China's exports and imports still fell in the first two months of this year, casting a shadow over economic recovery.

(Associated Press)

[Compilation of Lu Yongshan/Comprehensive Report] China lifted the epidemic prevention clearance in December last year and set the economic growth rate for this year at about 5%. However, exports and imports still fell in the first two months of this year, and have continued to shrink since October last year. The economic recovery has been overshadowed; affected by this, the Shanghai Composite Index fell by one on Tuesday.

one%.

China's General Administration of Customs said that in US dollar terms, exports from January to February fell by 6.

8% to 506.3 billion US dollars; imports shrank ten.

2% to 389.4 billion U.S. dollars, with a trade surplus of 116.9 billion U.S. dollars, an increase of 6.6% over the same period last year.

eight%.

China usually publishes trade data from January to February each year in a consolidated manner to mitigate the impact of the Spring Festival factor on the base period.

Please read on...

From October to December last year, China's exports shrank respectively.

Three percent, eight.

Seven percent and nine.

9%; imports also shrank ○.

seventy.

Six percent and seven.

five%.

Global demand for Chinese goods has weakened since the end of last year, mainly due to soaring inflation and interest rate hikes in various countries, which have impacted consumer spending; exports have been the mainstay of China's economic growth for the past two years, helping to offset the impact of epidemic prevention and control measures. Weak domestic spending in China has now reversed; consumer spending has rebounded after China's sudden cancellation of zero-clearing and a decline in the number of people infected with the virus so far this year, but external demand has been subdued by weak economies in major developed countries.

Bloomberg China economist Qu Tianshi said: "External demand will drag down the economic recovery, which means that domestic demand must play a more important role; the Chinese government must boost consumer spending, but due to weak confidence and reduced income, consumer spending has been affected. limit."

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