of China’s foreign trade, we are confident that the industry will achieve positive external demand growth in the second half of this year with a slowdown,” Wang said.

Exports rose 7.1% year-on-year in August, lower than the % increase in July and marked It was the first slowdown since April, official data showed.

The slowdown in trade is hitting factories in the manufacturing hubs of eastern and southern China, from machinery parts and textiles to high-tech appliances, where companies are scaling back as export orders dry up .



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