Empty cabinets are piling up in China due to economic slowdown and supply chain shifts.

(Schematic diagram, AFP file photo)

[Financial Channel/Comprehensive Report] Due to the slowdown of the economy and the transfer of supply chains, China's foreign trade orders are miserable, and empty cabinets are piling up like mountains.

China Truck Home revealed that Shenzhen Yantian Port is one of the busiest international container ports in the world, but there has been a sharp decrease in freight vehicles at the terminal, with only a few hundred trucks left.

Job truckers are everywhere, and their salaries have been cut by a third.

In order to avoid the misfortune of the export from being spread, it is said that if you are lucky, you will be asked by the company to run around the street with empty cabinets, creating the illusion of prosperity.

According to the latest import and export data from the General Administration of Customs of China, in terms of US dollars, in the first two months of this year, exports fell by 6.8%, imports shrank by 10.2%, and the cumulative trade surplus was 116.88 billion US dollars, an annual increase of 6.8%.

Among them, the decline in China's exports to the United States expanded by 2.3 percentage points to 21.8%, to Italy fell by 21%, to France by 19%, and to the EU by 12.2%.

Please read on...

Due to the severe foreign trade situation and empty containers piled up like mountains, the leader of the Shenzhen Yantian Port container fleet surnamed Yu told "Truck Home" that the global foreign trade has slowed down, and the accumulation of empty containers in Yantian Port has reached a record high. Compared with the difficulty of finding a container in 2020, Now it's hard to get out of a cabinet.

At the same time, the salaries of truck drivers have also been cut. Captain Yu said that in 2022, the monthly salary of container truck drivers will be between 14,000 and 15,000 RMB.

Attendance rates are also down more than 50% from the same period in 2022, with almost no drivers being hired.

Regarding the sharp decline in exports, Captain Yu said bluntly that in addition to the slowdown in the global economy and the reduction in foreign trade orders, foreign-funded enterprises in Dongguan, Shenzhen and other places have withdrawn from China, and "many large factories have closed down", making the situation worse.

Orders have shrunk, and freight rates have fallen even more severely.

It used to be that the shipping cost for 20 tons of goods from Yantian to Foshan was about 2,700 yuan, but now someone takes orders for 1,800 yuan.

Ningbo and Pudong Waigaoqiao ports in Shanghai are also confused. The volume of container transportation has dropped sharply, less than 80% of what it was before the epidemic. Some container truck drivers said that there is no work to do, and the streets and alleys are full of truck drivers who cannot find work. .

The financial commentator "Caijing Lengyan" also posted a Chinese netizen's revelation on YT, saying that Shenzhen Shekou container terminal will be notified by the company to run around the street with empty containers, "Don't ask me how I know."

A netizen responded by leaving a message below: "I expected it."

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news