“There’s increasing evidence that the cyclical upturn in the global electronics sector is driving a bottoming-out of global trade and China’s trade data is the latest sign,” said Xu Tianchen, senior economist at the Economist Intelligence Unit.
South Korean exports to China, a leading indicator of China’s imports, fell at their slowest pace in 11 months in September.
However, Lv Daliang, spokesperson of the General Administration of Customs, said at a press conference earlier on Friday that China’s trade still faces a complex and severe external environment.
Yet, authorities can take some comfort from recent data including upbeat factory activity and retail sales while the past Golden Week holiday travel edged up 4.1% from pre-pandemic 2019 levels.
Most analysts have been reiterating in recent months that policymakers will need to go further than introducing piecemeal measures in order to bolster the economic recovery.
Persons:
”, Xu Tianchen, Headwinds, it’s, Robert Carnell, “
Organizations:
Beijing Reuters —, Economist Intelligence Unit, Semiconductors, Global, Administration of Customs, Bloomberg, ING
Locations:
Beijing, China, Asia, Pacific