China exports post surprise 32% spike in June

[onebyone]

China exports post surprise 32% spike in June
Chinese shipments overseas surged 32.2% on-year last month, better than the 23% forecast and well up from May
By AT CONTRIBUTORJULY 13, 2021

Stacks of containers wait to be shipped abroad at the port of Qingdao in east China's Shandong province. Photo: AFP / Yu Fangping / Imaginechina
China’s exports spiked more than expected in June as countries around the world pushed towards a pandemic recovery, official data showed Tuesday, while imports spiked on the back of rising commodity costs.
Demand for China’s goods has risen with the global rollout of vaccines and as economically painful lockdowns to curb the spread of Covid-19 take place.
Supply disruptions happening sporadically with virus resurgences elsewhere have also increased reliance on products from China, where the outbreak is largely under control, analysts say.
Chinese shipments overseas surged 32.2% on-year last month, the Customs Administration said, much better than the 23% forecast and also well up from May.
Import’s also exceeded expectations, rallying 36.7% as the cost of key commodities such as iron ore, oil and copper surge. However, growth was below the more than 50% jump seen in May, which was the fastest in more than a decade.

While both figures show robust growth, recent months’ trade numbers have been bolstered by last year’s low base of comparison when the coronavirus forced parts of the country to shut down.

“As the world’s major factory, China continues to enjoy a competitive advantage from its control measures,” said Tommy Xie of OCBC Bank.

“Given uncertainties in different parts of the world and resurgences of the virus, supply disruptions are still on and off … that points to an increasing reliance on China’s products,” he said.

Imports remain strong because of the ongoing stocking up of electronic integrated circuits, which hit a high in June, said Xie.

For the first half of the year, exports rose 38.6% and imports grew 36%.


“The domestic economy is stabilizing and improving … providing strong support for the sustained and stable growth of foreign trade,” customs spokesman Li Kuiwen told a news conference on Tuesday.

But he cautioned that the pandemic was an ongoing concern, with “many uncertain and unstable factors facing foreign trade development.”

– AFP

China exports post surprise 32% spike in June - Asia Times

China's exports spiked more than expected in June as countries around the world pushed towards a pandemic recovery, official data showed Tuesday, while

asiatimes.com

 

[onebyone]

https://twitter.com/x/status/1414823065213571089

 

[OIO]

China exports post surprise 32% spike in June
Chinese shipments overseas surged 32.2% on-year last month, better than the 23% forecast and well up from May
By AT CONTRIBUTORJULY 13, 2021
View attachment 761811
Stacks of containers wait to be shipped abroad at the port of Qingdao in east China's Shandong province. Photo: AFP / Yu Fangping / Imaginechina
China’s exports spiked more than expected in June as countries around the world pushed towards a pandemic recovery, official data showed Tuesday, while imports spiked on the back of rising commodity costs.
Demand for China’s goods has risen with the global rollout of vaccines and as economically painful lockdowns to curb the spread of Covid-19 take place.
Supply disruptions happening sporadically with virus resurgences elsewhere have also increased reliance on products from China, where the outbreak is largely under control, analysts say.
Chinese shipments overseas surged 32.2% on-year last month, the Customs Administration said, much better than the 23% forecast and also well up from May.
Import’s also exceeded expectations, rallying 36.7% as the cost of key commodities such as iron ore, oil and copper surge. However, growth was below the more than 50% jump seen in May, which was the fastest in more than a decade.

While both figures show robust growth, recent months’ trade numbers have been bolstered by last year’s low base of comparison when the coronavirus forced parts of the country to shut down.

“As the world’s major factory, China continues to enjoy a competitive advantage from its control measures,” said Tommy Xie of OCBC Bank.

“Given uncertainties in different parts of the world and resurgences of the virus, supply disruptions are still on and off … that points to an increasing reliance on China’s products,” he said.

Imports remain strong because of the ongoing stocking up of electronic integrated circuits, which hit a high in June, said Xie.

For the first half of the year, exports rose 38.6% and imports grew 36%.


“The domestic economy is stabilizing and improving … providing strong support for the sustained and stable growth of foreign trade,” customs spokesman Li Kuiwen told a news conference on Tuesday.

But he cautioned that the pandemic was an ongoing concern, with “many uncertain and unstable factors facing foreign trade development.”

– AFP

China exports post surprise 32% spike in June - Asia Times

China's exports spiked more than expected in June as countries around the world pushed towards a pandemic recovery, official data showed Tuesday, while

asiatimes.com

This is not good news for the establishment of dual economic cycle. The problem of dependence on foreign trade exports has not been resolved.

