Economy
China’s Trade Rebounds In May As Anti-Virus Curbs Ease

China’s trade growth rebounded in May 2022 after anti-virus restrictions that shut down Shanghai and other industrial centres earlier in the year began to ease.
Exports surged 16.9 per cent over a year ago to US$308.3bn, up from April’s 3.7 per cent growth, a customs agency statement said yesterday [June 12]. Imports rose 4.1 per cent to US$229.5bn, accelerating from the previous month’s 0.7 per cent.
China’s trade has been dampened this year by weak export demand and curbs imposed to fight outbreaks in Shanghai, the site of the world’s busiest port, and other cities. Consumer demand for imports was crushed by rules that confined millions of families to their homes.
Most factories, shops and other businesses in Shanghai, Beijing and other cities have been allowed to reopen but are expected to need weeks or months to return to normal activity levels.
The Port of Shanghai said the number of cargo containers handled each day returned to 95 per cent of normal by late May. However, a backlog of tens of thousands of containers is likely to cause delays that will be felt around the world.
Import figures got a boost from higher global prices for oil and other commodities while the volume of foreign goods bought grew less strongly.
-
Banking & Finance2 months ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
OER Magazines1 month ago
OER, July 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, July 25
-
Education2 months ago
Russia offers diverse tourism and education opportunities: Sofia Malyavina
-
Digital1 month ago
Russia’s Digital Frontier: An Inside Look with Alexey Goreslavsky of IRI
-
News4 weeks ago
OpenAI Strengthens ChatGPT’s Mental Health Safeguards Ahead of GPT-5 Launch
-
Energy2 months ago
Oman Investment Authority launches the Sultanate’s First Energy Transition Fund
-
Business2 months ago
Need to rebuild trust and collaboration says Alexander Stuglev, Chairman & CEO of the Roscongress Foundation