China Imp.& Exp.Intepretation 2020

Wednesday, Jul 29,2020 10:00am CST

By Rosaline Li (Consultant of Shanghai Auspicious Consulting)

In RMB terms, China's exports rose 4.3 per cent in June from a year earlier, 2.9 percentage points higher than in May, marking a third straight month of gains. Imports, on the other hand, returned to positive growth, up 6.2% in June from a year earlier, a sharp 18.9% jump from the previous reading. Significantly, imports and exports grew 5.1% in June from a year earlier, marking the first positive month for imports and exports this year.

Although the overseas environment for the development of foreign trade in 2020 is facing more uncertainties, challenges and pressures have increased significantly. But because the epidemic situation at home has nearly leveled off, some companies that used to rely on Chinese exports have seen their demand grow. Take the Canton Fair as an example, which has been held for 63 years. Due to the epidemic, this year's Canton Fair was put on the "cloud" for the first time, forming a new integrated online exhibition model such as online exhibition promotion, online procurement and online negotiation.

From at present, the development of the epidemic situation, the international on epidemic prevention and control will become the norm in 2020, and as the outbreak continued, also can develop some new material needs, such as epidemic prevention and control of the class products, medical equipment, increased demand, in other countries can't satisfy related supply, domestic normal production, will bring huge to this kind of product's export market.

Against the backdrop of the global epidemic, Chinese suppliers have unique advantages. Because China is the country that has recovered the fastest after the epidemic, China is the only factory in the world that can meet the global demand after the gradual recovery of foreign trade businesses.

From the perspective of Shanghai Auspicious Consulting on supply side analysis, domestic international trade suppliers have obvious advantages after the epidemic. Due to the rapid recovery of the epidemic situation, domestic enterprises and factories quickly resumed work and production can ensure the demand of overseas buyers.