 

[FuturePAF]

This is not good news for the establishment of dual economic cycle. The problem of dependence on foreign trade exports has not been resolved.

The average Chinese person is not rich enough to support a shift to a local consumption based economy. There is a large asset bubble that requires redistribution of wealth to correct; bringing the average citizen up to a high standard of living where their productive spending can be directed at consumer goods rather then get rich quick investment schemes and pointless real estate investments. Young people, especially those that get married and have kids should be given a free apartment in a good part of town to create the kind of consumers the Chinese dual circulation economy China need to make the transition.

 

[northeast]

This is not good news for the establishment of dual economic cycle. The problem of dependence on foreign trade exports has not been resolved.

You need foreign exchange to support or raise the value of RMB. Export as many goods as possible is always the best for china.

 

[OIO]

The average Chinese person is not rich enough to support a shift to a local consumption based economy. There is a large asset bubble that requires redistribution of wealth to correct; bringing the average citizen up to a high standard of living where their productive spending can be directed at consumer goods rather then get rich quick investment schemes and pointless real estate investments. Young people, especially those that get married and have kids should be given a free apartment in a good part of town to create the kind of consumers the Chinese dual circulation economy China need to make the transition.

China should build its countryside well in the next step so that the Chinese no longer envy Americans living in big houses. In fact, the poorest Chinese also have land and houses in the countryside. The main problem is regional imbalance.

The dependence on foreign trade exports will continue for some time before domestic demand is resolved. To solve the problem of domestic demand needs to solve the problem of regional imbalance. It is unreasonable that too many people are concentrated in big cities.

 

[OIO]

You need foreign exchange to support or raise the value of RMB. Export as many goods as possible is always the best for china.

China does not need so much foreign exchange, what the renminbi needs is internationalization.

 

[Viva_Viet]

China exports post surprise 32% spike in June
Chinese shipments overseas surged 32.2% on-year last month, better than the 23% forecast and well up from May
By AT CONTRIBUTORJULY 13, 2021
View attachment 761811
Stacks of containers wait to be shipped abroad at the port of Qingdao in east China's Shandong province. Photo: AFP / Yu Fangping / Imaginechina
China’s exports spiked more than expected in June as countries around the world pushed towards a pandemic recovery, official data showed Tuesday, while imports spiked on the back of rising commodity costs.
Demand for China’s goods has risen with the global rollout of vaccines and as economically painful lockdowns to curb the spread of Covid-19 take place.
Supply disruptions happening sporadically with virus resurgences elsewhere have also increased reliance on products from China, where the outbreak is largely under control, analysts say.
Chinese shipments overseas surged 32.2% on-year last month, the Customs Administration said, much better than the 23% forecast and also well up from May.
Import’s also exceeded expectations, rallying 36.7% as the cost of key commodities such as iron ore, oil and copper surge. However, growth was below the more than 50% jump seen in May, which was the fastest in more than a decade.

While both figures show robust growth, recent months’ trade numbers have been bolstered by last year’s low base of comparison when the coronavirus forced parts of the country to shut down.

“As the world’s major factory, China continues to enjoy a competitive advantage from its control measures,” said Tommy Xie of OCBC Bank.

“Given uncertainties in different parts of the world and resurgences of the virus, supply disruptions are still on and off … that points to an increasing reliance on China’s products,” he said.

Imports remain strong because of the ongoing stocking up of electronic integrated circuits, which hit a high in June, said Xie.

For the first half of the year, exports rose 38.6% and imports grew 36%.


“The domestic economy is stabilizing and improving … providing strong support for the sustained and stable growth of foreign trade,” customs spokesman Li Kuiwen told a news conference on Tuesday.

But he cautioned that the pandemic was an ongoing concern, with “many uncertain and unstable factors facing foreign trade development.”

– AFP

China exports post surprise 32% spike in June - Asia Times

China's exports spiked more than expected in June as countries around the world pushed towards a pandemic recovery, official data showed Tuesday, while

asiatimes.com

CN export is still good bcs CN govt willing to stamp down the worker's wages to stay competitive in export.

CN export raise only make the rich get richer, while the poor become poorer with salary reducing to reduce the products cost.

---------

GUANGZHOU -- The Chinese city of Shenzhen will overhaul its rules on worker pay for the first time in 17 years, looking to curb surging labor costs and stem the exodus of companies to cheaper markets in Southeast Asia and elsewhere.

A bustling technology hub, Shenzhen's plan boils down to three main components -- reducing overtime pay for irregular workers, tightening bonus rules and extending deadlines for paying employees.

