MNI BRIEF: MOFCOM Meets With Korean Trade Association
China's Vice Minister of Commerce Li Fei met with a delegation from the Korean trade association in Beijing on Tuesday and exchanged views on future economic and trade cooperation between the two countries.
The Korean trade association previously told MNI trade with China would remain subdued in H2 due to China’s slow recovery and a global downturn in the semiconductor industry. (See MNI INTERVIEW: S.Korea H2 Export Outlook Hit By Slowing China - Bonds & Currency News | Market News)
Exports are expected to rebound towards the end of 2023 as the U.S. and Europe enter peak demand season and favourable currency factors boost exports. (See MNI INTERVIEW:China Exports To Rebound, Strengthen GDP-Advisor - Bonds & Currency News | Market News) China will release trade data for August on Thursday following July exports falling for the third straight month by 14.5% y/y in USD terms – an over three-year low.