How waning trade demand, slowdown are impacting China’s exports
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The orderly loading and unloading of containers at the container terminal of Lianyungang Port in Lianyungang city, Jiangsu province, China, Dec. 14, 2022.
Synopsis
Chinese goods exports in dollar terms contracted 8.7% year-on-year in November after shrinking 0.3% in October, according to General Administration of Customs’ data. It’s the largest drop since February 2020 and the figures continue to lag. However, some analysts believe Beijing’s pivot on ‘zero-Covid-19 policy and rescue of ailing developers could boost domestic consumption and help lift the real-estate sector.
Kelsey Cheng In October, traffic on the highway leading to one of the world’s largest ports by cargo throughput was unusually light. In past years, the roads leading to the Ningbo-Zhoushan port in East China’s Zhejiang province would have been packed in the week leading up to the Oct. 1 National Day holiday, the peak season for shipping, said Wang Lei, executive vice president at Safewell Group Holdings (China) Co. Ltd., a manufacturer and
BY
Caixin Global
9 mins read
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