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ReturnHoliday season orders likely to fuel more exports from China
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admin
PublishDate：
2006-10-17 16:12:00
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BEIJING, OCT 16: Even though Chinese leaders have promised to import more to address the growing trade imbalance, experts said China may not be able to stop increased exports in view of world-wide demand for its products in the upcoming holiday season.
The decline in China’s monthly trade surplus in the month of September could be short-lived as the upcoming holiday season would boost world demand for China-made products, experts said.
Although the September figure fell nearly $3.5 billion from the August level to $15.3 billion, it is still the second highest of the year and more than twice the figure of last September, official statistics showed.
Researcher Li Jian with the Institute of Research under the ministry of commerce said the September slowdown was ‘normal’. The slowdown was mainly due to the appreciation of the yuan and the removal of export tax rebates for energy-guzzling and environmentally costly commodities, Li explained.
China’s trade surplus in the first nine months of this year hit $109.85 billion, higher than the total of $101.88 billion for the whole year in 2005.
France-based BNP Paribas, an investment bank, also regards the September decline as just a blip on the screen. Its latest report projects an increase of more than 30% each month for China’s exports in the fourth quarter, as well as a monthly increase of 20% for imports.
Asia strategist with the Royal Bank of Scotland, Ben Simpfendorfer said intensive purchasing before christmas would lift China’s monthly surplus to a new high.
Citing electronic goods as an example, he said products ordered for the fourth quarter are now being shipped from China.
Meanwhile, Chinese premier Wen Jiabao announced on Sunday that the 50-year-old Chinese Export Commodities Fair will change its name to the Chinese Import and Export Commodities Fair from next session.
The fair, also known as Canton Fair, has been a biannual event held in spring and autumn since 1957 in the southern city of Guangzhou to boost the export of Chinese products.
Source: Industry Website
The decline in China’s monthly trade surplus in the month of September could be short-lived as the upcoming holiday season would boost world demand for China-made products, experts said.
Although the September figure fell nearly $3.5 billion from the August level to $15.3 billion, it is still the second highest of the year and more than twice the figure of last September, official statistics showed.
Researcher Li Jian with the Institute of Research under the ministry of commerce said the September slowdown was ‘normal’. The slowdown was mainly due to the appreciation of the yuan and the removal of export tax rebates for energy-guzzling and environmentally costly commodities, Li explained.
China’s trade surplus in the first nine months of this year hit $109.85 billion, higher than the total of $101.88 billion for the whole year in 2005.
France-based BNP Paribas, an investment bank, also regards the September decline as just a blip on the screen. Its latest report projects an increase of more than 30% each month for China’s exports in the fourth quarter, as well as a monthly increase of 20% for imports.
Asia strategist with the Royal Bank of Scotland, Ben Simpfendorfer said intensive purchasing before christmas would lift China’s monthly surplus to a new high.
Citing electronic goods as an example, he said products ordered for the fourth quarter are now being shipped from China.
Meanwhile, Chinese premier Wen Jiabao announced on Sunday that the 50-year-old Chinese Export Commodities Fair will change its name to the Chinese Import and Export Commodities Fair from next session.
The fair, also known as Canton Fair, has been a biannual event held in spring and autumn since 1957 in the southern city of Guangzhou to boost the export of Chinese products.
Source: Industry Website
