European And American Crisis Hits China'S Export Business

If the deficit in Europe and the United States has not yet had a significant impact on China in the previous two years, this year is undoubtedly full.

According to statistics released by the General Administration of customs, China exported $1 trillion and 49 billion 380 million in the first 7 months of this year, an increase of 23.4% over the same period last year.

The "made in China" export performance is far ahead of the beginning.

However, since August, the pace of China's exports has slowed down significantly.

In September, the General Administration of Customs announced that China exported 169 billion 670 million US dollars, an annual increase of 17.1%, which was worse than the market forecast of 20.7%. The growth rate was the lowest since February this year.

The growth rate of exports to the EU dropped sharply from 22.3% in August to 9.8% in September, while exports to the US slowed slightly to 11.6%.

In September, imports of 155 billion 160 million yuan, an increase of 20.9%, were worse than the market forecast of 24.5%.

This further proves that the impact of European and American debt crisis on China's foreign trade has begun to emerge.

Some experts believe that this year's fourth quarter and the first quarter of next year this impact will be more obvious.

Today, the international environment of China's trade has deteriorated. In the fourth quarter, the uncertain factors restricting the development of foreign trade are more complicated. Apart from the slowdown in international demand and rising domestic costs, China's foreign trade will also face increasing fluctuations in the RMB exchange rate and the increasing difficulties in the operation of small and medium-sized enterprises, and the export performance is not optimistic.

Expert comment

Qiao Xinsheng: try to increase exports to ASEAN and Africa

"Europe and the United States are important trade partners in China. The impact of the debt crisis in Europe and the United States on China must not be underestimated."

Qiao Xinsheng believes that the most direct impact of the debt crisis in Europe and the United States on China is the shrinking of China's foreign exchange reserves, the euro and the US dollar.

In December 6th, the new data of the central bank's "monetary authorities balance sheet" showed that the accumulated balance of foreign exchange held by the central bank in October was 23 trillion and 290 billion yuan, a decrease of 89 billion 340 million yuan compared with the September balance.

This is the first time in the past eight years, the monthly balance of the central bank's foreign exchange holdings has fallen, far exceeding the scale of foreign exchange held by all financial institutions.

"We can see that the negative impact of the debt crisis in Europe and the United States on RMB appreciation has been very obvious."

Secondly, Qiao Xinsheng said that the pressure of China's foreign trade caused by the debt crisis in Europe and America is also obvious.

According to the research report released shortly before the China International Economic Exchange Center, foreign trade enterprises in coastal areas such as Jiangsu, Zhejiang and Fujian generally reflect the reduction of orders in long and short periods, coupled with the appreciation of the renminbi, the rising cost of capital, the rise in labor costs of means of production, and the rise of trade protectionism.

For these effects, Qiao Xinsheng believes that China should crack down one by one.

First of all, we should adjust the proportion of foreign exchange reserves and expand domestic demand.

"In view of the relevant policies promulgated by Europe and the United States and other countries, we should make corresponding plans in time, and we can not wait."

Qiao Xinsheng said that under the influence of the debt crisis in Europe and the United States, the export enterprises in coastal cities and other places should try to regard this crisis as another opportunity, and take this opportunity to gradually carry out industrial pformation and expand the proportion of domestic sales.

At the same time, export enterprises can also try to open up new export markets.

Judging from the current proportion of China's exports, the European Union, the United States and Japan are the three giants of foreign trade, but there are still many countries' resources waiting to be developed, such as ASEAN and Africa.

Export enterprises can try to increase exports to these areas to fill the shortage of exports from Europe and the United States.