The General Administration of Customs yesterday released the import and export situation of China's foreign trade in January this year. Statistics show that China's import and export growth rate showed a year-on-year negative growth, and the trade surplus expanded to a new high in six months. Last month, China’s foreign trade import and export value totaled US$272.6 billion, down 7.8% year-on-year; of which exports were US$149.94 billion, down 0.5%; imports were US$122.66 billion, down 15.3%. This is the first time since October 2009, the growth rate of import and export has experienced a year-on-year negative growth. The General Administration of Customs said that this year's Spring Festival holiday is in January, and there are only 17 working days in the month. Excluding the impact of the Spring Festival factor, China’s imports, exports, exports and imports all achieved positive growth in January. However, even after the data was seasonally adjusted, the growth rate of import, export, import and export in the month was still lower than that in December last year, and the trend has not changed. In addition, the trade surplus in the month further expanded to reach US$27.28 billion, a record high since July last year. Chen Letian, a macroeconomic researcher at Xiangcai Securities, believes that since January is a winter, domestic economic activities are generally colder; coupled with fewer workdays and a downward trend in investment demand, the domestic demand is sluggish, causing a sharp drop in imports. He Qingming, an analyst at Ping An Securities, believes that the import and export data in January is susceptible to short-term factors such as festivals, and that the import and export trade data fluctuates greatly between months. Only a single month of data may not be able to effectively infer the subsequent import and export trade situation. However, due to the sluggish performance of import trade in general trade and processing trade, the PMI index shows that the manufacturing industry is not booming and exports are weakening. Therefore, the pattern of internal and external demand is still continuing. The pattern of weakening foreign trade situation in the first quarter continues. Larger. Chen Letian said that foreign trade growth is expected to rebound to positive growth in February, but the low growth of exports throughout the year is a foregone conclusion. ■Corporate claims Foreign demand is weak, and exporting companies are sad. Mr. Xue is the owner of an export enterprise in a coastal city. His company exports polypropylene cocks to the United States and Taiwan. According to him, since the second half of last year, the export situation has become increasingly severe. The delivery period required by overseas customers to his company is getting longer and longer, and due to the continuous appreciation of the RMB, the profit margin of the company's export products is constantly being compressed. Mr. Xue said that he used to export about 80,000 polypropylene cocks to American companies every year, and customers asked him once every three months. However, as the US economy has been sluggish and demand has been declining, the supply period has been continuously lengthened since the second half of last year. It has been changed to five months now, and the supply has not increased. He said that the original US customer will place a new order in January this year, but he has not received it yet. In addition, “intangible†losses caused by exchange rate factors account for 15% of total profits. Mr. Xue said that if he continues this way, he will consider stopping supplying to overseas. Premier Wen Jiabao of the State Council earlier stressed during his inspection in Guangdong that he should strategically consider European relations and help stabilize the European market. At the same time, in the face of severe conditions, China’s import and export policies should remain stable overall, and policy adjustments should encourage more than restrictions. Sexual. Chinese Minister of Commerce Chen Deming said on Thursday that he will take various measures to maintain stable growth of foreign trade and maintain the basic stability of the RMB exchange rate.
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