BUSINESS Chinese exports, imports to be on robust uptrend in coming months: UK thinktank

BUSINESS

Chinese exports, imports to be on robust uptrend in coming months: UK thinktank

Xinhua

06:50, October 14, 2020

LONDON, Oct. 13 (Xinhua) -- Chinese exports and imports will stay a robust uptrend in the coming months, a study released by the British thinktank Oxford Economics said Tuesday.

Photo taken on March 11, 2020 shows a China-Europe freight train bound for Mannheim of Germany departing from the Xinzhu Railway Station in Xi'an, northwest China's Shaanxi Province. (File photo: Xinhua)

China's exports growth remained solid in September, Oxford Economics said in the study issued Tuesday, adding that as shipments of products benefiting from virus-related demand should continue to hold up, it also predicted that the uptrend in exports will continue,

Meanwhile, underpinned by strong domestic demand, China's sequential import momentum to pick up further in the coming months, the thinktank said.

According to figures issued Tuesday by the General Administration of Customs of China (GACC), China's Export and Import values in U.S. dollars terms increased 9.9 and 13.2 percent respectively year on year in September.

"However the external outlook remains challenging as many important trading partners are facing the risk of another wave of COVID-19 resurgence during winter, which will dampen the speed of their economic recovery and their demand for Chinese exports," said Tommy Wu, lead economist of Oxford Economics.

"In such a scenario, though, shipments of products benefiting from virus-related demand such as work-related electronic products and personal-protection equipment should continue to hold up," Wu said.

As "recovery tracker" from Oxford Economics showed, industrial activity underpinned by strong investment and exports have boosted China's economic recovery.

"Indeed, the September PMI (Purchasing Managers' Index) readings suggest that the domestic recovery has gained pace, which should support a further expansion in imports in the near term," Wu said.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue