Ministry of Commerce of China: Exports in the first half of the year are expected to continue good momentum

Ministry of Commerce of China: Exports in the first half of the year are expected to continue good momentum

Gao Feng, a spokesperson for the Ministry of Commerce of China, said on Thursday that from the survey of localities, industries, and enterprises, China’s exports are expected to continue to maintain a good momentum in the first half of the year; the Ministry of Commerce will continue to do a good job in maintaining the supply and stabilizing prices of bulk commodities and promote import diversification, Strengthen international cooperation, build a mutually beneficial and win-win bulk commodity stable trade channel, and continue to increase work in terms of ensuring capacity and strengthening freight supervision.

He pointed out at the regular press conference that since the second half of last year, companies have generally reported that they are facing difficulties and challenges such as rising raw material prices, large exchange rate fluctuations, and poor shipping and logistics. They will further reduce their costs and adopt practical and targeted measures. Measures to support the stable operation and healthy development of various foreign trade enterprises, especially small, medium and micro foreign trade enterprises.

“Our questionnaire survey of more than 20,000 companies participating in the 129th Canton Fair shows that 43.2% of companies have orders on hand for more than three months,” Gao said.

China’s official manufacturing PMI new export order index continued to drop below 50 in May, an 11-month low. Caixin China’s manufacturing PMI new export order index rose to a half-year high, and the two major manufacturing PMI export order indexes “fought”. The decline in official export orders may be related to the company’s postponement of orders under cost pressure. Real exports may not be weak, and China’s subsequent exports are still supportive.

The World Trade Organization (WTO) agreed last week to set up a dispute settlement group to resolve China’s dispute over the imposition of anti-dumping and countervailing duties on Australian barley. Gao Feng said in this regard that the Chinese government has always respected WTO rules and has always managed foreign trade in a manner consistent with WTO rules.

He also emphasized that China will properly handle the case in accordance with the WTO dispute settlement procedures. At the same time, China respects New Zealand’s right to participate in relevant dispute cases as a third party as a member of the WTO.

At the end of last year, Australia filed a formal appeal to the WTO to review China’s decision to impose high tariffs on imported barley from Australia. This is one of the many aspects of friction between the two countries.

Gao Feng also introduced that the 27th APEC Trade Ministers’ Meeting will be held on June 5 by video. Chinese Minister of Commerce Wang Wentao will attend the meeting on behalf of China and look forward to the meeting to promote the cooperation of economies in the Asia-Pacific region to fight the epidemic to maintain the security of the regional industrial chain supply chain and promote the stable recovery and healthy development of the regional economy.