MNI BRIEF: China H2 Exports Resilient Despite Global Downturn

China’s export sector will see resilience in H2, despite a drop in external demand impacting wider global trade, according to Li Xingqian, Director-General of the Foreign Trade Department of the Ministry of Commerce. Speaking at a press conference on Wednesday, Li said China remained confident exports would perform well in H2 given China’s competitive advantage and the diversified global market.

With exporters seeing sharp declines in y/y export growth over May and June, Li said the downturn in the global electronic information industry was a contributing factor, but noted that given the industry follows a 4 year cycle, the slump could be bottoming out. MOFCOM would continue to support exporters through promoting trade fairs, overseas marketing and increasing international flights, Li said.

China's exports registered a 3.2% y/y fall in H1 as June's exports decreased by 12.4% y/y following May's 7.5% y/y drop. (SEE: MNI BRIEF: China H1 Exports Slow, Int'l Trade Challenging - Bonds & Currency News | Market News)