China's Export Accident Dropped Sharply By 18.1% In February

China February Exit A year-on-year decline of 18.1%, much worse than economists had expected to grow by 5%. Exports grew by 10.6% in January, and since February last year, China's exports declined for the first time.

However, analysts said that although the result was much weaker than expected, it may reflect the distortion caused by the Spring Festival holiday in China and the unfavorable results compared with the abnormal export level during the same period last year.

Polk Andrew Polk, an economist at Conference Board, said he had expected exports to be weak in February because manufacturers were shipping ahead of the Spring Festival holidays.

He said, but he never thought the result would be so bad. However, import growth of 10.1%, better than expected, is roughly the same as that of 10% in January, indicating that China's domestic economy is not so weak.

Exports have been one of the highlights of China's overall economic growth recently, and policymakers are making efforts to reduce the economy. Investment Relying on and promoting consumption to maintain long-term economic growth has given policymakers certain room for maneuver.

The Chinese government set a target of economic growth of about 7.5% this year. Structural adjustment may weaken the economic growth in the short term. If economic growth slows down, it may threaten the target of increasing 10 million urban jobs this year and keeping the urban unemployment rate below 4.6%.

Earlier this month, PMI, an official indicator of factory activity, showed that manufacturing expansion in February was the weakest in eight months, while an index compiled by HSBC (HSBC) showed that manufacturing activity contracted in February compared with January.

February Export data China's exports to the US have dropped by 11%, exports to the EU have dropped by 14%, and Hongkong's exports have dropped by 24%. China's last small trade deficit was in March last year, and this is the largest trade deficit since February 2012, when the trade deficit was $31 billion 500 million.

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RMB against the dollar on Monday (March 10th) early in the early period of the first fell 334 points, low to see 6.1594 yuan. Trade figures released on the weekend show that China's exports in February were significantly lower than those of the Spring Festival.

At 9:42 a.m. Beijing time, the renminbi was 6.1450 yuan against the US dollar and 190 points in the day.

On Monday, the central parity of RMB against the US dollar was 6.1312 yuan, which was much lower than that of last Friday (March 7th) of 6.1201 yuan.

China's export figures in February were strong against January, dropping nearly 20% compared with the same period last year, and the growth rate of imports remained basically stable. Analysts believe that the foreign trade data for the RMB exchange rate is expected to have a further differentiation role, the RMB exchange rate will continue to moderate appreciation throughout the year, but the volatility will gradually expand. Then