Deputy Director of the General Administration of Customs, Li Keinong, stated on the 7th that China's overall export outlook has shown signs of improvement. It is anticipated that exports will rise in August, with a smaller year-on-year decline compared to July.
During the State Council press conference, Li Kenong emphasized that based on recent monthly data, China’s exports are expected to gradually improve. However, predicting exactly when they will return to positive growth remains uncertain.
The release of August's import and export data is planned for this week. According to July's statistics, China's exports dropped by 23% year-on-year, while imports fell by 14.9%. This represents a 1.6 percentage point increase in the decline from the previous month, with sequential growth rates improving by 10.4% and 8.7%, respectively.
At the same press conference, Vice Minister of Commerce Gao Hucheng noted that both the WTO Doha Round negotiations and free trade zone discussions are ongoing simultaneously. Regional free trade agreements often offer more favorable terms than those under the WTO framework. The establishment and negotiation of these free trade zones will foster stronger cooperation among member countries and help them collectively address economic challenges.
In light of these developments, experts remain optimistic about China’s trade landscape, despite the current downturn. Efforts to diversify trading partners and enhance regional partnerships are seen as key strategies to stabilize and potentially boost China’s trade performance moving forward.
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