[British The Times reported on May 8] Title: Unexpected Growth in China's Exports has Boosted the World Market
The unexpected recovery of Chinese exports drove the global stock market to rise on the 7th. The world’s second-largest economy reported last month’s export value (denominated in U.S. dollars) increased 3.5% year-on-year. This better-than-expected data boosted the market.
The blockade measures taken by Beijing to prevent and control the spread of the epidemic have forced huge manufacturing sectors to shut down, which has had a serious impact on the Chinese economy. With the relaxation of restrictions imposed in response to the epidemic, workers have now returned to work.
However, analysts are still cautious about China's prospects. Some analysts hinted on the 7th that the export rebound in April was a temporary increase caused by the backlog of orders caused by the previous factory shutdown. At the same time, the sudden deterioration of the economic activities of China's major trading partners is likely to cause a serious weakening of exports in May.
[British Financial Times reported on May 7] Title: China's exports rebounded in April due to the rebound in Asian demand
China’s exports rebounded in April, but the country’s service sector remained sluggish, suggesting the challenges faced by the world’s second-largest economy when trying to revive the country after ending the blockade measures.
According to data released by the General Administration of Customs of China, exports in April increased by 8.2% year-on-year. This recovery was driven by strong demand from Southeast Asia, one of China ’s largest trading partners. As the epidemic eased, Southeast Asian markets are gradually reopening and ASEAN’s purchases in the first four months of this year increased by 3.9%. In addition, with the restoration of infrastructure construction, the imports of iron ore and copper both increased significantly last month.