Tag: imports

China will import over $22 trillion worth of goods over the next decade: Xi Jinping
15Nov By Joe RodriguezNo Comments
Asia, China

China will import over $22 trillion worth of goods over the next decade: Xi Jinping

China is now shifting its focus to expand its imports in order to balance out its inbound and outbound shipments, and internationalize its currency.According to a senior official from a state-affiliated think tank, “China will no longer aim at achieving trade surpluses and solely expanding exports, but will pivot to moderately expanding imports for a balance between inbound and outbound shipments”.“This will not only help China to take the initiative in the new round of economic and trade negotiations, but also help promote the internationalisation of yuan,” said Huang Qifan, vice chairman of the China Center for International Economic Exchanges, during a financial forum.Earlier this month, President Xi Jinping had said that China will import over $22 trillion worth of goods over the next ...
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China imports plunge, exports fall on virus hit to global growth
7Jun By Michael SmithNo Comments
Asia

China imports plunge, exports fall on virus hit to global growth

China's exports and imports fell in May as the economic slowdown abroad started to take its toll, and after a surprise jump driven by increased demand for anti-epidemic supplies, official data showed on Sunday.Exports from the manufacturing powerhouse fell 3.3% on-year last month, better than the 6.5 per cent slide expected by a Bloomberg poll of analysts.But the return to negative territory came after a surprise 3.5% jump in April, which was partly due to medical exports.Analysts have warned of signs that a larger downturn awaits.Customs data released on Sunday showed a larger than expected plunge in imports on-year, which were down by 16.7%.This was significantly higher than the 7.8% expected by analysts, and down further from the 14.2% drop in April."Export growth rebounded in March and...
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