MNI BRIEF: China Foreign Trade Facing Pressure In Q4
MNI (BEIJING) - China’s trade industrIES face pressure in Q4 given increased restrictions and a complex external environment, Wang Lingjun, deputy director of the General Administration of Customs, told a press conference on Monday.
However, Wang noted the World Bank and the OECD had indicated the global economy was stabilising, which would create favourable conditions going forward for China’s exports, Wang added, highlighting a recent government survey showing 69% of more than 800 major export companies believed exports would be flat or grow in the final quarter.
September’s exports -- which grew 2.4% y/y in dollar terms, missing market expectations -- were impacted by short term factors such as extreme weather, shipping container shortages and base effects.