Foreign trade data unexpectedly bright, foreign media: China’s economy“Moving like a rabbit”

                China’s exports (in US dollar terms) rose 14.8 per cent in September from a year earlier, while imports fell 1.4 per cent year-on-year, resulting in a trade surplus of $88.19 bn, according to data released by the General Administration of Customs on September 13. According to a number of foreign media articles, not only China’s foreign trade data bright, domestic consumer demand is also constantly released, showing a strong rebound in the Chinese economy a positive signal.

               Under multiple pressures, China’s foreign trade once again showed its “resilience” and got off to a steady and positive start. The British “Financial Times” reported under the title “China’s Export Numbers Recover Strongly” that the export engine, considered the core of China’s economy, has recovered strongly, boosting people’s hopes that China will achieve its growth target this year. The article stated that despite weak global growth, China’s exports surged by nearly 15% in March, driven by sales of electric vehicles and other products.

                Reuters mentioned that China’s exports increased by 14.8% year-on-year in March, which surprised Reuters analysts. At the same time, China’s imports fell by only 1.4% in March, an improvement that was better than scholars expected. Accelerating purchases of agricultural products, especially soybeans, have provided some support to China’s strong performance in imports, economists said.

                 Bloomberg of the United States stated under the title “Unexpected surge in China’s export growth releases positive economic signal” that as demand improved in most countries in Asia and Europe, Chinese factories resumed production. China’s exports unexpectedly increased in March, boosting the economic outlook and indicating global growth. Probably better than expected. Economists told US media that this surprising and optimistic data shows that external demand continues to grow better than currently expected. 

                 While export data has aroused international public opinion’s amazement, China’s domestic demand potential has also attracted attention. On April 13, the Ministry of Culture and Tourism introduced at a press conference that the national culture and tourism industry has recently shown a good momentum of rapid recovery. Data from multiple platforms and travel agencies show that the May Day holiday booking peak has arrived ahead of schedule, and it is expected that people’s travel demand will be strong.

Citing data, Singapore’s “Channel News Asia” website reported that China’s travel bookings have returned to pre-epidemic levels, and travel orders will surge during the upcoming May Day holiday. The article is based on data from online travel booking website Ctrip. As of April 6, China’s domestic travel orders during the May Day holiday have equaled those in 2019, with a year-on-year increase of more than 7 times. Data from travel and catering app Meituan shows that as of April 10, domestic travel orders during the May Day holiday increased by approximately 200% compared with the same period in 2019, reaching the highest level in five years.