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Market News Positive factors help exports increase by 15.3% year-on-year in May, and energy import prices have increased significantly
Positive factors help exports increase by 15.3% year-on-year in May, and energy import prices have increased significantly
In the face of rising raw material prices and other issues, Liang Ming, director of the Foreign Trade Research Institute of the Ministry of Commerce Research Institute, told China Business News that the challenges faced by foreign trade companies in any country in the world are international. When we face problems together, our institutional advantages will be further exerted, and the targeted countermeasures in the near future will be more effective, which may be an opportunity for Chinese enterprises.
2022-06-09
8444
Exports in May recorded a new high in nearly 4 months, facing many bullish factors. Imports of crude oil, coal, natural gas and soybeans fell in price.
According to customs statistics, in the first five months of this year, my country's total import and export value was 16.04 trillion yuan, a year-on-year increase of 8.3%. Among them, the export was 8.94 trillion yuan, an increase of 11.4%; the import was 7.1 trillion yuan, an increase of 4.7%; the trade surplus was 1.84 trillion yuan, an increase of 47.6%.
Among them, in May, my country's total import and export value was 3.45 trillion yuan, an increase of 9.6%. Among them, the export was 1.98 trillion yuan, an increase of 15.3%; the import was 1.47 trillion yuan, an increase of 2.8%; the trade surplus was 502.89 billion yuan, an increase of 79.1%.
Zheng Houcheng, director of Yingda Securities Research Institute, told China Business News that exports in May hit a new high in nearly four months and faced many positive factors. First, in May, JPMorgan's global manufacturing PMI recorded 52.40, an increase of 0.10 percentage points from the previous value. At the same time, new orders were recorded at 50.90, an increase of 0.40 percentage points from the previous value. Both indicate that global external demand is still expanding in May. Secondly, in May, the CRB index (Reuters Commodity Research Bureau Index) recorded a year-on-year growth rate of 52.46%, still at a historically high level, forming a strong support. In addition, the RMB exchange rate continued to depreciate by 0.96% in May on the basis of April, and the base fell slightly by 4.36 percentage points in the same period in 2021, which are all positive factors.
Finally, in May, the logistics and industrial chain supply chains were well repaired. Therefore, from the perspective of supply, the previous unfavorable factors were alleviated to a large extent, and the export value in May rose sharply year-on-year.
Wei Jianguo, former vice minister of the Ministry of Commerce and vice chairman of the China International Economic Exchange Center, told Yicai that according to the current global situation, especially the demand in the European and American markets, the current rise in raw material prices has led to the inability of companies in many places to fully start operations. The demand for commodities will grow strongly. Therefore, with the full progress of Shanghai's resumption of work and production, China's foreign trade orders are expected to rebound in the third quarter.
At the regular briefing on the State Council's policies to promote the stability and improvement of foreign trade held on June 8, Li Xingqian, director of the Department of Foreign Trade of the Ministry of Commerce, proposed that since the beginning of this year, with the gradual recovery of production in neighboring countries, some foreign trade that returned to China last year Orders flowed out again. Overall, the scale of these order outflows is controllable and the impact is limited. At the same time, the relocation of some industries is in line with economic laws, and China's position in the global industrial chain and supply chain structure is still consolidated.
Exports of both mechanical and labor-intensive products continued to grow, customs data showed. In the first five months, my country exported 5.11 trillion yuan of mechanical and electrical products, an increase of 7%, accounting for 57.2% of the total export value.
At the same time, the import and export of private enterprises grew rapidly and their proportion increased. In the first five months, the import and export of private enterprises was 7.86 trillion yuan, an increase of 11.8%, accounting for 49% of our total foreign trade value, an increase of 1.5 percentage points over the same period last year. Among them, exports were 5.28 trillion yuan, an increase of 16.7%, accounting for 59% of the total export value; imports were 2.58 trillion yuan, an increase of 2.9%, accounting for 36.5% of the total import value.
The executive meeting of the State Council on June 8 pointed out that the mechanism of stabilizing foreign trade and foreign investment at all levels should be brought into full play, and coordination and resolution of difficulties such as resumption of production and project construction of foreign-invested enterprises in foreign trade should be addressed. For enterprises with good export tax rebate credit, the tax rebate will be implemented in stages within 3 working days, the import of high-quality products will be expanded, the efficiency of port loading, unloading, transshipment and customs clearance will be accelerated, and the international industrial chain supply chain will be maintained stable. Study the phased reduction or exemption of port-related charges. At the same time, actively attract foreign investment, create a market-oriented, law-based and international business environment, and expand the catalogue of encouraged foreign investment in manufacturing in the central and western regions.
The import volume and price of iron ore fell, and the import volume of crude oil, coal, natural gas and soybeans decreased in price. Among them, in the first five months, my country imported 217 million tons of crude oil, a decrease of 1.7%, the average import price was 4,463 yuan per ton, an increase of 55.6%; coal was 95.955 million tons, a decrease of 13.6%, and the average import price was 1018.2 yuan per ton, an increase of 105.3% Natural gas was 44.911 million tons, down 9.3%, and the average import price was 3815.3 yuan per ton, up 70.3%; soybeans were 38.035 million tons, down 0.4%, and the average import price was 4063.9 yuan per ton, up 23.3%; refined oil was 9.982 million tons, down 23.3%. 3.8%, and the average import price was 5,167.2 yuan per ton, up 38.8%.
