Ministry Of Commerce: At Present, China'S Foreign Trade Situation Is Basically Stable.
China's foreign trade situation report released by the Ministry of Commerce in the spring of 2008 shows that although China's export environment has become increasingly tight since the second half of last year, the export situation has been basically stable since the beginning of this year. The departments concerned are paying close attention to the export predicament of some labor-intensive industries.
Analyzing the import and export data this year, we can see that although China's export growth to the US and European markets has dropped sharply, trade with neighboring countries and emerging market countries has maintained strong growth momentum. Exports to ASEAN, South Korea, India, Russia and Brazil have increased by more than 33%, and imports from India, Russia, South Africa and Brazil have also increased by more than 30%.
According to the introduction, the adjustment of China's import and export tax policy last year has effectively suppressed the export of some high energy consumption, high emission and resource products, and has also significantly promoted the import of some energy and resource commodities, key parts, advanced technology and equipment, as well as people's daily necessities. However, due to the low profit margins of textile, light industry and other labor-intensive industries, the space for the increase of digestion costs is very limited. In the first quarter of this year, the export volume of clothing, footwear and toys increased by 14.7%, 11.2% and 3.3%, respectively, and the highest decline was 20 percentage points.
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