The Shenzhen government has explained that supporting businesses serves workers' interests in the medium to long term. Employment in China still has yet to recover to pre-pandemic levels, and Shenzhen hopes cutting wages could encourage hiring.


Shenzhen currently requires triple pay for workers who show up on statutory holidays, like the Lunar New Year. Under revisions to the local ordinance on wages, which the Municipal People's Congress began deliberating at the end of May, holidays would pay the same as regular weekdays.

Employers also issue bonuses in proportion to how long employees worked there each year, even if they quit partway through. The Shenzhen proposal will allow companies to set their own guidelines on bonus payments, and potentially not pay workers who were only there short-term.

The city plan would allow the deadline for companies to pay their workers to be extended to the 30th of the following month from the current 22nd, though some local lawmakers are pushing for a shorter extension.

Shenzhen tamps down wages with eye on China's manufacturing exodus

City plans first rule change in 17 years as companies chase cheaper labor abroad

asia.nikkei.com

 

[CIA Mole]

You need foreign exchange to support or raise the value of RMB. Export as many goods as possible is always the best for china.

you need tech dominance to be reserve currency

 

[xuxu1457]

The total value of China's imports and exports in the first half of the year was 18.07 trillion yuan, an increase of 27.1% over the same period last year.
In the first half of the year, China's import and export scale of 18.07 trillion yuan reached the best level in the same period in history, an increase of 22.8% compared with the same period in 2019. Monthly imports and exports have achieved positive year-on-year growth for 13 consecutive months, and the steady growth of foreign trade has been further consolidated. In June, China's foreign trade imports and exports totaled 3.29 trillion yuan, an increase of 22 percent over the same period last year. If priced in US dollars, the total value of imports and exports in June was 511.31 billion US dollars, an increase of 34.2 percent over the same period last year. Of this total, exports were 281.42 billion US dollars, up 32.2 percent over the same period last year, and imports were 229.89 billion US dollars, up 36.7 percent from the same period last year Economists had predicted that exports in dollar terms would grow by 23% in June, while imports would grow by 29.5%, which is actually stronger.
According to customs statistics, China's imports and exports of goods totaled 18.07 trillion yuan in the first half of this year, an increase of 27.1 percent over the same period last year. Of this total, exports totaled 9.85 trillion yuan, up 28.1 percent, and imports totaled 8.22 trillion yuan, up 25.9 percent. Compared with the same period in 2019, imports and exports, exports and imports increased by 22.8%, 23.8% and 21.7%, respectively.
Exports are equivalent to an average annual growth rate of 11.2% for two years, which exceeds the average growth rate of previous years and has completely covered the losses caused by the epidemic.

Export $1.5 trillion
import $1.27 TRILLION
Exports account for 17% of GDP，One percentage point lower than India.

 

[Viva_Viet]

You need foreign exchange to support or raise the value of RMB. Export as many goods as possible is always the best for china.

Not the best when the rich get richer, while the poor Cnese become poorer with salary reducing to reduce the products cost. Chaos will come when the Gap bween rich and poor get much widen.

Not mentioning many rich Cnese hate Xi

--------
Written by a poet from China’s Tang dynasty (618-907), the poem is viewed by commentators as a merciless and sharp condemnation of Qin Shi Huang—the creator of China’s first unified empire the Qin dynasty (221-206 BC). The poem mocks the emperor’s crackdown on scholars and his burning of books, which was a way for Qin Shi Huang to consolidate his power. In the end, the regime was overthrown by non-intellectuals, the poem says (link in Chinese).

Meituan’s CEO is in the hot seat over a classical Chinese poem about book burning

Wang Xing faces questions about whether he delivered a veiled criticism of the government with a classical Chinese poem.

qz.com

 

[Globenim]

2018 H1 exports 7.5 Trillion Yuan
2019 H1 exports 7.9 Trillion Yuan
2020 H1 exports 7.7 Trillion Yuan
2021 H1 exports 9.8 Trillion Yuan

 

[GS Zhou]

2018 H1 exports 7.5 Trillion Yuan
2019 H1 exports 7.9 Trillion Yuan
2020 H1 exports 7.7 Trillion Yuan
2021 H1 exports 9.8 Trillion Yuan

Trump: trade war is good and easy to win!
Haha!!

 

[huckyang]

Trump: trade war is good and easy to win!
Haha!!
View attachment 762112

Trump reduced tax for the rich from 35% to 21%. So where he is going to make up the losses. Trade war make all American including the poor to pay the losses in the disguise of trade war. Simple. He make more rich relatively richer and the poor relatively poorer and yet there is no protest from the non rich. Smart guy Trump. But ain't any good for the average citizen and working class.