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MNI China Press Digest May 23: Exports, Sino-EU, Electricity

MNI (Singapore)
MNI (Beijing)

MNI picks key stories from today's China press

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Highlights from Chinese press reports on Thursday:

  • China’s trade fundamentals remain good amid strong external demand with Chinese products still benefiting from certain advantages, Securities Daily reported citing Song Siyuan, associate researcher at the Chinese Academy of International Trade and Economic Cooperation. In the first four months, ships, electric vehicles and construction machines grew rapidly, and exports in Yiwu city seized business opportunities brought by the Olympic Games and exported CNY3.1 billion of sporting goods and equipment, a rise of 45.6% y/y, the newspaper said.
  • EU demand for Chinese goods has not significantly increased despite train freighter prices increasing as much as 20% in May, experts told Yicai. Hao Panfeng, deputy secretary-general of the China Container Industry Association, said exporters had turned to trains after the Red Sea crisis had pushed up shipping rates, but had not seen any significant increase in China Europe trade volumes. Tang Tingting, assistant general manager at Sichuan New Silk Road Multimodal Transport, said EU demand had picked up marginally but did not match the magnitude of the price increases.
  • Export oriented firms in Guangdong recorded 5.7% electricity growth from January to April, a positive indication of foreign trade development, according to Dong Nan, project manager at the China Southern Power Grid Energy Institute. Export manufacturers electricity demand grew 15.2% y/y across southern China, Dong said, noting strong industrial production and new export sectors will drive steady electricity growth in Q2. (Source: 21st Century Business Herald)
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Highlights from Chinese press reports on Thursday:

  • China’s trade fundamentals remain good amid strong external demand with Chinese products still benefiting from certain advantages, Securities Daily reported citing Song Siyuan, associate researcher at the Chinese Academy of International Trade and Economic Cooperation. In the first four months, ships, electric vehicles and construction machines grew rapidly, and exports in Yiwu city seized business opportunities brought by the Olympic Games and exported CNY3.1 billion of sporting goods and equipment, a rise of 45.6% y/y, the newspaper said.
  • EU demand for Chinese goods has not significantly increased despite train freighter prices increasing as much as 20% in May, experts told Yicai. Hao Panfeng, deputy secretary-general of the China Container Industry Association, said exporters had turned to trains after the Red Sea crisis had pushed up shipping rates, but had not seen any significant increase in China Europe trade volumes. Tang Tingting, assistant general manager at Sichuan New Silk Road Multimodal Transport, said EU demand had picked up marginally but did not match the magnitude of the price increases.
  • Export oriented firms in Guangdong recorded 5.7% electricity growth from January to April, a positive indication of foreign trade development, according to Dong Nan, project manager at the China Southern Power Grid Energy Institute. Export manufacturers electricity demand grew 15.2% y/y across southern China, Dong said, noting strong industrial production and new export sectors will drive steady electricity growth in Q2. (Source: 21st Century Business Herald)