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10:49, June 12, 2009 |
Analysis of China's economic data in May - special
Economic data in May showed that China's economy has shown positive changes, but there is not yet a solid basis for rebound due to weak external demand.
The world's major economies are still declining, which means no fundamental improvement in weak external demand.
China's foreign trade situation remains grim. According to customs statistics in May, China's import and export volume totaled 164.13 billion USD, down 25.9 percent from a year earlier. Exports fell 26.4 percent in May from the same period a year ago to 88.76 billion USD, compared with a decline of 22.6 percent in April.
Weak external demand is also reflected in port transportation. In May the container handling capacity is expected to reach 9,750,000 TEUs, down 9.7 percent, but the decline rate is 4 percent slower than the previous month.
While imports of goods, such as iron ore, coal, and crude oil speeds went up in May, ports are expected to have 182 million tons of cargo, an increase of 4.7%, making it the second month to show positive growth following March.
Analysts believe that in the months to follow, China's foreign trade prospects will remain very grim. The world economy has not yet fully stabilized and there is no reason for over optimism in short term. Exporters should prepare for that.
At present, the contraction in external demand leads to reduced exports, and that remains the biggest difficulty for China's economic growth. While China is working on expanding domestic demand, at the same time we must take every effort to stabilize external demand.
On the other hand, China needs time to adjust its economic structure, and solve problems like overcapacity in some industries, enterprise production and management difficulties, and growing urban unemployment.
While the international financial crisis continues to spread, the situation can not be taken lightly.
By People's Daily Online
http://paper.people.com.cn/rmrb/html/2009-06/12/content_273043.htm
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