ASEAN Trade Needs More Support - State Council

China's industries need more support to increase trade with regional markets such as ASEAN, according to a recent executive meeting at the State Council. Yicai said China's foreign trade situation has deteriorated, with import and export data slightly decreasing by 0.8% y/y in the first two months. Exports, however, improved after February, with heavy truck traffic reported around major ports. Exports must stabilise to maintain China’s position as the world’s factory and help developed economies combat inflation and stagflation, according to Yicai. China should urgently construct an institutional system to promote trade and investment, rather than volatile ad-hoc policies, Yicai said.