In the face of rising raw material prices and other issues, Liang Ming, director of the Foreign Trade Research Institute of the Ministry of Commerce Research Institute, told China Business News that the challenges faced by foreign trade companies in any country in the world are international. When we face problems together, our institutional advantages will be further exerted, and the targeted countermeasures in the near future will be more effective, which may be an opportunity for Chinese enterprises.
Article source: First Financial
According to customs statistics, in the first five months of this year, my country's total import and export value was 16.04 trillion yuan, a year-on-year increase of 8.3%. Among them, the export was 8.94 trillion yuan, an increase of 11.4%; the import was 7.1 trillion yuan, an increase of 4.7%; the trade surplus was 1.84 trillion yuan, an increase of 47.6%.
Among them, in May, my country's total import and export value was 3.45 trillion yuan, an increase of 9.6%. Among them, the export was 1.98 trillion yuan, an increase of 15.3%; the import was 1.47 trillion yuan, an increase of 2.8%; the trade surplus was 502.89 billion yuan, an increase of 79.1%.
Zheng Houcheng, director of Yingda Securities Research Institute, told China Business News that exports in May hit a new high in nearly four months and faced many positive factors. First, in May, JPMorgan's global manufacturing PMI recorded 52.40, an increase of 0.10 percentage points from the previous value. At the same time, new orders were recorded at 50.90, an increase of 0.40 percentage points from the previous value. Both indicate that global external demand is still expanding in May. Secondly, in May, the CRB index (Reuters Commodity Research Bureau Index) recorded a year-on-year growth rate of 52.46%, still at a historically high level, forming a strong support. In addition, the RMB exchange rate continued to depreciate by 0.96% in May on the basis of April, and the base fell slightly by 4.36 percentage points in the same period in 2021, which are all positive factors.
Finally, in May, the logistics and industrial chain supply chains were well repaired. Therefore, from the perspective of supply, the previous unfavorable factors were alleviated to a large extent, and the export value in May rose sharply year-on-year.
Wei Jianguo, former vice minister of the Ministry of Commerce and vice chairman of the China International Economic Exchange Center, told Yicai that according to the current global situation, especially the demand in the European and American markets, the current rise in raw material prices has led to the inability of companies in many places to fully start operations. The demand for commodities will grow strongly. Therefore, with the full progress of Shanghai's resumption of work and production, China's foreign trade orders are expected to rebound in the third quarter.
At the regular briefing on the State Council's policies to promote the stability and improvement of foreign trade held on June 8, Li Xingqian, director of the Department of Foreign Trade of the Ministry of Commerce, proposed that since the beginning of this year, with the gradual recovery of production in neighboring countries, some foreign trade that returned to China last year Orders flowed out again. Overall, the scale of these order outflows is controllable and the impact is limited. At the same time, the relocation of some industries is in line with economic laws, and China's position in the global industrial chain and supply chain structure is still consolidated.
Exports of both mechanical and labor-intensive products continued to grow, customs data showed. In the first five months, my country exported 5.11 trillion yuan of mechanical and electrical products, an increase of 7%, accounting for 57.2% of the total export value.
At the same time, the import and export of private enterprises grew rapidly and their proportion increased. In the first five months, the import and export of private enterprises was 7.86 trillion yuan, an increase of 11.8%, accounting for 49% of our total foreign trade value, an increase of 1.5 percentage points over the same period last year. Among them, exports were 5.28 trillion yuan, an increase of 16.7%, accounting for 59% of the total export value; imports were 2.58 trillion yuan, an increase of 2.9%, accounting for 36.5% of the total import value.
The executive meeting of the State Council on June 8 pointed out that the mechanism of stabilizing foreign trade and foreign investment at all levels should be brought into full play, and coordination and resolution of difficulties such as resumption of production and project construction of foreign-invested enterprises in foreign trade should be addressed. For enterprises with good export tax rebate credit, the tax rebate will be implemented in stages within 3 working days, the import of high-quality products will be expanded, the efficiency of port loading, unloading, transshipment and customs clearance will be accelerated, and the international industrial chain supply chain will be maintained stable. Study the phased reduction or exemption of port-related charges. At the same time, actively attract foreign investment, create a market-oriented, law-based and international business environment, and expand the catalogue of encouraged foreign investment in manufacturing in the central and western regions.
The import volume and price of iron ore fell, and the import volume of crude oil, coal, natural gas and soybeans decreased in price. Among them, in the first five months, my country imported 217 million tons of crude oil, a decrease of 1.7%, the average import price was 4,463 yuan per ton, an increase of 55.6%; coal was 95.955 million tons, a decrease of 13.6%, and the average import price was 1018.2 yuan per ton, an increase of 105.3% Natural gas was 44.911 million tons, down 9.3%, and the average import price was 3815.3 yuan per ton, up 70.3%; soybeans were 38.035 million tons, down 0.4%, and the average import price was 4063.9 yuan per ton, up 23.3%; refined oil was 9.982 million tons, down 23.3%. 3.8%, and the average import price was 5,167.2 yuan per ton, up 38.8%.
In the face of rising raw material prices and other issues, Liang Ming, director of the Foreign Trade Research Institute of the Ministry of Commerce Research Institute, told China Business News that the challenges faced by foreign trade companies in any country in the world are international. When we face problems together, our institutional advantages will be further exerted, and the targeted countermeasures in the near future will be more effective, which may be an opportunity for Chinese enterprises.
Article source: First Financial
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