Latest News:  
Beijing   Cloudy/Overcast    33 / 23 ℃  City Forecast

Home>>China Business

Why China's export growth rebounds robustly

(People's Daily Online)

09:51, June 15, 2012

China’s foreign trade amounted to over 1.5 trillion U.S. dollars during the first five months of the year, up 7.7 percent from a year earlier, with exports climbing 8.7 percent from last year to 774.4 billion U.S. dollars. The country’s exports reached a record 181.1 billion U.S. dollars in May, with the year-on-year growth rate rising from 4.9 percent in April to 15.3 percent in May.

Policy of diversifying export markets pays off, with exports to United States, ASEAN growing rapidly.

China’s export growth rebounded in May mainly thanks to the good performance of certain major export markets. During the first five months of the year, the country’s exports to the United States, Association of Southeast Asian Nations (ASEAN), and Russia increased 14.4 percent, 14.8 percent, and 15.3 percent from a year earlier respectively, contributing 4.1 percent to the increase in exports during the period. Last month, the country’s exports to the United States, ASEAN, and Russia increased 23 percent, over 28.3 percent, and nearly 18.9 percent respectively.

The Ministry of Commerce said that the considerable increase in exports to the United States in May was due to the smooth U.S. economic recovery. The U.S. economy grew 1.9 percent in the first quarter of 2012 over the previous quarter, and consumer confidence also rose month by month, leading to an increase in the demand for imported goods. China’s policy of diversifying export markets has also paid off. The country’s exports to ASEAN have maintained relatively rapid growth thanks to the establishment of China-ASEAN free trade area, and are increasingly contributing to its export growth.

Experts believe that the export growth of May accorded with the market expectation but the growth rate was far more than the expectation. Seasonal factors were also an important reason. Generally, May and June are the months when new orders are placed densely and the completions and deliveries of the orders promoted the export growth.

A researcher from the Chinese Academy of International Trade and Economic Cooperation Li Jian said that the May Day holidays of 2012 were April 29, April 30 and May 1 and it lowered the data of April and raised the data of May. On the other hand, the appreciation trend of the yuan slowed down in May and the yuan depreciated by 0.9 percent against the U.S. dollar in the month. That was obviously good for China's export enterprises.

【1】 【2】 【3】

Email|Print|Comments(Editor:厉振羽、张洪宇)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Chinese president calls for closer BRICS cooperation, G20 coordination

  2. Costumes of Chinese national team for 2012 Olympics released

  3. Serene scenery in Kanas, Xinjiang

  4. Fire strike from "manual" to "automatic"

Most Popular

Opinions

  1. China to 'maintain 8% growth for over 20 years'
  2. Larger labor force not a panacea for pension woes
  3. "China Containment theory" has no market
  4. Benefits of direct yen-yuan may be few, far between
  5. Keeping up appearances online proves tough job
  6. Why China's export growth rebounds robustly
  7. Don’t hate the trader, hate the securities game
  8. Master intl rules to solve trade disputes
  9. Investment banks ready to stand on own two feet
  10. China unlikely to undergo local govt debt crisis

What's happening in China

All fired up

  1. China to further invest in critical sectors
  2. WTO chief says trade restrictions alarming
  3. China to strengthen produce prices monitoring
  4. Home prices in cities drop at slower pace
  5. Tropical storm to batter eastern, southern China

China Features

  1. Left-behind kids have 'dream house'
  2. China's Olympic history: The road to success
  3. Eight systems of Shenzhou-9 manned spacecraft
  4. The thousand-year-old Tibetan paper
  5. Beijing Summit features five new aspects

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai