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China foreign trade remains bearish
China foreign trade in the first two months this year recorded a greater-than-expected 27.2 percent drop from a year ago, according to the General Administration of Customs.
- Exports dropped 25.7 percent to US$64.9 billion
- Imports plunged 24.1 percent to US60.05 billion
It remains to be seen if China will cut all export taxes to zero to support overseas shipments. Meanwhile, Premier Wen Jiabao’s 4 trillion yuan package of tax cuts and infrastructure spending is expected to uphold the target of 8 percent economic growth this year, a move to counter the negative effects of slumping exports and receding industrial growth.
Those feeling the squeeze include suppliers to companies such as Mattel Inc., the world’s biggest toymaker, and U.S. department- store chain J.C. Penney Co.
Hong Kong Electronic, Houseware, Gifts & Premium trade fairs are coming very soon in April, it would give us some insights by talking to buyers and suppliers onsite and seeing visitors’ turn-out rate.
Sluggish foreign trade outlook
Related Articles:
- China CPI and PPI dive in Feb
- China Imports and Exports fall in Jan
- China Exports in December took another plunge
- October PPI and CPI continue to soften
- Analysts tipping a downturn for China exports in October
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