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A container terminal at the Port of Dalian in Dalian Adidas Stan Smith Pas Cher , Northeast China's Liaoning Province File photo: IC
China's trade slumped 8.8 percent, year-on-year, in September, the 7th consecutive month since March in which China saw slumping trade, reinforcing expectations that the Chinese government will roll out more stimulus to support the domestic economy, experts noted on Tuesday.

Data published by China's General Administrations of Customs (GAC) on Tuesday showed that exports in September tumbled 1.1 percent, year-on-year Adidas Superstar 2 Pas Cher , while imports slumped 17.7 percent. The country's total trade volume in 2015 also slumped 7.9 percent, year-on-year, with exports tumbling 1.8 percent and imports falling 15.1 percent.

But there has been some improvement in China's trade compared with the previous month, as exports increased by 8 percent and imports rose by 10.6 percent compared with August.

Government officials have also pointed out that China's trade has been "relatively sound" this year when compared with other major economies across the world.

In a speech at a press conference on Tuesday, Huang Songping, a spokesperson for the GAC, attributed China's shrinking trade to the global economic slowdown and a worldwide downturn in trade markets.

Citing WTO statistics Adidas Superstar W Pas Cher , Huang noted that global exports slumped 10.9 percent, year-on-year, in the first seven months of 2015.

"China's trade, especially exports, has been hit to a great extent by the global economic situation," Huang noted.

The IMF also decreased its global economic growth outlook for 2015 from 3.3 percent to 3.1 percent, according to a statement made on October 6.

Huang also noted that the Trans-Pacific Partnership (TPP) - a trade agreement reached on October 5 between 12 Pacific Rim countries Adidas Superstar Rose Pas Cher , including the US and Japan but excluding China - "has had some impact" on China's trade situation.

Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics in Beijing, told the Global Times on Tuesday that China's industrial adjustment has also affected the country's trade.

"With the rising cost of labor, China's traditional manufacturing industry is losing its advantages. This could lead to a slide in the trade volume of manufactured goods, especially labor-intensive products such as shoes and clothes," Tu noted.

China's exports of shoes declined by 4.2 percent, year-on-year Adidas Superstar Rouge Pas Cher , in September, while exports of clothes and other accessories fell 6.6 percent against the previous year.

GAC spokesperson Huang pointed out that there have been some improvements to the structure of China's trade and the quality of Chinese-made products.

"With the upgrading of many foreign trade enterprises, China's high-end products have gained increasing popularity among overseas traders," Huang stressed.

According to the GAC statistics, the export volume of mechanical electronic equipment climbed 1.3 percent, year-on-year, in September Adidas Superstar Bleu Pas Cher , while exports of cellphones and parts increased 13.6 percent, year-on-year.

China's 2015 trade figures have also registered an upward trend in emerging markets. From January to September, exports to India, Vietnam and Thailand climbed 8.7 percent, 9.4 percent and 15.6 percent, respectively, over one year earlier. In contrast Adidas Superstar Argent Pas Cher , exports to Japan and the European Union slumped 9.5 percent and 4.1 percent, year-on-year.

"Usually, China's exports to developed countries are mainly composed of low-end manufactured goods. Emerging markets, however, are more inclined to import products with high added values from other countries. The fact that China's exports to emerging markets are increasing shows that domestic products are improving in quality," Tu told the Global Times.

According to Huang, the drop in prices of global bulk commodities like crude oil and steel has also dragged down China's imports.

Ding Jianping Adidas Superstar Or Pas Cher , a professor of finance at Shanghai University of Finance and Economics, told the Global Times on Tuesday that the depreciation of the yuan's exchange rate in recent months could positively stimulate China's exports, although such impact would be "very limited."

Compared with each previous trading day, the yuan's exchange rate against the US dollar fell by nearly 2 percent on August 11, 1.6 percent on August 12 and 1.1 percent on August 13.

Huang said that China's exports situation thus far is better than that of countries like the US and Japan.

"Exports should also improve in the fourth quarter, due to factors including the yuan's devaluation," he noted.

The government has rolled out a series of measures to stimulate foreign trade Adidas Superstar Blanche Pas Cher , such as cutting import tariffs on certain everyday items and launching a cross-border payment system to facilitate the use of the yuan in global trade.

"The government is likely to roll out more policies in the future to stop foreign trade from dropping sharply," Tu said, though he added that shrinking trade will still be the "general trend."

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Tue Aug 11, 2020 9:26 pm