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China's Imports And Exports Picked Up In March

Apr. 15, 2020

China's imports and exports improved in March, according to reports from various regions and industries, said gao feng, spokesman for the ministry of commerce, at a regular online news conference on April 9.

At present, the resumption of production by foreign trade enterprises is proceeding in an orderly manner, with over 76 percent of the country's key foreign trade enterprises recovering more than 70 percent of their production capacity, gaofeng said.

The PMI's index of new export orders and the index of imports rose 17.7 percentage points and 16.5 percentage points, respectively, from February.

"But at the same time, the global COVID 19 outbreak is having an impact on the world economy and international trade.

According to the survey conducted by the ministry of commerce on key regions, key industries and key enterprises, some foreign trade enterprises' orders in hand are delayed or cancelled, and new orders signed are affected, especially in the consumer industries such as textile and clothing, which will suffer a big impact in the short term.



As for the extent of the impact on foreign trade, the ministry of commerce will closely follow the assessment, gao said.

We have introduced a series of policies to stabilize foreign trade in the early stage, and we will make vigorous efforts to implement them in the next step, and make efforts to rescue foreign trade enterprises according to the changing situation, so as to minimize the impact of the epidemic on foreign trade and stabilize the basic foreign trade.

About the resumption of work of foreign-funded enterprises, peak introduction, recently the progress of the resumption of work and production of foreign-funded enterprises has been steadily improved.

As of April 7, 71.9% of the country's 8,776 foreign-invested key enterprises had a recovery rate of more than 70%, up 5 percentage points from the previous week.

The recovery of manufacturing enterprises was significantly accelerated, with 76.8 percent of enterprises with a recovery rate of more than 70 percent, up 6.6 percentage points from the previous week, and only 5.4 percent of enterprises with a recovery rate of less than 50 percent.

The recovery rate of foreign-invested enterprises in hubei province has been rising rapidly, with the percentage of manufacturing enterprises with a recovery rate of more than 70 percent rising 9.9 percentage points to 75.9 percent last week, close to the national average.

Turning to the current domestic consumer market, gaofeng said that the current situation of epidemic prevention and control in China continues to improve, enterprises to speed up business expansion, market consumption bottomed out and steadily improved.

The opening rate of large agricultural products wholesale market, large supermarket, department store and brand convenience store is above 95%.

The average daily sales of retail enterprises monitored by the ministry of commerce increased by 0.9% in the second half of march and 3.2% in the second half of February.

During this year's qingming holiday, the average daily transaction volume of the accommodation and catering industries in China increased by 11.5 percent and 10 percent respectively from mid-to-late march, returning to the same period last year.

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