MNI China Press Digest March 13: SMEs, Shipping, Guangdong

Highlights from Chinese press reports on Thursday:

• China’s Small and Medium Sized Enterprise Index rebounded to 89.8 in February, up 0.8 points from January, reflecting increased demand and investment willingness, according to Liu Xiangdong, deputy director at the China International Economic Exchange Center. SMEs have boosted expectations and confidence after the implementation of positive macroeconomic policies, Liu added. Ma Bin, executive vice president at the China Association of SMEs, said firms’ operation and production accelerated after the Spring Festival. (Source: Securities Daily)
• China’s export container market remained low during the past week as volumes increased less than expected after Chinese New Year, Yicai reported, citing a recent Shanghai Shipping Exchange report. The Shanghai Export Container Comprehensive Freight Index reached 1436 points, marking eight weeks of consecutive decline and down 42.7% since Jan 3. Faced with tariff pressure, U.S. volumes dropped as more exporters targeted the European market, a logistics industry insider said, noting European demand may not be able to accommodate the influx.
• China’s Guangdong province saw exports reach CNY855 billion during January and February, a decrease of 4.3% y/y, with imports totalling CNY490 billion, down 6.1% y/y, 21st Century Business Herald said. The province's foreign trade accounted for 20.6% of total national foreign trade, an increase of 0.1 percentage points, the paper noted. Shipments of mechanical and electrical products amounted to CNY572 billion, an increase of 1.5% y/y, offset by a 21.4% fall in labour-intensive products such as textiles, clothing and bags.